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☆ Warner Bros. Discovery says it will beef up ads on its Max streaming service
▼ + stars: | 2024-11-07 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Discovery says it will beef up ads on its Max streaming service. Max added 7.2 million subscribers in its third quarter, reaching 110.5 million total subscribers. Discovery's Max streaming service. The newest player in streaming ads, Amazon, recently said it would increase its ad load in Prime Video after rolling out ads to the service in January. Rival Netflix, by comparison, added 5.1 million subscriptions in its most recent quarter and now has 282.7 million subscribers in total.

Persons: Max, —, WBD, JB Perrette, Perrette, Jennifer Halloran Max, we're, David Zaslav, Jon Steinlauf, who's Organizations: Warner Bros, Service, Boston Red Sox, HBO, Media, DC, Paramount, Pluto, Nielsen, Netflix Locations: Max

☆ Jon Steinlauf, WBD's Top Ad Salesman, to Leave. Read the Memo.
▼ + stars: | 2024-10-04 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Discovery's top ad salesman, will leave at the year's end. Steinlauf's departure follows his role in merging ad sales units after the Discovery-WarnerMedia deal. Discovery's top ad salesman, will leave the media company at the end of the year, according to an internal memo from Bruce Campbell, WBD's chief revenue and strategy officer, that was shared with Business Insider. AdvertisementSteinlauf led Discovery's ad sales business starting in 2018 under Zaslav pre-merger, having joined Discovery through its acquisition of Scripps Networks. Read the memo about Steinlauf's departure from the company below:

Persons: Jon Steinlauf, —, Bruce Campbell, Turner, WBD, Comcast's NBCU, Marybeth Strobel, Ryan Gould, David Zaslav, Steinlauf Organizations: Warner Bros, Discovery, NBA, Service, Business, CNN, HBO, Disney, Paramount, Turner Sports, Zaslav, Scripps Networks

☆ Cheddar News, the business-focused startup, has been hollowed out. ‘It feels like the end,’ sources say
▼ + stars: | 2024-01-12 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

There is “literally no one there.”That’s because there is, effectively, no one working at Cheddar News, the once spirited financial news-focused streaming television network. “It feels like the end,” a person familiar with the matter candidly told me. By the time Archetype acquired Cheddar in December, only a couple dozen or so editorial staffers remained at the outlet, people familiar with the matter told me. Soon after signing those agreements, however, Archetype sent furlough notices to many of the remaining employees. “There is certainly a death happening as we speak,” one of the people familiar with the outlet’s state of affairs told me.

Persons: New York CNN —, ” I’m, Jon Steinberg, Bell ”, Kristen Scholer, I’m, Steinberg, ”, Kelly Facer, Stephanie Gildea, it’s Organizations: New, New York CNN, Cheddar News, CNBC, millennials, Altice USA, Associated Press, Altice, Business Locations: New York, Manhattan, Cheddar, ”

☆ Why Netflix, Disney, and other Hollywood companies are flocking to CES this year
▼ + stars: | 2024-01-08 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

Advertising and marketing pros made up 7% of CES' attendees in 2023, per CES. Look for topics like the creator economy and the rise of artificial intelligence to dominate the conversation for advertisers, Kassan added. And Roku, which is closing in on its search for a new ad sales head, is sending a large contingent. The cost advertisers pay for streaming ads is expected to decline as platforms release more inventory, particularly with Amazon unleashing ads on Prime Video. Advertisers also have more options with the fast-growing FASTs (free, ad-supported streaming TV channels), which primarily offer older TV shows and movies.

Persons: David Benioff, Weiss, Alexander Woo, Amy Reinhard, execs, It's, who'll, Patrick Pannett, Michael Kassan, Evan Spiegel, Kassan, — that's, Rita Ferro, NBCUniversal's Mark Marshall, NBCU's Peacock, NBCUniversal, Peacock, NBCU, Tanner Elton, Amy McDevitt, Ludacris, Jon Steinlauf, GroupM Organizations: Netflix, CES, Business, Consumer Technology Association, Madison Avenue, Walmart, Disney, Nexstar Media Group, Nvidia, Paramount, CTA, Tech, NBC, Bravo, Amazon Ads, Warner Bros, Magna, CTV, Hulu, Intelligence, Prime Video Locations: Las Vegas, Peacock

Cheddar News owner Altice USA announced Thursday it has sold the financial news streaming service to the media company Archetype, which is owned by private equity firm Regent LP. Altice USA will collect proceeds in the future if Cheddar meets certain performance targets. Those payments could amount to about $50 million based on internal projections, CNBC previously reported. Cheddar, founded in 2016 by Jon Steinberg, was bought by Altice USA in 2019 for $200 million. "We are incredibly proud of what Cheddar News has accomplished within the Altice USA portfolio, growing its distribution to reach new viewers with fresh and exciting need-to-know news content," said Keith Bowen, president of news, advertising and programming for Altice USA, in a statement.

