You already know this, but it’s always good to be reminded: In online video, there’s YouTube, and then there’s everybody else. Today’s data point: ComScore’s August video report, which shows Google’s video site generating 10 billion views and owning 39.6 percent of the market. That’s 10 billion views, and that’s just counting Web surfers from the U.S. Factor in international visitors and…it would be a lot bigger.
Even though analysts had moved their News Corp. estimates down at the company’s urging, the media conglomerate still underperformed the consensus and is writing off $8.4 billion. Rupert Murdoch: “Our results for the quarter are a direct reflection of the grim economic climate. While we anticipated a weakening, the downturn is more severe and likely longer lasting than previously thought.” But investors are taking the results in stride, and News Corp. shares are trading up.
Rupert Murdoch, who has been dour about the economy since last spring, now says things are worse than he thought. Three months ago, the News Corp. CEO was predicting operating profits to increase four percent to six percent by the middle of next year; yesterday the company said it now expects a decline in the low-to-mid teens. And yes, the company is seeing “softness” in advertising at MySpace and its other Web sites.
MySpace pushes a pretend candidate to New York publishers and ad agencies. But the company’s real results come a day after election day: On Wednesday, parent company News Corp. will have to tell investors how the giant Web site’s ad sales are performing.
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. Read more »
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