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☆ A Shamrock partner explains how the $4 billion investment firm stays on top of media and entertainment, where 'every day there's a disruption'
▼ + stars: | 2023-09-22 | by ( Reed Alexander | ) www.businessinsider.com time to read: +4 min

"Every day there's a new article or a story or disruption taking place," Andrew Howard, a partner at Shamrock Capital, told Insider this summer about the firm's media strategies. Shamrock, which is based in California, pursues strategies in the private markets, mainly through equity or debt-based investments. Founded as a family office in the late 1970s for members of the Disney family, the firm has blossomed into an institutional investor exclusively focused on media, entertainment, and communications. Howard likened the speed of today's transformations to the dot-com arms race that defined the Internet landscape two decades ago. "We're coaching kids whose parents are running major studios and companies within media and entertainment," Howard said.

Persons: Andrew Howard, Shamrock, Howard, we're, effectuate Organizations: Shamrock Capital, Disney Locations: California, Los Angeles

His son, Lachlan Murdoch, will become the sole chairman of News Corp and continue as the chair and CEO of Fox, the companies said on Thursday. The transition solidifies Lachlan's role as the leader of the media empire, putting to rest questions of succession within the Murdoch family. Lachlan was appointed CEO of the new Fox Corp. Murdoch controls News Corp and Fox Corp through a Reno, Nevada-based family trust that holds a roughly a 40% stake in voting shares of each company. The shares in Fox and News Corp owned by Murdoch’s children through the trust are a combination of both classes of shares.

Persons: Rupert Murdoch, Rafael Nadal, Kevin Anderson of, Mike Segar, Lachlan Murdoch, Murdoch, Lachlan, Fox, Brian Wieser, James, Chloe, Grace, Wendi Deng, Jonathan Miller, Sumner Redstone, Ted Turner, John Malone, Miller, Helen Coster, Aditya Soni, Dawn Chmielewski, Krishna Chandra Eluri, Saumyadeb Chakrabarty, Nick Zieminski Organizations: Fox News, Fox Corp, News Corp, Fox, Dominion, Systems, Wall, Walt Disney Co, Lupa Systems, Corp, Thomson Locations: York, U.S, Kevin Anderson of South Africa, Australia, United States, American, Reno , Nevada, London, New York, Bengaluru, Dawn, Los Angeles

☆ Rupert Murdoch completes the real-life 'Succession' story. Here's how his son Lachlan rose to the top.
▼ + stars: | 2023-09-21 | by ( Madeline Berg | ) www.businessinsider.com time to read: +6 min

Rupert Murdoch announced he is stepping down as the leader of Fox and News Corp.His elder son, Lachlan, will take over both companies, ending a decades-long family drama. She quit the family business years ago. AdvertisementAdvertisementThat left Lachlan and James, who have passed the title of successor between the two of them over the decades. For much of the 2000s and 2010s, it seemed as if James would eventually take over the family business. AdvertisementAdvertisementMeanwhile, Murdoch's favorite son, Lachlan, has been a Roman Roy-esque wild card, with the same right-wing politics as the "Succession" character.

Persons: Rupert Murdoch, Lachlan, HBO's, Lachlan Murdoch, Murdoch, —, Logan Roy, I'm, Murdoch's, Michael Wolff, — Elisabeth, James —, Murdoch didn't, Jonathan Mahler, Jim Rutenberg, Elisabeth, Siobhan Roy, James, Kendall Roy, Wolff, Kendall, Roman Roy, Fair's Gabriel Sherman, Lachlan weren't, Sherman Organizations: Fox, News Corp, Service, Fox Corp, Fox News, Street, New, New York Post, Fair, New York Times, Wall, Century Fox, latter's, New York Magazine Locations: Wall, Silicon, New York, Roman, Australia

☆ Rupert Murdoch steps down as Fox and News Corp. chairman, sending shockwaves through media and politics
▼ + stars: | 2023-09-21 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

New York CNN —Rupert Murdoch, the powerful right-wing media mogul who built and oversaw one of the world’s most influential news empires, announced Thursday that he will step down as chairman of his companies, Fox Corporation and News Corporation. Lachlan Murdoch steps inLachlan Murdoch will take over as chairman of Fox and News Corporation. Evan Agostini/Invision/APStepping into his shoes, Murdoch’s eldest son, Lachlan, who already serves as chief executive of Fox Corporation, will become sole chairman of both companies. In 1986, Murdoch got into the television business after he purchased several US television stations and created Fox Broadcasting. In recent years, under Murdoch, Fox News has advanced baseless conspiracy theories, including the Covid-19 pandemic and the 2020 presidential election.

