Starting Status

The media decisions made in the coming years will have profound implications, not just for the industry, but for society as a whole. That's why it is so important to cast a watchful eye on the industry.

Author

Oliver Darcy
August 12, 2024

Welcome to the inaugural edition of Status! We’re deeply grateful for the overwhelming support you’ve shown in the past few days.

It’s a pleasure to be in your inbox this evening, bringing you the first of many nightly briefings on the most significant developments across the Fourth Estate, Hollywood, and Silicon Valley.

But, before we dive into all the news (and there is plenty of that), I thought it would be worthwhile to use this moment to draw a marker in the sand and review the current — and sadly not so good — state of the industry.

American media is in distress. News organizations are shrinking and slashing budgets as they face ferocious economic headwinds. Larger media conglomerates are facing existential threats to their businesses in the streaming era. And the technology titans of Silicon Valley, along with everyone else, are being upended by the promise of the coming A.I. revolution.

Simply put, it’s a tough landscape out there.

And the decisions made in the coming years will have profound implications, not just for the media industry, but for society as a whole. Media is at the heart of who we are as a people. It determines everything from the flow of news and information to the communication that binds us and the entertainment that shapes our culture.

That’s why it’s more crucial than ever to cast a watchful eye on the institutions and influential figures who steer this powerful ecosystem. Understanding the players that shape America’s information environment is essential to grasp where we are now and where we’re headed.

For instance, the story of Donald Trump's rise to power is incomplete without understanding the powerful propaganda machine he wields. The editorial decisions of some news organizations take on new meaning when viewed in the context of their corporate parents' business interests. And the warped nature of public discourse can’t be fully understood without recognizing how Silicon Valley’s titans govern their vast empires.

That is why, each night, through a mix of hard-hitting reporting and no-holds-barred analysis, we are committed to connecting the dots and telling you the actual status of the media industry. No sugarcoating, no holding back, no sparing sensitive egos – just the unvarnished truth about the companies and individuals who shape our world.

Thank you for joining us and supporting our journalism. We’re thrilled to have you on this journey with us. And thank you to our partners at beehiiv, the platform that is providing us with our newsletter and website infrastructure. Now, onward to the news.

The Information Wars

Elon Musk. (Photo by Apu Gomes/Getty Images)

X Marks the Disaster: Elon Musk likes to talk trash and assail the legacy news media. He often claims that X is the far superior alternative to their supposedly dated offerings. But on Monday the X owner once again learned just how difficult some of the simple tasks are to pull off. Musk was slated to host Donald Trump for a much-anticipated chat at 8pm ET. But the live interview was plagued by technical problems, not starting until about 45 min after the scheduled start.

It's not the first time an anticipated live-audio interview has struggled to launch on X. When Ron DeSantis launched his presidential campaign (remember that?) on the platform, it also stumbled greatly out the gates. Musk said over the weekend he was "going to do some system scaling tests" to ensure his house was in order for the Trump interview. Apparently, those tests were not enough. After the 45 minute delay, Musk kicked off the interview claiming that X had suffered a DDoS attack. Naturally, Musk used it all to claim it was effectively part of a larger plot to prevent Trump from speaking. The AP’s Meg Kinnard and Steve Peoples have more.

COMBAT ZONE

  • Ahead of the interview, Donald Trump returned to X, posting paid ads on the platform. [The Hill]

  • Meanwhile, shares in Trump Media and Technology Group closed down more than 5% as Trump resumed posting on X. [Deadline]

  • Claire Atkinson asked: "Why isn’t James Murdoch protesting 'far-right firebrand' Elon Musk?" [Media Mix]

  • Donie O'Sullivan explained how "the MAGA misinformation-industrial complex has gathered steam since 2020." [CNN]

  • "Trump’s Fox propagandists are begging him to become disciplined. He isn’t listening," Matt Gertz wrote. [MMFA]

  • Just another day in the right-wing media swamps: Newsmax anchor Tom Basile questioned Kamala Harris' faith: "Her mother was Hindu. Her estranged father has been tied to Marxism — an atheistic ideology." [Mediaite]

  • Matt Flegenheimer's profile of Bari Weiss has spawned all sorts of reactions. Read it yourself! [NYT]

