President Joe Biden called Lester Holt a 'wise guy' during a TV interview on Thursday after the NBC News anchor asked him for his definition of 'temporary' on the day inflation showed no sign of slowing and instead hit a 40-year high, reports The Daily Mail.
The White House has insisted that spiraling prices are 'transitory' and will begin coming down as pandemic supply chain pressures ease.
But on Thursday, the Labor Department reported that year-on-year inflation hit 7.5 percent in January - its highest level since 1982.
'I think it was back in July, you said inflation was going to be temporary,' said Holt.
'I think a lot of Americans are wondering what your definition of temporary is.'
Biden smiled as he pushed back: 'Well, you're being a wise guy with me a little bit.
'I understand, that's your job.'
The issue has sent Biden's approval ratings plunging and previous efforts to dismiss increases as temporary led critics to accuse him of being out of touch.
During the interview, which will be broadcast in full before Sunday's Super Bowl, Holt pushed Biden to explain when Americans could expect some relief.
'According to Nobel laureates - 14 of them that contacted me - and a number of corporate leaders it ought to be able to start to taper off as we go through this year,' he said.
Americans paid more for virtually every facet of life last month, from food to cars, and even housing and their monthly bills.
Energy costs rose by a staggering average of 27 percent, amid right-wing criticism of Biden's efforts to revamp the sector and move away from a dependence on fossil fuels.
The latest data show drivers are still hurting at the pump, with gas prices up 40 percent from last year. Used cars and trucks are up by 40.5 percent.
Costs at the dinner table are also up. Grocery prices are up by an average 7.4 percent since January 2021. People can also expect to pay more for meat, eggs, poultry and fish after their costs rose by 12.2 percent last month.
As the Winter Olympics near the halfway point, NBC’s viewership is nearly half of what it was four years ago and is on pace to be the lowest in the event’s history, reports Bloomberg.
An average of 12.3 million nightly viewers per day have watched the Winter Olympics on Comcast Corp.’s NBCUniversal TV and streaming channels through Feb. 8. That compares with about 23 million viewers at the same point for the 2018 games in PyeongChang, South Korea, according to an NBC spokesman.
NBC anticipated about 40% fewer viewers than four years ago and cut its ad rates by a similar amount, according to people familiar with the matter. The network was trying to avoid what happened during the Tokyo games last summer, when the ratings fell below what it had guaranteed. That hurt NBC’s potential revenue because the broadcaster had to give additional commercial time to advertisers to make up for the shortfall.
So far this week, NBC’s Olympics viewership is roughly on par with what it promised, said Adam Schwartz, director of sports media at Horizon Media.
“Do I want the ratings to be down 40%? Absolutely not,” said Schwartz, whose clients bought commercial time during the games. “But I don’t think it’s a cause for panic about the Olympics whatsoever.”NBC is hoping to make up for lower ad rates by airing the games on more platforms than in 2018, including TikTok and Peacock, its streaming service. That has boosted the amount of commercial spots the company can sell. As a result, NBC could lessen any potential financial hit from the ratings decline.
“Is there a scenario where we make as much, if not more? Yeah, there’s a scenario,” Dan Lovinger, NBCUniversal’s president of advertising sales and partnerships, said in an interview.
NBC generated $920 million in national ad sales for the PyeongChang games and turned a profit. Lovinger declined to say how much revenue NBC expects for these Olympics. The combined sales from the Winter Olympics and the Super Bowl, which NBC will air on Sunday, would be about the same as in 2018, when it also aired both events, he said. The network has said this year’s Super Bowl set an ad-price record, as much as $7 million for a 30-second spot.
There are many theories for why the Olympics ratings are down. There’s the general decline in TV viewing; a 13-hour time difference between Beijing and the East Coast; a controversy over the host country’s human rights record; fewer fans attending due to Covid-19 restrictions; and potential viewer fatigue with a second Olympics just six months after the summer games.
Like last summer in Tokyo, NBC is hoping the games will draw viewers to Peacock. The streaming service is showing every Olympics event for the first time to people who sign up for its $5-a-month premium tier. NBC said total digital usage of the Olympics, including Peacock, surpassed 1 billion minutes, the fastest it had hit that milestone for a winter games.
NBC is also using the Olympics as a testing ground for a new way to measure viewership. While its advertising deals are still based on ratings provided by Nielsen, NBC is promoting audience data this week from market researcher iSpot.TV. That data has shown Olympics viewers are more engaged in the commercials, among other things.
Sarah Palin said at her defamation trial against the New York Times on Thursday she felt "powerless" after a 2017 editorial incorrectly linked the prominent Republican to a mass shooting six years earlier, accusing the newspaper of trying to "score political points," reports Reuters.
Before both sides rested their cases, the former Alaska governor and 2008 Republican U.S. vice presidential candidate told jurors in Manhattan federal court that she was "mortified" after the editorial appeared to connect her to inciting murder.
