Disney has announced that network veteran Russell Wolff will be the executive vice president and general manager of ESPN+, the direct-to-consumer service that launched in April 2018.
Why it matters: Last month, ESPN announced that ESPN+ had surpassed 1 million subscriptions, the majority of which were not pre-existing "ESPN Insider subscribers." Wolff will be responsible for managing ESPN+, and he will help the overall management and commercialization of ESPN-branded digital products.
Simulmedia, one of the oldest TV advertising tech companies, has created a digital marketplace that will help small companies buy TV ads digitally at scale.
Why it matters: For new direct-to-consumer companies (think Dollar Shave Club or Away that launched online), TV marketing can be very expensive and hard to measure. This will bring down that barrier to entry by allowing brands to buy TV ads at a small scale, for less money, in a way that can be measured and tracked through digital ad tech.
Vice News got Facebook to approve its purchases of ads under the names of all 100 U.S. senators, including Senate Minority Leader Chuck Schumer (D-NY) and Senate Majority Leader Mitch McConnell (R-KY), per a new report.
Why it matters: Facebook's efforts at transparency in political advertising won't be effective if the platform does not verify the information users provide.
LOS ANGELES — Live from the University of California, Los Angeles, Axios Business Editor Dan Primack hosts a conversation with WndrCo managing partner and Quibi founder and chairman Jeffrey Katzenberg, Quibi CEO Meg Whitman and CEO of JPMorgan Chase Jamie Dimon.
AT&T is wasting no time building its big Netflix competitor, which it hopes will be the anchor of its media business, WarnerMedia (formerly Time Warner).
Why it matters: Executives believe that a Netflix-like subscription video platform, that includes evergreen content in a library of franchise-driven titles, will be the driver of WarnerMedia’s success as WarnerMedia is now one of the four core pillars of AT&T’s business.
Tragic events ahead of the midterms are causing a contentious media blame game over who is responsible for the increasing radicalization of American citizens.
Why it matters: The media infighting is itself the byproduct of a nation that's become radicalized by a collision of geopolitical events over years, and it's being compounded by an economic crisis around news, where the most profitable information online and on TV is often the most inflammatory.
The stock market isn't applauding solid corporate earnings, but that's not new this quarter — it's been happening for the past year.
Why it matters: Fears of a downturn have increased, with investors worried about slowing global growth, the tax cut "sugar high" wearing off, and ongoing trade disputes.
Data: BlackRock Investment Institute; Chart: Andrew Witherspoon/Axios. Note: MSCI Earnings Growth Rate Index shows 12-month forward earnings estimates for the MSCI Index.
The Athletic, a subscription-based digital sports media company, raised $40 million in a series C funding round. With this investment, the company has raised a total of $70 million since its launch in 2016 and is valued at roughly $200 million, according to sources familiar with the deal.
Why it matters: The company, which makes money from consumer subscriptions, thinks it can meet high growth expectations from venture capitalists, many of whom are facing poor returns on investments in ad-based digital media companies.
