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Global Advertising Forecast Cut to 9.2 Percent Amid Economic Slowdown

Global advertising growth in 2022 will come in at 9.2 percent, lower than the previously forecast 12 percent, media investment and intelligence company Magna said on Tuesday, citing an economic slowdown and restrictions to data-driven targeting of digital ads. Globally, media owners’ advertising revenues will grow to nearly $828 billion, about 32 percent above the […]

Disney+ Could Hit $1.8B In Ad Revenue by 2025, Netflix May Reach $1.2B, Analyst Estimates

With streaming giants Netflix and Walt Disney planning to roll out advertising tiers with lower subscriber prices, MoffettNathanson analyst Michael Nathanson has shared his estimates for how much ad revenue the companies may bring in over the coming years. Disney+ could generate $1.8 billion in U.S. ad revenue by 2025, with Netflix reaching $1.2 billion, […]

Netflix Stock Downgraded to “Sell” Amid Inflation Woes

Viewership records for Stranger Things weren’t enough to save Netflix shares from being hit with a downgrade on Tuesday. Benchmark analyst Matthew Harrigan downgraded them from “hold” to “sell” with a new price target of $157. “We are reverting our rating on Netflix to ‘sell,’ admittedly after having prematurely upgraded the stock to ‘hold’ following […]

What Snap’s Revenue Warning May Mean for Media Companies and Advertising

With Snap surprising Wall Street with a second-quarter revenue warning on Monday, noting that “the macroeconomic environment has deteriorated further and faster than anticipated” since its last earnings update, some media analysts are assessing the potential advertising impact on other sector players. Wells Fargo’s Steven Cahall in a Tuesday report offered up “helpful quick data […]

BuzzFeed Sees Decline in User Engagement as Total Revenue Misses Expectations

In its first Q1 earnings report since going public, BuzzFeed reported $91.6 million in revenue, falling below Wall Street expectations, and a 4 percent decline in user engagement. Advertising accounted for the majority of BuzzFeed’s revenue, bringing in $48.7 million. Content revenue followed with $32.3 million during the quarter, with the majority of the growth […]

Endeavor Beats Wall Street Estimates As Live Events Bounce Back

Endeavor topped Wall Street expectations in Q1 2022, beating on revenue and earnings per share as the company’s segments continue to see growth return in a world with significantly fewer COVID-19 restrictions. The company reported revenue of $1.47 billion, net income of $517.7 million, adjusted EBITDA of $314.4 million and earnings per share of $1.16. […]

Disney’s Lofty Streaming Subscriber Target Divides Wall Street

The Walt Disney Co.’s latest quarterly streaming subscriber growth may have provided an upside surprise, but Wall Street’s debate rages over a big question. Can the Hollywood giant hit its own forecast of 230 million to 260 million subscribers by 2024, with Disney+ at break even at that point? The company’s latest set of results […]

Disney+ Hits 137.7M Subscribers, Beating Wall Street Expectations in Streaming

Disney once again beat Wall Street expectations last quarter in streaming, adding 7.9 million Disney+ subscribers, and suggesting that the company may be positioned to take a lead in what has become a cutthroat race to the top in streaming. While Wall Street expectations for Disney+ were varied, a midpoint expectation was 4.5 million to […]

ITV Ad Revenue Jumps 16 Percent in First Quarter, Studio Unit Grows 23 Percent

U.K. TV giant ITV reported its first-quarter revenue on Wednesday, including a 16 percent jump in advertising revenue to 468 million pounds ($578 million). The company, led by CEO Carolyn McCall, also said its production arm ITV Studios saw revenue increase 23 percent in the opening period of 2022 to 458 million pounds ($565 million) […]

Music Services May Have Less Churn Than Video Streamers, Warner Music CEO Says

Warner Music Group, home to the likes of Cardi B, Ed Sheeran and Bruno Mars, reported higher fiscal second-quarter revenue on Tuesday, driven by digital growth. Earnings for the latest period fell to $92 million from $117 million in the year-ago period, “primarily due to aggregate realized and unrealized losses on the mark-to-market of certain […]

IAC Hints at Upcoming Investments, Growth in Dotdash

IAC is beginning to see some benefits from its acquisition of Meredith Corp., while hinting that another investment is on the horizon.  The company acquired a 12 percent stake in MGM Resorts International in August 2020, a choice which executives said was made after looking for solid businesses that could emerge from COVID-19 relatively unphased. […]

Sony Pictures Swings to Quarterly Profit of $84M

Sony Pictures saw its fiscal fourth-quarter bottom line swing to a profit of $84 million (11 billion yen), a healthy uptick from the $2.7 million loss (300 million yen) it reported during the same period in 2021. Revenue in the Japanese conglomerate’s pictures division, meanwhile, soared 27.5 percent to $3.4 billion. Sony Corp. reported its […]