The Op-Ed

"If you work in marketing a very bad thing happened last week, perhaps the worst thing that happened in my three and a half decade tenure in the industry,” advertising veteran Lou Paskalis writes for Status. “Did you catch it? I’ll give you a hint, the event that I am writing about doesn’t involve Google, Analytics, layoffs, CNN, IAS or DV. Stumped? What happened last week that has me so concerned is that the World Federation of Advertisers folded GARM in the face of a completely untrue report from the Jim Jordan-led House Judiciary Committee and a highly opportunistic lawsuit that it catalyzed from X owner and Twitter murderer Elon Musk. Why do I call this out as such a terrible outcome for the marketing industry? It sets a very dangerous precedent. It gives the perpetrators of misinformation a win that will undoubtedly embolden them in the future.” Read the full piece on Status.

The Fourth Estate

The New York Times building. (Photo by Spencer Platt/Getty Images)

Times Turns Away: New Yorkers will now have to look outside their most prominent newspaper if they wish to see political endorsements in local races. For reasons unknown, The NYT announced Monday that it will get out of the New York endorsement arena. “While elections everywhere remain critical to the lives and experiences of our audience, the editorial board is ceasing the endorsement process for New York elections,” Opinion boss Kathleen Kingsbury said in a statement. “We remain a journalistic institution rooted in New York City, both historically, today and in the future.” CNN's Liam Reilly has more here.

OFF THE WIRE

  • Adam Piore checked in on Mark Thompson with a deeply reported piece on his efforts to transform the network. "All he asks is patience," Piore writes. [CJR]

  • In an op-ed for The NYT, Katie Couric said it is "more than a little disappointing" that CBS News chose two males anchors to replace Norah O'Donnell: "Don’t get me wrong: I know, like and respect these two journalists. But soon, on the big three networks, there will be four male anchors." [NYT]

  • The NYT, The WaPo, POLITICO reported being contacted by a person claiming to have access to internal Donald Trump campaign documents. The Trump campaign has blamed Iran for a hack and the FBI is probing. [Guardian]

  • Shares in BuzzFeed jumped more than 20% in after-hours trading after reporting earnings in which boss Jonah Peretti said the company's "strategic and organizational changes" have helped "stabilize our business" and "are beginning to pay off." [THR]

  • Rachel Maddow, Kara Swisher, and other podcasting pros spoke to THR about the secrets of the trade. Asked what is the biggest challenge the industry is facing, Maddow answered, "None of the apps are great. We don’t just need curation and charts, we need rational organization, and a meritocratic way for the best and most relevant shows and episodes to circulate efficiently." [THR]

  • Kasie Hunt spoke to Brian Steinberg about how "CNN This Morning" is "not a politics-only morning show." [Variety]

  • Michael Grynbaum and Brooks Barnes wrote about Kamala Harris' friendship with Dana Walden. "ABC News says that any perception of a conflict involving Ms. Walden is not reality." [NYT]

MEDIA MOVES

  • Bloomberg News has hired Myles Miller as a managing editor. [TBN]

  • Have a media move? Get in touch here.

The Biz

Warner Bros. Discovery chief David Zaslav. (Photo by Ethan Miller/Getty Images)

Warner Woes: Will Warner Bros. Discovery be able to reverse the downward spiral it finds itself in? The media conglomerate had yet another brutal day on Wall Street, hitting a record low of $6.66 a share and ultimately closing at a paltry $6.71. As The Wrap's Jeremy Fuster reported, the David Zaslav-led company's market cap "now stands at $16.45 billion, roughly a third of the $50 billion estimate the company had after WarnerMedia and Discovery completed their merger in April 2022." Fuster has more here.

THE LEDGER

  • Peter Kafka's proposal: "Apple should buy Warner Bros. Discovery. No, seriously." (Business Insider)

  • Lucas Shaw with the big picture: "Streaming was always going to be hard for legacy media companies; cannibalizing your most profitable operation to benefit a new, unprofitable business is counter-intuitive. Transitioning from one era to another has bedeviled executives forever. But every one of these companies has made decisions that harmed their future prospects." [Bloomberg]

  • Shares in Dish-parent EchoStar closed down the day more than 7% after a poor earnings report. [Deadline]

  • Elaine Low reports that "SAG-AFTRA and the Animation Guild's new contract disputes are canaries in the AI coal mine." [The Ankler]

