☀️The Costs of Re-Bundling the Cable TV Bundle
AMAZON ad tier expectations leak / Q4 dark signals adding up / ENDEAVOR & others look at PGA 💰
Mornin! This is Sean McNulty (connect here on LINKED-IN if ya like) and here’s the Hollywood + Media news to know on FRIDAY Sept 29, 2023.
Where Seth MacFarlane is bringing his talented vocal stylings to a new Christmas duets album with Liz Gillies. I’d put the first single here but… yeah dude, it’s September (the album comes out on the more appropriate date of Nov 3).
GAME OFF: SAG-AFTRA and the video game industry ended their talks to find a deal without an agreement.
AND: Even consultants are telling HOLLYWOOD that they should “spurn” the idea of replacing writers with AI in the TV & Movie development process. Unlikely times bring unlikely allies 🤷♂️.
A REST IN PEACE: Goes out to Senator Diane Feinstein, who died at the age of 90.
BIGGER PICTURE 😳:
Just taking a step back here outside the business (perish the thought)… as I read a wide swath of business/economic news each day in addition to scouring our fine trades reporting, and I swear I’m not trying to be a downer here - but just seeing some economic indicators start to potentially add up out there in terms of what could be lying ahead in Q4 and beyond.
SIDE NOTE: BOFA analyst Steven Cahall noted this week that Q4 TV/Streaming Ad buying market remains “weak” according to his conversations with Ad agency sales folks.
Granted - Studios sold a lot more Ad inventory in the Upfronts to make up for Revenue gaps due to CPM losses… but this new report sheds some light that still not exactly a sign of a ‘Q4 Rebound’.
PLUS: If you didn’t read ESG’s piece on the looming rationalization for Private Equity / Production company investments of the past 3 years - highly recommend adding that to your Weekend Reading 👇
BUT BIGGER PICTURE: As September rounds out tomorrow… October brings:
The resumption of College Loan payments after a 3-year pause.
The end of pandemic-era Gov’t subsidized childcare, putting up to 70,000 child care centers at risk of closure, just as working mother participation in the labor force hit a new peak.
Throw in all-time high credit card APR’s causing a highest-ever level of US consumer credit card debt (granted, dollar inflation is a big factor - but still, Amercians’ carried debt is getting increasingly more un-payable):
AND: Only the richest 20% of Americans still having any increased savings from the pandemic at this point:
DON’T FORGET: Oil prices have surged this month to their highest rate in over a year:
As more job postings turn out to be total bunk, according to a new analysis.
AND: Well, good thing at least next week’s MAX Sports tier launch is free until the end of Feb.
It’ll be interesting to see if the economic “expert” consensus for a ‘soft landing’ waffles 🧇 twice in one year, along with their economic/recession prediction outlooks changing again… in roughly a 6-8 week timeframe #EveryonesAnExpert.
WAKEUP BOX OFFICE POLL RESULTS:
Speaking of experts: