Media
MoffetNathanson downgrades Paramount, citing lower ad spend ahead of potential recession
MoffetNathanson on Friday downgraded shares of Paramount Global to underperform and slashed its price target to $18 per share from $30, citing growing risk of lower advertising spend going forward. “Despite the continued momentum at Paramount+, we downgrade PARA as the growing risk of lower advertising puts additional pressure on the company’s ability to grow […]
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Minecraft creator rejects NFTs, citing a lack of inclusivity
Minecraft is the best-selling game of all time, with lifetime sales of more than 238 million units. Igor Golovniov | Sopa Images | Lightrocket | Getty Images Mojang, the developer behind Minecraft, is not a fan of nonfungible tokens. The Microsoft-owned company said Wednesday that it won’t support NFTs in Minecraft because they’re “not inclusive […]
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For Netflix stock, it’s no longer subscribers or content. It’s all about the cash
A sign is posted in front of Netflix headquarters on April 20, 2022 in Los Gatos, California. Justin Sullivan | Getty Images A day after Netflix reported that its second-quarter slide in subscribers was much smaller than investors had feared, a different takeaway may sink in from the earnings report at the world’s largest streaming […]
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Netflix’s earnings results mark pivot point for streaming giant, for better or worse
Co-founder and CEO of Netflix Reed Hastings attends a red carpet for the Netflix launch at Palazzo Del Ghiaccio on October 22, 2015 in Milan, Italy. Jacopo Raule | Getty Images Netflix’s second-quarter earnings results can be interpreted in two very different ways. The company’s future depends on which reading turns out to be correct. […]
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FaZe Clan goes public in $725 million SPAC, a market bet on Gen Z and the creator economy
Digital entertainment and esports brand FaZe Clan is being listed on the Nasdaq Wednesday after completing a SPAC merger in a deal valued at $725 million, a big step for creator economy companies to be publicly traded. FaZe Clan is an online media company made up of 93 members, consisting primarily of esports competitors and […]
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Netflix earnings deemed good enough by investors as shares jump after hours
(L-R) Reed Hastings and Ted Sarandos attend the “Marseille” Netflix TV Serie World Premiere At Palais Du Pharo In Marseille, on May 4, 2016 in Marseille, France. Stephane Cardinale | Corbis | Getty Images Good enough. Netflix didn’t blow the roof off its second-quarter earnings. It announced it lost about 1 million global subscribers in […]
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Netflix only loses 970,000 subscribers in second quarter after warning of loss of 2 million
Fans gather at the Netflix booth at a trade show. Mike Blake | Reuters Netflix shares jumped 8% after the company said it lost fewer subscribers than anticipated during the second quarter. The company also said it aimed to unveil its lower-cost, ad-supported tier in early 2023. This comes on the heels of Netflix tapping […]
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Pulitzer board rejects Trump’s calls to revoke prizes for reporting on Russian election meddling
From left, Washington Post Publisher Fred Ryan, Executive Editor Marty Baron, and National Security Editor Peter Finn, applaud as investigative reporter Tom Hamburger speaks to the newsroom after The Washington Post wins two pulitzer prizes, Monday, April 16, 2018, in Washington. Andrew Harnik | AP The Pulitzer Prize Board on Monday rejected former President Donald […]
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How 99-year-old publisher Time is leading legacy media into the NFT future
Time magazine covers Eric Baradat | AFP | Getty Images NFTs, or non-fungible tokens, have become, perhaps, the most controversial piece of the crypto conversation, evoking both passionate criticism and praise as Web3 becomes a bigger part of popular culture. Able to shut out the noise on both sides of the argument is an unlikely […]
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Hollywood finally comes calling for horror writer Paul Tremblay
Paul Tremblay Source: Paul Tremblay Want to hear a scary story? It was 2015. Paul Tremblay, a New England math wiz with a couple crime novels to his name, was experiencing his big breakthrough in horror fiction. His book, “A Head Full of Ghosts,” an internet-era spin on the demonic possession genre, arrived in June […]
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