Streaming's New Bad Omen
Oh Snap! Advertisers are suddenly ghosting social media. Will Hollywood follow the same fate?
Earnings season is underway, and everyone should be taking notice of Snapchat’s dismal performance (and Twitter’s that followed). The tech company’s stock took a 27 percent nosedive immediately after reporting shocking ad sales declines. That portends a bleak near future for every ad-dependent entity — including Netflix and the streaming services increasingly pivoting to advertising to save the day. Is the chill temporary or is a new ice age afoot? Janice Min, Tatiana Siegel and The Wakeup’s Sean McNulty break it down. Also: Yellowstone is TV’s biggest hit, but Hollywood isn't rushing to replicate its success. And TCA scraps its in-person event and goes virtual. Is it really about Covid — or just a convenient excuse?