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Industry insiders say ESPN's deal with Penn Entertainment could signal a potential ESPN spinoff from Disney. Disney announced a $2 billion deal with casino operator Penn Entertainment to create ESPN Bet. ESPN's $2 billion Penn Entertainment deal rocked the sports-betting world — and also renewed speculation among industry insiders that Disney could spin off its media crown jewel. To be sure, some industry watchers have questioned how the deal positions ESPN's ability to catch up in the sports-betting race. According to the American Gaming Association, sports betting grossed $7.5 billion in gaming revenue in 2022, up 75% from 2021.
Persons: Bob Iger, Jonathan Miller, Penn, Alex Ilosevich, it's, It's, Iger, — DraftKings, sportsbooks, LightShed, Peyton Manning's, Ashley Rodriguez Organizations: Industry, Penn Entertainment, ESPN, Disney, ESPN Bet, what's, Hearst, CNBC, NFL, NBA, MLB, Integrated Media Co, Caesars Entertainment, Penn, LightShed Partners, American Gaming Association, Amazon, Comcast, Peyton Manning's Omaha Productions, Front Office Sports Locations: Saudi
Many view the deal as a "win-win" for ESPN, Penn, and its former partner Barstool Sports. Industry insiders say the deal could signal a potential ESPN spinoff, disrupt competition, and more. Gambling industry insiders thought Disney CEO Bob Iger might make quick work of setting a sports-betting strategy when he took back the reins of the ESPN owner late last year. Here's what industry insiders are saying about the deal:1. Industry insiders like affiliate marketing company Gambling.com's Max Bichsel aren't sure about that prediction.
Persons: Barstool, Bob Iger, Penn, sportsbooks, who's, Chris Grove, Dave Portnoy, Portnoy, Fox's, Sharp, Sharp Alpha Advisor's Lloyd Danzig, Dan, Danzig, Brandon Nispel, he's, Nispel, Kimberly White, FanDuel, BetMGM, Zachary, Gambling.com's Max Bichsel aren't, Bichsel, I'm, Grove, It's, DraftKings, let's, FuboTV, hasn't, Fox Bet, Ed Moed, Fox, Dan Wasiolek, Wasiolek Organizations: ESPN, Penn Entertainment, Penn, Barstool Sports . Industry, ESPN Bet, Investors, Acies Investments, Barstool Sports, Sharp Alpha, Disney, KeyBanc, CFRA Research, . Industry, ESPN —, Fox, Maxim Magazine, Sports, Fox Bet, Morningstar Locations: Macquarie, Canada
Dave Portnoy is once again the owner of Barstool Sports. Portnoy bought the company stock back from PENN Entertainment after a deal initiated in 2020. PENN had finalized its complete acquisition of Barstool this year in the deal worth $551 million. Dave Portnoy is once again the owner of Barstool Sports. On Tuesday, Portnoy, who founded Barstool in 2003 said in a video posted to Twitter: "PENN Entertainment and Barstool Sports have gone our separate ways.
Persons: Dave Portnoy, Portnoy, PENN, Penn, Barstool, David Portnoy, Barstool hasn't, Ben Mintz, Penn's Organizations: Barstool Sports, PENN Entertainment, Morning, Barstool, Twitter, Disney's ESPN, ESPN BET, Penn, ESPN, New York Times, Action Network, Sports, PENN National
Embattled digital-media company Vinco Ventures has been suspended by Nasdaq after a board exodus. It became a meme stock in 2021 after teaming up with the ex-chairman of MoviePass and touting buzzy acquisitions. The future of Vinco Ventures, the publicly traded media venture with ties to ex-MoviePass chairman Ted Farnsworth, is hanging in the balance after a series of buzzy deals collapsed and a board exodus has put the stock on the brink of a Nasdaq delisting. Shares of Vinco have nosedived 99% since their recent peak in September 2021, when meme-stock investors helped propel the stock. Farnsworth led the 2017 acquisition of MoviePass as chairman and CEO of the then-publicly-traded company Helios & Matheson Analytics, or HMNY for short.
