Snap is having a very rough go of it. The Snapchat parent reported revenue of $207.9 million, compared to $128.2 million in Q3 of 2016. But analysts had projected that Snap would take in $237 million. All told, the company’s net losses amounted to $443.2 million. Snap also underperformed when it came to user growth. The company added 5 million monthly active users during the quarter – significantly fewer than the 8 million that Wall Street had predicted. CEO Evan Spiegel told investors that the underwhelming revenue numbers were the result of “dramatically reduced pricing” for Snap’s new programmatic ad units. The company’s shares took a beating after the announcement, falling by over 17% in after-hours trading.
Netflix renewed Chuck Lorre comedy The Kominsky Method, starring Michael Douglas and Alan Arkin, for an eight-episode second season. The move comes after the show scored a best comedy series win and Douglas snagged a lead actor in a comedy series trophy at the Golden Globes. The show resumes production later this month in Los […]
Former CBS CEO Les Moonves isn’t going away without a fight, despite having left the company under a cloud of sexual misconduct allegations. In December, the CBS board cited findings of its internal investigation as justification for Moonves not being eligible for the $120 million exit package in his contract. In a regulatory filing on […]
The NBA announced that the 2019 NBA All-Star Draft will be carried by TNT on Feb. 7 at 7p while the rosters for the NBA All-Star Game will be revealed during a special NBA All-Star Draft Show, which will be followed by an extended version of the TNT NBA Tip-Off presented by Autotrader pregame show. […]
ESPN is tapping the talents of Max Kellerman to host a new, 30-minute boxing series that will run on ESPN2 and the ESPN App that will run on Fridays at 5p and feature Kellerman’s analysis, interviews with top fighters and guest appearances by leaders in the sport. The show will debut Feb. 8, ahead of […]
Imagine Kids & Family, the recently formed division under Imagine Entertainment and Meredith Corporation’s in-house television production company, Four M Studios, have partnered to develop premium children’s television programming from the archives of LIFE magazine. LIFE for Kids, executive-produced by Imagine Entertainment Chairmen Brian Grazer and Ron Howard, Imagine Kids & Family President Stephanie Sperber […]