Business of Media
Disney’s local profits soar as government prepares for content crackdown
Global entertainment giant Disney more than quadrupled its Australian profits last financial year, as the release of hit shows such as Only Murders in the Building, The Bear, and The Dropout drove an increase in revenue for its streaming service, reports Nine Publishing’s Zoe Samios.
Financial accounts lodged with Australia’s corporate regulator show US entertainment giant, The Walt Disney Company, paid $13.6 million in tax and posted a $46.3 million profit – a 408 percent increase on the previous financial year.
Total revenue grew from $685.5 million $704.5 million, boosted by an increase in the money it receives from Disney Plus subscribers and from selling its content to other platforms.
Production and film revenue fell from $292.3 million to $131.5 million, a decline that has occurred as the local sector pushes to impose local content obligations on international streaming giants. The decline coincided with a reduction in production expenses to $154.6 million. Employee expenses also fell significantly.
Disney and other major US entertainment companies, such as Netflix Australia, are facing a government push to crack down on the amount of local content they create.
Meta advertisers brush off Trump’s potential return
Former U.S. President Donald Trump‘s potential return to Meta Platform’s Facebook and Instagram is unlikely to change how advertisers spend money with the world’s second-largest digital ad company, ad agency executives said, reports Reuters‘ Sheila Dang and Katie Paul.
This is good news for Meta whose stock has halved over the past year amid a slowdown in ad spending as brands cut their marketing budgets in response to historic inflation.
In a blog post on Wednesday announcing Trump’s reinstatement, Meta said he will face “heightened penalties for repeat offenses.” The company, then called Facebook, banned Trump two years ago after he praised rioters who stormed the U.S. Capitol on Jan. 6, 2021.
While Meta’s closely watched deliberation on whether to reinstate Trump was polarizing, ad buyers said the platform’s broad reach of 3.7 billion users is too important for many businesses.
AP apologises and deletes widely mocked tweet about ‘the French’
The Associated Press Stylebook, considered one of the most reliable guides to correct use of the English language for journalists, has apologised after producing a list of terms it thought could be dehumanising that included “the French”, reports The Guardian’s Kevin Rawlinson.
The organisation tweeted advice not to use generic labels for groups of people who share a single common trait, giving as examples the poor, the mentally ill and the college-educated. It also included grouping together everyone from the European nation under the same banner.
“We did not intend to offend. Writing French people, French citizens, etc., is good. But ‘the’ terms for any people can sound dehumanizing and imply a monolith rather than diverse individuals,” the organisation said on its AP Stylebook Twitter account.
“That is why we recommend avoiding general ‘the’ labels such as the poor, the mentally ill, the wealthy, the disabled, the college-educated.
Netflix focus on quantity over quality is a turn-off for subscribers
The feeling will be familiar to many Netflix subscribers. There are reams of films and TV series to watch but few that appeal, and even when you start one, it might not feel worth persevering with, reports The Australian’s Liam Kelly and Narottam Medhora.
New data now backs up what many have long suspected: the quality of the streaming giant’s original productions is declining – at least, according to viewers.
Despite having an annual content budget of about $US17bn, the popularity of Netflix’s output has been falling in recent years.
Sunday Times analysis of reviews on the IMDb (Internet Movie Database) website, which aggregates the marks out of 10 given to shows by millions of users, shows that quality has suffered as Netflix works on growing the quantity of its output.
The average rating for its productions hit a high point of 7.7 in 2013 but fell to 6.5 last year.
See Also: Make It Australian win: Labor making streamers invest more in funding shakeup
Erin Molan says she’s ‘forever broken’ in emotional tribute to dad
An emotional Erin Molan has described how she will be “forever broken” following the death of her father, posting a heartfelt tribute on social media, reports News Corp.
Senator Jim Molan died peacefully among his family earlier this month following a battle with prostate cancer.
He was laid to rest during a moving service at the Royal Military College at Duntroon earlier this week during which the Sky News Host described her dad as her “hero” who she idolised her whole life.
In an Instagram post on Sunday, she thanked her supporters for their messages of support over the last several weeks.
“We all knew how we felt about dad but to have so many people share such beautiful words and memories has blown me away … and I know dad would have been supremely chuffed,” she said.
“I promise I will get back to every single person who has reached out… it just might take me a while.”
News Brands
Laura Tingle to run for ABC board as government prepares shakeup
High-profile ABC journalist Laura Tingle has rebuffed her union-backed colleagues to campaign for a position on the public broadcaster’s board in an attempt to provide staff with a more independent voice, reports Nine Publishing’s Zoe Samios.
ABC’s 7:30 chief political correspondent has nominated herself for a staff-elected seat on the board, but has not requested an endorsement from the media union like other candidates. The process coincides with the Albanese government deciding to replace Turnbull board appointee Joseph Gersh from the board once his first term expires.
