The Mather Report with David Clinch features a weekly blog post about all things relating to media revenue.
Welcome to our weekly review of the important #MediaRevenue stories this week. We are back on our usual #TGIF schedule this week as I tried to track all the developments in the media industry as I went Atlanta-NY-Dublin-Atlanta-Los Angeles.
Our new team members, Peter Doucette and Liesbeth Nizet, will be attending a number of news industry events this month in Europe, including the WAN-IFRA summit in Zaragoza, Spain. Message them if you want to connect there and hear more about their new roles at Mather.
I am attending the ONA Conference in Los Angeles this week so give me a shout if you want to meet here.
Here is this week’s curated selection of #MediaRevenue news:
“The bill is aimed at giving news and broadcast organizations more clout after years of criticism that big tech companies use their content to attract traffic and ad revenue without fairly compensating the publishers, many of which struggle financially.”
“”This is thanks to an updated copyright law that allows Spanish media outlets, big and small, to make their own decisions about how their content can be discovered and monetised,” she added. Clemares also said the company plans to work with editors to reach agreements” to launch in Spain “as soon as possible” its platform for paying news publishers, Google News Showcase.”
“Reed doubled down on cost-cutting, promising to cut $200 million to $240 million from “declining parts” of the business — primarily print. He doubled down on paying off debt, which tops $1.34 billion. Most of all, he doubled down on boosting digital subscriptions, while also promising to expand a unit that specializes not in journalism, but in selling web services to small- and medium-sized businesses.”
“Nine urban daily newspapers across Canada will stop printing on Mondays beginning Oct. 17, a result of what the industry calls a losing war with tech giants like Google and Facebook over ad revenues.”
“During the Trump years, the fantastic owner-editor Bezos-Baron package stripped the Washington Post of its Politico-purge complacency and vied to make it the true national paper of record. So what happens now?”
“The Times is one of the country’s most historic and formidable journalism institutions, with digital subscriptions growing by more than 360 percent since the Soon-Shiongs purchased it in 2018, according to a representative for the newspaper.”
“Lisa Ryan Howard previously served as The New York Times’ global head of advertising and marketing solutions.”
“Future, one of Europe’s biggest and most successful digital media companies, has seen more than £300m wiped off its market value after the company said that chief executive Zillah Byng-Thorne is to step down after almost a decade.”
“Lord Rothermere is now owner, chairman and chief executive of Daily Mail and General Trust.”
“In the past decade newspapers, which are not only traditionally private enterprises but have also voluntarily assumed vital, substantial and serious public service roles, have lost half their income from customers and advertisers.”
“According to the 2022 member economic impact report by the Local Media Consortium (LMC), a strategic alliance of local media companies, publishers enjoyed a 21% increase in cost savings and revenue generation. That growth amounted to more than $14 million in cost savings and almost $39 million in revenue.”
“The digital media company BDG is closing down its tech title, Input, by the end of the day. It is also laying off at least 19 staff across Mic and Input, with the majority of the cuts affecting Mic.”
The Atlantic expecting to lose ~ $10M again this year. Subscriptions are up: 843k versus 830k this time last year and ~1/2 subs digital-only (388k)
“LinkedIn’s editorial team encompasses more than 180 employees across 16 countries who create, cultivate and curate original content through posts, articles, trending news, LinkedIn Lists, video, audio and more. LinkedIn also recently launched a podcast network featuring content and programming from creators.”
“Founded in 2019, Austin, Texas-based Atmosphere claims it now reaches 45 million unique viewers per month, serving over 1 billion monthly impressions across its 33,000 locations. Atmosphere’s free, ad-supported streaming platform features more than 60 channels.”
“The game brought in more Prime sign-ups over a three-hour period than any other day — including Cyber Monday, Black Friday, and Prime Day. Prime costs $139 annually.”
“ESPN will go direct-to-consumer, but also will remain on cable and satellite providers, giving the customer options. The next question is what it will cost. Disney hasn’t fully figured it out, but we have some educated conjecture that the opening price will be a little lower than what I’ve seen bandied about.”