Persons: Jon Steinberg, Keith Bowen Organizations: Cheddar News, Altice USA, CNBC, Sunset Magazine, Military Times, CNBC PRO Locations: Cheddar, Regent, USA

☆ Altice USA in talks to sell Cheddar News to private equity firm Regent
▼ + stars: | 2023-12-11 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

Altice USA is in talks to sell the financial news streaming service Cheddar News to LA-based private equity firm Regent LP, according to people familiar with the matter. Instead, Altice USA would participate in Cheddar's future performance as part of a so-called "earn out" structure. Since then, Altice USA, the fourth-largest U.S. cable provider, behind Comcast , Charter and Cox, has looked to shed assets as its stock price has plummeted. Altice USA has also considered selling U.S. cable asset Suddenlink but dropped those plans in late 2022. The New York Times reported Altice USA was considering selling Cheddar earlier this year.

Persons: Jon Steinberg, Dexter Goei, Steinberg, Goei, Regent, Ralph Lauren, Regent didn't Organizations: USA, Regent, Altice, CNBC, Altice USA, Comcast, Cox, Sightline Media, Sunset Magazine, Time Inc, Club Monaco, New York Times Locations: LA, USA, Altice USA, U.S, Tegna

☆ Warner Bros. Discovery is making a big shake-up to its ad sales org. Read how its sales chief explained the changes.
▼ + stars: | 2023-07-31 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Discovery is shaking up its ad sales organization. It's also expected to make further staff reductions in ad sales as part of the restructure. Discovery is shaking up its ad sales organization and structure. EVP Jim Keller, who was key to bringing a digital approach to the merged company's newly combined sales team, left, along with Scott Kohn, EVP of national ad sales, and John Dailey, SVP of ad sales. Based on the learnings and successes we've experienced in the past year, this morning we are announcing a new sales structure and strategy.

Persons: It's, Marybeth Strobel, Greg Regis, Regis, Strobel, Ryan Gould, Jon Diament, Sheereen Russell, WBD, Jon Steinlauf, Jim Keller, Scott Kohn, John Dailey, David Zaslav, we've, AE's, Lucia Moses, lmoses Organizations: Warner Bros, WBD, Max, CNN, NBA, NCAA, MLB, NHL

☆ A top Warner Bros. Discovery ad sales exec has exited, and insiders say rumors are flying of layoffs and changes as early as next week
▼ + stars: | 2023-07-26 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Insiders are speculating more layoffs and organizational changes are on the way. The media giant is wrapping its ad sales upfront period, where sales have been soft across the industry. Discovery has parted ways with another top ad sales exec, and insiders are speculating that more layoffs and changes are on the way. He's also a vet of Hulu ad sales and active in digital advertising, serving on the board of trade group the Interactive Advertising Bureau. Keller's exit is the second big WBD ad sales departure this year; John Dailey stepped down from his position as SVP of ad sales in March.

Persons: Discovery's, salespeople, Jim Keller, Jon Steinlauf —, Keller, He's, WBD, Keller didn't, Chris Licht, Steinlauf, David Zaslav, John Dailey Organizations: Warner Bros, Insiders, HBO Max, Hulu, Interactive, CNN, Discovery Locations: Discovery

The cable company Altice USA is said to be weighing a potential sale of Cheddar News, the network once billed as “CNBC for millennials,” less than five years after buying the company. Altice USA has hired Goldman Sachs to help explore strategic alternatives for Cheddar News, according to three people with knowledge of the matter who spoke on condition of anonymity. They cautioned that Altice was still weighing its options and could decide against a sale. Representatives for Altice USA and Goldman declined to comment. Among them: Gas Station TV (which, yes, plays at the pump) and MTV’s college campus network (which Cheddar bought in 2018).

Persons: Goldman Sachs, Altice, Goldman, Patrick Drahi, Jon Steinberg Organizations: Cheddar News, CNBC, millennials, Altice USA, New York Stock Exchange, Gas Locations: USA, Altice, French, Cheddar

☆ Cheddar News was meant to be a digital-media darling that could rival Bloomberg and CNBC. Now it's reportedly considering a sale — here's how the network was pushed to the brink.
▼ + stars: | 2023-07-24 | by ( Reed Alexander | ) www.businessinsider.com time to read: +6 min

The owner of embattled network Cheddar News is reportedly considering selling the seven-year-old startup. NYT's DealBook reported on Monday that Altice USA tapped Goldman Sachs to explore a possible sale. NYT reporters Lauren Hirsch and Ben Mullin noted a sale isn't a foregone conclusion and Altice USA could decide not to proceed. Spokespersons for Altice USA did not immediately respond to Insider's request for comment on Monday morning and a spokesperson for Goldman Sachs had no comment. Check out Insider's exclusive coverage of the chaos at Cheddar News:Are you a Cheddar News or Altice USA insider?