“The job of the board is to scrutinise decisions management are taking which affect both the corporation as a whole but also, obviously, the staff,” Tingle told this masthead.
“The staff-elected director brings the experience and perspective of staff to that scrutiny. It’s about a lot more than pay and conditions. The recent cuts to ABC archives is a classic case in point which has profound implications for the way we do our job, and for the ABC’s obligations to preserve our national memory.”
The staff-elected board role, currently held by radio producer Jane Connors, is typically backed by the Media, Entertainment and Arts Alliance. Tingle, who was previously The Australian Financial Review’s political editor and is a union member, said she felt she could not be independent if she was backed by the union.
News Corp prepares for tabloid price rise
Rupert Murdoch’s News Corp will hike the cover price of its metropolitan tabloids across Australia as it braces for a weaker advertising market, reports Nine Publishing’s Zoe Samios.
Multiple sources familiar with the plans, who asked for anonymity to speak freely, said the New York-based media company is also planning a major redesign of the print editions of The Daily Telegraph, The Herald Sun, and The Courier-Mail, as part of the changes.
The price increase – expected to be substantial – was approved by global News Corp chief executive Robert Thomson, the sources said. News Corp did not respond to requests for comment.
News Corp owns a range of other local assets, including The Australian as well as cable TV operator Foxtel and streaming services Kayo and Binge.
The company has not provided reasons for the proposed changes, but this masthead reported last year the publishing industry was facing major increases in the cost of paper, caused by soaring electricity prices and shipping costs. News Corp, as the largest print publishers in Australia, was facing the prospect of limits on how much paper it could use.
Television
Harry Connick Jr on that blackface racism scandal
More than 3.3 million viewers watched the finale of the first season of Australian Idol in 2003. Since then, many reality competition series have followed, attracting varying levels of audience engagement – and tolerance for what judges can say about the hopefuls who appear on them. But a phenomenal talent with a great backstory will make for a compelling show every time, says American singer Harry Connick Jr, now a judge on Seven Network’s reboot of Australian Idol. As he tells The Binge Guide, “It’s just really good TV,” reports News Corp’s Siobhan Duck.
Although Harry Connick Jr is a globally lauded singer, musician and actor, he says he’s not so sure he would have had what it takes to win American Idol.
“When I came out on the scene, I was playing jazz music and I don’t think Idol is interested in that,” he tells The Binge Guide.
But the last time that Connick Jr sat on an Australian TV judging panel, he made headlines around the world. As a guest on variety series Hey Hey It’s Saturday in 2009, the New Orleans singer took great offence to an act involving blackface.
Visibly uncomfortable, he slammed the performance and later received a public apology from host Daryl Somers.
The controversy from the live segment was dissected for weeks afterwards in the media and sparked a wider conversation about entrenched racism in popular culture.
“I didn’t know to what extent what I said had an effect on things [in Australia],” Connick
Jr admits, especially because he had left the country shortly after his appearance and didn’t see the reactions to his comments in real time.
“But I have heard people say that a dialogue started as a result of that and the people I’ve spoken to were appreciative that this conversation actually exists.”
World’s best actors to grace Gold Coast as Queensland locks in AACTAs awards
Some of the world’s best actors will grace the Gold Coast, with Queensland locking in Australia’s premier film awards night, reports the ABC’s Nicholas McElroy.
Russell Crowe, the Australian Academy of Cinema and Television Arts (AACTA) president, announced the organisation would shift its annual awards night from Sydney to the Gold Coast.
He said the region would host the awards ceremony for three years from 2024.
“This is going to be an event that really shakes things up,” Crowe said.
Speaking at Burleigh Heads on Saturday, Crowe said the move acknowledged how much Queensland’s film industry had grown.
“We’re looking forward to broadcasting a memorable show and showcasing the Gold coast and the great state of Queensland,” he said.
“Queensland, it has to be said, right now in terms of film productions, is leading the way.”
Sports Media
Early Australian Open numbers roll in
With the dust settling on the Australian Open now that Novak Djokovic and Aryna Sabalenka have lifted the singles trophies, analysis can begin on the viewership numbers.
While News Corp is reporting that “there has been a 40 per cent drop-off of viewers,” that view is not universal.
Writing on LinkedIn, Dentsu’s Chief Investment Officer Ben Shepherd wrote:
“Based on metro overnight ratings and a conservative ~10% incremental live on-demand audience, Nine’s coverage of the AO women’s final will be up around 10% on 2021 viewership (the best overall comparison given 2022 was dominated by Ash Barty).
“A pretty strong result and worth congratulating the Nine team – a double digit improvement on the closest comparable figure is impressive.”