Persons: Rupert Murdoch, ” Murdoch, Murdoch, Donald Trump’s, Lachlan Murdoch, Evan Agostini, Lachlan, ”, Rupert, “, ” Rupert Murdoch, Trump, oilman Marvin Davis, Donald Trump, Bill Hemmer, Hemmer, Dana Perino Organizations: New, New York CNN, Fox Corporation, News Corporation, “, ”, Fox and News Corporation, Wall Street Journal, New York, Republican Party, Fox News, CNN, Australian, UK’s, The Times, Sunday Times of, Century Fox, Fox Broadcasting, Sky, Comcast, Fox, Disney, Fox Sports, Fox News Fox News, Voting Systems, Dominion Locations: New York, cahoots, Sunday Times of London, Britain, America

NEW YORK (AP) — Rupert Murdoch, the 92-year-old Australian media magnate whose creation of Fox News made him a force in American politics, is stepping down as leader of both Fox's parent company and his News Corp. media holdings. Fox said Thursday that Murdoch would become chairman emeritus of both companies, effective at board meetings in November. Stock in Fox Corp., while positive this year, began to decline early in 2022, due in part to lawsuits and investor anxiety over the loss of viewers to smaller media outlets. While Murdoch never ran for political office, politicians in the United States and Britain anxiously sought his approval. Murdoch dismissed them as isolated instances that were “largely political because we're conservative.”Shares of News Corp. and Fox rose Thursday in early trading.

Persons: — Rupert Murdoch, Fox, Murdoch, Lachlan, Lachlan Murdoch, Rupert Murdoch, Tucker Carlson, Michael Wolff, ”, Paolo Pescatore, ” Murdoch, James, Elisabeth, Prudence, Donald Trump, Wolff, Trump, Ron DeSantis, DeSantis, Britain's, Roger Ailes, Bill O'Reilly, ___, Kelvin Chan, Jill Lawless Organizations: Fox News, News Corp, Fox Corp, Fox, ABC, CBS, NBC, Street Journal, New York, Walt Disney Co, Marvel, Geographic, Channel, CNN, MSNBC, Stock, “, Foresight, HBO, Forbes, Florida Gov, Sky, Sunday Times, Sun Locations: Adelaide, Australia, United States, Britain, Sky, London

☆ As Hollywood strikes press on, Wall Street weighs in on the outlook for TV, streaming stocks
▼ + stars: | 2023-09-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +10 min

At the same time, legacy media companies face off against another well-known demon: cord-cutting. Technology companies such as Apple and Amazon can lean on their respective hardware and e-commerce businesses, said Paul Fanelli, a research analyst at Gabelli Funds. Even so, Wall Street sees only a handful of pure-play winners in the TV and streaming space winning consumer attention over the long run. Already, the technology companies have shown some promise. Consumers are increasingly forgoing pay TV packages from cable companies and opting for bundles from companies like Alphabet, he said.

