Tag Archives: Media

Leaders at mega companies like Netflix (NFLX) and Disney (DIS) can no longer “straddle” the fence on cultural and political issues. “All I’m going to say is thank goodness I’m not the CEO of a major media company today,” Marc Randolph, who served as Netflix’s first CEO from its inception in 1997 to 2003, told Yahoo Finance in a new interview. “We have a country that is becoming more and more polarized. There’s people on either side.” “In the past, it was very straightforward to either ignore… Source link

A new platform being beta-tested hopes to re-introduce an element of what many social media companies have seemingly lost sight of amid industry controversies — maintaining a sense of community. “A big differentiator for us is creating a space where people feel like they don’t have to perform,” Somewhere Good Founder and CEO Naj Austin said on Yahoo Finance Live (video above). “There are no likes. There are no followers. There are no algorithms tracking you. We’ve removed any temptation for… Source link

Netflix (NFLX) has some work to do. Earlier this week, the company confirmed to Yahoo Finance that it will be laying off about 150 positions of the streamer’s 11,000 workforce in an effort to reduce spending and offset slowing revenue growth. “As we explained on earnings, our slowing revenue growth means we are also having to slow our cost growth as a company. So sadly, we are letting around 150 employees go today, mostly U.S.-based,” a Netflix spokesperson said in a statement. “These changes… Source link

Today in the connected economy, hotel chain Marriott joins forces with Yahoo to launch a media network that lets advertisers reach guests with targeted commercials. Plus, Uber unveils several new ridesharing features, and Plaid partners with VGS to provide tokenization services. Marriott Launches Media Network That Lets Ads Reach Travelers Marriott is working with Yahoo to launch a media network that lets advertisers target guests at the hotel chain using their consumer data. The Marriott… Source link

After a controversial new social media law went into effect Wednesday in Texas, the Supreme Court began weighing Big Tech’s emergency request to put it on hold as the tech industry fights the legislation. Texas statute HB 20 requires large platforms like Twitter (TWTR), Meta’s Facebook and Instagram (FB), TikTok, and YouTube (GOOG, GOOGL) to publish all user posts that express a “viewpoint.” Their industry lobbyists are challenging the statute on First Amendment and other grounds, and… Source link

Marriott debuts the hospitality industry’s first global omnichannel media network, enabling advertisers to deliver curated experiences to millions of travelers BETHESDA, Md., May 16, 2022 /PRNewswire/ — Marriott International, Inc., today announced the launch of the Marriott Media Network, an omnichannel cross-platform advertising solution for brand advertisers, enabling curated content experiences and offerings to guests throughout their travel journey. To power its network of owned… Source link

Netflix is still reeling from its unexpected decline in Q1 subscribers, which led to a stock plummet of 35% and wiped more than $50 billion off of its market cap. The streaming giant’s disappointing results came as inflation remains high, consumers cut costs and competition intensifies, although one media mogul is not giving up on Netflix quite yet. “I don’t think Netflix has crashed — quite frankly, I think the market has overreacted,” Byron Allen, the founder and CEO of Entertainment… Source link

It’s only three months into 2022, and some pure-play media companies are having a terrible year. How terrible? Losing-half-market-cap bad. Shares of Netflix are down a startling 67% year to date, pressured by another disappointing quarter for subscriber growth and a weak outlook. The streaming giant is now in cost-cutting mode — Meghan Markle’s animated series ‘Pearl’ is now off — in an effort to boost profits with its top line slowing. “Netflix is a growth company, but no longer a premium… Source link

Yandex, often considered Russia’s equivalent to Google, has agreed to sell its media arm to VK (VKontakte), the company known as Russia’s Facebook. The news aggregator service Yandex News, and the blogging platform Zen are being sold for undisclosed sums to the social media company, as a result of Russia’s invasion of Ukraine, according to TechCrunch Both platforms have been accused of spreading Russian propaganda and blocking true reporting of the war, putting Yandex at risk of sanctions.

In further fallout from Russia’s invasion of Ukraine, Yandex, the company that’s sometimes referred to as the ‘Google of Russia,’ has signed a term sheet to sell its media division to VKontakte (VK), aka the local Facebook equivalent. Yandex confirmed it has signed a term sheet to divest its news aggregator (News) and blogging/infotainment platform (Zen) with VK today. But it declined to provide further detail on the transaction that’s been agreed with VK, including financial… Source link