Business of Media
Netflix’s revenue in Asia-Pacific will grow 12 percent to $4B in 2023, says research group
Netflix is forecasted to grow its revenue in the Asia-Pacific region by 12 percent in 2023, hitting $4 billion, according to a new report from regional research and analysis firm Media Partners Asia. Performance in Asia’s major economies and population centers has become a vital metric for Netflix as subscriber growth and revenue per user has largely plateaued in North America and Western Europe, reports The Hollywood Reporter’s Patrick Brzeski.
The growth rate forecasted by MPA would represent a sizable uptick from Netflix’s 2022 APAC revenue increase of 9 percent. The research firm also projects that Netflix’s local content spending in the region will reach $1.9 billion, representing 47 percent of revenues.
Media Partners Asia’s analysts see three primary factors driving the gains in the East: A rebound in the lucrative but saturated Australia market, where Netflix’s recently launched ad-supported subscription tier will gradually bolster sales; robust levels of growth in the developed East Asian markets of Japan and Korea, where revenue per user tends to be high; and “material gains and contributions” from the developing markets of India, Indonesia, Philippines and Thailand.
MPA’s executive director Vivek Couto noted that Netflix’s ad tier has gotten off to a slow start in APAC, but said that “Australia is expected to see greater momentum through 2023, helping boost subscribers and revenues in a market where churn has been increasing.”
Paramount Global mulls sale of majority stake in BET
Paramount Global is mulling the possible sale of a majority stake in BET Media Group, which includes the BET cable network, BET Studios and VH1, a source confirmed, reports Reuters.
The company believes BET, an entertainment brand focused on the Black community and culture, would attract substantial interest from Black investors or institutions, the source said.
Paramount hopes to maintain a minority stake to benefit from any value that might be unlocked by the transaction.
Previously, the media company partnered with the actor and filmmaker Tyler Perry to launch the BET+ subscription service in 2019, and he retains a minority stake. It also formed BET Studios through a partnership with Black-ish creator Kenya Barris, actress Rashida Jones and S.W.A.T co-creator Aaron Rahsaan Thomas.
White House said to consider pushing congress on dealing with TikTok
The Biden administration is considering pushing Congress to give it more legal power to deal with TikTok and other technology that could expose sensitive data to China, five people with knowledge of the matter said, as it comes under growing pressure to resolve security concerns about the Chinese-owned video app, reports the New York Times’ David McCabe.
White House officials are weighing whether to support legislation being developed by Senator Mark Warner, Democrat of Virginia, that would give the government more authority to police apps and services that could pose a risk to Americans’ data security or be used in foreign influence campaigns, two of the people said. That could be used to target TikTok, which is owned by the Chinese company ByteDance.
The administration has provided feedback on the draft bill, which would offer an alternative to legislation that outright bans the app, the two people said. Warner said Sunday on Fox News that he planned to introduce the bill this week alongside Senator John Thune, Republican of South Dakota. It’s unclear exactly how the administration would back Warner’s bill or other legislation should it choose to do so.
Matt Hancock’s WhatsApp messages: what are the latest disclosures?
The UK government’s handling of the Covid-19 pandemic has been thrust into the spotlight after the leak to the Daily Telegraph of more than 100,000 private WhatsApp messages involving Matt Hancock, reports The Guardian’s Aamna Mohdin.
The cache of messages, which reveal private conversations between several senior politicians and officials, provide a unique insight into the way the UK government operated at the height of the pandemic.
Here are the five most important revelations from the investigation since Friday.
News Brands
ABC journalists halt strike action
ABC journalists have voted to postpone today’s stoppage following a new pay offer from management, reports TV Tonight.
MEAA Media members around Australia voted not to go ahead with the planned 40 minute stoppage after the ABC yesterday provided an improved offer to union representatives.
The new offer provides pay rises totalling 11% over three years -up from a 9% offer- backdated to October 1 last year, plus a $1500 sign on bonus.
Management has also agreed to conduct a transparent audit of the gender and CALD pay gap, to fix the broken buyout system, and to put in place a new pathway for career progression for early and mid-career journalists.
MEAA members met yesterday afternoon and voted to postpone the stoppage to allow negotiations to continue but reserve the right to industrial action if the outcome of talks is not satisfactory.
Radio
Sirius XM to cut 8% of workforce
Sirius XM Holdings Inc. is reducing its head count by 8%, or 475 roles, as it continues to cut costs and focus on profitability, reports the Wall Street Journal’s Dean Seal.
The satellite-radio giant said in a letter to employees Monday morning that the job cuts would affect nearly every department.
Sirius said it has already pulled back on content and marketing spending, decreased its real-estate footprint and tightened restrictions on its travel and entertainment policy in an effort to reduce its discretionary spending and minimize the need for job cuts.
Television
Weekend Today host Belinda Russell announces she’s leaving the show
Belinda Russell has announced she will no longer be hosting Weekend Today – and provided no reason for her sudden departure, reports News Corp’s Bronte Coy.
The Nine presenter, 44, shared a statement about her departure to Instagram on Sunday, along with a highlights video of her time on the show.
“Hello friends. A little career update for you,” Russell wrote.
“My time on Weekend Today has come to an end. Thanks to those who tuned in. I hope I brought some sunshine and joy to your weekends.
“I have loved the last year and am looking forward to future opportunities at Nine. Good luck to the team for 2023 and beyond!”
Carol Ferrone: “Even our off time is to the period”
Shane Warne once admitted that on I’m a Celebrity Get Me Out of Here he was allowed to smoke off camera, which is something of a revelation to Carol Ferrone, reports TV Tonight.
Appearing for a third season of ABC’s Back in Time franchise, she emphasises just how authentic the experience is for her family.
“Everything we do -whether we are on camera or not- is to the period. We eat the food of the period. Even our underwear is to the period,” she tells TV Tonight.
“Like, I would say to Wardrobe, ‘The audience does not know what bra and undies I’m wearing?’
“‘Oh but ABC does!’” was the reply.
That means no social media, no phones, no television even when the cameras aren’t rolling.