Persons: Rosenblatt, Barton Crockett, It's, Netflix's, Ken Leon, Hollywood's, Leon, Jamie Lumley, Paul Fanelli, it's, Apple's, Amazon's, That's, Needham, Laura Martin, Martin, —, John Hodulik, CNBC's, bode, Crockett, NBCUniversal's Peacock, Brandon Nispel, Nispel, Disney's hasn't, Fanelli, that's Organizations: Netflix, Apple, Paramount, Sky, Third, Gabelli, Warner, UBS, ESPN, Fox, NFL, Hulu, YouTube, KeyBanc, Comcast, Disney, Warner Bros, Max, DIS, Rosenblatt, ABC, Nexstar, CNBC Locations: France, United Kingdom

Legacy media companies like Disney , Warner Bros. Netflix was the first streamer to report a loss in subscribers in 2022, sending its stock and other media companies spiraling. Media companies also have begun slashing content spending budgets. Yet streaming remains the focus for all of these companies as consumers rapidly cut the cord and opt for streaming. Legacy media companies scrambled to follow suit, unsure if the model actually worked.

Persons: Mario Tama, it's, Steven Schiffman, NBCUniversal, Bob Iger, Ken Solomon, Solomon, Marc DeBevoise, John Hodulik, hasn't, —, Hulu —, Peacock, Max —, HBO Max, — Ryan Murphy, Shonda, Kenya Barris, David Benioff, Weiss —, Jonathan Miller, Shonda Rhimes, Presley Ann, Patrick McMullan, Bart Simpson, esports, DeBevoise, Peter Csathy Organizations: Netflix, Getty, North, Georgetown University, Legacy, Disney, Warner Bros, Discovery, Paramount, Media, Marvel, Tennis Channel, Sinclair, Companies, UBS, CBS, HBO, Max, Hulu, Integrated Media, Trek, Universal Studios Television, Getty Images Disney, Wars, Fox, Hollywood's, Creative Media, Charter Communications, ESPN, & $, + + Locations: Los Angeles, North American, J.J, Abrams, Kenya, Beverly Hills , CA, Georgetown

☆ Cable TV Is on Life Support, but a New Bundle Is Coming Alive
▼ + stars: | 2023-09-14 | by ( Benjamin Mullin | More About Benjamin Mullin | ) www.nytimes.com time to read: 1 min

A funny thing happened in recent weeks, as the media industry wrung its hands over the long-anticipated death of the lucrative cable-TV bundle: Hundreds of thousands of people turned to a different bundle. When the standoff between Disney and the cable giant Charter left him among nearly 15 million cable subscribers without ESPN and many other channels, he took matters into his own hands. At Charter’s suggestion, Mr. Antoniacci, 74, downloaded FuboTV, a streaming service that offers channels including ESPN. “It has almost everything that I require,” said Mr. Antoniacci, who signed up for a free trial. “It’s a cable substitute, and it appears to be working,” he added.

Persons: Christopher Antoniacci, Anna Maria, Antoniacci, ”, “ Organizations: Disney, ESPN Locations: Fla

☆ Chuck Schumer hosts tech companies Google, Meta, Microsoft, and X over AI regulations including Chat GPT
▼ + stars: | 2023-09-13 | by ( Brian Fung | ) edition.cnn.com time to read: +8 min

Among those attending the in-person event will be the CEOs of Anthropic, Google, IBM, Meta, Microsoft, Nvidia, OpenAI, Palantir and X, the company formerly known as Twitter. But crucially, the event could also shed light on the political feasibility of a broad, sweeping AI law, setting expectations for what Congress may achieve. IBM CEO Arvind Krishna will also seek to “demystify” a widely held impression that AI development is done only by a handful of companies like OpenAI or Google, Padilla said. Some authors have sued OpenAI over those claims, while others have asked in an open letter to be paid by AI companies. New AI legislation could also serve as a potential backstop to voluntary commitments that some AI companies made to the Biden administration earlier this year to ensure their AI models undergo outside testing before they are released to the public.

