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The Medium
by Andrew A. Rosen
Deep insight and analysis of the media marketplace as the business models for "premium content" are redefined by creators, tech companies and 10 million emerging advertisers.
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entertainment
media/telecom
Friday Mailing: Mark My Words, We Must Imagine Other Business Models for Netflix Than Advertising
By
Andrew A. Rosen
· March 18, 2022 10:30 AM PDT
I have a new opinion piece up on The Information, "A Vibe Shift Is Brewing In Streaming". The question I answer is, after a disorienting six months in the streaming marketplace, what will replace the “streaming wars” paradigm?There has been lots of discussion about Netflix's future after CFO Spencer Neumann's appearance at the Morgan Stanley...
I have a new opinion piece up on The Information, "A Vibe Shift Is Brewing In Streaming". The...
The Medium
apple
entertainment
Member Mailing: "Aggregate Audience" in Sports Streaming & Why More Deals = More Consumer Confusion
By
Andrew A. Rosen
· March 16, 2022 10:30 AM PDT
Key TakeawaysOver the past two weeks, there has been a flurry of deals and developments in sports streaming But, streaming is not (yet) a one-to-one replacement for linear distribution of sports broadcastsThe flurry of recent streaming deals suggest it may never beThis has implications for both recent sports streaming deals and...
Key TakeawaysOver the past two weeks, there has been a flurry of deals and developments in sports...
The Medium
entertainment
media/telecom
Monday AM Briefing: More on Paramount+'s "Hard Bundles", (Members only: Yuga Labs Acquires CryptoPunks & Meebits IP from Larva Labs)
By
Andrew A. Rosen
· March 14, 2022 3:30 AM PDT
I wrote a bunch last week about Paramount Global's decision to build "hard bundles". In thinking more about it - because it is a significant tactical move to drive scale - I'm not sold we have a solid definition of what a "hard bundle: is because we don't have the "ins and outs of the deal".This was a point made to me by former NBCU executive...
I wrote a bunch last week about Paramount Global's decision to build "hard bundles". In thinking...
Friday Mailing: Legacy Media pivots aways from their SVOD ambitions
By
Andrew A. Rosen
· March 11, 2022 11:02 AM PST
The Medium
entertainment
media/telecom
Friday Mailing: Legacy Media pivots aways from their SVOD ambitions
By
Andrew A. Rosen
· March 11, 2022 11:02 AM PST
Over the past week, a wide variety of interviews with executives in the streaming business have emerged, in part because of the ongoing Morgan Stanley Technology, Media & Telecom Conference. Comcast CEO Brian Roberts, Disney CFO Christine McCarthy, Netflix CFO Spencer Neumann and Paramount Global CEO Bob Bakish all spoke at the...
Over the past week, a wide variety of interviews with executives in the streaming business have...
The Medium
entertainment
media/telecom
Member Mailing: WarnerMedia & Netflix's Narrow but Fascinating Challenges in AVOD & Gaming
By
Andrew A. Rosen
· March 9, 2022 10:40 AM PST
Key TakeawaysAVOD and gaming highlight two fascinating strategic challenges for WarnerMedia and Netflix. Recent data on Gen Z and millennials seem to reflect substantial changes in consumer behavior on the demand side. But, from WarnerMedia and Netflix's perspectives, gaming and AVOD are not sure-fire bets on capturing these...
Key TakeawaysAVOD and gaming highlight two fascinating strategic challenges for WarnerMedia and...
The Medium
entertainment
media/telecom
Monday AM Briefing: Paramount+ & Ubiquitous Distribution, Verizon Expands Its "Aggregator 2.0" Bundle
By
Andrew A. Rosen
· March 7, 2022 3:30 AM PST
Paramount+ & Ubiquitous DistributionI was interviewed by The Verge's Catie Keck last week for an article about the future of Paramount+ in "Paramount Plus is still figuring out Paramount Plus".To prepare for the interview I re-read the transcript of the Q4 2021 earnings call, and I realized I'd missed a fascinating detail about its...
Paramount+ & Ubiquitous DistributionI was interviewed by The Verge's Catie Keck last week for...
The Medium
entertainment
media/telecom
Friday Mailing: Disney+ AVOD and The Market Problem of Reach
By
Andrew A. Rosen
· March 4, 2022 10:30 AM PST
This morning Disney announced it will introduce an ad-supported subscription option in the U.S. in late 2022, with plans to expand internationally in 2023.We had a warning signal about this yesterday from The Information's Jessica Toonkel, and it was confirmed this morning.I think the key paragraph in the press release is this one:“Since its...