Persons: DealBook, Goldman Sachs, Lauren Hirsch, Ben Mullin, Altice, —, I'd, Baker Machado, Chloe Aiello, Read, I've, Jon Steinberg, Steinberg, Reed Alexander Organizations: News, Telecom, Altice USA, Cheddar News, New York Times, USA, Insiders, Mail, Cheddar Locations: USA, Cheddar, Portugal

☆ Warner Bros. Discovery's ad sales chief is battling for market share at the TV upfronts. Meet his 8 deputies driving the strategy.
▼ + stars: | 2023-05-15 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Discovery's Jon Steinlauf is working to help the company rebuild amid a soft ad market. The task of grabbing a greater share of that ad market falls to chief US advertising sales officer Jon Steinlauf. He'd led its ad sales since 2018, having joined Discovery through its acquisition of Scripps Networks. He also has Warner experience, having served as VP of ad sales for Turner Broadcasting's TBS and TNT networks in the '90s. And it shared with Insider that four of Steinlauf's eight direct reports are women and that 56% of the ad sales leadership team are women.

☆ Warner Bros. Discovery's ad sales chief reveals how he'll tout flexible offerings and 6 new measurement deals to grab brand dollars from TV rivals
▼ + stars: | 2023-05-15 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Discovery ad sales chief Jon Steinlauf has a strategy to grab market share at the TV upfronts. WBD left money on the table at the 2022 upfront, Steinlauf said, and faces a soft 2023 ad market. Discovery's pitch to advertisers was all about the breadth of its newly merged portfolio of news, sports, and lifestyle entertainment. When it comes to WBD's Premiere package of top ad inventory, for example, ad sales chief Jon Steinlauf emphasized how advertisers could customize the mix of programming to meet their wants. Discovery debuted at an inopportune time, just a few weeks ahead of the biggest TV sales event of the year.

☆ Warner Bros. Discovery's sales chief Jon Steinlauf is battling for business in a tough TV ad market. Meet his 8 top deputies.
▼ + stars: | 2023-05-12 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Discovery's Jon Steinlauf is helping the company rebuild but faces a soft ad market. The task of grabbing a greater share of that ad market falls to chief US advertising sales officer Jon Steinlauf. He'd led its ad sales since 2018, having joined Discovery through its acquisition of Scripps Networks. He also has Warner experience, having served as VP of ad sales for Turner Broadcasting's TBS and TNT networks in the '90s. And it shared with Insider that four of Steinlauf's eight direct reports are women and that 56% of the ad sales leadership team are women.

☆ Warner Bros. Discovery's top ad exec details his plans to grab market share from TV rivals with flexible offerings and 6 new measurement deals
▼ + stars: | 2023-05-12 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Discovery ad sales chief Jon Steinlauf shared plans to grab market share at the TV upfront. WBD left money on the table at the 2022 upfront and faces a soft ad market. When it comes to WBD's Premiere package of top ad inventory, for example, ad sales chief Jon Steinlauf emphasized how advertisers could customize the mix of programming to meet their wants. Discovery debuted at an inopportune time, just a few weeks ahead of the biggest TV sales event of the year. WBD dove into its 2022 TV upfront negotiations without the benefit of time to share information across its predecessor companies, causing some blowback among top advertisers.

☆ Born of Grief, a Couple’s Off Broadway Incubator Marks 20 Years
▼ + stars: | 2023-05-08 | by ( Robin Pogrebin | ) www.nytimes.com time to read: +1 min

In 2002, Jenny and Jon Steingart founded the Off Broadway incubator Ars Nova as a way of honoring Jenny’s brother, Gabriel Wiener, who in 1997 died of a brain aneurysm at the age of 26. Now, as the nonprofit theater is marking its 20th anniversary, the couple is facing another wrenching struggle: Jon has A.L.S., the severe neurological disorder also known as Lou Gehrig’s disease. “Every painful experience in my life — if I have to live through it, I am going to come out on the other side with a lesson and a way to give back in some way,” Jenny Steingart said in a recent interview at their home on the Upper West Side. “Because a loss without some meaning behind it is really hard to live with.”So this anniversary, to be celebrated with a gala on Monday, also finds the Steingarts feeling great satisfaction, having created an institution that — in the wake of the 9/11 attacks — has played a crucial role in the professional development of so many artists. Among those who have worked at Ars Nova are Lin-Manuel Miranda, Thomas Kail, Christopher Jackson and Phillipa Soo of “Hamilton” fame; Bridget Everett, the actress and cabaret performer of the acclaimed HBO series “Somebody Somewhere”; and Dave Malloy, who created “Natasha, Pierre & the Great Comet of 1812” at Ars Nova.

