IN THE NEWS

Global entertainment & media industry revenues rose 5% to $2.8 trillion in 2023, and are projected to hit $3.4 trillion in 2028, according to PwC’s new Global Entertainment & Media Outlook. Also in the forecast:
· Advertising revenues are projected to top $1 trillion in 2026, with revenues in 2028 to represent double the revenues of 2020.
· Streaming service usage and continues to rise, but consolidation, live sports, password-sharing crackdowns and ad-based revenue will drive growth as industry competition intensifies.
· Gaming remains among the fastest growing E&M sectors globally: largely driven by Asia-Pacific, revenue is expected to top $300 billion in 2028.
· The global E&M industry looks to Generative AI to drive new revenue streams and transform business models.

The upshot? “Shifts in consumer preferences, and uncertainty around the continued impact of digital transformation and new and emerging technology such as Generative AI, are inspiring a wave of business model reinvention,” said Werner Ballhaus, Global Entertainment & Media Leader, PwC Germany. “If market players are to gain their share of the growing revenue pools we identify, they will have to reimagine how their company creates, delivers, and captures value, leveraging the growth of advertising while also harnessing the powerful opportunity presented by AI. As consumers increasingly consume content online, companies will also need to diversify their product-offerings and continue to connect with consumers on the platforms where they spend more of their time.”

It was the summer of soccer, ratings-wise. Fox smashed viewership records with 6.43 million viewers for Sunday’s UEFA Championship final match, the most-watched Euro telecast and final in US English language history, and the most-watched non-World Cup soccer telecast ever on Fox. The tournament overall stands as the most watched Euro in US English language TV history, averaging 1.675 million viewers across Fox and FS1. Fox’s CONMEBOL Copa América final match on Sunday delivered 6.019 million viewers, making it the most-watched Copa America final telecast in English-language TV history and the second most watched non-World Cup soccer telecast in Fox history only behind the Euro final earlier in the day. The tournament overall now stands as the most watched Copa América in US English language TV history, averaging 1.418 million viewers across Fox, FS1 and FS2. Across Univision and TUDN, the Copa América final delivered 5.2 million viewers, its biggest audience since the 2014 World Cup final. Sunday’s UEFA match delivered 3.0 Total Viewers, the most-watched Euro final ever in Spanish-language.

Three-quarters of CTV buying is now programmatic, according to IAB’s 2024 Digital Video Ad Spend & Strategy Report. Within programmatic CTV, activation is roughly equal among the open exchanges/RTB (36%), PMP / preferred deals / programmatic guaranteed (34%), and ad networks (30%). Other findings include:
· Buyers are investing across all video content types, from short-form to long-form to creator and immersive. Short-form (69%) and vertical-format (68%) account for the largest share of buyers.
· “Business outcomes” is the top KPI to determine success at the digital video channel level. Including sales, store/site visits, and leads, business outcomes is the most important KPI for buyers of social video, online video, and CTV. Social exceeds online video, and CTV at 64% vs. 58% and 54%.
· Though two-thirds of buyers cite issues across measurement, small spenders are significantly more likely to cite issues with viewability, standardized targets, currency, and obtaining sell-side data. Additionally, TV/video buyers are significantly more likely to cite measurement issues with CTV and OLV than with social video.
· Alternative measurement currencies are now widely used, with 89% of advertisers transacting, testing, or having discussions with alternative currency measurement vendors. Buyers value multi-screen attribution (45%) and real-time reporting (43%), and 28% of buyers are already transacting on alternative currencies.

“The industry has bought, transacted, and measured against reach since the beginning of time,” said Cintia Gabilan, Vice President, Media Center, IAB. “But now business outcomes are the most important metrics to assess success, with reach and frequency coming in second. However, measurement is not yet where it needs to be. Two-thirds of buyers cite issues across nine key areas of measurement.”

X owner Elon Musk wants to see legal action taken against industry group Global Alliance for Responsible Media, after a report from the House Judiciary Committee accused GARM of violating US antitrust laws. “Hopefully, some states will consider criminal prosecutions,” posted Musk. The House report claims GARM targeted right-wing news sites and colluded to reduce advertising revenue for X.

