Here’s today’s AdExchanger.com news round-up… Want it by email? Sign up here.
No News Is Good News?
Troy Young, who writes about the media business in a newsletter called People vs. Algorithms, recently published a frank interview with Dotdash Meredith CEO Neil Vogel.
For one, Vogel acknowledged that Dotdash was “late to TikTok” and “absolutely missed YouTube completely.” Although – pat on the back – he says Dotdash “crushed” Instagram.
Vogel also shares that Dotdash Meredith learned the hard way about how to craft content for different platforms. What works on Pinterest won’t necessarily work on Apple News or in a magazine or on an O&O site.
Initially, news publishers weren’t familiar or comfortable fitting their look and content into someone else’s media. “We learned so much about brands, which we sucked at,” Vogel says.
So, is there hope for journalism? Vogel’s answer is rather blasé on the topic of whether it’s possible to run a sustainable media business today.
“Maybe we’re wrong and maybe in the long term, this isn’t a business,” according to Vogel. “But I would bet on brands, real quality scale [and] real product people who care about delivering a really valuable audience for people who need it.”
We dig Vogel’s honesty – but that’s not a bet a Vegas bookie would take.
Sunrise, Sunset
Freevee, we hardly knew ye.
Anonymous sources tell Adweek that Freevee, Amazon’s free ad-supported service “is not long for this world.”
Amazon, however, begs to differ. But let’s spin this out anyway.
Freevee (née IMDb TV) was an entry point into ad-supported streaming for Amazon, but the incentives are wrong since Amazon now wants to push those viewers to the newly launched ad-supported Prime Video.
According to Adweek’s sources, Freevee could become just another tier within the broader Prime Video offering. Freevee would be free, ad-supported and not require a Prime subscription, whereas AVOD and ad-free Prime Video both do.
Regardless of Amazon’s denial, it’s hard to justify keeping Freevee, especially given Amazon’s recent cost-cutting spree. The company laid off hundreds of employees at Prime Video, Freevee and Twitch last month.
Also, Amazon has been trying to entice Freevee viewers to Prime Video since last summer, and it’s been reassigning staff to Prime Video’s ads infrastructure.
Wonder what that Vegas bookie would say about Freevee’s future?
Get Off My Turf
A new joint venture between Disney, Fox and Warner Bros. Discovery to create a sports streaming service doesn’t yet have an official name, launch date or price point.
But that’s not stopping sports streaming service Fubo from suing the JV, CNBC reports.
The broadcasters formed their joint venture earlier this month to consolidate their sports airing rights.
Fubo’s ire is understandable. It lives and breathes almost entirely on sports-related streaming revenue.
According to the lawsuit, because Disney, Fox and WBD represent 55% of US sports broadcasts (per Citi analysts), joining forces is an anticompetitive move.
“This sports cartel has blocked our playbook for many years, and now they are effectively stealing it for themselves,” David Gandler, Fubo co-founder and CEO, declared in a statement.
Sports are considered the last true tentpole upholding linear TV subscription prices and ad sales, so the whole category is in the spotlight right now – and big players are testing antitrust limits. Amazon, for instance, is seeking to acquire regional sports networks that are home to half of all MLB, NHL and NBA teams.
Usually, the phrase goes, “Don’t hate the player, hate the game” – although a judge may say otherwise.
But Wait, There’s More!
Why Hollywood should be terrified of YouTube, not Netflix. [Business Insider]
BuzzFeed sells Complex for $108 million and announces 16% layoffs. [Axios]
Atlas Obscura is seeking $10 million in funding during a tough time for small, independent media publishers. [Digiday]
Pinterest targets advertisers with a new ad campaign. [Ad Age]
Google has released Gemma, an open-source AI model built using the same technology as its Gemini large language model. [Bloomberg]
Instacart’s AI recipes look literally impossible. [404 Media]
You’re Hired!
Braze announces a raft of new promotions and hires, including former Okta exec Kelsey Nelson as VP of product marketing. [release]
