Good Media Morning to you. Time Inc installed a new senior digital director for its lifestyle brands who is eager to help the media company get its digital footing. Snap Inc‘s projected 2017 revenue cut by $128 million. But it still leads Instagram with 13-24 year olds. Gawker.com is being shopped. Could the controversial website make a real comeback or will it morph into something completely different? Amazon and Twitter is more convincing than Disney and Twitter. These and much more for your Media Morning Today. Dive in!
AMAZON AND TWITTER?
Twitter hasn’t been living up to expectations for a few years now. User growth has been slow, there is little to no profits and there has been some turnover in the executive suite. But all those things are normal at any company. Every company hits a dead streak at some point and for Twitter, Recode’s Kurt Wagner makes the case for why Amazon would be the night in shining armor that Twitter needs.
WHO WILL BUY GAWKER.COM AND CAN IT MAKE A REAL COMEBACK?
A year after Univision bought the sister websites of the snarky gossip blog for $135 million, the bankruptcy estate is quietly shopping Gawker.com around to potential buyers. William Holden, managing partner at Dacarba, said he expects a floor bid in the next six to eight weeks. There’s no asking price for the site, but one expert said it could fetch between $5 million to $10 million.
SNAPCHAT’S PROJECTED 2017 REVENUE CUT BY $128 MILLION
Snapchat parent Snap Inc. is expected to make $127.5 million less ad revenue this year than previously forecasted, eMarketer said on Monday. The advertising research firm lowered its 2017 US ad revenue forecast for Snap from $770 million to $642.5 million, citing that Snapchat still “remains in the experimental bucket for many marketers.”
CONDE NAST IS ATTEMPTING TO POSITION ITS NEWLY EXPANDED 23 STORIES AS A STANDALONE AGENCY
The branded content arm of the company debuted in January 2015 as a one-stop shop to develop campaigns and distribute them throughout Condé Nast publications. Now more than 100 employees, 23 Stories is expanding its services to include event production, talent casting and consulting — and moving beyond service tied to Condé brands.
WALL STREET CHEERING DISNEY’S ESPN AFTER ALTICE DEAL
After a long run of negative headlines, ESPN drew cheers from Wall Street with a tentative contract agreement between corporate owner Disney and Altice, which provides cable service to 3 million homes in New York City suburbs. Altice will pay more to carry ESPN and other Disney networks.
SNAPCHAT’S REACH WITH 13-24 YEAR OLDS GREATER THAN INSTAGRAM’S
Snap shares have fallen 12% since their March IPO because investors haven’t liked recent numbers. But what if investors are focused on the wrong thing. Shares of the social-media company are up 2.3% following a Stifel report saying that Snap is neck-and-neck with Facebook in terms of audience reach with the 13-24 demographic in numerous key ad markets.
APPLE NEWS ALLOWING PUBLISHERS TO SERVE ADS FROM GOOGLE’S DOUBLECLICK
A select group of publishers are testing ad insertions into their Apple News pages using DoubleClick For Publishers, according to a number of publishing executives familiar with the trial. Publishers like Condé Nast, Gannett, Time Inc., CNN and other media partners have been in talks with Apple for months about changing the technology behind the ads in the popular news app.
SNAPCHAT’S BIG BUILD UP TO AN ANNOUNCEMENT FAILED
Snapchat mistakenly revealed a partnership with the legendary artist Jeff Koons, bungling what appeared to be an attempt to create suspense and anticipation ahead of a big announcement on Tuesday. The new feature appears to involve digital images of Jeff Koons iconic artwork, such as the balloon dog, which Snapchat users will be able to overlay onto the real world through the app’s camera.
DISNEY BOSS MOURNS EMPLOYEE KILLED IN VEGAS TERROR ATRACK
Names and faces of the 59 people who were killed in the tragic Las Vegas shooting are beginning to be released, one of them being Carrie Barnette, a cast member that worked at the Disney California Adventure in Anaheim. In addition, Jessica Milam, also a Disney cast member, was injured during the shooting.
FORMER DREAMWORKS ANIMATION BOSS JEFF KATZENBERG LOOKING TO RAISE $2 BILLION FOR TV PROJECT
Jeffrey Katzenberg, the longtime Hollywood executive and co-founder of DreamWorks Animation, is trying to raise $2 billion for his new television start-up. That is likely to be the largest first round of financing in history for a digital media company that, at least at the moment, is only a concept in his head.
ROLLING STONE ATTACKED BY TOM PETTY’S DAUGHTER
Tom Petty’s daughter AnnaKim Violette slammed Rolling Stone on Instagram for misreporting her father’s death on Monday. “How dare you report that my father has died just to get press because your articles and photos are so dated,” Petty’s daughter wrote.
CONDE NAST’S FOOD INNOVATION GROUP’S CHIEF BUSINESS OFFICER TALKS SHOP
He discussed how legacy media publishers can provide clients with access to its network of influencers to beef up its content-marketing offering and mitigate the challenges of the print market by growing its emerging businesses.