Christmas was good to Hollywood.
The top holiday movie, “Marley & Me,” sold an estimated $37 million worth of tickets during the traditional three-day weekend beginning on Friday, and overall Christmas Day sales reached $75 million, up about $10 million from last year.
For all of you expecting a slow week at work, and looking forward to killing some time by watching your favorite music videos on YouTube, we have some bad news for you. Warner Music Group ordered YouTube on Saturday to remove all music videos by its artists. So, in other words, you’re not going to find the Red Hot Chili Peppers or T.I. on YouTube today — or at least you shouldn’t.
Advertising at the highest end of the luxury market may be the last to get hit in an economic slump, but it’s still going to get scathed before the ad market turns around, Nick Brien, who heads up Interpublic Group’s Mediabrands, a holding company for media buying and planning agencies, told the Reuters Media Summit in New York.
from Summit Notebook:
It's easy to tell that Bud Selig, Major League Baseball's commissioner, is a lifer, a true old-school fan with his dream job. He tells great stories about being a fan, a lifelong friend of icons like Hank Aaron, and is famous for being energetic when watching games live.
What’s the first thing many companies cut when times get tough? The marketing budget, of course. And, according to industry researcher eMarketer, spending on Internet advertising is not spared the knife. The firm now pegs 2008 U.S. online ad spending at $23.6 billion, down from its August projection of $24.9 billion. The new forecast would still represent an 11.3 percent bump from 2007.
Dimming prospects for an auto bailout spell trouble for the folks on Madison Avenue. Already, sources say that General Motors is taking a hard look at all of its advertising contracts – held by Interpublic and Publicis — to see if they should be renewed as they come up.