"It's hard to lay your head on a pillow and have a restful night when you know that lies are told about you, a specific lie that was not going to be fixed," Palin testified under questioning from her lawyer. "That causes some stress anyone would feel."
Palin, 57, said the Times was "trying to score political points," calling the newspaper "the be-all, end-all, the loud voice in American media." Palin likened the newspaper to the biblical giant Goliath, and herself to the underdog David.
"It was devastating to read, again, an accusation, a false accusation that I had anything to do with murder, murdering innocent people," Palin said. "And I felt powerless."
Under cross-examination by Times lawyer David Axelrod, however, Palin struggled to provide specific examples about how the editorial harmed her reputation, while saying that "things changed" and many people thought less of her.
Palin testified for about 3-1/2 hours over two days, following testimony by James Bennet, a former Times editorial page editor and also a defendant in her lawsuit.
Bennet said he never intended to blame Palin or her political action committee in the disputed editorial headlined "America's Lethal Politics," which addressed gun control and the growth of incendiary political rhetoric.
After six days of testimony, closing arguments are scheduled for Friday. Jurors may begin deliberating Friday afternoon or on Monday.
A New York state appeals court freed the New York Times to publish documents concerning the conservative activist group Project Veritas, putting on hold a lower court ruling that alarmed First Amendment advocates, reports Reuters.
In an order made public on Thursday, the Appellate Division in Brooklyn stayed a December ruling that blocked the Times from publishing memoranda from an in-house Project Veritas lawyer, and required the newspaper to turn over or destroy the memos.
Critics called the ruling by Justice Charles Wood of the state Supreme Court in Westchester County an unconstitutional prior restraint. Project Veritas has said the memos are protected by attorney-client privilege.
While not setting aside Wood's ruling, Thursday's order means it will not be enforced during the Times' appeal.
Elizabeth Locke, a lawyer for Project Veritas, said she was pleased the court denied the Times' "overreaching request" to vacate the ruling, and was confident it would find that the Times "violated Veritas' substantial rights by acquiring and publishing attorney-client privileged materials in the midst of ongoing litigation."
Led by James O'Keefe, Project Veritas has used what critics view as deceptive tactics to expose what it describes as liberal media bias.
The Times obtained the disputed memos in connection with coverage concerning a U.S. Department of Justice probe into Project Veritas' possible role in the theft of a diary from President Joe Biden's daughter Ashley.
Project Veritas objected to a Nov. 11 Times article that drew from the memos, calling it an attempt to embarrass a litigation opponent.
The group is suing Times for defamation over an unrelated September 2020 article describing a video it released about alleged voter fraud in Minnesota.
Country Radio Specialists Albright & O’Malley & Brenner have added a new session on how sales and programming can create successful brand integration into station events and programs. A panel of branding experts will cover everything from inception to execution to help attendees develop win-wins for programming and sales.
VP/Consulting Partner Becky Brenner comments, "Attendees will walk away with an understanding of best practices and the ability to reach the prospects and decision-makers who are spending money." This panel of experts features CMA VP of Strategic Initiatives Emily Evans, Owner and President of REACH Lindsay Bertelli, and Wasserman Music VP of Branding Chappel McCollister.
Emily Evans, Lindsay Bertelli and Chappel McCollister
Emily Evans has worked on branding, marketing, and sponsor integration for numerous artists, including Taylor Swift, Tim McGraw, Faith Hill, and more. With the Country Music Association, Emily oversees the development of brand strategies for the CMA Awards, CMA Fest, CMA Country Christmas, and CMA Songwriters Series. Emily is also responsible for CMA’s efforts to educate corporate brand executives on Country Music consumers and the many opportunities for partnership with Country Music artists and CMA properties.
As Owner and President of REACH, Lindsay Bertelli has 20+ years of in-depth experience in strategic brand marketing campaigns and tour/event promotion and production. Her work with top entertainment and corporate clients has made her a well-known force in the industry with the knowledge and expertise needed to navigate the changing and increasingly virtual, event and sponsorship environment.
Chappel McCollister represents Wasserman’s music clients across various areas, including brand & corporate partnerships, premium VIP experiences, and product licensing. McCollister was previously with Sandbox Entertainment, where he executive produced the Showtime documentary chronicling Tim McGraw and Faith Hill's 2017 Soul2Soul tour and helped launch Mattel’s 60th anniversary of Barbie campaign featuring Kelsea Ballerini.
Evans, Bertelli, and McCollister join the previously announced panel “The Next Generation of the Connected Country Listeners” with Futuri Founder/CEO Daniel Anstandig. Guests will also enjoy a performance from BMLG Nashville newcomer Laci Kaye Booth.
