Did Rupert Murdoch wait way too long to fix MySpace? It’s easy to get that impression from the News Corp. earnings call today.
The takeaway: The site is losing traffic and money and is going to get at least $100 million less from Google than it once thought. “It’s a work in progress,” News Corp. says, over and over again.
Yesterday, Viacom told Wall Street that its third quarter had been better than most analysts expected. Today Time Warner delivered a similar report: Revenue was on track, but cost savings improved the bottom line. That won’t help hundreds of Time Inc. employees who face job cuts this quarter. Meanwhile, the company can’t ditch AOL soon enough: It has already spent $100 million prepping it for a spinoff this year.
Here’s another quick glimpse of the advertising market, courtesy of Viacom. The cable giant says ad sales are still down, but that the rate of decline is slowing. And in the fall of 2009, that constitutes pretty good news.
So now that the economy is officially growing again, when will marketers start spending again? It can’t happen soon enough for ad-supported companies (and their employees). Today’s unpleasant news: Magazine heavyweight Meredith says things are getting better, but they’re still worse than last year, which was pretty bad to begin with.
The man who helped shape CBS’s standalone Web video strategy explains himself, for the record.
Microsoft bought ad exchange company AdECN more than two years ago. And unless you’ve been paying very close attention, that’s the last you ever heard of it.
This should finally change next year. People familiar with Microsoft’s plans say the company intends to open the exchange for business in January, which will allow online ad buyers and sellers to match up in real time. That will put it several months behind Google, which opened up its ad exchange in September.
The publisher delivered a pleasant earnings surprise yesterday by cutting costs. Now it’s hoping for a revenue bump, if advertisers will play along.
The New York Times announced plans to cut eight percent of its newsroom payroll this week, citing “economic thunderstorms,” which suggested that this morning’s earnings results were going to be particularly unpleasant. Surprise! They’re not that awful, at least by the diminished standards of the newspaper industry.
Google CEO Eric Schmidt couldn’t be any clearer: He’s been saying, over and over, that he thinks the recession is in his company’s rear-view mirror. And Wall Street has been listening: It has been steadily pushing up the search giant’s shares for months. Today we get to find out just how good Google’s growth story is.
Last month, the New York Times was attacked by hackers who bought fake Web ads from the publisher. And one of the world’s biggest ad companies says that won’t be the last assault. But the solution runs counter to industry trends.
I’ve been reporting a steady drip of cautiously optimistic forecasts for the ad business, but this one is less sunny: A JP Morgan survey of ad buyers says they’re unlikely to boost spending until next year.
Warner Music and YouTube, co-owners of the one of the Web’s nastiest spats, are about to patch things up. How’d they do it? By cutting a deal that looks a lot like the one YouTube has already made with Universal Music Group.
Don’t say they didn’t warn you: Last week, Yahoo formally rolled out its new $100 million-plus marketing campaign. Today, the TV ads begin. Here’s what you’ll be getting if you watch AMC, ESPN, USA, Comedy Central, Bravo or any of the broadcast networks in the U.S.
It took Apple a year to move its first 1.5 billion apps from its iTunes store. It took a mere 76 days to move the next 500 million.
Web advertisers are trying hard to create ads you can’t look away from. But they can get a little too disruptive.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider.
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
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