AMC struck a deal with Netflix to bring 15 shows to the streamer, with select seasons of 13 shows dropping August 19, among them “The Walking Dead: Daryl Dixon,” “Anne Rice’s Interview With the Vampire” and “Into the Badlands,” and the first seasons of “The Walking Dead: Dead City” and “The Walking Dead: The Ones Who Live” launching January 13.

Disney is investigating the possible hack of its internal Slack workplace messages by a group calling itself Nullbudge, reports The Wall Street Journal. In a blog post, Nullbudge said it published data from thousands of Disney Slack channels, including computer code and details about unreleased projects. Nullbudge positions itself as an advocate for artist rights.

In a shifting media landscape, Warner Bros. Discovery needs to make a move, according to media analyst Jessica Reif Erlich, Managing Director at BofA Securities. “In our view, the current composition as a consolidated public company is not working,” she wrote in the report, “Is Unbundling the Answer?”. “At current levels, we believe exploring strategic options for WBD would create more shareholder value vs. the status quo.” Possible scenarios offered include asset sales, a partnership with a broadcast network, or spinning off linear assets into a separate holding company. Of the last suggestion, the report says, “Many other companies are faced with similar dynamics as WBD but struggle to find adequate alternatives as there aren’t many buyers for these secularly declining assets. As a standalone entity, this Linear Spinco Asset could potentially become a ‘roll up’ for other similarly distressed assets-likely at attractive valuations.” Erlich continued to give a “buy” rating to the company’s stock, which jumped over 6% yesterday.

Meanwhile, WBD started a new round of layoffs on Tuesday that is expected to affect finance, business affairs, production and Max. The cost-cutting move is reported to impact under 1000 employees, significantly fewer than past layoffs.

Ozy Media founder and CEO Carlos Watson was found guilty of fraud on Tuesday, and faces up to 37 years in prison for deceiving investors about the company’s finances. Sentencing is scheduled for November 18; Watson’s lawyers said they plan to appeal.

Eighty-one percent of US adults are concerned about how companies use the personal data they collect, and 76% have little or no trust that companies will not sell personal data without their consent, according to a three-part Insight series from the Video Advertising Bureau. The study also found:
· 46% percent of US adults found TV advertising trustworthy, versus 30% for websites and 19% for social media.
· 66% of respondents said they would gain trust in a company if they were transparent about how they use personal data.
· 98% said responsible and secure treatment of consumer data is extremely important in shaping the customer experience for brands.
· Top reasons to share personal information with brands when prompted were coupons or deals (33%), product price (30%) and free product resource (22%).

“With growing consumer concern about data privacy and security, and an influx of data legislation at the state and federal level, it is essential that every advertiser, brand and marketer have a data privacy and security strategy,” said Benjamin Vandegrift, VP, Measurement Solutions & Innovations, VAB.

Netflix viewers can get a taste of “Fire Country” when season one drops Thursday, August 1 on the streamer. Season three makes its CBS premiere on Friday, October 18; the first two seasons are also available on Paramount+.

Kitchenware brand HexClad announced a strategic $100 million investment from Studio Ramsay Global, the partnership between Chef Gordon Ramsay and FOX Entertainment. Ramsay first invested in HexClad as an equity partner in 2021.

Colin Firth (“The King’s Speech”) has joined Prime Video’s upcoming series “Young Sherlock,” from Guy Ritchie. Already onboard are Hero Fiennes, Zine Tseng, Joseph Fiennes and Natascha McElhone.

Creative studio Toikido and CAKE struck a strategic partnership to develop and co-produce a long-form animated series, “PeaKeeBoo.” The collaboration aims to expand the PeaKeeBoo universe from its YouTube shorts into long-form animated episodes.

Mecenas, a minority-owned and operated full stack media company, and Disney have renewed their strategic content and distribution agreement. The new agreement expands the relationship beyond long-form content, incorporating short-form content that leverages Hulu’s ad opportunities and integrate short stories with contextually relevant placements.

Great American Media ordered a second season of “County Rescue.” Production begins this month for a January 2025 premiere.

Investigation Discovery is continuing its partnership with Octavia Spencer, her production company Orit Entertainment, and October Films with the renewal of true crime docuseries’ “Lost Women” and “Feds.” The new season of “Lost Women” will focus on the murders of two Alaska Native women and the investigation that led authorities to capture their killer. “Feds” will continue to take viewers inside the FBI.