The A&O&B team will present the first highlights from their 16th annual online perceptual study, “Roadmap 2022.” Data analysis from thousands of Country P1's from across the U.S and Canada will focus on the state of country music and country radio, along with social media & technology.
The seminar is free to clients, industry professionals, and broadcasters in non-competitive situations.
British singer-songwriter Sting has sold his career music catalogue to Universal Music Publishing Group (UMPG), the company said on Thursday, in the latest such move by an artist to cash in on their work, reports Reuters..
The deal comprises the entirety of Sting's solo works as well as those when he was with rock band The Police - including classics "Every Breath You Take", "Roxanne", "Shape Of My Heart", "Message in a Bottle", "Fields Of Gold", "Desert Rose" and "Englishman in New York" among others.
UMPG, the publishing arm of Universal Music Group (UMG), did not disclose financial details of the deal, which brings together Sting's music publishing and recorded music catalogues, while sources familiar with the matter told Reuters that the deal was valued at $300 million.
"It is absolutely essential to me that my career's body of work have a home where it is valued and respected – not only to connect with longtime fans in new ways but also to introduce my songs to new audiences, musicians and generations," Sting said in a statement.
"Throughout my career, I have enjoyed a long and successful relationship with UMG as my label partner ... so it felt natural to unite everything in one trusted home, as I return to the studio, ready for the next chapter."
The Police, of which Sting was co-founder, frontman and bassist, released five studio albums between 1978 and 1983.
As a solo artist, he has released more than a dozen studio albums, starting with 1985's "The Dream of Blue Turtles". His latest record "The Bridge" was released in November.
The 70-year-old's many accolades include three BRIT Awards, including one for Outstanding Contribution to Music, Billboard Magazine's Century Award, a Golden Globe and Emmy Award. He has been nominated for an Oscar four times.
Sting, also an actor, was inducted into the Songwriters Hall of Fame in 2002. His songs have been covered by the likes of Johnny Cash, George Michael and Herbie Hancock among others.
In 2019, U.S. performing rights organization BMI said mega hit "Every Breath You Take" was the most played song in radio history.
➦1938…'The Big Broadcast of 1938' opened in theaters. It is a Paramount Pictures musical comedy film featuring W. C. Fields, Martha Raye and Bob Hope.
The film is the last in a series of Big Broadcast movies that were variety show anthologies. This film featured the debut of Hope's signature song, "Thanks for the Memory" by Ralph Rainger. He and Leo Robin won the 1939 Oscar for Best Song for the song. In the movie they song was performed by Bob Hope and Shirley Ross.
➦In 1940... NBC radio presented “The Chamber Music Society of Lower Basin Street” for the first time. The famous Blue network series included several distinguished alumni — among them, Dinah Shore and Zero Mostel. The chairman, or host, of “The Chamber Music Society of Lower Basin Street” was Milton Cross.
Milton Cross
He would say things like, “A Bostonian looks like he’s smelling something. A New Yorker looks like he’s found it.” The show combined satire, blues and jazz and was built around what were called the three Bs of music: Barrelhouse, Boogie Woogie and Blues.
➦In 1941...Glenn Miller's 'Chattanooga Choo Choo' was released on RCA Records. It was originally recorded as a big band/swing tune and featured in the 1941 movie Sun Valley Serenade. It was the first song to receive a gold record for sales of 1.2 million copies.
➦In 1949...the private-eye radio drama Yours Truly, Johnny Dollar debuted on CBS Radio, with Charles Russell in the title role. It amazingly survived five changes in the lead actor during its 13 year run.
➦In 1960...The Payola scandal reached a new level of public prominence and legal gravity, when President Eisenhower called it an issue of public morality and the FCC proposed a new law making involvement in Payola a criminal act, according to History.
What exactly was Payola? During the hearings conducted by Congressman Oren Harris (D-Arkansas) and his powerful Subcommittee on Legislative Oversight—fresh off its inquiry into quiz-show rigging—the term was sometimes used as a blanket reference to a range of corrupt practices in the radio and recording industries. But within the music business, Payola referred specifically to a practice that was nearly as old as the industry itself: manufacturing a popular hit by paying for radio play.
As the Payola hearings got under way in February 1960, the public was treated to tales of a lavish disk-jockey convention in Miami bought and paid for by various record companies. One disk jockey, Wesley Hopkins of KYW in Cleveland, admitted to receiving over the course of 1958 and 1959 $12,000 in “listening fees” from record companies for “evaluating the commercial possibilities” of records.
Another DJ named Stan Richard, from station WILD in Boston, also admitted to receiving thousands of dollars from various record promoters, and though like Hopkins he denied letting such fees affect his choice of which records to play on the air, he also offered a vigorous defense of Payola, comparing it to “going to school and giving the teacher a better gift than the fellow at the next desk.”
