Despite growing usage of social media platforms during the coronavirus pandemic, the platforms’ ad businesses are plummeting. Twitter, for example, saw its daily usage skyrocket 23 percent this year, but its revenue may have dropped as much as 20 percent in March. As businesses have slowed down or shuttered, marketers are decreasing or even stopping advertising, which is the core support of media companies. In difficult economic times, advertising spending on the media sector is often the first to be cut. Continue reading Advertising Sales Plummet Even as Social Media Usage Soars

Amazon is reportedly among those vying to acquire Landmark Theatres, the country’s largest chain focused on indie and foreign movies. Landmark is part of the Wagner/Cuban entertainment holdings, backed by film producer Todd Wagner and billionaire investor Mark Cuban. According to insiders, Landmark’s owners have been working with financial services firm Stephens Inc. on a possible sale. The move would introduce Amazon to the brick-and-mortar cinema industry, while complementing the e-commerce giant’s media expansion of interests such as Prime Video, Prime Music and Amazon Studios. Continue reading Amazon May Expand Media Efforts With Landmark Purchase

According to recent news reports, Amazon is planning to launch a new ad-supported streaming service early next year that will be separate from Prime. The ad-supported option could become a significant challenger to streaming services such as Netflix and Hulu, especially if it undercuts the monthly fees of its rivals. Sources indicate that the new service would ultimately serve as a vehicle to attract more subscribers for Amazon Prime. Meanwhile, Amazon has denied plans to offer a new service. Continue reading Amazon Considering a New Ad-Supported Streaming Service?