More from Alex Weprin
Meta Warns That Mark Zuckerberg’s Love of MMA Could Hit Its Bottom Line
Meta is officially warning investors: CEO Mark Zuckerberg’s love of mixed martial arts poses a risk to its business. Zuckerberg, as many people know by now, has become a big MMA fan, posting photos training ith UFC fighters, and even participating in some local matches. He also underwent knee surgery last year after injuring his […]
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Apple CEO Tim Cook and NBA Commissioner Adam Silver Talk Vision Pro: “This Changes Everything”
Tim Cook wanted to know more about the stats. The Apple CEO was huddled over an iMac in the NBA’s league headquarters in New York alongside NBA commissioner Adam Silver, flanked by a wall of regulation basketballs. On the white table in front of them was the computer, and a piece of hardware that Cook […]
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Snap to Slash Workforce by 10 Percent Amid Tech Layoff Spree
Another day, another round of tech layoffs. Snapchat owner Snap on Monday said that it would be slashing its global workforce by 10 percent. The company disclosed the news in a securities filing, writing that “in order to best position our business to execute on our highest priorities, and to ensure we have the capacity […]
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Sphere Entertainment Posts Revenue of $314M in First Full Quarter as a Public Company
The Sphere is finally bringing in serious cash. Sphere Entertainment Corp., the parent company of the already-infamous Las Vegas attraction, as well as the MSG Networks RSN business, reported its first full quarterly earnings report Monday, its fiscal 2024 Q2. The company reported earnings of $314.2 million, with Sphere $167.8 million) overtaking MSG Networks ($146.4 […]
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Amazon 2023 Content Spend Rises to $18.9B, Despite Hollywood Strikes
As Amazon leans into content through Prime Video, MGM, Freevee and live sports, the company said that its 2023 content spend totaled $18.9 billion. Amazon spent $16.6 billion on content in 2022, “approximately $7 billion” of which was spent on “Amazon originals, live sports and licensed third- party video content included with Prime.” The company […]
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Disney’s Activist Investor Showdown Set for April 3 Shareholder Meeting
The Walt Disney Co.’s board battle with Nelson Peltz and his Trian Partners now has an end date: April 3, 2024. That’s the day that Disney has scheduled its annual shareholder meeting, in which Peltz’s Trian and another activist Blackwells Capital have submitted their own names to join Disney’s board. Trian is targeting Disney directors […]
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Amazon Advertising Revenue Hits $14.6B in Latest Quarter as Tech Giant Leans Into Ad Deals
As Amazon leans further into advertising via its Prime Video service (ads were turned on there earlier this week), the tech giant’s overall ad business hit $14.6 billion in Q4 2023, the company said in its latest earnings report. Amazon overall had net sales of $170 billion, and net income of $10.6 billion, both beating […]
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‘Funny You Should Ask’ Host Jon Kelley Reups With Allen Media Group
Byron Allen’s Allen Media Group has cut a new overall deal with Jon Kelley, the host of the syndicated game show Funny You Should Ask. In addition to the game show, Kelley does color commentary on AMG’s HBCU sports coverage, and hosts some entertainment and lifestyle programming produced by AMG. Under the terms of the […]
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YouTube Passes 100M Subscribers for Music and Premium Services
YouTube has quietly become a giant subscription business. The Alphabet-owned video platform said Thursday that it now has more than 100 million subscribers to YouTube Music and YouTube Premium services. The 100 million number includes trial subscribers, and is of Jan. 2024, per a company post. “The music industry is at a critical juncture,” wrote […]
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Disney Activist Investor Reveals Which Board Members He’s Targeting to Oust
Nelson Peltz’s battle to join the Disney board has crossed another crucial step. Peltz’s Trian Partners on Wednesday released its preliminary proxy statement, in which it said it would ask shareholders to withhold their votes for current Disney board members Michael B.G. Froman and Maria Elena Lagomasino, and instead vote for Peltz and former Disney […]
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Paramount Hopes the Super Bowl Can Power Up Its Streaming Business
The state of the streaming business can be summed up in the very beginning of the new Super Bowl commercial for Paramount+: “On Paramount Mountain, the stakes get higher.” With the streaming business at a tipping point, as Netflix pulls ahead of the pack and everyone else is scrambling to turn a profit, Paramount Global […]
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Lionel Messi Meets ‘Ted Lasso’s’ Jason Sudeikis In Michelob Ultra Super Bowl Ad
In a Super Bowl spot that brings together the two biggest football stars in Miami history (and the star of the biggest “football” show on streaming), Michelob Ultra is betting that it will stand out in a crowded commercial, er, pitch. The Anheuser-Busch brand has tapped Inter Miami superstar Lionel Messi, Miami Dolphins legend Dan […]
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