This morning Disney announced it will introduce an ad-supported subscription option in the U.S....
Member Mailing: Amazon, MGM, and How Lina Khan's FTC Misunderstands the Value of IP in Streaming
By
Andrew A. Rosen
· March 2, 2022 11:30 AM PST
The Medium
entertainment
media/telecom
Member Mailing: Amazon, MGM, and How Lina Khan's FTC Misunderstands the Value of IP in Streaming
By
Andrew A. Rosen
· March 2, 2022 11:30 AM PST
Key TakeawaysThe FTC is contemplating a lawsuit over Amazon's acquisition of MGMThe argument assumes that the withholding of content from other competitors is a competitive advantageBut, we have seen with Netflix's recent moves in gaming, the value of IP to streamers is evolving past streamingWe have seem similar evolutions in sports...
Key TakeawaysThe FTC is contemplating a lawsuit over Amazon's acquisition of MGMThe argument...
The Medium
entertainment
media/telecom
Monday AM Briefing: YouTube at 2022 Upfronts, Which Streamers Will Survive in 2022?
By
Andrew A. Rosen
· Feb. 28, 2022 3:30 AM PST
Seemingly lost in last week's news cycle were these data points shared by YouTube in a new blog post, YouTube is the Main Stream: Our NewFronts and Upfronts approach:according to Nielsen, YouTube reached over 135 million people on connected TVs in the U.S. in December 2021 (NOTE: up from 120MM in December 2020);YouTube accounts for over 50%...
Seemingly lost in last week's news cycle were these data points shared by YouTube in a new blog...
The Medium
entertainment
media/telecom
Friday Mailing: Warner Bros. Discovery Is "A Real Company" Facing A Flip-of-a-Coin Future
By
Andrew A. Rosen
· Feb. 25, 2022 10:38 AM PST
Two quick follow-ups to past mailings:To Monday's Bored Ape Yacht Club, Hello Sunshine, World of Women & New Frontiers for IP, Nilay Patel of The Verge interviewed Tonya Evans, a law professor at Penn State Dickinson Law, about crypto assets and how they interact with the law (transcript and audio can both be found here)...
Two quick follow-ups to past mailings:To Monday's Bored Ape Yacht Club, Hello Sunshine,...
The Medium
entertainment
media/telecom
Member Mailing: Fox's "Less is More" & Paramount Global (née ViacomCBS) in 2022
By
Andrew A. Rosen
· Feb. 23, 2022 10:38 AM PST
Key TakeawaysInvestors reacted negatively to ViacomCBS's rebrand as Paramount Global and its growth story for streamingIn 2017, Paramount Chair Shari Redstone's push for the ViacomCBS merger ran contrary to how leaders like Fox's Rupert Murdoch and Disney's Robert Iger foresaw disruption in mediaThat foresight led to the sale of 21st...
Key TakeawaysInvestors reacted negatively to ViacomCBS's rebrand as Paramount Global and its...
Monday AM Briefing: Bored Ape Yacht Club, Hello Sunshine, World of Women & New Frontiers for IP
By
Andrew A. Rosen
· Feb. 21, 2022 3:30 AM PST
The Medium
culture
crypto
Monday AM Briefing: Bored Ape Yacht Club, Hello Sunshine, World of Women & New Frontiers for IP
By
Andrew A. Rosen
· Feb. 21, 2022 3:30 AM PST
First, in case you missed it, I had an opinion piece in The Information last Friday: Why Disney+, Paramount+ and Legacy Media Streamers Can’t Escape the Past.You can read it for free (with login) at the link above.I wrote Where Web3 & Legacy Media Overlap a few weeks back. In the essay, I took a stab at reverse-engineering the...
First, in case you missed it, I had an opinion piece in The Information last Friday: Why Disney+,...
The Medium
entertainment
media/telecom
Friday Mailing: FX's John Landgraf At The Intersection of Volume, Quality & Cadence of Supply
By
Andrew A. Rosen
· Feb. 18, 2022 10:39 AM PST
There is an opinion piece I wrote for The Information that was just published earlier. It's about how the data from 2021 reflects how, in trying to compete against Netflix, legacy media companies wind up competing against their own back catalogs.It builds off the Chuck Klosterman perspective I wrote about in Monday's "Content Isn't King Because...
There is an opinion piece I wrote for The Information that was just published earlier. It's about...
The Medium
entertainment
media/telecom
Member Mailing: If Investors AND A-List Talent Foresee Declining Returns from Streaming, Then What Happens Next?