Persons: Bill Gates, Eric Schmidt, Chuck Schumer, he’s, Mark Zuckerberg, Elon Musk, ”, Christopher Padilla, Padilla, Arvind Krishna, Sam Altman, Clement Delangue, OpenAI, Maya Wiley, they’ve, Wiley, “, ” Wiley, Schumer, South Dakota Republican Sen, Mike Rounds, New Mexico Democratic Sen, Martin Heinrich, Indiana Republican Sen, Todd Young —, “ It’s, Biden Organizations: Washington CNN, Anthropic, Google, IBM, Meta, Microsoft, Nvidia, Twitter, Senate, CNN, The New York Times, Disney, Conference, Civil, Human, South Dakota Republican, New, New Mexico Democratic, Indiana Republican, Capitol, European Union Locations: Washington, New Mexico

☆ An explosive Elon Musk biography is just hitting shelves. But the book’s acclaimed author is already walking back a major claim
▼ + stars: | 2023-09-11 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

CNN —Walter Isaacson’s highly anticipated biography on Elon Musk is hitting shelves on Tuesday — and he is already walking back a major claim. Over the weekend, The Post updated the excerpt it had published and offered a correction to its readers. “After publication of this adaptation, the author learned that his book mischaracterized the attempted attack by Ukrainian drones on the Russian fleet in Crimea,” the correction stated. This version reflects that change.”CNN also updated its story on Monday, noting Isaacson had backpedaled his initial claims. “After this story published, Walter Isaacson clarified his explanation regarding Elon Musk restricting Ukrainian military access to Starlink, a critical satellite internet service,” an editor’s note said.

Persons: CNN — Walter Isaacson’s, Elon Musk, —, Isaacson, Musk, “, Vladimir Putin’s, Starlink, ” Musk, ” Isaacson, Steve Jobs, Benjamin Franklin, Albert Einstein, Simon & Schuster, Newsrooms, “ Musk, Walter Isaacson, ” Organizations: CNN, Elon, Eastern, Russian, SpaceX, Washington Post, Tulane University Locations: Russian, Crimea, Crimean, ”, Ukrainian, Sevastopol, Washington

☆ The Charter-Disney showdown didn't transform the TV industry, after all, despite the hype
▼ + stars: | 2023-09-11 | by ( Alex Sherman | ) www.cnbc.com time to read: +4 min

Charter and Disney have reached a rights deal, and the media industry was duped. Slate's headline the same day honed in further: "Disney Is in a Fight That Might Change TV Forever." But there's a reason why Dolan discussed this concept a decade ago and still linear cable TV exists. Charter still makes money by offering linear cable TV. Comcast , the largest U.S. cable TV provider, owns a slew of cable networks.

Persons: Devin Singletary, Michael Morris, Chris Winfrey, Winfrey, Goldman, CNBC's David Faber, Aaron Rodgers, haven't, Jim Dolan, Dolan, It's, it's Organizations: Buffalo Bills, New York Jets, Highmark, Charter, Disney, Street Journal, Marks, CNBC, Guggenheim Securities, ESPN, ABC, U.S, Cablevision, Comcast, DirecTV Locations: Orchard Park , New York, Goldman Sachs, New York

☆ UBS shares the only 4 media stocks worth buying now as the cable bundle collapses, the Disney-Charter conflict gets ugly, and streaming growth slows
▼ + stars: | 2023-09-06 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Media analysts say this dispute could be the beginning of the end for the cable bundle. After a decade of steady decline, the pay TV bundle now appears to be on life support. Charter refuses to pay Disney's higher asking price for its family of networks, including ESPN, without including Disney+ and Hulu in the bundle. The cable giant also wants its customers to have a Disney-free option for a reduced price, which may also be a non-starter. Otherwise, it plans to send its pay TV customers elsewhere.

Persons: Tim Nollen, That's, Jessica Reif Ehrlich, John Hodulik, Hodulik Organizations: Disney, Media, UBS, ESPN, Hulu, Macquarie, Bank of America, Netflix, Charter Locations: imploding

☆ Warner Bros. Discovery CEO David Zaslav says writers, actors strikes need to end as media industry is in a transitional moment
▼ + stars: | 2023-09-06 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

The media industry is in a transitional moment — from streaming to traditional TV — and the focus needs to be on ending the writers and actors' strikes, Warner Bros. The comments came a day after Warner Bros. The work stoppage has halted production on Hollywood sets, impacting companies like Warner Bros. Warner Bros. Still, like its peers, Warner Bros.