Persons: Ted Farnsworth, we've, Shadwrick Vick, Farnsworth, Vick, It'd, Vinco, They're, Mitch Lowe, Lowe, MoviePass, Chris Bond, Mr Organizations: Vinco Ventures, Nasdaq, Zash Global Media, Entertainment, National Enquirer, Street Journal, MoviePass, Helios, Matheson Analytics Locations: Vinco, Clark County , Nevada
The Furbo 360° Dog Camera is down to $145 on Amazon, which is a great deal that we don't usually see outside of the holidays. This is also a rare price, as the camera usually retails for $210. The Furbo 360° Dog Camera is similar to the original Furbo camera we've reviewed, but that one lacks a camera that rotates a full 360 degrees. The Furbo 360° Dog Camera is compatible with Furbo Dog Nanny, which is a subscription service offering additional features to maximize your experience. The Furbo 360° Dog Camera is a great price on Prime DayHere's why you should buy the Furbo 360° Dog Camera over the originalThe Furbo 360° Dog Camera takes the best functions of the Furbo Dog Camera and makes them better.
Persons: Ashley Rodriguez, it's, Rodriguez Organizations: Amazon Prime
Here are pitch decks 10 sports startups used to raise millions in Series A and Seed rounds. This has opened the opportunity for startups to build marketplaces or creator tools to help student-athlete creators. Insider talked with a handful of sports startup founders who've pitched their startups to investors about their process. They broke down the pitch decks they used to secure millions of dollars in funding. Read the pitch decks that helped 10 sports-focused startups raise millions of dollars:This post has been updated with new information.
Persons: It's, Kevin Kim, Kim, who've Organizations: Sports, Venture, Technology, Labs, NBA Locations: California
Here's how to start building, promoting, and monetizing OnlyFans content, according to creators. Creators Insider spoke with said they'd found success cross-promoting their OnlyFans content on Twitter, Reddit, and TikTok, among other platforms. Subscriptions are the most basic option for creators looking to monetize their OnlyFans content. The remaining 10% of the accounts earnings comes from tips, which are another revenue stream for OnlyFans creators. See 3 examples of 'tip menus' from OnlyFans creators who shared their strategies for using them
Persons: OnlyFans, Chloe Sasha, it's, Anne, Bryce Adams —, , Jay, Bryce Adams, Mrs, Robinson, they'd, Reddit, Farrah, Read, Morgan Edwards, Kitty K, Edwards, That's, Alanah Cole, Cole Organizations: OnlyFans, Twitter, YouTube Locations: OnlyFans
The most explosive season of Bravo's "Vanderpump Rules" ended last week. The world of "Vanderpump Rules" was rocked in March when longtime cast member Ariana Madix discovered her partner of nine years, Tom Sandoval, had been having an affair with one of her close friends, Raquel Leviss. One Bravo-focused account seized the #Scandoval moment and gained 44,000 Instagram followersBravo by Betches, an Instagram account devoted to all things Bravo from Betches Media, had its biggest growth month ever during March. While growth has slowed since peak #Scandoval, the women's media company has managed to sustain some of the Vanderpump bump. Before #Scandoval, the audience for "Vanderpump Rules" had been waning and Bravo by Betches wasn't posting about the show as much.
Persons: Betches, Ariana Madix, Tom Sandoval, Raquel Leviss, dishing, Bravo, Madix, Sami Sage, Daisy Kelliher, Dylan Hafer, , It's, lt's, Hafer Organizations: Bravo, Betches, Betches Media, Apple, Housewives, New Locations: Orange County, New York
TikTok is testing a new shopping section in the UK version of its app called Trendy Beat. TikTok may be preparing to sell its own products in the US, per a new trademark application filed by a subsidiary of its parent company ByteDance. It filed a trademark application in the US for Trendy Beat on May 30, listing mostly apparel items such as clothing, bathing suits, and footwear as goods associated with the mark. A spokesperson for TikTok told Insider product selections for its Trendy Beat feature may be informed by popular trends on the platform like #TikTokMadeMeBuyIt. It's turned to the UK and Indonesia to test e-commerce features first.
