May 9, 2018

FX lands rights for new NYT weekly TV series

Photo: Gary Hershorn/Getty Images

The New York Times has awarded FX the rights to its new weekly TV series, The Weekly, based in part off of the success from The Times' hit podcast, The Daily.

Why it matters: It's the New York Times' first foray into television and FX's first foray into news.

About the show: The show will be a "narrative documentary news program," according to a statement, that includes one or two of The Times’s biggest and most important visual stories each week. 

"The Weekly will find the stories behind the headlines that would otherwise be left on the cutting room floor."

The deal:

  • The series is scheduled to premiere later this year.
  • FX has committed to a minimum of 30 episodes.
  • It will be produced by both NYT and virtual design studio Left/Right Studios.

The streaming plans: FX offered exclusive SVOD streaming rights to Hulu to air new episodes of the series the day after they first appear. FX also has streaming rights through its VOD services: FXNOW (with commercials) and FX+ (commercial-free) to authenticated subscribers.

The bigger picture: With the majority of Americans consuming video still via linear TV, it makes sense that digital and print-based publishers would want to expand their branding and revenue opportunities to the big screen.

Go deeper

HBCUs are missing from the discussion on venture capital's diversity

Illustration: Eniola Odetunde/Axios

Venture capital is beginning a belated conversation about its dearth of black investors and support of black founders, but hasn't yet turned its attention to the trivial participation of historically black colleges and universities (HBCUs) as limited partners in funds.

Why it matters: This increases educational and economic inequality, as the vast majority of VC profits go to limited partners.

Unemployment rate falls to 13.3% in May

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. unemployment rate fell to 13.3% in May, with 2.5 million jobs gained, the government said on Friday.

Why it matters: The far better-than-expected numbers show a surprising improvement in the job market, which has been devastated by the coronavirus pandemic.

The difficulty of calculating the real unemployment rate

Data: U.S. Department of Labor; Note: Initial traditional state claims from the weeks of May 23 and 30, continuing traditional claims from May 23. Initial PUA claims from May 16, 23, and 30, continuing PUA and other programs from May 16; Chart: Andrew Witherspoon/Axios

The shocking May jobs report — with a decline in the unemployment rate to 13.3% and more than 2 million jobs added — destroyed expectations of a much worse economic picture.

Why it matters: Traditional economic reports have failed to keep up with the devastation of the coronavirus pandemic and have made it nearly impossible for researchers to determine the state of the U.S. labor market or the economy.