Persons: David Zaslav, Zaslav, Goldman Sachs, Warner, Max, — Organizations: Warner Bros, Discovery, Technology, Writers Guild of America, Hollywood, Warner, Warner Bros . Discovery, NBA, Max, CNBC, Major League Baseball, AMC Networks, CNN

☆ The $128 billion retail media industry is the hottest space in advertising right now — and its growth tear is coming at the expense of Google and TV
▼ + stars: | 2023-09-02 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

US search spend on retail media properties is expected to grow 18.7% this year, while search spend outside retail media is expected to grow just 5%, per Insider Intelligence. Despite offering Shopping Ads and analytics and order management tools, industry analysts usually don't consider Google as a retail media operator. AdvertisementAdvertisementHowever, not all retail media spend is coming at the expense of Google and traditional advertising channels. Forrester's second-quarter marketing CMO pulse survey found that the majority of retail media spend is coming from existing trade and shopper marketing budgets. Retailers are cannibalizing those budgets to fuel growth of their retail media networks, said Nikhil Lai, senior analyst at Forrester.

Persons: —, Alex Brownsell, Bill Fisher, Nikhil Lai, Forrester's Lai Organizations: Google, Walmart, Service, Retail, Intelligence, Kroger, Forrester, Apple, Instacart Locations: Amazon, Wall, Silicon, Instacart

☆ One of the Biggest Cable Companies Says Cable TV Isn’t Working
▼ + stars: | 2023-09-01 | by ( Benjamin Mullin | More About Benjamin Mullin | ) www.nytimes.com time to read: +1 min

One of the biggest cable companies in the United States has a message for media companies: The traditional cable-TV model is broken, and it needs to be fixed or abandoned. Cable TV is too expensive for consumers and providers, Charter Communications, which has nearly 15 million pay-TV subscribers, said in a 11-page presentation to investors on Friday. The channels will not be available to Charter subscribers until both sides agree on how much Charter will pay Disney to carry its channels. Charter delivered a scathing indictment of the cable television industry, which has generated billions of dollars for companies like Disney and Charter for decades. It’s a notable acknowledgment from Charter, one of the companies that propelled much of that growth.

Persons: It’s Organizations: Cable, Charter Communications, Walt Disney Company, ESPN, FX, Disney, Charter Locations: United States

☆ Jim Cramer: This is my thinking behind Monday's buys of two very unloved stocks
▼ + stars: | 2023-08-28 | by ( Jim Cramer | ) www.cnbc.com time to read: +7 min

We have waited for Estee Lauder (EL), too. Estee Lauder is a huge employer in China and a favored one. Estee Lauder remains a great answer for them. Disney and Estee Lauder are battles and we have waited until our adversaries seem spent and the time is right. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jeff Marks, we've, that's, Estee Lauder, —, Bob Iger, Estee's Fabrizio Freda —, Iger, Freda, Xi, Gina Raimondo, Monday, Wang Wentao, Lauder, It's, Jim Cramer's, Jim Cramer, Jim, Disney Bob Iger, Kevin Dietsch Organizations: Disney, ESPN, Hulu, NBC, Comcast, DIS, Fox, Netflix, Apple, Federal Trade Commission, Paramount, Warner Brothers Discovery, Hollywood, United State, Cosmetics, U.S, Commerce, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley Conference, Getty Locations: Hulu —, China, United, Hainan, South Korea, Iger, Sun Valley , Idaho

☆ Sorry, you're going to pay even more for streaming TV soon. Here are the services most likely to raise prices again.
▼ + stars: | 2023-08-23 | by ( Alistair Barr | ) www.businessinsider.com time to read: +4 min

Netflix, Disney, and other video streaming providers have raised prices a lot in the past year. The analysis predicts which streaming subscription services are likely to raise prices again soon. The Bernstein sales specialist also fired up an interesting analysis, using Nielsen data and other industry stats, that shows which streaming services are mostly likely to raise prices again. In other words, you're probably going to pay more for Netflix, Hulu, and Peacock before too long. However, over a longer period, it usually takes a consistent supply of solid hits to drive repeat viewing habits that support higher prices, Schilsky explained.

