Earnings
Disney Will Add ESPN Tile to Disney+ This Year
Disney plans to add an ESPN tile to Disney+ as it prepares to launch its new standalone ESPN streaming service. The tile will be added by the end of the calendar year, Disney CEO Bob Iger said, and will feature “select live games” as well as studio programming, to watch within Disney+. This feature will […]
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Live Nation Says It’s Not “Legally Permissible” to Break Up the Company As DOJ Lawsuit Looms
Addressing the potential pending lawsuit from the Department of Justice against Live Nation Tuesday, Live Nation CFO and President Joe Berchtold said the company is about to begin talks with senior division leadership at the DOJ, but that he does not believe separating Live Nation and Ticketmaster will be the end result. “Based on the […]
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Verizon Loses 64,000 TV Subs in Fourth Quarter, Adds Broadband Users
Verizon lost 62,000 net pay TV subscribers for its Fios consumer video service in the fourth quarter, ending 2023 with 2.95 million, the telecom giant said on Tuesday. It had lost 78,000 users in its consumer division in the third quarter and lost 80,000 in the year-ago period. Verizon also lost 2,000 business Fios video […]
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Roku Beats Wall Street Revenue Expectations, Sees Improvement in Ad Business
Shares of Roku soared 12 percent in after hours trading Wednesday after the company beat Wall Street revenue expectations and saw improvements in its advertising business. The company reported total net revenue of $912 million, up 20 percent year-over-year. Platform revenue at Roku, which is primarily generated from ads, has also been increasing, reaching $787 […]
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Hasbro Sale of eOne on Track to Close at Year End
Hasbro’s sale of eOne’s film and TV business has received the necessary regulatory approvals and is on schedule to close by the end of the year. As announced in August, Lionsgate is set to buy the assets for about $500 million — including a content library of close to 6,500 titles; active productions for non-Hasbro […]
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YouTube Ad Sales Approach $8B as Alphabet Momentum Grows
YouTube’s advertising revenue reached $7.95 billion in the three months ended Sept. 30, continuing the upward momentum started in the previous quarter. In the second quarter, the video platform reported $7.7 billion in advertising revenue, reversing the downward trend of the previous quarters. The Q3 result of $7.95 billion also bests the results of the […]
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U.S. Advertising Forecast to Rise 5 Percent in 2023, But National TV Faces “Existential Crisis”
U.S. advertising revenue, excluding political ads, will grow 5 percent in 2023 and 4.3 percent in 2024, but national TV may be facing a moment that some see as an “existential crisis,” Brian Wieser, principal at Wall Street insights provider Madison and Wall, said in a new forecast on Wednesday. When including political ads, total […]
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Amazon Advertising Revenue Soars Amid Ramp Up for ‘Thursday Night Football’
Amazon saw its profits grow in the second quarter, reporting net income of $6.7 billion or $0.65 per diluted share, after reporting a net loss of $2.0 billion, or $0.20 per diluted share, in second quarter 2022. Net sales grew to $134.4 billion up from $121.2 billion in the second quarter of 2022. Sales in […]
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YouTube Ads Are Back on an Upswing as Revenue Hits $7.7B
YouTube brought in $7.7 billion in advertising revenue in its second quarter, reversing the prior trends of a downturn. This is an increase from the $6.69 billion in the previous quarter, which had been the third consecutive quarter marking a decrease in ad revenue, and above the $7.3 billion brought in during the second quarter […]
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Spotify Hits Record 551M Active Users Amid Growing Expenses
Spotify reported 551 million monthly active users in its second quarter, adding 36 million from the previous quarter and hitting an all-time high for the company. Additionally, the music giant added 10 million paid subscribers, three million above its guidance forecast and a record for the second quarter, to reach 220 million. Still, operating losses […]
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Cord-Cutting to Reduce Pay TV to Just 38 Percent of U.S. Households by 2027, PwC Forecasts
Despite challenges, the global media and entertainment market grew in 2022, although at a slower pace than in 2021, with gains projected in the coming years. Subscription streaming video growth “stuttered” though last year and will slow over the next five years, even though the global streaming market will expand further to nearly $175 billion. Global […]
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ITV Posts Ad Revenue Drop of 10 Percent in First Quarter, Sees Second Quarter Down 12 Percent
U.K. TV giant ITV on Thursday reported a 10 percent advertising revenue drop for the first quarter of 2023 amid macroeconomic clouds, slightly less pronounced than its forecast for a roughly 11 percent decrease, with the current second quarter forecast to record a 12 percent decline. The company, led by CEO Carolyn McCall, said that April ad […]
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