CMO Stints Shorten; HBO Max Launches

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A Short Stint

The average tenure of CMOs in the United States dropped again in 2019, to 41 months from about 43 months in 2018. That’s the lowest number on record since 2009, according to a report from executive search firm Spencer Stuart. The median CMO tenure rose to 30 months from about 28 months in 2018. CMOs tend to have much shorter tenures than CEOs, who averaged 76 months on the job last year and had a median tenure of 53 months. That’s partly because it’s difficult for marketers to prove the effectiveness of their work, and CMOs often aren’t included in broader conversations about company strategy, writes The Wall Street Journal. That situation is being exacerbated by COVID-19, as CMOs are forced to work with smaller marketing teams after layoffs.

Not Maxed Out Yet

AT&T’s WarnerMedia launched HBO Max on Wednesday, bringing together HBO with other media properties such as Turner Networks and Warner Studios. At $15 per month, it’s the most expensive option on the market, not counting Amazon Prime (Netflix follows behind at $13 per month). But there is an ad-supported model in the works for early next year. “We believe the long-term dynamics will be both subscription and advertising supported. If you think about what consumers like, they like choice,” incoming AT&T CEO John Stankey tells CNBC. “You don’t necessarily mind ads, if they’re executed well and they’re relevant.”

Daq To The Future

Rubicon Project, fresh off its merger with Telaria, announced that it will delist from the New York Stock Exchange and switch to the Nasdaq. Here’s the SEC filing. The transition has already been approved and will happen at the end of trading on June 8, in time to continue selling as RUBI on the Nasdaq the next morning. The Nasdaq is considered a more volatile, high-growth market, with more tech and information companies. (Also, the cost to list on the Nasdaq is about $25,000, and on the NYSE it’s hundreds of thousands of dollars.) The Trade Desk and Criteo are also on the Nasdaq. Investors like the move, at least, considering Rubicon shares jumped more than 20% on Tuesday and gained another 5% on Wednesday.

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