Streaming’s New Bad Omen

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?