100% Media Roundup: 16 May- 20 May
This is a daily digest of news stories from around the media world, updated by The Media Leader team, to ensure you’re 100% up-to-date.
Friday 20 May
Twitter announces new ‘crisis misinformation policy’
Twitter is introducing a new “crisis misinformation policy” to “help ensure viral misinformation isn’t amplified or recommended by [Twitter] during crises”.
Under the new policy, in a time of “crisis”, as soon as the company has evidence that a claim may be misleading, it will not amplify or recommend that content across the Home timeline, search, or Explore. The company will also prioritize adding warning notices to highly visible tweets, such as from high profile state-affiliated media or official government accounts.
In addition to hiding said tweets, likes, retweets, and shares will be disabled. However, inaccurate tweets will not be removed.
Twitter’s examples of what qualifies as a crisis included “situations of armed conflict, public health emergencies, and large-scale natural disasters”.
Twitter notes that strong commentary, efforts to debunk or fact check, and personal anecdotes or first-person accounts do not fall within the scope of the policy.
The new misinformation policy comes as the social media company has been heavily criticized by its own potential CEO-to-be, Elon Musk, for not “rigorously adhering” to principles of free speech.
Snapchat expands ecommerce offer with eBay integration
Snap is partnering with eBay to integrate eBay listings into Snapchat.
Snapchatters will be able to easily share eBay listings with their friends in their Snaps using the app’s camera function.
The move comes as Snapchat seeks to continue expanding into ecommerce. At the company’s annual Partner Summit last month, Snap announced a new “Dress Up” category dedicated to online shopping, including a new virtual try-on feature.
The feature is now available on both iOS and Android.
TikTok planning ‘big push into gaming’
TikTok is planning a big push into gaming, according to a report by Reuters.
The company has been testing the use of in-app games in Vietnam, with the social media platform drawing from parent company ByteDance’s extant suite of games.
TikTok is already one of the world’s most used apps and adding games to the service would open a new potential stream for advertising revenue.
The rollout is expected in Southeast Asia and could come as early as the third quarter of 2022; Reuters was unable to confirm if and when gaming features would be released in other markets.
IPG hires Channing Martin new global chief diversity
IPG has named Channing Martin its new global chief diversity, social impact officer.
Martin replaces Heide Gardner, who worked as IPG’s chief diversity officer for almost two decades before retiring.
Martin, who steps into her new role effective immediately, will report to IPG CEO Philippe Krakowsky. She will be tasked with leading and expanding the holding company’s diversity, equity, and inclusion practices.
Before joining IPG, Martin worked as chief diversity and social responsibility officer at CSG, a business software company. She has also worked in DE&I roles for the State Department and Federal Reserve Bank of Chicago.
Thursday 19 May
Snap names Surekha Kern head of new business EMEA
Snap has named Surekha Kern to the newly created role of head of new business EMEA.
Kern will be based in London and report to Sam Bevan, director of emerging EMEA.
She previously worked in global ads sales for companies such as MTV, Sunrise Television, and Discovery. Most recently she was head of new business EMEA for discount website Unidays.
In the new role, she will manage a team across the EMEA region focusing on activating Snap’s next generation of partners for Snapchat.
NY launches investigation into Twitch, Discord, 4chan after Buffalo massacre
New York attorney general Letitia James announced that her office is launching investigations into social media companies in connection with the shooting in Buffalo that led to the death of 10 individuals.
The investigation will include but is not limited to Twitch (owned by Amazon), 4chan, 8chan, and Discord.
The attack, which was livestreamed on Twitch, was taken down by content moderators within two minutes. However, the video continued to spread around the web in the hours afterward.
Read Raymond Snoddy’s latest column: Advertisers must lead in combatting ‘replacement theory’ hate
Netflix is losing subs ‘among long-standing subscribers’
Netflix is losing more long-term subscribers, according to a survey received by The Information through analytics firm Antenna.
More than one in eight (13%) of cancellations during Q1 2022 were from subscribers that have been with the streaming service for at least 3 years, a significant increase from two years ago, when just 5% of cancellations came from long-term users.
The data helps to break down why Netflix lost subscribers for the first time last quarter.
Meanwhile, 3.6 million users cancelled their subscriptions in Q1 2022, a 44% increase from 2.5 million cancellations in Q1 2021 and a 71% increase from 2.1 million cancellations in Q1 2020.