Persons: TikTok's, Patrick Nommensen, TikTok, It's, Nommensen, Marta Biino, Emma Cosgrove Organizations: Financial Times, Beat, YouTube Locations: Indonesia, Asia
A bipartisan bill reintroduced this week would regulate how companies including TikTok share US data. TikTok has faced increased scrutiny around its ties to China, as well as calls for a US sale or ban. TikTok may have a path forward in the US without a sale or ban. TikTok has faced increased scrutiny from US lawmakers around its ties to China, where its parent company, ByteDance, is based. At the core of the issue are concerns that TikTok's Beijing-based parent company could be compelled to give the Chinese Community Party access to US user data.
Persons: TikTok, Sen, Ron Wyden, Cynthia Lummis, Biden, ByteDance, walling, It's, Wyden Organizations: Republican, CNN, Street, Foreign Investment, Congress, Wall, Chinese Community Party, CCP, Oracle Locations: China, Oregon, Wyoming, Montana, TikTok, Beijing, Texas, Russia
Netflix may be ready to get into live sports after its "Love Is Blind" reunion livestreaming snafu. Netflix may be looking to a sports event to prove its livestreaming chops after it fumbled a recent live reunion special of the reality show "Love is Blind." The streaming company is planning a celebrity golf event as its first foray into live sports, the Wall Street Journal reported on Tuesday. But its most recent livestreaming attempt, a reunion special for its hit reality show "Love Is Blind," was a spectacular failure. The company has yet to ink any live-sports pacts, finding success instead with docuseries around sports like Formula 1, professional golf, and professional tennis.
Persons: Chris Rock's, Greg Peters, Netflix's, Chris Rock, Peters Organizations: Netflix, Street Journal, Morning, Wall Street, Formula, ESPN
TikTok is testing a visual-search tool in its shopping tab that could put more pressure on Google. A May analyst report said TikTok may be "the most imminent threat to Google's Search dominance." TikTok is testing a new visual-search tool within its shopping feature that could dial up the pressure on search-giant Google. The short-video app has already become a go-to search engine for Gen Zers looking for restaurants or how to do things, threatening Google's search dominance. "Younger Gen Z users don't have the baggage and memory of opening the browser and searching on Google," he continued.
Persons: Zers, TikTok, Bernstein, Mark Shmulik, ChatGPT, Shmulik, They're, Z, Yelp, Morgan Stanley Organizations: Google, Tech, YouTube, Bloomberg Locations: Asia, TikTok
Peacock seized on the recent runaway success of "Vanderpump Rules" to reach new audiences. It also shows the potential for Peacock's reality-TV shows compared to those on other top streamers. The surge shows how Peacock — whose Instagram bio still reads: "Why are you reading this bio instead of watching Vanderpump Rules rn?" Thanks in part to its Bravo catalog, Peacock is in one of the best positions to capitalize on its unscripted TV pile. Recent Parrot Analytics data first published by TVREV shows Peacock had the second-largest US share of demand for unscripted TV programming during Q1, and ample supply.
Persons: Peacock, Jax Taylor, Brittany Cartwright, Lisa Vanderpump, Ariana Madix, Tom Sandoval, Raquel Leviss, we've, I've, TVREV, HBO Max, Scandoval Organizations: West Hollywood, Housewives, Beverly, Bravo, Housewives of, Warner Bros, Discovery, HBO, Netflix, Hulu Locations: West, Beverly Hills, Jersey
Nike is striking new deals with retailers as brands realize the DTC model isn't all it's cracked up to be. Designer Brands, Macy's, and Foot Locker have each announced expanded relationships with Nike. But, more recently, Nike has expanded partnerships with retailers, including Macy's and DSW owner Designer Brands, the Wall Street Journal reported. In a May presentation, Daniel Heaf, vice president of Nike Direct, said, "People always ask me: Are you a direct business or a wholesale business? Nike's wholesale business grew faster than its direct business between September and November, showing it's still key to the overall business.