He practically likened it to Motherhood and Apple Pie: “This seems to be the American way of life, which is a wonderful way of life. It’s primarily built on romance—I’ll do for you, what will you do for me?” It was this comment that prompted President Eisenhower to weigh in on February 11, 1960, with his condemnation of Payola.
Dick Clark testifies
But what explains the involvement of Congress in this issue? Technically, the concern of the Harris Committee was abuse of public trust, since the airwaves over which radio stations broadcast their signals are property of the people of the United States. However, 1960 was also an election year, and Rep. Harris and his colleagues on the Subcommittee were eager to be seen on the right side of a highly visible “moral” issue. Though it is widely agreed that the famous 1960 hearings on Payola merely reorganized the practice rather than eradicating it, those hearings did accomplish two very concrete things that year: they threatened the career of American Bandstand‘s Dick Clark and they destroyed the man who gave rock and roll its name, the legendary Cleveland disk jockey Alan Freed.
The Beatles in concert, Washington DC
➦In 1964...The Beatles played their first U.S. concert at the Coliseum Arena in Washington, DC. Tickets ranged from $2 to $4.
The band had traveled from New York to Washington, DC early in the day by rail, as an East Coast snowstorm had caused all flights to be cancelled. Upon arrival at Washington's Union Station The Beatles were greeted by 2,000 fans who braved the eight inches of snow on the ground. They gave a press conference before visiting WWDC, which had been the first US radio station to play a Beatles record.
Also on the bill at the Coliseum were The Chiffons and Tommy Roe. However, The Chiffons were unable to make it due to the previous day's snowstorm. Instead, the opening acts were Jay & The Americans, The Righteous Brothers and Tommy Roe.
The Beatles took to the stage at 8.31pm, and performed 12 songs: Roll Over Beethoven, From Me To You, I Saw Her Standing There, This Boy, All My Loving, I Wanna Be Your Man, Please Please Me, Till There Was You, She Loves You, I Want To Hold Your Hand, Twist And Shout and Long Tall Sally.
The group were performing in the round, and Ringo Starr's drum riser was turned 180 degrees after the third song by Mal Evans, to allow the audience behind them to watch the performance. This was repeated again after I Wanna Be Your Man, and following She Loves You they turned 45 degrees.
➦In 1994…Actor William Conrad died after a heart attack at age 73. He’d been an extremely busy member of the Hollywood talent pool for bigtime radio, notably playing Marshall Matt Dillon in CBS Radio’s Gunsmoke. On TV he starred in two series, “Cannon” & “Jake and the Fat Man,” and also was greatly in demand for narration.
Conrad estimated that he played more than 7,500 roles during his radio career, including providing the voice of Marshal Matt Dillon in the radio version of 'Gunsmoke'. At KMPC L-A, the 22-year-old Conrad produced and acted in The Hermit's Cave (circa 1940–44), the Los Angeles incarnation of a popular syndicated horror anthology series created at WJR Detroit
In January 1956, Conrad was the announcer on the debut broadcast of The CBS Radio Workshop, a two-part adaptation of Aldous Huxley's Brave New World which Huxley himself narrated.
➦In 2012…singer Whitney Houston was found dead submerged in her bath tub at a posh LA hotel. Cause of death was a lethal combination of prescription drugs and liquor. She was 48. An L-A Coroner's report concluded Houston drowned accidentally and autopsy results revealed heart disease. Chronic cocaine use was a contributing factor.
➦In 2013...Tom Aspell, a veteran foreign correspondent for NBC News, died after a two-year battle with lung cancer at age 62.
Bob Simon - 2010
➦In 2015…Bob Simon, the longtime “60 Minutes” correspondent and legendary CBS News foreign reporter died when the limo he was in was involved in a car accident in New York City, at age 73. He was one of a handful of elite journalists who had covered the important news events of the late 1960’s to the present.
Tina Louise is 88
🎂HAPPY BIRTHDAYS:
Actor Conrad Janis (“Mork and Mindy”) is 94.
Singer Jimmy Carter of The Blind Boys of Alabama is 90.
Actor Tina Louise (“Gilligan’s Island”) is 88.
Musician Sergio Mendes is 81.
Actor Philip Anglim (“The Thorn Birds”) is 70.
Sheryl Crow is 60
Actor Catherine Hickland (“One Life to Live”) is 66.
Drummer David Uosikkinen of The Hooters is 66.
Actor Carey Lowell (“Law and Order”) is 61.
Singer Sheryl Crow is 60.
Actor Jennifer Aniston is 53.
Actor Damian Lewis (“Billions”) is 51.
Singer D’Angelo is 48.
Actor Brice Beckham (“Mr. Belvedere”) is 46.
Vocalist Mike Shinoda of Linkin Park and of Fort Minor is 45.
