Business of Media
James Murdoch, Uday Shankar unveil $1.5B investment platform backed by Qatar
James Murdoch and Uday Shankar, the former CEO of Star India and president of Walt Disney in Asia Pacific, have unveiled a new venture to make technology and media investments in southeast Asia, reports The Hollywood Reporter’s Etan Vlessing.
Murdoch’s Lupa Systems and Shankar have formed Bodhi Tree, an investment platform with financial backing from the Qatar Investment Authority. The QIA has committed to invest up to $1.5 billion to invest in media and consumer technology companies in southeast Asia, with a particular focus on India.
Bodhi Tree will leverage technology to invest in media, education and healthcare sectors. Ownership terms for the strategic partnership were not disclosed, but the newly formed venture will be run by Murdoch and Shankar as co-chairs.
‘Apocalypse Now’: Roberts-Smith accuser told journalists different soldier killed Afghan
One of Ben Roberts-Smith’s central accusers initially told journalists a different SAS soldier was responsible for an alleged war crime murder, a court has heard, reports News Corp’s Perry Duffin.
The SAS witness, dubbed “a liar” by Roberts-Smith’s lawyers, has also denied he told journalists the Victoria Cross recipient was “up the river” like Colonel Kurtz from the movie Apocalypse Now.
Roberts-Smith is suing Nine and its journalists Nick McKenzie and Chris Masters over a series of articles claiming he was involved in unlawful killings while deployed with the SAS in Afghanistan. Roberts-Smith denies he either ordered the six killings, or pulled the trigger, and says Nine defamed him.
Nine stands by the stories, saying they are true and, this week, called an SAS soldier to testify against Roberts-Smith.
Disney eases streaming fears with strong subscriber growth
Walt Disney eased concerns about the future of streaming video, reporting a strong rise in new subscribers to Disney+, while increased attendance at US theme parks also added lustre to its quarterly results on Wednesday (Thursday AEDT), reports Reuters’ Helen Coster and Eva Mathews.
Disney chief executive Bob Chapek said he still believes the streaming service, home to hits such as The Mandalorian and Black Widow, will have 230 million to 260 million subscribers by 2024. The company added 11.8 million Disney+ subscribers in the first quarter.
The company also forecast stronger subscriber growth in the second half of its year than in the first half. The results lifted shares 8 per cent in after-hours trading on Wednesday.
Agencies
Omnicom Group experience Q4 2021 revenue growth
Omnicom Group has shared its Q4 2021 financial results alongside its results for the entirety of 2021.
The global leader in marketing and corporate communications reported total revenue of A$5.38 billion (US$3.86 billion) with organic growth of 9.5% in the fourth quarter.
Their worldwide revenue for 2021 increased 8.5%, rising to A$19.9 billion (US$14.3 billion) from A$18.4 billion (US$13.2 billion).
Chairman and CEO John Wren said the group’s global organic revenue growth exceeded expectations.
“Once again, thanks to the efforts of our people across Omnicom, we were pleased to see strong results across all geographies and services, led by our focus on digital, precision marketing and consulting.
“Our teams are working together in powerful new ways – with leading technology and data solutions – to deliver the best client outcomes in a rapidly evolving market. We are optimistic in our 2022 outlook and expect to continue build on our long-term record of improving profitability and sustained value creation,” he said.
Despite the negative effects of COVID-19, the groups worldwide revenue in the fourth quarter continued to improve. The increase in revenue can be accredited to organic growth of 9.5%, a decrease in acquisition revenue, net of disposition revenue of 6.6%, and a decrease in revenue from the negative impact of foreign currency translation of 0.3%.
Omnicom’s organic growth increased across all its fundamental disciplines from Q4 2020 to Q4 2021, including 7.4% for Advertising, 19.6% for Precision Marketing, 12.4% for Commerce & Brand Consulting, 56.7% for Experiential, 5.2% for Execution & Support, 4.4% for Public Relations and 4.5% for Healthcare.
