Silicon Valley is disrupting television, turning up the pressure on old-school media companies that have been slow to keep up with shifting consumers trends, said Lorne Brown, the CEO of the ad tech firm Operative.
The battle between new media and traditional content companies is highlighted by Netflix's strong first-quarter earnings. The streaming service reported stronger-than-expected growth in customers in the U.S. and overseas.
The real story, said Brown in an interview on Cheddar, is that the streaming company's U.S. subscribers are "growing at a rate that no one thought was possible."
If Netflix ー or any of its digital rivals ー is going to overtake traditional media, Brown said it will have to overcome a number of structural obstacles.
The streaming service's strategy to pay up to $8 billion for new content in 2018 could pay off, but "it's a bet at the end of the day," said Brown.
Incumbent media companies such as Comcast, the largest broadcasting and cable television company in the world by revenue, and Viacom, which owns ad-supported cable networks including MTV, Nickelodeon, and Comedy Central, must adjust to meet the challenges from well-funded tech rivals.
In some cases, however, the traditional media firms may find it beneficial to team up with big tech companies, said Brown. He called it “co-mingling."
The emergence of over the top (OTT) viewing options and the acceleration of cord-cutting has been a major concern for cable networks as advertisers trim their TV budgets.
TV ratings are declining, and Netflix and Amazon Prime are paying top dollar for the industry’s most well-known producers. If the trends continue, television advertising will continue to slide, shrinking revenue for traditional networks. As a result, TV's share of total U.S. media ad spending will slide from 33.9% in 2017 to 31.6% in 2018, according to the research firm eMarketer.
For full interview, [click here](https://cheddar.com/videos/old-media-vs-new-media-the-future-of-tv).
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.
At 100 years old, the Goodyear Blimp is an ageless star in the sky. The 246-foot-long airship will be in the background of the Daytona 500 — flying roughly 1,500 feet above Daytona International Speedway, actually — to celebrate its greatest anniversary tour. Even though remote camera technologies are improving regularly and changing the landscape of aerial footage, the blimp continues to carve out a niche. At Daytona, with the usual 40-car field racing around a 2½-mile superspeedway, views from the blimp aptly provide the scope of the event.
You'll just have to wait for interest rates (and prices) to go down. Plus, this deal's a steel, the big carmaker wedding is off, and bribery is back, baby!
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
William Falcon, CEO and Founder of Lightning AI, discusses the ongoing feud between Elon Musk and Sam Altman, and how everyday people can use AI in their lives.
U.S. tariffs on steel and aluminum “will not go unanswered,” European Union chief Ursula von der Leyen vowed on Tuesday, adding that they will trigger toug