The Academy of Country Music® announced today the nominations for the 57th Academy of Country Music Awards™, honoring country music’s biggest stars and emerging talent, and celebrating the year’s top hits, most successful collaborations, and thrilling performances.
Jimmie Allen and Gabby Barrett revealed this year’s ACM Award nominees for Entertainer of the Year, Female Artist of the Year, Male Artist of the Year, New Female Artist of the Year, and New Male Artist of the Year on the ACM Awards Twitter, where Allen and Barrett both surprised each other with respective nods in the Male and Female Artist of the Year categories and shared their excitement about co-hosting this year’s show with Dolly Parton.
This year's show, on Prime Video, will make history as the first major awards show to livestream exclusively and promises to be a nonstop party, bringing legendary artists together with today’s favorites for exciting and unexpected collaborations, surprising moments fans will never forget, and world television-premiere performances. Further details including the ACM Awards performance lineup will be announced in the coming weeks.
The 57th Academy of Country Music Awards, hosted by global icon Dolly Parton and co-hosted by reigning ACM New Male Artist of the Year winner Jimmie Allen and reigning ACM New Female Artist of the Year Gabby Barrett, will stream live on Prime Video and without commercial interruption, on Monday, March 7, 2022, 8:00 p.m. EST/7:00 p.m. CST/5:00 p.m. PST from Allegiant Stadium in Las Vegas.
🎸Nominee Highlights for the 57th Academy of Country Music Awards:
Chris Young leads with seven nominations including Album of the Year and Single of the Year. Young shares three of his nominations with fellow artist and collaborator Kane Brown for their song Famous Friends.
Miranda Lambert receives record-tying 16th Female Artist of the Year nomination (tied with Reba McEntire), as well as four other nominations.
Walker Hayes receives five nominations as a first-time nominee. This comes 17 years after Hayes moved to Nashville to pursue a career in music.
Women continue to see an increase in representation, pulling in 37% of nominations, compared to an average of 35% in the past 5 years (2% increase).
The Academy continues its legacy of being the first to recognize artists early in their careers, with 35% of this year’s nominees being first-time nominees overall, or first-time nominees in their respective categories.
57th Academy of Country Music Awards co-hosts Jimmie Allen and Gabby Barrett receive their first nods in the Male Artist of the Year and Female Artist of the Year categories, respectively.
Women make up 50% of the producers and directors in the Video of the Year nominations.
Nominations include three members of the LGBTQ+ community. TJ Osborne of Brothers Osborne receives a nomination for Duo of the Year, Lily Rose receives a nomination for New Female Artist of the Year, and Shane McAnally receives four nominations.
Chris Stapleton receives five nominations including his fourth nod for Entertainer of the Year and his seventh for Male Artist of the Year.
Luke Combs, Miranda Lambert and Chris Stapleton are nominees for Entertainer of the Year. A win for either artist in that category will also clinch the coveted Triple Crown Award, which consists of an Entertainer of the Year win, plus wins in an act’s respective New Artist (male, female, or duo or group) and Artist (Male, female, duo or group) categories.
Kelsea Ballerini and Miranda Lambert both receive nominations as producers for the first time.
Nicolle Galyon receives her first Songwriter of the Year nomination. She has previously been nominated for three ACM Awards, winning two. She is the second woman to be nominated for Songwriter of the Year.
Ryan Hurd and Maren Morris are the first married couple to be nominated in the same year since Tim McGraw and Faith Hill in 2017.
With the vision of an outlier, Scott Shannon created one of the most successful radio stations and music formats in the history of the business. In just 74 days, he took New York City’s Z100 WHTZ from Worst to First in 1983 and it has dominated the market for 39 years.
Z100's Elvis Duran
Elvis Duran has hosted the morning show for the past 26 years and is the most listened-to morning show host in America. The two of them are fierce competitors today with Duran on Z100 and Shannon on Classic Hits WCBS 101.1 FM, but they have formed a lasting friendship built on mutual respect and admiration.
Together, they created Worst to First: The True Story of Z100 New York, a feature-length documentary that premieres tomorrow, February 11, on VOD platforms including Apple/iTunes, Amazon, GooglePlay, Vudu, and Microsoft. Additionally, it will be available on such cable platforms as InDemand (Comcast, Spectrum, Charter, Cox, Frontier, etc.) and DirectTV.
“What Scott Shannon did - taking a little swamp-based radio station and making it the greatest radio station in America - is the stuff of legend,” comments Duran. “Easy to say now, but this was Radio 101. Everyone in radio should know this story. I’m happy I had the chance to team with Scott and share this tale with the world.”
WCBS-FM's Scott Shannon
Shannon comments, “At first I thought the documentary was a crazy idea and I’m still a little suspicious. I’d like to thank Elvis for participating in this labor of love because I know he thought it was a wacky idea too!”