  • On a more positive note: "While cable is challenged, analysts believe there will be a loyal set of pay-TV customers — around 50 million households — for the foreseeable future, thanks to cable networks like ESPN that still own live sports rights," Sara Fischer writes. [Axios]

Masters of the Universe

Facebook headquarters in Menlo Park. (Photo by Justin Sullivan/Getty Images)

Meta Turns Up the Music: Get ready to see music from Universal Music Group artists appear on WhatsApp. Meta and UMG on Monday announced it had inked a new deal, which they said builds on their initial 2017 agreement. In making the announcement, both Meta and UMG said the new deal "reflects the two companies’ shared commitment to protecting human creators and artistry, including ensuring that artists and songwriters are compensated fairly." The two companies added, "As part of their multifaceted partnership, Meta and UMG will continue working together to address, among other things, unauthorized A.I.-generated content that could affect artists and songwriters." The WSJ's Dominic Chopping has more here.

TECH TALK

  • RIP: The tech industry remembered Susan Wojcicki, the pioneering former YouTube chief executive who died over the weekend at 56 from lung cancer. [Adweek]

  • 👀 "A new study found that several prominent, progressive Instagram accounts saw their reach decline by 65% on average in the months following Meta’s move to subdue political content on the app," Alicia Clanton reports. [Bloomberg]

  • Is Reddit the new hot social platform for publishers? Mark Stenberg reports that outlets are "redoubling their presence on Reddit as the platform rises in search visibility." [AdWeek]

  • This story published last week but is finding newfound attention: "ChatGPT unexpectedly began speaking in a user’s cloned voice during testing," Beni Edwards reports. [Ars Technica]

  • YouTube said it is debuting a new "personal radio" feature that lets you effectively become a DJ and curate music for others to listen to. [The Verge]

The Closing Number

Jimmy Kimmel. (Photo by Kevin Winter/Getty Images)

Kimmel Explains Oscars Opt Out: Appearing on the "Politickin" podcast, Jimmy Kimmel explained why he opted not to host the Oscars this year, despite his previous performances being well-received. The late-night host, who has hosted the annual awards show four times, said the gig simply requires too much work and he didn’t want to commit to it. "When I’m focused on the Oscar, I’m less focused on the show," Kimmel said. "And I just decided I didn’t want to deal with that this year. It was just too much last year." Kimmel went on to add that he figured he'd "take a little break." THR's Kevin Dolak has more.

► Kimmel also said he doesn't know " if there will be any late-night television shows on network TV" in a decade: "Maybe there’ll be one but there won’t be a lot of them." Deadline’s Peter White has more on that here.

PARIS 2024

  • "NBC and the Paris Olympics were a match made in TV heaven," Tom Jones wrote. [Poynter]

  • Warner Bros. Discovery said its carriage of the Olympic Games in Europe broke streaming and viewership records. [THR]

  • Bilge Ebiri wrote of "the peculiar joy of watching Tom Cruise jump from the sky." [Vulture]

  • Daniel D'Addario wrote about the impact music had on the Paris Games: "[Taylor] Swift and Beyoncé, contributing to the NBC broadcast, were illustrative, too, of the Games’ deep engagement with culture." [Variety]

FINAL BOW

  • The 2024 MTV Video Music Awards shifted from September 10 to September 11 to avoid a conflict with the planned presidential debate. [Billboard]

  • Taylor Swift has broken yet another one of her records. The music phenomenon notched another week atop the Billboard 200 list, her 14th. In doing so, Swift also denied Kanye West's streak of No. 1 albums. Safe to say Taylor and Karma do vibe like that. [Variety]

  • Barack Obama posted his summer book and music recommendations. It looks like he is Team Eilish? [Mediaite]

  • Layoffs and confusion: Diana Falzone reports on the "chaos" at Dr. Phil's media network. [Mediaite]

  • In an interview with Todd Gilchrist, Vince Vaughn complained "responsible" comedies are a "snooze fest," adding that "a responsible comedy feels like a time to take a nap." [Variety]

  • James Cameron spoke to James Hibberd for a wide ranging interview in which he disclosed he's "working on my own 'Terminator' stuff right now." Asked what he meant, Cameron replied, "It's totally classified." [THR]

  • Netflix released a teaser for "Squid Game" season two. [YouTube]

  • Netflix also green lit an animated "Ghostbusters" series. [Variety]