☆ Betterment is laying off 28 employees as inflation and market volatility hit the digital wealth firm
▼ + stars: | 2023-02-15 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +3 min

The robo-advisor Betterment is laying off 28 employees and shutting its Philadelphia office. Betterment told employees that rising operating costs and market volatility impacted the firm. The digital wealth management firm Betterment is laying off 28 employees, according to an email its chief executive officer sent to the company on Wednesday. A Betterment spokesperson declined to specify how many employees the company has now and which roles were impacted. "Building something durable and sustainable ultimately takes a long time," Levy told Insider an interview last year.

☆ Cheddar News pushed its anchors to think and act like influencers, insiders say, with some on-air hosts hiring agencies at their own expense to boost their social-media followings
▼ + stars: | 2023-01-18 | by ( Reed Alexander | ) www.businessinsider.com time to read: +4 min

Cheddar News was founded with the vision of taking on business news big dogs like CNBC. But the vision has been beset by staff defections, complaints of low morale, and editorial red flags. Some on-air talent felt "pressure" to act like social-media influencers, Insider's reporting showed. Sign up for our newsletter to get the news, trends and strategies that advertising and media pros want to know — delivered weekly to your inbox. An Altice spokesperson said in an emailed statement earlier this month that there were "inaccuracies" in Insider's reporting, but did not provide specifics.

☆ Inside the turmoil at Cheddar News, where an editorial 'identity crisis' and misfired social media strategy divided the newsroom and drove staffers to the exits
▼ + stars: | 2023-01-09 | by ( Reed Alexander | Elaine Low | ) www.businessinsider.com time to read: +21 min

16 insiders described unrest and discord partly fueled by the site's revamped social media strategy. Malaspina's plan was for Cheddar to look and feel like a social media platform and to position its stars as influencers. Concerns inside Cheddar intensified when Malaspina, a newcomer to journalism, refocused its coverage on social media content. Multiple segments and even an entire show — "Trending" at 7 p.m. — centered on social media trends and TikTok challenges. It's very troubling to think that news professionals would inflate or distort their social media followings.

☆ CNN CEO Chris Licht is facing an increasingly angry newsroom as more layoffs loom, plans are murky, and staff have lost confidence after 'horrible programming decisions'
▼ + stars: | 2022-11-04 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +9 min

CNN CEO Chris Licht has been faulted by the newsroom for too many changes and not enough communication. Chris Licht needs a hit. "People are starting to believe there is no plan," said one executive familiar with the workings of CNN. "Is Chris Licht going to be there for them and push back on government officials? Many on the ad sales team that was formerly dedicated to CNN have either been pink-slipped or joined the broader ad sales group under WBD ad honcho Jon Steinlauf.

AdvertisementThe online investment platform has created a tool that will be available to registered investment advisers, allying itself with Fidelity Institutional Wealth Services to promote and distribute the feature. The new product, called Betterment Institutional, allows a financial adviser to provide clients with a Betterment portfolio branded to their own practice, and then help manage that client's investments through the platform. He points out that Betterment Institutional should help advisers focus on their areas of expertise, while leaving the little stuff to Betterment. BettermentDavid Canter, executive vice president of practice management and consulting at Fidelity Institutional Wealth Services, has worked with Betterment on the launch. This article has been updated to clarify that Betterment Institutional will be available to financial advisers independent of Fidelity.

Persons: we've, Jon Stein, Stein, David Canter, they've, Canter, It's Organizations: Fidelity Institutional Wealth Services, Fidelity

First, it's quite likely your friends don't know what the heck they are talking about, whether it comes to recommending specific investments or brokers. AdvertisementHowever, the best financial advisors or broker doesn't have to be Bernie Madoff to tell you your friend's advice sucks. Take a look at a study entitled The Market for Financial Advice: An Audit Study, released earlier this year by the National Bureau of Economic Research. Related storiesYou just know that some of these testers were recommending their new guy to their friends too. The best financial advice is boring.

Persons: Warren Buffet, Bernie Madoff, Sendhil Mullainathan, Sohn, Jon Stein, Jon Organizations: Survey, Consumer Finances, Madoff, National Bureau of Economic Research, Harvard University, AARP, Consumer Federation of America, Investment Advisors, Sohn Investment, Securities Representative, Harvard University ( Economics, Columbia Business School

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