SOS. Weekly Report

If you’re a brand that’s scaling Instagram, TikTok and Reddit, we want you to be thinking, ‘Okay, the next channel is going to be TV and premium video’.

The dirty secret is that search steals a lot of credit from TV, and we see that in the data. Once people understand the analytics around that, they’ll heavy-up on TV as the most performant medium.

Amazon's strategy is to get a cut of every possible outlet. On the commerce side, they've leaned into the supply chain so that from factory to door, they get a piece of it. The same is now true for advertising. Even if an ad sends traffic to a competitor's site, they'll take a small cut, because it's a transaction they wouldn't have had a piece of otherwise.

I believe we'll see equity involved, in some capacity, in every media rights deal that's renegotiated from here on out. These media companies are driving so much of the value that goes back to the leagues and teams and athletes. And while flat annual distributions from rights fees are valuable long term, equity is a powerful tool in a capital-constrained environment. It allows leagues to share in the upside while easing cost pressures for streaming and media companies.

We're at a time where there's a perfect storm of pressure on media companies. They have to rethink not just the late-night comedians, but the whole delivery system of content to their consumers.

David Ellison is clearly saying it’s about IPs, it’s about subcultures, and it’s about getting subscribers who already have built-in, loyal fan bases.

From an indie perspective, the Warner Bros. split makes the beast less scary for everybody. It feels like they are doing it exactly for the market they're competing in, which is very fandom-driven and experience-based.