Persons: Locker, , Brands, Macy's, Matt Friend, Daniel Heaf, it's, Simeon Siegel, Siegel Organizations: Nike, Brands, Service, Wall Street Journal, Adidas, BMO Capital Markets, DTC
Peacock seized on the recent runaway success of "Vanderpump Rules" to reach new audiences. Data shows how the streamer's marketing and programming efforts to capitalize on the show's high-profile drama have played out. It also shows the potential for Peacock's reality-TV shows compared to those on other top streamers. The surge shows how Peacock — whose Instagram bio still reads: "Why are you reading this bio instead of watching Vanderpump Rules rn?" Recent Parrot Analytics data first published by TVREV shows Peacock had the second-largest US share of demand for unscripted TV programming during Q1, and ample supply.
Persons: Peacock, Jax Taylor, Brittany Cartwright, Lisa Vanderpump, Ariana Madix, Tom Sandoval, Raquel Leviss, we've, I've, TVREV, HBO Max, Scandoval Organizations: West Hollywood, Housewives, Beverly, Bravo, Housewives of, Warner Bros, Discovery, HBO, Netflix, Hulu Locations: West, Beverly Hills, Jersey
Netflix shareholders on June 1 voted against pay packages for top execs totaling up to $109 million. The WGA had urged Netflix investors to reject the pay packages amid the Hollywood writers' strike. Netflix shareholders voted on June 1 by a nearly three-to-one margin against rich 2023 pay packages for the company's top executives, according to a recent company filing. Amid the ongoing Hollywood writers' strike, the Writers Guild of America had called on Netflix investors to reject this year's executive pay raises. The prelim ary results of the advisory vote were in favor of the executive pay plan, the company announced the day of the meeting.
Persons: Ted Sarandos, Greg Peters, Reed Hastings, Meredith Stiehm, Peters Organizations: Netflix, WGA, Hollywood, Morning, Writers Guild of America, Hastings, Comcast
The motorsport is expanding its media reach after the docuseries "Drive to Survive" brought it to new audiences. Felicity Jones is set to star in and co-produce the show, which comes from Bedrock Entertainment. Formula 1 is moving into scripted TV following its success with the docuseries "Drive to Survive" with a new family drama set in the racing world. As with "Drive to Survive," F1 plans to offer producers access to the sport to help make the show a success. Bedrock Entertainment and F1 said they will "leverage the combined access and power of F1 to create a seamless and authentic world, blending fiction with the real world."
Persons: Felicity Jones, Tony, Dan Sackheim, Felicity Jones —, Brad Pitt, Damson Idris, Joseph Kosinski, Jerry Bruckheimer, Lewis Hamilton, Peyton Manning's, Will Arnett, Daniel Ricciardo Organizations: Bedrock Entertainment, ITV Studios, Entertainment, Pictures, B Entertainment, Netflix, Peyton Manning's Omaha Productions, ESPN, Paramount Locations: Hollywood, Austin
CNN CEO Chris Licht stepped down on Wednesday following a damning profile in The Atlantic. "The only person who hates bad press more than Chris Licht is ... David Zaslav," said one ex-CNN staffer. CNN CEO Chris Licht has stepped down after a damning profile in The Atlantic signaled the end to a tumultuous 14 months on the job. Licht stepped into the role in April 2022 after the merger that formed Warner Bros. David Zaslav, the head of the parent company, and John Malone, a big investor, have very specific *editorial ideas for how news should work.
