Business of Media
Netflix lays off another 300 employees
Netflix laid off 300 people on Thursday, the second consecutive month that the streaming giant has cut staff as it confronts declining subscriber growth and a falling share price, reports The New York Times’ John Koblin.
“Today we sadly let go of around 300 employees,” the company said in a statement. “While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth.”
Last month, Netflix laid off 150 workers, including staff working at Tudum, which was part of the company’s marketing division.
In April, the company announced that it had lost 200,000 subscribers, and said it anticipated losing another two million in the second quarter of this year. It has nearly 222 million subscribers in total. The company’s stock price, which has fallen about 70 percent this year, was slightly lower on Thursday.
Netflix confirms partnership talks for ad-supported service
Netflix Inc. Co-Chief Executive Ted Sarandos confirmed that the streaming company is speaking to multiple potential partners to help it enter the advertising business, telling an industry conference that it may build its own ad business in the future, reports The Wall Street Journal’s Patience Haggin.
Netflix said in April that it is exploring an ad-supported version of its platform and in recent weeks has explored a range of partnerships that could help it bring those plans to fruition. Comcast Corp.’s NBCUniversal and Alphabet Inc.’s Google have emerged as top contenders to work with Netflix, The Wall Street Journal reported Wednesday.
When asked about partnership talks with ad companies on Thursday, Sarandos replied, “We’re talking to all of them right now.”
See More: Why an ad-supported Netflix tier would be “Nirvana for advertisers”
Leave Lisa Wilkinson alone: 10 warns of defamation suit over Brittany Higgins row
The 10 Network flagged potential defamation action against other media outlets on Thursday as star presenter Lisa Wilkinson was forced to give undertakings to an ACT court not to engage in further commentary about the Brittany Higgins case or the man accused of raping her, report News Corp’s Kristin Shorten and Sophie Elsworth.
As pressure grew on The Project co-host over her speech praising Ms Higgins just days before the trial of her allegations was due to start, 10 lashed the media’s treatment of its star.
Wilkinson has cancelled her Project appearances for the week. She was scheduled to front Thursday night’s program but 10 revealed just hours before it was to air that she would not be appearing.
She was to co-host on Friday and Sunday nights but those appearances have also been cancelled.
Media, telecom deals value hits record over past 12 months, PwC finds
Big video gaming transactions, such as Microsoft’s $68.7 billion acquisition of Activision Blizzard and Elon Musk’s $44 billion takeover of Twitter, boosted M&A activity in the media and telecommunications industries for the 12 months through May 15 to a record $469 billion in deal value, accounting and consulting services firm PwC said in a Thursday report, reports The Hollywood Reporter’s Georg Szalai.
The period also included the May 17, 2021 announcement of the $43 billion Discovery-WarnerMedia megamerger and Amazon’s $8.45 billion deal for MGM, which was unveiled soon after that. There have been 1,014 deals over the 12-month period, a 28 percent increase over the same period a year earlier, PwC noted.
The first half of 2022 was “marked by the continued trajectory of strong M&A activity in the media and telecommunications sector, following the rebound in the second half of 2020,” the firm highlighted. “As we head into the second half of 2022, deal momentum continues at a vigorous pace, despite increasing interest rates, the stock market decline in the tech sector and a potential recession.”
Journalism has suddenly taken off on TikTok: What publishers need to know
Tiktok has grown into a major force on social media – but journalism and publications have, until this year, largely failed to make an impact on the app, reports Press Gazette’s Andrew Kersley.
But in 2022 something changed on TikTok and many news outlets have seen their accounts on the app explode in popularity.
Press Gazette found out why and also gathered publisher tips for success on TikTok for the latest in its Platform Profile series.
Agencies
Dentsu names Ferrah Dagli as chief people officer ANZ
Dentsu has announced the appointment of Ferrah Dagli as the new chief people officer of Australia and New Zealand.
Dagli will focus on building dentsu’s talent capability for tomorrow’s business needs, including driving commitment to diversity, equity, and inclusion, and building a culture that celebrates differences and nurtures a philosophy of creativity everywhere.
Dagli joins the agency from ANZ Bank where she partnered with the retail, commercial and digital divisions of the bank to lead and re-imagine the talent and culture components of a new digital bank.
Prior to ANZ, Dagli held roles internationally with Willis Towers Watson and HSBC in London.
The newly appointed chief people officer will commence her new role from Monday 4 July, and will report directly to Luke Speers who has been appointed chief people officer, dentsu APAC.
Radio
Eddie McGuire and Neil Mitchell clash in fiery De Goey row
It’s the on-air clash that’s got all of Melbourne talking, reports 3AW.
A war of words erupted between Eddie McGuire and Neil Mitchell on Thursday after McGuire accused the 3AW Mornings host of “making a mockery” of Jordan De Goey’s ADHD diagnosis on Footy Classified, an allegation which Neil Mitchell says is “a misrepresentation” of what he said.
“I think it needs to be corrected, or it sort of goes into folklore as fact,” Neil Mitchell said.
The former Collingwood president doubled down on his comments on 3AW, accusing Neil Mitchell of lying, and “going after people too far”.
Neil Mitchell hit back, taking aim at McGuire for a “nasty” misrepresentation of his comments.
Neil Mitchell says his feud with Eddie McGuire ‘crossed a line’ in fiery Jordan De Goey debate
When you’ve been trading names and insults for three decades is it really a feud or a faux rivalry, asks News Corp’s Jackie Epstein.
Neil Mitchell and Eddie McGuire elevated their grudge match to new levels on Thursday while arguing about Collingwood’s Jordan De Goey.
Don’t try to tell the 3AW broadcaster that it was theatre.
“It’s real, I don’t act,’’ Mitchell said post-show.
“I thought it crossed a line today. But still that’s a line we can get back over.”
Mitchell has only recently recruited his old nemesis to be a fortnightly guest for an “idea factory” segment.
“He’ll continue,’’ Mitchell said. “He just texted me asking what promo we’re doing next week.”
‘Sad decision’: 4KQ breakfast show signs off ahead of station closure
Popular 4KQ breakfast show Laurel, Gary and Mark will air for the last time on Friday ahead of the station’s official close next week in a business move the presenters say has been met with an outpouring of sadness and anger, reports News Corp’s Amy Price.
In May Sports Entertainment Network (SEN) announced it had acquired the commercial AM licence, formerly 4KQ, in Brisbane and will now switch off the classic hits station at midnight next Thursday, after 75 years, in order to transition it to sport.
Breakfast presenters Laurel Edwards, Gary Clare, and Mark Hine, who have presented the show together for 16 years, will hang up their microphones after Friday’s show, which marks the end of the current ratings period.
Television
The Hundred format sold to Greece
Andy Lee series The Hundred has sold format rights internationally, reports TV Tonight.
“The show has started in Greece, which is great,” Lee said this week.
“I expect Channel Nine will play the Greek version straight after ours with heavy subtitles.”
The Hundred with Andy Lee is an original concept by Screentime Australia and Andy Lee in association with Channel Nine.