Worst to First portrays the against-all-odds inspirational story of New York City’s Z100. Shannon’s merry band of misfits began broadcasting from the swamps of New Jersey where no artist would venture and the DJs had to buy their own records just to have music to play on air. Fun, chaotic and aspirational, the film features Scott Shannon and other Hall of Fame radio personalities as well as industry legends like Clive Davis, Elvis Duran, Don Ienner, Tom Poleman and Patty Steele.
Iconic artists who exploded on Z100 such as Jon Bon Jovi, Joan Jett, Tony Orlando, Nile Rodgers, and era superstars, Debbie Gibson and Taylor Dayne, all share their personal stories of the importance of the station, their love of radio and passion for performing music.
Capturing the times, personalities and music of the 80’s, Worst to First portrays the ultimate David and Goliath story that built the foundation behind the legacy that endures and continues to grow, reaching eight-digit audiences daily, and continuing to influence the face of media and entertainment.
Worst to First was directed, written and produced by Mitchell Stuart and produced by Trish Hunter Shannon, Elvis Duran, David Katz and John McConnell.
The cast includes Scott Shannon, Elvis Duran, Jon Bon Jovi, Nile Rodgers, Clive Davis, Debbie Gibson, Joan Jett, Taylor Dayne, Tony Orlando, Joe Piscopo, “Magic” Matthew Alan, “Professor” Jonathan B. Bell, Frankie Blue, Anita Bonita, Ross Brittain, Pete Cosenza, Michael Ellis, Gavin DeGraw, Cathy Donovan, Gary Fisher, Frank Foti, Sean “Hollywood” Hamilton, David Hinckley, Donnie Ienner, Jim Kerr, Steve Kingston, Ken Lane, Kenny Laguna, Jimi LaLumia, Tom Poleman, Geraldo Rivera, Trish Hunter Shannon, Patty Steele, Claire Stevens, Mitchell Stuart, John Sykes and Jim Wood. “Radio’s Best Friend,” Art Vuolo, contributed video.
The Walt Disney Co. regained momentum in subscription growth for its flagship Disney+ streaming service and reported record income from its theme parks and resorts, signaling that the worst of the damage the company suffered from the coronavirus pandemic may be behind it, reports The Wall Street Journal.
Disney reported 11.8 million new Disney+ subscribers to reach 129.8 million subscribers at the end of the holiday quarter, up from 118.1 million subscribers in the prior quarter, beating analysts’ expectations the service would add fewer than seven million additional subscribers, according to FactSet.
Disney posted $21.82 billion in revenue for the quarter, compared with $16.25 billion a year earlier. Analysts were expecting the company to report revenue of $20.27 billion.
“We are more confident than ever in this platform,” Chief Executive Bob Chapek said of Disney+ in an earnings call with investors.
The results at the world’s largest entertainment company underscore how U.S. consumers are returning in droves to live entertainment venues like theme parks but haven’t completely abandoned the media consumption habits they developed during the pandemic.
Chapek said the recent turnaround in subscription growth is the result of Disney’s focus on creating new content for its most popular franchises, including Star Wars and Marvel, as well as the decision to bundle Disney+ subscriptions with its Hulu and ESPN+ services, which show more general interest TV series and live sports.
He said the company is still on track to reach 230 million to 260 million Disney+ subscribers by the end of fiscal 2024.
Disney executives said the company expects continued growth for Disney+ in the U.S. and internationally and pointed to plans to spend $33 billion on new content this fiscal year as a key driver for new subscriptions. The company broke the investment down into about $22 billion on entertainment and $11 billion on sports and sports rights.
The company added 41 million new international subscribers, excluding Disney+ Hotstar, an increase of 40% from the same period a year earlier.
CNBC reports Disney’s parks, experiences and consumer products division saw revenues reach $7.2 billion during the quarter, double the $3.6 billion it generated in the prior-year quarter. The segment saw operating results jump to $2.5 billion compared to a loss of $100 million in the same period last year.
Disney said the growth in revenue came as more guests attended its theme parks, stayed in its branded hotels and booked cruises.
McCarthy noted that Disney’s domestic parks, particularly its Florida-based locations, have yet to see a significant return in ticket sales from international travelers, which pre-pandemic accounted for 18% to 20% of guests.
President Joe Biden's nominee for a key seat on the FCC faced extensive Republican criticism at a Senate hearing on Wednesday, reports Reuters.
Gigi Sohn, a former senior aide to Tom Wheeler when he was chair of the FCC under President Barack Obama, faced tough questions from Senate Republicans at a second confirmation hearing.
Some Senate Democrats said that some companies and critics want to prevent the telecommunications regulator from acting on key issues. "It is part of an effort to deadlock, disarm and disable the FCC," Democratic Senator Richard Blumenthal said.
More than a year after Biden took office, the FCC remains split 2-2 between Republicans and Democrats -- preventing action on key issues including restoring landmark open internet neutrality regulations repealed under former President Donald Trump.
