Nexstar reported its first-quarter 2023 earnings Tuesday, revealing its overall ad sales were down 6% year-over-year but its digital revenue increased by a record 16.5%, in part due to the inclusion of the CW Network in its offering. The TV station group giant turned a profit of $88 million in…
Strictly Business
AMC Networks lost 300,000 subscribers across its streaming services in Q1, falling from 11.8 million at the end of 2022 to 11.5 million by March 31, the company reported in its earnings results Tuesday. This drop in subs follows a slight increase of 700,000 paid streaming customers between Q3 and…
Apple’s revenue declined again in the March 2023 quarter, marking its second consecutive quarterly drop in sales. But the tech giant topped Wall Street forecasts, with its services business hitting a new record for revenue and iPhone sales showing unexpected strength. The company reported revenue of $94.8 billion, down 3%,…
Paramount Global CEO Bob Bakish addressed the writers strike during Paramount’s Q1 earnings call Thursday, stating that writers are “an essential part of creating content” and “we hope we can come to a resolution that works for everyone fairly quickly.” However, the Paramount chief added, “it’s also fair to say…
Spotify packed on more users than it expected in Q1 but revenue fell short of its guidance, which the company blamed on headwinds in its advertising business. For the first quarter of 2023, the company said total monthly active users (free and paid) grew by 22% year-over-year to 515 million…
Scott Koondel grew up as an executive at CBS and Paramount Pictures, filling a content sales role that was indispensable to any studio operation in the 1980s, 90s and early 2000s. Today, four years after leaving CBS, he’s in a new role that is also indispensable for the current era…
When Ray Nutt took the reins of Fathom Events as CEO in 2017, the first thing he decided to change was the nomenclature used to describe the titles that the company distributes to hundreds of theaters around the U.S. “Alternative content” was the short-hand description used for the projects handled…
Nexstar reported its fourth-quarter 2022 earnings Tuesday, revealing its core ad sales fell 3.3% from Oct. 1-Dec. 31, the quarter during which it finalized its purchase of the CW Network, but political ad revenue was up 1,306.9% due to the 2022 midterm elections. The TV station groups giant reported core…
Universal Music Group is home to dozens of labels spanning every genre, from pop to hip-hop, rock to R&B, country to Latin and niche styles like Christian, classical and Jazz. To run one of these companies is to associate with top talent — household names like Taylor Swift, Billie Eilish,…
Roku’s fourth-quarter 2022 earnings came in above previously lowered expectations, as the company continued to see growth in its platform business. The streaming device and platform company posted revenue of $867.1 million, essentially flat year over year, and a net loss of $237.2 million (or $1.70 per share) for the…