Persons: they're, Jerome Powell shudder, We'll, Mark Schilsky, Max, Peacock, Schilsky, haven't, Bob Iger, Bernstein, Mark Organizations: Netflix, Disney, Bernstein Research, Wall, Hulu, Paramount, Apple, Nielsen, Bernstein Locations: That's

☆ Why a famous quote from 50 years ago helps explain everything going on in Hollywood right now
▼ + stars: | 2023-08-09 | by ( Matt Turner | ) www.businessinsider.com time to read: +9 min

That means Netflix, which is the only streaming company making real money. There's been a race between the major media companies to acquire users over the past several years, something you could describe as the "Netflix effect." There used to be a few dominant media companies, then the internet and cell phones arrived, and there was a fresh wave of competition and innovation. There's a strong chance that we're now moving back to a world where there's a few dominant media companies, albeit in different industry structures. And arguably, these new dominant media companies are more powerful than the old dominant media companies.

Persons: Andy Warhol, I'd, Warhol, it's, Henry Blodget, Here's what's, That's, I'm, Bob Iger, There's Organizations: Intelligence, Hulu, YouTube, Spotify, New York Times, Street, Netflix, Warner Bros, Paramount, Disney, ABC, FX, ESPN Locations: Hulu

☆ News firms seek transparency, collective negotiation over content use by AI makers - letter
▼ + stars: | 2023-08-09 | by ( Yuvraj Malik | ) www.reuters.com time to read: +3 min

AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. "Generative AI and large language models ... disseminate that content and information to their users, often without any consideration of, remuneration to, or attribution to the original creators. Services like OpenAI's ChatGPT and Google's Bard, which use the language producing generative AI, has led to a surge in online content produced by bots and several industries are assessing its impact on their businesses. Even as the technology sees wide adoption - several companies have launched features based on generative AI - governments around the world are still deliberating rules to govern its use. Meanwhile, news companies are beginning to experiment with generative AI and negotiate deals with tech companies for their content to be used to train AI models.

Persons: Dado Ruvic, Google's Bard, OpenAI, Yuvraj Malik, Katie Paul, Maju Samuel Organizations: REUTERS, News Media Alliance, European Publishers ' Council, Google, Facebook, Associated Press, American Journalism, Thomson Locations: United States, Bengaluru, New York

☆ How the founder of The Daily Upside used the lessons he learned as a media banker to build a profitable newsletter company
▼ + stars: | 2023-08-08 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Patrick Trousdale's The Daily Upside newsletter for investors just hit 1 million subscribers. It's an example of how a media company can be profitable in a jittery time for the industry. As an investment banker at Guggenheim Partners in the last decade, Patrick Trousdale had the chance to observe the media industry up close. "You have sizzle before the steak at times with digital media," Trousdale, 33, told Insider. Patrick Trousdale.

Persons: Patrick Trousdale's, Patrick Trousdale, Trousdale, Trousdale forgoing, Puck, Graydon Carter's, Nat Rubio, Leah McGrath Goodman, Goodman, John Keeling, —, " Keeling, Patrick Boyle, Substack, Keeling, there's Organizations: Guggenheim, Guggenheim Partners, Guggenheim Securities, Vice Media, Morning, Financial Times, Apple, Plaid, Business Development, Air Mail, Facebook, Google Locations: Puck

REUTERS/Johanna Geron/Illustration/File PhotoOTTAWA, Aug 8 (Reuters) - Canadian news industry groups on Tuesday asked the country's antitrust regulator to investigate Meta Platforms' (META.O) decision to block news on its platforms in the country, accusing the Facebook parent of abusing its dominant position. Meta started blocking news on its Facebook and Instagram platforms for all users in Canada last week in response to a law requiring internet giants to pay for news articles. The application was filed by industry bodies News Media Canada and the Canadian Association of Broadcasters, along with public broadcaster CBC/Radio-Canada, and asks the Competition Bureau to investigate Meta and stop it from blocking news. A spokesperson for Meta referred to a statement issued last week, in which the company said the Canadian law was based on "the incorrect premise that Meta benefits unfairly from news content shared on our platforms." Google has also said it will block news in Canada by the time the rules come into effect.