Biden waited more than nine months to designate FCC Commissioner Jessica Rosenworcel as the agency's permanent chair and to nominate Sohn.
Republicans have questioned Sohn's role as a board member of a nonprofit that operated a transmission service called Locast that was ordered shut down after four broadcast networks filed a copyright infringement lawsuit. A court filing said the networks were awarded $32 million in statutory damages, but Sohn and documents later made public show that the networks agreed to settle for $700,000.
If confirmed, Sohn has voluntarily agreed to recuse herself on some matters involving retransmission consent and TV broadcast copyright.
Sohn said opposition to her nomination is "about stopping the FCC from ensuring that the media is diverse and serves the needs of local communities....A deadlocked agency helps almost nobody, save for a few huge corporations. But most importantly, it hurts the American people who need the FCC to make hard decisions."
The Senate committee is divided 14-14 between Republicans and Democrats. Democratic U.S. Senator Ben Ray Lujan was recently hospitalized after suffering a stroke and is expected to make a full recovery.
Comedian and actor Bob Saget, who was found dead in an Orlando, Florida, hotel room last month at age 65, died from head trauma after accidentally hitting his head, his family said on Wednesday.
Saget, best known as the jovial dad on the television sitcom "Full House," most likely hit the back of his head and "thought nothing of it and went to sleep," his family said in a statement to Reuters. No drugs or alcohol were involved.
"As we continue to mourn together, we ask everyone to remember the love and laughter that Bob brought to this world, and the lessons he taught us all," the family added.
These included being kind to everyone, letting the people you love know you love them, and facing difficult times with hugs and laughter, they said.
Emergency responders found the actor unresponsive on Jan. 9 in a room at the Ritz-Carlton in Orlando and pronounced him dead at the scene, the Orange County sheriff's office said at the time.
Saget had just started a comedy tour and performed near the city of Jacksonville the night before. In his last Instagram post, he reflected on the "really nice audience" and "lots of positivity."
The actor also hosted "America's Funniest Home Videos" from 1989 to 1997.
The New York Sun, the storied daily newspaper that’s been relatively dormant for more than a decade, plans to relaunch as an online publication Feb. 22, according to a press release seen by Bloomberg News.
Bloomberg reports Dovid Efune, the former editor of the Jewish news publication the Algemeiner, who bought the Sun in a cash and stock deal, will serve as publisher. He confirmed the launch date in an email. Seth Lipsky, who helped revive the newspaper in 2002 and ran its print publication until it folded in 2008, will be editor in chief.
The staff will be led by the newspaper’s former deputy managing editor, John Seeley, who after the Sun’s run went on to work at the Wall Street Journal and Newsweek, and editor John Bennett, an aide to Lipsky, according to the press release. “It's no secret that trust in the press has ebbed to historic lows,” Efune said in the email. “We look forward to reintroducing the paper that ‘shines for all’ and, in doing so, helping bridge the gaping divide between newspapers, writ large, and the public they serve.”
The Sun was originally founded in 1833 as a daily newspaper, publishing notable works such as the editorial “Yes, Virginia, There is a Santa Claus” and a Pulitzer Prize-winning expose on labor racketeering. The paper was sold in 1950 and folded into another publication before its relaunch more than a half century later. Since the broadsheet ended publication in 2008, the Sun has published editorials and op-eds on its website.
The Sun was known for its punchy — and sometimes biting — political reporting and commentary, as well as cultural coverage. It will enter a saturated media landscape in New York, with revived publications like the Village Voice and newer outlets like New York Focus jockeying for readership.
Some former readers say the relaunch is a welcome addition for the city. “It will fill a real need,” said Mitchell Moss, an urban planning and policy professor at New York University. In his view, existing outlets don’t quite do the trick.
The government won’t stand in the way of the planned merger between WarnerMedia and Discovery. The $43-billion deal will create a massive media titan that could result in major fallout for streaming consumers, according to The Streamable.
What Happens Next?
Barring any unexpected setbacks, the deal will close in Q2. Discovery CEO David Zaslav becomes one of the most powerful men in Hollywood, since he’ll oversee all the media assets of both companies. Whatever happens with the Warner Bros. movie studio, HBO Max, CNN, TNT, TBS, and DC Comics will be his responsibility. Of course, Zaslav will still oversee the Discovery portfolio, including discovery+, Animal Planet, HGTV, OWN, TLC, and Travel Channel.
More than likely, this spells the end for HBO CEO Jason Kilar, who burned several bridges by releasing all the Warner Bros. theatrical films on HBO Max the same day in 2021. He angered the creative community, but the decision was an absolute business success, sending subscription rates rising throughout the year. The service closed out 2021 with an impressive 73.8 million subscribers worldwide.
