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Advertising Market

All articles tagged with #advertising market

business2 years ago

"Radio Owner Audacy Files for Bankruptcy, Raising Questions About Future"

Audacy, the owner of multiple Boston radio stations including WEEI, has filed for bankruptcy with nearly $2 billion in debt. The company, which operates over 200 stations in 45 markets, plans to restructure more than 80% of its debt through a bankruptcy agreement, aiming to reduce its debt to $350 million. Audacy's CEO attributes the financial challenges to changes in the traditional advertising market. Despite the bankruptcy filing, the company expects its operations to continue normally.

via Boston.com|
#advertising-market#audacy#bankruptcy
business2 years ago

Roku Surpasses Revenue Expectations, Signals Positive Ad Revenue Growth

Roku reports strong Q2 earnings with revenue of $847.2 million, including $743.8 million from platform revenue. The company's net loss improved to $126 million compared to $212 million in Q1. The TV advertising market remained muted, with traditional TV ad spend declining 9.4% YoY. Roku now has 73.5 million active accounts and streaming hours rose to 25.1 billion. The company expects revenue of $815 million in Q3 and will continue to invest in third-party licensed content for its platform.

via Hollywood Reporter|
#advertising-market#business#q2-earnings
business2 years ago

Navigating the Challenges of Upfronts Week for Media Giants and Advertisers.

Media companies are facing a soft advertising market and cost-cutting measures as they pitch to advertisers at this week's Upfronts. The Hollywood writers' strike is also a concern, with some productions already paused. Franchise content and ad-supported tiers for streaming services will be key topics of discussion. Free, ad-supported platforms like Pluto and Tubi are expected to see more advertising dollars.

via CNBC|
#advertising-market#business#franchise-content
business2 years ago

Vice Media on the brink of bankruptcy.

Vice Media Group is reportedly preparing to file for bankruptcy amid waves of media layoffs and closures. The company has received interest from five companies and might consider a sale to avoid bankruptcy. In the event of a bankruptcy, Vice’s debt holder Fortress Investment Group could end up controlling the company. The potential bankruptcy hits at a challenging moment for the industry, as several other media and technology firms have had to downsize in recent months due to a challenging economy and a weak advertising market.

via The Guardian|
#advertising-market#bankruptcy#business