Persons: Chris Licht, David Zaslav, Jeff Zucker, Licht, Oliver Darcy, Brian Stelter, Jamie Stelter, Brian, Kara Swisher, " Swisher, CNN's, Zucker, Glenn Greenwald, Edmund Lee, weren't Licht's, Greenwald, Lee, John Malone Organizations: CNN, Morning, Warner Bros, Wall Street Journal, NY1, Tech, New York Times Locations: Trump
"The Mother," starring Jennifer Lopez, is one of Netflix's most watched movies of all time. The action film cracked the top 10 list during the week of May 29 after debuting earlier in the month. Jennifer Lopez's action film "The Mother" is one of Netflix's most watched movies of all time. Lopez stars in the film as an assassin on the run who comes out of hiding to protect her daughter. Here's the list of Netflix's 10 most watched English-language films of all time:
Persons: Jennifer Lopez, Jennifer Lopez's, Nick Caro, Gal Gadot, Dwayne Johnson, Ryan Reynolds, Lopez, Arnold Schwarzenegger Organizations: Netflix, Morning, Mother's
Disney outlined its vision Monday for how virtual reality could change the way we watch sports. CEO Bob Iger shared the "sneak peek" as partner Apple unveiled its upcoming Vision Pro headset. CEO Bob Iger said at Apple's 2023 Worldwide Developers Conference, where it unveiled its new Vision Pro mixed-reality headset, that Disney will be developing new entertainment experiences for the platform. It's unclear how much of this viewing experience will be available when the Vision Pro is slated to start shipping early next year. The company did not discuss plans for sports on the Vision Pro.
Persons: Bob Iger, Apple, Iger Organizations: Disney, Morning, ESPN, Vision, Apple, Iger, NBA, NHL, MLB, Petronas
Netflix has a top team of business leaders who debate and drive the company's biggest decisions. This "Lstaff" includes co-CEOs Greg Peters and Ted Sarandos plus execs leading new areas like gaming and ads. When Netflix is faced with a big, agenda-setting decision, it convenes a special team of business heads to debate the issue at hand. This group, which numbers 25, has helped shape major company moves like its expansion into mobile games and advertising. Scroll down to read about the people on Netflix's Lstaff, listed in alphabetical order, and the perspective each brings.
Persons: Greg Peters, Ted Sarandos, , Reed Hastings, Bela Bajaria, Scott Stuber, Kim —, Vernā Myers, Jeremi Gorman, Mike Verdu, Spencer Wang Organizations: Netflix, New Zealand Locations: Korea, Japan, Southeast Asia, Australia, New
Netflix shareholders on Thursday voted against pay packages for top execs totaling up to $109 million. The WGA had urged Netflix investors to reject the pay packages amid the Hollywood writers' strike. Netflix shareholders on Thursday voted against executive pay packages totaling up $109 million for the company's top leaders, several outlets including the New York Times reported. Amid the ongoing Hollywood writers' strike, the Writers Guild of America had called on Netflix investors to reject this year's executive pay raises. Last year, only 26.9% of voted shares approved the pay packages for Netflix's top executives, which led the company to hold discussions with investors, according to the annual proxy statement.
Persons: Ted Sarandos, Greg Peters, Reed Hastings, Meredith Stiehm, Peters Organizations: Netflix, WGA, Hollywood, Morning, New York Times, Writers Guild of America, Hastings, Comcast
Entain is nearing a deal to buy pricing and analytics company Angstrom Sports, sources say. Pricing and analytics companies are attracting M&A buzz in sports betting. European gambling operator Entain is nearing a deal to buy the London-based pricing and analytics company Angstrom Sports, three people familiar with the discussions told Insider. The deal could be worth around $200 million, though the terms have not yet been agreed upon, the people said. Pricing and analytics companies are among several smaller pockets of the sports-betting industry where M&A is heating up.
Fanatics' first big sports-betting acquisition could be the spark that reignites M&A in the sector. Industry insiders speculate on what deals could come next. It's go time for M&A in sports betting as newcomer Fanatics makes its first big acquisition in the sector and rumors fly about who will be snapped up next. On Sunday, Australia's PointsBet announced it had agreed to sell its US operations to Fanatics' betting and gaming division for about $150 million in cash. "I think Fanatics smells blood in the water," said one industry consultant who had been following Fanatics closely.
ByteDance allowed a Chinese Communist Party unit to censor content and access data, a new lawsuit alleges. ByteDance built a "backdoor channel" to enable CCP access to US user data, the suit alleges. An explosive new lawsuit claims TikTok owner ByteDance built a "backdoor channel" in its code that allowed Chinese Communist Party members access to user data hosted in the US. Yu is a former engineering lead for ByteDance in the US who worked at the company between 2017 and 2018. The complaint alleges the "Committee continued to have access" to US user data even after ByteDance walled off access for individual engineers in China.
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