AT&T stockholders as a group will end up owning 71% of the new company.
What Does This Mean for Streaming?
It seems inevitable that we are going to see some kind of bundle package along the lines of Disney. An HBO Max-CNN+-discovery+ combo seems likely. It’s unclear if that bundle would be able to include streaming rights for NBA & NHL games on TNT or baseball on TBS.
A 3-service package would seem to offer something for the whole family, from news to light entertainment to prestige dramas and blockbuster films. The company would likely price aggressively to undercut Disney’s bundle and supercharge growth.
The future success of each of these streaming services will depend on Zaslav’s ability to evaluate and support leadership talent. CNN+ just lost its captain with the resignation of Jeff Zucker, but its expected slate of new shows looks like an exact copy of linear CNN, so the value isn’t there yet. A new CNN chief will need to find the right balance to make the streamer a success, but the cupboard looks empty for now.
On Tuesday, Joe Rogan told an audience in Austin, Texas, that he would not be accepting video-streaming service Rumble’s $100 million offer to move his popular show over from Spotify.
“During a question and answer portion with fans after the show, Rogan was asked if he would accept the $100 million offer from Rumble to move his show from Spotify to the right-wing platform,” The Hollywood Reporter noted. “The comedian said he was planning to stick with the streamer.”
“No, Spotify has hung in with me, inexplicably, let’s see what happens,” Rogan said.
On Monday, YouTube competitor Rumble released a statement in support of Joe Rogan, appearing to offer the podcast host $100 million for a four-year deal.
As Variety explained, “Rogan has faced a storm of criticism and a backlash from Spotify users and artists in recent weeks, traveling along two different vectors: His repeated use of the N-word in past episodes of his podcast, and accusations that Rogan’s show has served as a platform for COVID misinformation.”
Spotify CEO Daniel Ek released a statement on Sunday, announcing that the streaming service would stand by the podcast host.
Two months after Dotdash acquired venerable Des Moines magazine publisher Meredith Corp., the shakeup is beginning, reports The Des Moines Register.
Dotdash Meredith CEO Neil Vogel told employees Wednesday morning that the company will end the print editions of six of the former company’s magazines: EatingWell, Entertainment Weekly, Health, InStyle, Parents and People en Español.
The move, which resulted in 200 layoffs, is the first of the changes Vogel promised after his company, New York-based digital publisher Dotdash, bought Meredith for $2.7 billion. When the companies announced the merger in October, Vogel explained that the new business would blend Dotdash's approach, geared to online searches, with legacy Meredith's decades-old household names, such as Better Homes and Gardens.
"Buying Meredith was about buying brands, not magazines or websites," Vogel wrote in his email to employees. "It is not news to anyone that there has been a pronounced shift in readership and advertising from print to digital, and as a result, for a few important brands, print is no longer serving the brand's core purpose."
Company spokesperson Erica Jensen told the Des Moines Register in an email that most job cuts occurred in the company's New York offices. She said Dotdash Meredith laid off "roughly 3% of our local Des Moines workforce." With about 870 employees in Des Moines as of November, the cuts would equate to about 26 local jobs.
"These employees have helped create some of the best media brands in the world," Jensen said. "We thank them for their years of dedication and are committed to helping them make a smooth transition. Dotdash Meredith remains committed to and invested in the Des Moines community as well as the City as a key operational hub as we continue to grow."
Earnings per share: 33 cents, adjusted vs 35 cents expected, according to a Refinitiv survey
Revenue: $1.57 billion vs $1.58 billion expected, according to Refinitv
Monetizable Daily Active Users (mDAUs): 217 million vs 218.6 million expected
The company provided revenue guidance for the next quarter ranging from $1.17 billion to $1.27 billion, while analysts had expected about $1.26 billion, according to Refinitv.
Twitter also announced a new $4 billion share buyback program. Half of that will be an accelerated share repurchase with the remaining being repurchased over time, the company said.
Despite the miss in user growth numbers, CFO Ned Segal said in a statement in the earnings release that its previously stated goals of reaching 315 million mDAUs in Q4 2023 and at least $7.5 billion in revenue in 2023 remained the same.
The report is the first under new CEO Parag Agrawal after Jack Dorsey stepped down from the role in November. Agrawal, who previously served as chief technology officer, had been a key player in the company’s efforts to create a decentralized protocol for social media through Project Bluesky.
Agrawal has inherited Dorsey’s aggressive internal goals, including to grow Twitter to 315 million monetizable daily active users by the end of 2023.
Twitter said the impact of Apple’s changes on the company’s revenue remained modest for it as well.
Some 85% of Twitter’s ad revenue comes from brand ads, which are less affected by Apple’s changes than direct-response ads, Twitter's Segal said in an interview. These changes present Twitter with an opportunity rather than a risk, Segal said. “There’s so much room in front of us,” he said.
