Mather Report with David Clinch
David Clinch
#MediaRevenue Consultant at MGP. VP Partnerships - Mather Economics. #MediaRevenue
Happy Friday and welcome back to our?weekly?review of important?#MediaRevenue?stories after a break last week for Thanksgiving.
Many of the stories on the media revenue beat this week include some significant job cuts that portend major changes coming to the news industry next year.
There are signs that the subscriptions side of the news business remains the revenue strategy most likely to create long term growth.
If your news organization has not already put in place a strong and sustainable revenue strategy, this is the time to think about what blend of subscriptions, membership, advertising and other revenue streams that you will need in 2023. Our teams at Mather can help, so get in touch with?Peter Doucette?Liesbeth Nizet?and Mather (Matt) Lindsay?to arrange a meeting.
Please keep the people who have lost their jobs in media and social media in recent weeks in mind. If you have open roles for journalists or news partnerships staff, I'm always happy to make connections for those who need any help.
I hope this curated list of stories is useful to you. Please tell your friends in the industry to sign up for this newsletter.
Always?let me know on Twitter?if you spot any?#MediaRevenue?stories I may have missed. If you have any questions or comments about these updates,?please get in touch.?
Here is this week's curated selection of?#MediaRevenue?news:
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"CNN is laying off hundreds of employees in a cost-cutting effort that illuminates the financial challenges facing a wide array of media companies as the economy teeters toward a possible recession. Other television networks are planning cost-cutting measures over the winter. NBCUniversal, the parent company of NBC News and MSNBC, will lay off employees in January...ABC News parent company Disney is similarly planning cuts under the leadership of?Bob Iger."
"The largest newspaper chain is cutting roughly 6 percent of its 3,440-person U.S. media division."
"CNBC has two subscription offerings. Launched in January, Investing Club provides subscribers with access to CNBC host Jim Cramer’s market analysis and research, his charitable trust portfolio, as well as trade alerts and monthly live meetings, for $400 a year. CNBC Pro, on the other hand, debuted roughly a decade ago and provides expanded access to CNBC’s content, including its live TV feed and a subscriber-only newsletter, for $300 a year."
"The company, which raised over $34 million since 2020, struggled to find a profitable business model. Like most media companies, its prospects grew worse amid the economic downturn."
"Sources say the company is losing millions of dollars paying for high-end office space in Washington while also supporting the salaries of over 50 employees."
"Chief executive Zillah Byng-Thorne warned that growth will be “modest” for the year ahead for the company, which owns price comparison site Go Compare as well as well as a wide array of mainly specialist consumer media magazine brands."
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"Yahoo didn't pay cash for its 25% stake in Taboola. Instead, Taboola issued more equity. "If you’re going to own 25%, you’re [usually] going to pay for it.” More insight into the unusual ad-tech deal"
"Ultimately, the vision seems to be that Post will allow users to pay micropayments for individual articles on Post."
"In a nine month review released on Thursday, the Treasury department said the news media bargaining code had been a “success to date”, allowing media companies to strike agreements with tech giants Google and Facebook-owner Meta for use of their content. But the review kicked any hope of changes to the framework down the road, proposing three further reviews."
"Independent news founders are seeing how audience research strategies can pay off, embracing the business side of their newsrooms, and continuing to demonstrate just how well they can serve audiences even with small scrappy teams."
"Time president Keith Grossman is leaving the legacy publisher to take on a new role as the president of enterprise at crypto startup MoonPay, effective December 31."
"T. Rowe Price, which owns about 12 percent of News Corp — making it the company’s largest shareholder after the Murdoch family — said in an interview with The New York Times that a merger of the two companies would probably undervalue News Corp."
"Independent Franchise Partners, one of largest non-Murdoch holders of both companies, says combination on its own would fail to realize full value of News Corp."
"None of that surprises Matt Lindsay, President of?Mather Economics, a consulting firm that specializes in media and data analytics. “The number of digital news users during the pandemic went up 30 percent. The [subscriber] conversion ratio went up 50 percent so the total number of starts went up 80 percent,” he says. “We are seeing that pageviews have gone down but publishers are getting better at converting subscribers so they are maintaining their numbers of new subscriptions. There’s been a learning curve and now the big thing is retention and monetization, how to raise the average price that people pay.”"
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