“Something Very Bad Is Going To Happen” to Netflix. The streamer ordered the horror drama from executive producers The Duffer Brothers and Hilary Leavitt through their Upside Down Pictures overall deal with Netflix.

NEW & RETURNING SERIES

Apple TV+ has renewed “Loot” for season three. “We are thrilled to come back for a third season! We’re extremely fortunate to spend more time with our talented cast and crew,” said star and executive Maya Rudolph and executive producer Danielle Renfrew Behrens. “Making this show with Apple TV+ has been a joy, and we can’t wait to reunite with our ‘Loot’ family.”

Fox announced its fall premiere dates, kicking off with the series debut of animated comedy “Universal Basic Guys” on Sunday, September 8 following the Fox NFL doubleheader. Lifeguard drama “Rescue: Hi-Surf” debuts Sunday, September 22 after the NFL doubleheader, settling into its time period premiere Monday, September 23 at 9p, after the season five launch of “9-1-1: Lonestar.” “Murder in a Small Town” arrives Tuesday, September 24 at 8p, while Wednesday, September 25 brings the season 12 launch of “The Masked Singer” at 8p and the season two arrival of “The Floor” at 9p. Season 23 of “Hell’s Kitchen” and season three of “Crime Scene Kitchen” premiere at 8p and 9p, respectively, on Thursday, September 26. “The Simpsons” is back for season 36 on Sunday, September 29 at 8p, followed by the time period premiere of “Universal Basic Guys” at 8:30p, “Bob’s Burgers” for season 15 at 9p, and “Krapopolis” for a sophomore run at 9:30p.

Season two of docuseries “Betrayal,” based on the true-crime podcast of the same name, begins streaming Tuesday, July 30 on Hulu. “Betrayal: A Father’s Secret” follows Ashley Lytton, a Utah wife and mother of three, as she makes a devastating discovery about her husband.

Docuseries “Chimp Crazy” debuts Sunday, August 18 at 10p on HBO. The four-parter, produced and directed by Eric Goode (“Tiger King”), follows a nurse-turned-exotic animal broker and explores the secretive world of raising chimpanzees.

HGTV has hammered out a premiere date for “100 Day Hotel Challenge.” The renovation competition launches Tuesday, August 13 at 8p, pitting married real estate developers Brian and Mika Kleinschmidt against each other, with Property Brothers Drew and Jonathan Scott along for the ride as judges.

Italian spinoff series “Citadel: Diana” premieres Thursday, October 10 on Prime Video. The spy drama, set in 2030, follows an undercover agent trapped behind enemy lines.

“Citizen Nation,” a docuseries that follows teenagers from across the US with diverse personal and political backgrounds as they come together to compete in a civics competition, premieres Tuesday, October 8 at 9p on PBS (check local listings).

“Worst Ex Ever” drops Wednesday, August 14 on Netflix. Through bodycam footage, testimonials and reenactments, the show from Blumhouse Television – creator of “Worst Roommate Ever” – tells stories of monstrous past relationships.

COMING UP

“Ol’ Dirty Bastard: A Tale of Two Dirtys,” the first official documentary about the founding member of the hip-hop group Wu-Tang Clan, premieres Sunday, August 25 at 9p on A&E.

The 60th Academy of Country Music Awards will take place Thursday, May 8 in Frisco, TX, with Reba McEntire hosting for the 18th time. Prime Video has exclusive TV rights.

Suspense thriller “The Match” has its world premiere Thursday, August 1 on ALLBLAK. The film follows a couple who meet on a dating app, and wind up in deadly circumstances.

The 37th Annual Hispanic Heritage Awards will broadcast Friday, September 27, at 9p PBS (check local listings). The ceremony will be taped for broadcast on Thursday, September 5, at the John F. Kennedy Center for the Performing Arts’ Opera House.