Chris Wallace, Eva Longoria, Stanley Tucci shows moving to CNN, HBO Max
Some flagship CNN+ programs will be moving to CNN and HBO Max, Warner Bros. Discovery announced at their upfront presentation.
Stanley Tucci’s acclaimed Searching for Italy series, as well as Eva Longoria’s Searching for Mexico will both be retained and move to CNN’s linear channel. Chris Wallace’s talk show Who’s Talking to Chris Wallace will move to CNN and HBO Max in the fall.
CNN+ shut down after less than a month of streaming due in part to a disagreement between leadership at Warner Bros. and Discovery that came to a head following the companies’ merger.
Wednesday 18 May
Acquisitions swell Future to £404m in revenue
After a number of acquisitions in recent months, Future’s revenue swelled to £404m in HY 2022, representing a 48% total growth in revenue.
Strategic acquisitions included Dennis Publishing, WhatCulture.com, and Waive, with WhoWhatWear announced as the media company’s most recent buy.
Organic growth was more modest with media revenue delivering 5% organic growth, bringing media revenue’s average growth to 18% over the past two years, and magazines seeing 3% organic growth.
Future also noted that digital advertising now represents 25% of Future’s revenue – up 10% since HY 2021.
Netflix lays off 150 staffers
Netflix announced it would be laying off 150 staff members, mostly in its California office, due to “business needs rather than individual performance”, according to reports.
Netflix shed subscribers for the first time in over a decade last quarter, resulting in slowed revenue growth.
In response, Netflix has also announced it would be introducing an ads tier as early as this fall and has headed off some productions, including Meghan Markle’s Pearl.
The redundancies amount to roughly 2% of Netflix’s staff.
Read more: The likely shape of ads on Netflix: where we go from here
Paramount’s Pluto TV launches in Nordics
Pluto TV, a Paramount company, has expanded to the Nordics, launching in Sweden, Denmark and Norway.
The launch follows a deal between Paramount and the Nordic Entertainment Group (NENT Group). Pluto TV, will launch in combination with a local AVOD service, Viafree, which will eventually be phased out as a stand-alone service.
Tuesday 17 May
Disney reveals Disney+ ad plan ahead of upfronts
Disney+ will launch its ads tier with a “lighter ad load” and won’t take ads for alcohol or politics to begin with, according to reports ahead of Disney’s upfront presentation.
The entertainment company plans to limit ad breaks on its shows to just four minutes per hour. For reference Disney’s other streaming service Hulu has closer to 10 minutes of ads per hour, and the average cable TV show has around 16 minutes.
The family-friendly streaming service has also signaled to ad agencies that it will be cautious about running commercials alongside shows aimed at young audiences. For example, no ads will be run if it is indicated that a preschool-aged child is watching.
The ad-supported version of Disney+ is expected to launch later this year.
The Independent announced as exclusive news and publishing partner for Pride in London
The Independent announced it is partnering with this year’s Pride in London, the only news brand and publisher to do so.
The publisher will “take an active role” in highlighting issues such as protection against hate crimes and conversion therapy.
In addition, the partnership will see The Independent provide Pride in London with extensive advertising inventory.
Pride in London will take place in June and July, with major events including the Proud and Loud event at The Royal Albert Hall on 4 June and the Pride in London parade and festivities on 2 July.
Read more: Independent CEO Zach Leonard has a global plan after five years of profit
Warren Buffett’s company acquires 14% stake in Paramount
Warren Buffett’s company, Berkshire Hathaway, has made a $2.6bn stake in Paramount Global, according to a securities filing disclosed yesterday.
Paramount Global’s market cap stands at $18.27bn at the time of publication, meaning Buffett’s stake is equivalent to roughly 14% of the company.
Shares of Paramount Global rose over 8% in pre-market trading following the news.
Berkshire Hathaway also has major investments in Apple and Amazon, which have both expanded their streaming platforms, as well as Charter Communications, who is seeking to enter the streaming market through Comcast.
Hearst UK rebrands experience arm
Hearst UK has rebranded its events business to become HearstX, which will seek to create experiences in both physical and digital realms.
Curated experiences will leverage emerging AR and VR technology to attract multi-platform audiences.
Hearst UK has hosted branded events for over 20 years, such as the Harper’s Bazaar Women of the Year Awards and Country Living Shows.
Amazon Freevee now has dedicated Apple TV app
Amazon’s free ad-supported streaming service Freevee now has a dedicated Apple TV app.