By
Andrew A. Rosen
· Feb. 16, 2022 10:30 AM PST
[Author's Note: if you have clicked on links in this email or recent ones, and it has not taken you to a website, it is a back-end issue we are fixing today. My apologies for any inconvenience.]Key TakeawaysThe basic premise of the Curse of the Mogul is that content creators reap more value than shareholdersThere have been a few key twists in...
[Author's Note: if you have clicked on links in this email or recent ones, and it has not taken...
The Medium
entertainment
media/telecom
Monday AM Briefing: Content Isn't King Because Culture Is "A Very Shallow Ocean"
By
Andrew A. Rosen
· Feb. 14, 2022 3:30 AM PST
In last Friday's mailing, I argued that Disney+ domestic growth of 2MM subscribers via a Hulu Live bundle suggests why marketing - and not content - may be king in streaming:Disney's "North Star" is also in understanding the types of pricing and other incentives a consumer needs to both sign-up and also not churn out. That is not only a...
In last Friday's mailing, I argued that Disney+ domestic growth of 2MM subscribers via a Hulu...
By
Andrew A. Rosen
· Feb. 11, 2022 9:39 AM PST
The Medium
entertainment
media/telecom
Friday Mailing: Disney, The Hulu + Live TV Bundle & Why Marketing Is King
By
Andrew A. Rosen
· Feb. 11, 2022 9:39 AM PST
Two notable data points came out of Disney's Q1 earnings yesterday.First, it broke out its domestic U.S. and Canada subscribers for Disney+ for the first time, revealing it had 42.9MM in FY Q1 2022, and 36.3MM in FY Q1 2021. It confirms something that I had long suspected: Disney+ has struggled to break past 40MM subscribers in the U.S. ...
Two notable data points came out of Disney's Q1 earnings yesterday.First, it broke out its...
The Medium
amazon
apple
Member Mailing: Why Peloton Within Apple or Amazon Would Be An Optimal 21st Century Media Business
By
Andrew A. Rosen
· Feb. 9, 2022 9:30 AM PST
Key TakeawaysPeloton's objectives to become the "Netflix of Wellness" hit a wall in its first two quarters of fiscal 2022Peloton has admitted to investors that it fundamentally misread the market and its target customersSales growth dropped to 6% YoY in Q2 of fiscal 2022, while its operating expenses jumped 92%The stock has declined 76% over the...
Key TakeawaysPeloton's objectives to become the "Netflix of Wellness" hit a wall in its first two...
The Medium
facebook
amazon
Monday AM Briefing: Tension between Creator Economy Strategies & Short-Form Video Business Models
By
Andrew A. Rosen
· Feb. 7, 2022 3:30 AM PST
A Quick Follow-Up To Amazon Advertising's Seismic (?) Breakout QuarterI got a fun question from The Entertainment Strategy Guy (ESG) on Twitter shortly after Amazon Advertising's Seismic (?) Breakout Quarter went up:It's a great question: what evidence do we have that Amazon is monetizing video well? Since Amazon doesn't break out...
A Quick Follow-Up To Amazon Advertising's Seismic (?) Breakout QuarterI got a fun question from...
The Medium
amazon
entertainment
Friday Mailing: Amazon Advertising's Seismic (?) Breakout Quarter
By
Andrew A. Rosen
· Feb. 4, 2022 9:36 AM PST
Amazon broke out its Advertising business from "Other" in its earnings release for Q4 2021 yesterday. At $31.2B it's an enormous business, as Axios' Sara Fischer highlighted this morning: it's one of the fastest growing advertising businesses in the world and now generates more annual advertising revenue than Microsoft, Snapchat and...
Amazon broke out its Advertising business from "Other" in its earnings release for Q4 2021...
Member Mailing: YouTube's Q4 Earnings & The Quiet Revolution of the AV1 Codec
By
Andrew A. Rosen
· Feb. 2, 2022 9:40 AM PST
The Medium
google
entertainment
Member Mailing: YouTube's Q4 Earnings & The Quiet Revolution of the AV1 Codec
By
Andrew A. Rosen
· Feb. 2, 2022 9:40 AM PST
Key TakeawaysYouTube's Q4 earnings highlighted quarterly revenues greater than Netflix's, but slowing ad growthYouTube offered creator economy, NFT and live shopping as potential models for growthBut, the underlying engine of growth may be market adoption of the AV1 codec, a core issue of last year's dispute with RokuIn other words, the AV1...
Key TakeawaysYouTube's Q4 earnings highlighted quarterly revenues greater than Netflix's, but...
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