Between the bazillion ad technology companies all claiming to revolutionize online advertising and an explosion of devices and services that promise to deliver movies straight from the Internet to the TV, it’s a full time job keeping tabs on what can do what.
That’s why Interpublic Group’s Mediabrands launched Media Lab last Thursday, a 5,000 square foot space dedicated to learning and figuring out which end is up with various technologies available to marketers.
Back in September, right before the quarter ended, Viacom trimmed its advertising revenue outlook to high single digit growth from double digit growth. One of only a few media conglomerates to take that step–News Corp, Time Warner, and CBS were much more upbeat–the move prompted some concern among media watchers that advertisers were beginning to slash their budgets on macro-economic concerns.
But that wasn’t the case. It turns out the problem was Viacom specific. As the Sumner Redstone-controlled company disclosed during its fiscal fourth quarter results Thursday, domestic advertising revenue growth slowed in part because of a mid-September ratings plunge kids network Nickelodeon. Total domestic ad revenue across Viacom’s cable networks, which also includes MTV, VH1, and Comedy Central, for FQ4 was up 7 percent versus the third quarter’s climb of 12 percent.
The New York Times is expanding its technology blog Bits to include more reporting and analysis about the enterprise portion of the tech sector. The expanded coverage will encompass a broader range of subjects like “big data,” “cloud computing” and security issues.
“It’s an area the Times has never had a lot of reporting,” said Damon Darlin, technology editor who oversees the site.
(Reuters) – Viacom Inc’s quarterly revenue and profit rose, beating estimates, due mainly to the success of the Paramount film “Transformers: Dark of the Moon”.
Viacom, the company behind MTV and Paramount Pictures, also announced on Thursday that it expanded its stock repurchase program to $10 billion from $4 billion and said it expects to complete the buyback in two years.
Lending Club has been going after consumers who have stellar credit histories but have a less than stellar view of credit card companies that don’t reward their good record. The company also targets investors looking for a low-risk return on their capital.
Nov 7 (Reuters) – Demand Media reported a rise in
quarterly revenue, though it still faces tough questions about
its reliance on Google for traffic at one of its
Third-quarter revenue, excluding traffic acquisition costs,
rose 26 percent to $78.1 million, the company reported on
Monday. That was in line with analysts’ average estimate of
$78.2 million, according to Thomson Reuters I/B/E/S.
Just when you think things can’t possibly get any worse for newspapers, it somehow manages to get even bleaker. Today’s example is provided by the Washington Post Co and its flagship paper (and the online site Slate). The company reported third quarter earnings including results from its newspaper division today.
Print advertising revenue fell 20 percent to $57.6 million — quite a stunning plunge even as newspapers across the U.S. manage to post quarter after quarter of print ad revenue declines. Even more disturbing is that online revenue, which includes washingtonpost.com and Slate, plunged 14 percent to $23.3 million. Display online ad revenue dropped 17 percent.
Nov 3 (Reuters) – Barry Diller’s IAC/InterActiveCorp reported a higher-than-expected third-quarter profit
and said it would pay its first regular dividend.
Shares of the Internet holding company, parent of dating
site Match.com, search engine Ask.com and media site
CollegeHumor, rose 7.7 percent in morning trading on Thursday.
(Reuters) – AOL Inc’s third-quarter revenue dropped 6 percent because of its dwindling dial-up Internet access business though it beat analysts expectations and its stock rose more than 11 percent.
The company reported on Wednesday revenue of $531.7 million, ahead of analysts’ estimates of $524 million, according to Thomson Reuters I/B/E/S.
(Reuters) – Thomson Reuters Corp Chief Executive Tom Glocer, under pressure from the board to improve the company’s performance, said it may take until 2013 for the benefits of a recent reorganization to fully kick in.
“We’re not magicians,” Glocer said in an interview after the company reported a higher-than-expected rise in third-quarter profit and revenue.