The service previously could have been accessed within Apple TV through Amazon Prime Video’s app, but has now spun off.
The streaming service was rebranded from IMDb TV in April to Amazon Freevee to emphasize the free nature of its content offerings.
Freevee’s offerings include TV hits like The West Wing, Friday Night Lights, Community and Hell’s Kitchen, as well as cult films like Donnie Darko and Gattaca.
PubMatic expands CTV business in Europe
Independent digital advertising company PubMatic announced new CTV partnerships in the EMEA region with FUNKE, Rakuten Advertising, and waipu.tv.
The expansion brings the total number of CTV providers available to buyers via PubMatic to 176 globally.
PubMatic also promoted CTV specialist Hitesh Bhatt to senior leadership to help guide the company’s CTV strategy as senior director, CTV/OTT, EMEA.
S4 Capital announces ‘combination’ with tech services firm TheoremOne
S4 Capital has announced a “combination” between its digital production company MediaMonks and technology services firm TheoremOne.
The move “significantly expands the capabilities of [S4’s] technology services practice.
Headquarted in Los Angeles, TheoremOne was founded in 2007 and has been led by CEO Brad Brim-DeForest since 2017.
The company helps clients build, support, and manage their digital products, services, and experiences, with revenues of over $58m in 2021.
Monday 16 May
Paramount Global announces international leadership
Paramount Global has announced key leadership appointments to further the company’s international expansion of its streaming products.
Marco Nobili has been promoted to executive vice president, international general management of Paramount+, and Olivier Jollet has been elevated to the role of executive vice president, international general manager of Paramount-owned, ad-supported Pluto TV.
The pair will report to Raffaele Annecchino, president and CEO of international networks, studios, and streaming, and Tom Ryan, president and CEO of streaming.
Nobili previously worked as senior vice president of international marketing, data & analytics for Paramount Global’s streaming division. Jollet previously worked as senior vice president and general manager of Pluto TV internationally.
Paramount+ is expanding into the UK, South Korea, and European countries later this year, and in India in 2023.
Paramount, previously ViacomCBS, owns CBS in the US and Channel 5 in the UK, as well as the MTV, Comedy Central, and Nickelodeon broadcast networks.
Dentsu International reports 8.4% organic growth, record-high Q1 net revenue performance
Dentsu International, the parent company of agencies Carat and iProspect, has reported a strong 8.4% organic growth increase in Q1 2022, according to its latest financial results.
Dentsu Group and Dentsu Japan Network notched 9.1% organic growth and 10.0% organic growth, respectively.
As a result of the strong first quarter, the Group has upgraded its fiscal year 2022 growth guidance from 4% to 5%.
Sky announces new factual commissions
Sky has announced six new factual commissions – three for Sky Documentaries, and one each for Sky Crime, Sky Nature, and Sky History.
The documentary titles include The Assassination of Olof Palme, Italia 90’, and The Essex Murders.
Meanwhile three-part series Libby Are You Home Yet, nature doc Arctic From Above with Liz Bonnin, and drama-doc The Royal Mob will be released on Sky Crime, Sky Nature, and Sky History respectively.
The titles are currently in production and will air in late 2022 and early 2023 across Sky and streaming service NOW TV.
Netflix ‘exploring livestreaming for first time’
Netflix is planning to roll out livestreaming capabilities, which the streamer confirmed was in the early stages of development, according to a report by Deadline.
Netflix is looking to use livestreaming for its unscripted productions and stand-up comedy specials, and could also leverage the capability to introduce live voting for competition shows.
Though there is “no timeline” for a product release, the foray into livestreaming comes as Netflix reported a reduction in subscribers for the first time in over a decade last quarter, while other streaming platforms gained ground.
Read more: The likely shape of ads on Netflix: where we go from here
In case you missed it last week
Study: British news content generates £1bn in UK revenues for Google, Facebook
Mental Health Awareness Week: what media companies are doing
Why are so many streaming services named with a ‘plus’?
Channel 4 and YouTube agree content and commercial partnership
Bloomberg takes on UK business press with brand launch
BT and Warner Bros Discovery confirm terms for joint TV venture
Innovid: CTV overtakes mobile as device with most global video impressions
Watch: Why diversity is a triple win and how to do it right
How Amazon’s Twitch is responding to a post-lockdown plateau
Tobii’s Mike Bartels: attention data a ‘no-brainer’ for future of media