STREAMING

BET Media Group has launched two FAST channels featuring programming from prolific producer Tyler Perry. BET Tyler Perry Comedy and BET Tyler Perry Drama feature BET shows, including “Tyler Perry’s Sistas,” “Tyler Perry’s The Oval,” “Tyler Perry’s House of Payne,” “Tyler Perry’s Ruthless,” “All the Queens Men,” “Tyler Perry’s ZATIMA,” and “Tyler Perry’s Assisted Living,” available on major FAST platforms. “The introduction of Perry’s content to FAST channels is a momentous occasion in our partnership,” said Louis Carr, President of Media Sales at BET Media Group]. “We’re thrilled to provide Black audiences with a fresh avenue to enjoy Tyler Perry’s content and offer more access options for our original programming.”

Streaming technology company Brightcove has added family-friendly streaming service Sunn Stream to its roster of media customers. Sunn Stream will use Brightcove’s platform to distribute its content to audiences nationwide.

NewsON, the streaming service for local news content, has added eight new stations to its lineup in partnership with News Press & Gazette: KION, KESQ and KEYT in California; KRDO in Colorado Springs; KIFI in Idaho Falls; KMIZ in Columbia, MO; KTVZ in Bend, OR; and KVIA in El Paso. NewsON offers access to local news content from 286 local TV stations covering 91% of the US population.

Electronics brand TCL announced that TCLtv+ replaces the existing TCL app on Roku’s streaming platform. TCLtv+ is now available on Roku devices and TCL Roku TVs in US.

TECH TALK

Vizrt announced the launch of Pilot Sign-On for its Viz Pilot Edge HTML-based newsroom graphics platform. Designed specifically for newsroom environments, Pilot Sign-On offers security measures to safeguard sensitive journalist workflows. Ensuring only authorized personnel can access sensitive information, and crucial editorial tools, or investigate reports, Pilot Sign-On protects against unauthorized access and reduces the risk of a data breach.

Google Ad Exchange was the programmatic seller most used by Made-for-Advertising sites in May, according to Pixalate’s May 2024 Web MFA Risk Analysis: Open Programmatic Sellers Report, which found Google Ad Exchange sold ads on 72% of MFA sites, up from 67% in April. Magnite was second with 33%, down from 50%, and Xandr Monetize was third with 31%, down from 45%. Last on the list was Bright Mountain Media, which sold less than 1% on MFA sites.

The Brandtech Group, owner of Gen AI marketing platform Pencil, is launching a new program aimed at bringing Gen AI creative excellence to marketers. The Residency program is being run by Collectively, Brandtech’s influencer and creator company, and will enable AI creators to explore the creative possibilities of Gen AI in marketing.

SPORTS UPDATE

The US Olympic & Paralympic Committee, in partnership with NBCUniversal and FAST studios, announced the launch of Team USA TV, a FAST channel showcasing the stories of Team USA athletes and their journey to represent Team USA at the Olympic and Paralympic Games.

All Sports Television Network says HBO has withdrawn its opposition to All Sports’ attempt to trademark the name “Racemax.” The companies had been in a legal dispute for almost a year.

“Undisputed” co-host Skip Bayless is leaving the FS1 show and Fox Sports after eight years, reports the New York Post. His final appearance is expected to be later this summer.

For the second year, FOX Sports and Women’s Sports Network will carry games live from the Elevance Health Women’s Fort Myers Tip-Off, featuring eight college basketball programs across two divisions from November 28-30 at Florida SouthWestern State College.

Among male, heavy cable viewers, Outdoor Channel ranked #8 out of 146 reported cable networks in viewer engagement in MRI research, reports Sportsman Group Networks. Sportsman Channel did even better, ranking #4.

EXECUTIVE MOVES

DAZN has named Sara Pastor as Senior Vice President Ad Media Sales for Spain and Portugal. Pastor previously held the position of Head of Agency Development for Spain at Amazon.

GroupM has named Sandy Welsch as Executive Director of Global Commerce Partnerships and Enablement. Welsch was most recently VP of Omnichannel Platforms at Flywheel Digital, which Omnicom acquired earlier this year.

PMG has hired Dan Conti as the Head of Sports Marketing. Conti joined from GroupM’s Wavemaker, where he started and grew the Sports & Live practice.

MyBundle has hired former Ting Chief Revenue Officer Michael Goldstein in the newly created position of Chief Revenue Officer.

Today’s Trivia Question
Which short-lived sitcom focused on a teenaged theater usher? (Email [email protected] with your answer and be sure to include your name, company, city and time zone. Unofficial rules: a limit of four answers per time zone.)