Persons: Johanna Geron, Meta, Ismail Shakil, Zaheer Kachwala, Maju Samuel, Deepa Babington, Jonathan Oatis Organizations: REUTERS, OTTAWA, Tuesday, Facebook, Meta, Canada's, News Media Canada, Canadian Association of Broadcasters, CBC, Radio, Canada, Bureau, Google, Thomson Locations: Canada, Ottawa, Bengaluru

☆ How a Guggenheim banker-turned-newsletter publisher is building the anti-Vice, profitably
▼ + stars: | 2023-07-31 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

☆ Ongoing strikes could kill Hollywood's momentum after the 'Barbenheimer' bump, but 4 industry insiders and analysts are still optimistic about the future of these 5 entertainment companies
▼ + stars: | 2023-07-29 | by ( James Faris | ) www.businessinsider.com time to read: +11 min

Here's which entertainment companies will outperform, according to analysts and industry insiders. Four industry veterans Insider spoke with unanimously agreed that unless the strikes are resolved soon, the movie industry's much-needed revival will fizzle out. In a mid-July note about the movie industry, Reese and Pachter highlighted three theater-related companies that are best positioned to survive in this difficult environment. FuboTV should be a winner since it's a solid alternative for cord cutters who still need news and sports coverage, which aren't impacted by the strikes, Pachter noted. Netflix is perhaps the most fascinating company in the media industry right now.

Persons: Barbie, Oppenheimer, Paul Dergarabedian, Alicia Reese, David A, Gross, Strikes, Reese, Michael Pachter, Dergarabedian, Pachter, Richard Gelfond, JPMorgan's David Karnovsky, Wedbush's Pachter, aren't, it's Organizations: Hollywood, Wedbush Securities, Entertainment Research, Alliance, Television Producers, Consumers, Netflix Locations: Hollywood, creatives

☆ Snap stock drops 19% on weak forecast
▼ + stars: | 2023-07-26 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Snap shares plunged at the start of trading, falling 19% as analysts and investors recoiled from a weaker-than-expected forecast for the current period. Overall sales declined 4% year-over-year, with a slightly-than-expected lower-end total sales forecast for the third quarter. The broader social media industry has become "harder" to forecast in, CEO Evan Spiegel said in an interview with CNBC's Julia Boorstin on Wednesday. Morgan Stanley maintained a $6.5 price target and an underweight rating on the social media stock. Bank of America analyst Justin Post reiterated a neutral rating and an $11 price target.

Persons: Evan Spiegel, CNBC's Julia Boorstin, Morgan Stanley, Brian Nowak, Nowak, Justin Post, CNBC's Michael Bloom Organizations: Viva Technology, Bank of America, Online Locations: Paris, North America

☆ 3 trends that will redefine sports media as the industry reckons with layoffs, AI, and more
▼ + stars: | 2023-07-25 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +8 min

More news jobs have already been cut this year than in all of 2022 and 2021, per a firm that tracks layoffs. Industry experts explain the three media trends that could replace traditional sports journalism. Wiacek said that the 18- to 30-year-old demographic is key for traditional media organizations, yet the hardest to reach. "The more traditional media outlets are trying to find ways of attracting that audience," Wiacek said. Hanlon said team communications are essential for growing leagues like the NWSL that can't wait around for classic media coverage to pour in, especially in local markets.

Persons: Andy Challenger, It's, Challenger's, Challenger, Conrad Wiacek, Wiacek, Pat McAfee, CJ McCollum, McAfee, famer David Ortiz, JJ Redick, isn't, Tim Hanlon, Hanlon, They're Organizations: ESPN, New York Times, Sports Illustrated, Warner Bros, The Athletic, NFL Media, Times, Los Angeles Times, Industry, Sports, YouTube, Indianapolis Colts, NBA, famer, Leagues, MLS, LA Times, Associated Press, Minor League Baseball Locations: FanDuel, pickleball

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