YOUTUBE 3rd company to confirm Ad biz $$ slowdown & Q3 headwinds
SPOTIFY grows but can't turn a profit / PARAMOUNT stock gets 2nd analyst downgrade / AMAZON's massive EUROPE price hikes in Sept
Mornin! This is Sean McNulty and here’s the Hollywood + Media news to know on WEDNESDAY July 27, 2022.
Where I’ll top & tail it with jams today… handing the iPod to President Obama for his Summer 2022 playlist of classic & new songs.
I think President Trump’s is just KID ROCK’s “Devil Without a Cause” CD put on ‘Repeat’ mode, but we’ll see when he drops his. Obviously not on TWITTER.
And honestly couldn’t decide between a Vinyl joke or a FOGHAT joke for President Biden. Thinking FOGHAT was the way to go though.
PLUS: TCA begins today. At home.
ALSO: The Fed’s official decision on the next interest rate hike will come at 2p today.
AND: WBD finally set their Q2 earnings call for next Thu, Aug 4. The same day as PARAMOUNT and LIONSGATE (STARZ deal?). Devil’s advocate would say hmm… that choice of a day that’s already gonna be a busy day of news might provide some cover should they be announcing big changes or layoffs… and is looking to not have that news dominate the news cycle as much. But - it could be nothing.
OH: Chris Cuomo got a nightly show at the NEWSNATION network.
Um, 🙋♂️ what is the NEWSNATION network? It basically used to be the Chicago-based superstation/cable network WGN, that’s owned by major local TV station owner NEXSTAR (they’re the ones likely buying TheCW).
Dan Abrams hosts a nightly show there and now Chris will too apparently this Fall. More details to come.
IN THIS EDITION
SPOTIFY user growth beats expectations… but takes huge dive away from being profitable. #medianerd 🤓 breakdown #1
YOUTUBE revenue still well below NETFLIX - a look at the iffy YT Ad $$ #s numbers from GOOGLE. #medianerd🤓 breakdown #2
PARAMOUNT stock downgraded for 2nd time in 4 business days.
AMAZON turns the screws on EURO biz with massive PRIME price hikes during peak inflation.