Additionally, the group experienced organic growth across their regional markets, including 7.8% for the United States, 1.8% for Other North America, 10.1% for the United Kingdom, 12.7% for the Euro Markets & Other Europe, 7.8% for Asia Pacific, 7.3% for Latin America and 48.1% for the Middle East & Africa.
Their operating expenses increased 2.9%, while their operating profit increased 1.3% to A$8.7 million (US$6.23 million) The group experienced an operating profit margin of 16.1%.
James Whitbread named country manager as Scibids launches in Australia
Scibids has launched in Australia and New Zealand with James Whitbread appointed as country manager.
Scibids AI supports strategic business outcomes for brands by building customizable algorithms for ad decisioning that doesn’t rely on user tracking and profiling to deliver immediate and measurable results that provide a long-lasting competitive advantage.
Scibids AI is enabled within leading Demand Side Platforms, helps unify the ad stack between planning and measurement, and delivers measurable ROI for a long-lasting competitive advantage. Scibids works across the digital marketing ecosystem, is used by thousands of brands, and embraced by their media agencies worldwide.
Whitbread has more than 17 years of media experience across various ad tech, digital and programmatic businesses including DoubleVerify and most recently at Flashtalking. In those roles Whitbread has been working with major brands and agencies plus collaborating with various DSP’s, SSP’s, and ad server partners. He will be joined by Mansi Garg who will take on the role of commercial director, ANZ. Garg, who spent many years with GroupM in Australia, was most recently working with Scibids in India.
The hiring of Whitbread and Garg comes at a time of quick expansion, with the recently announced the hiring of in-market teams in Japan as well as India. Rahul Vasudev, APAC MD of Scibids mentioned, “Australia is a market leader in adoption of new technology, and given the market dynamics around media costs, desire for transparency and talent, an Artificial Intelligence solution like Scibids is a perfect fit. We are excited to be able to officially launch in Australia and New Zealand with two highly passionate and experienced individuals like James and Mansi”.
Whitbread said of his appointment, “Both Mansi and I are very excited to be joining Scibids at such a crucial time for the company’s expansion globally and regionally. Scibids is a unique proposition in the fact that it removes the guesswork. Programmatic businesses get an upfront view of the likelihood of the AI improving their results. But in addition to improving media efficiency, Scibids brings a huge amount of automation benefits to the trading units as well. Given the shortage of Programmatic Traders in the AUNZ market, this brings massive efficiency to the operations as well”.
Television
Global distribution deal for John Ibrahim’s TV drama Last King of the Cross
The King of the Cross could soon be king of the world, with news John Ibrahim’s TV drama has been picked up by an international distributor, reports News Corp’s Jonathon Moran.
Cineflix Rights has teamed up with Sydney producer Mark Fennessy to bring Paramount+ true crime drama Last King of the Cross to the world.
It is inspired by Ibrahim’s 2017 autobiography of the same name, and will be written and directed by Kieran Darcy-Smith.
“We are thrilled to be partnering with Mark on Last King of The Cross — a truly authentic depiction of gangster life,” Cineflix Rights head of scripted content James Durie said.
“Based around classic themes of family bonds being tested, criminal empire-building, and corruption, which echo some of the most successful movies and TV shows of recent years, we believe it has huge potential with international audiences.”
MAFS criticised for racy content to build controversy
The subjects broached on Married At First Sight so far this season have raised eyebrows and drawn mixed reviews. Pegging, periods and the issue of race in relationships have all been aired this week, pushing some viewers to their limit, reports News Corp’s Jackie Epstein.
TV expert Colin Vickery said MAFS was proving popular again but the broad topics were a result of having to keep raising the bar.
“Some of that content a decade ago you couldn’t put on until 9.30pm,’’ he said.
“It’s one of those shows that’s always fed off controversy and racy content.
“The issue with the show in a sense is it has to keep upping its game.”
Hulu announces huge Futurama return with 20 new episodes
Fans of Matt Groening’s Futurama were caught off-guard on Thursday after streaming service Hulu announced the beloved animated sitcom would be returning to screens in 2023, reports News Corp’s Alex Blair.
The eighth season will see the return of a number of familiar voices, including Billy West (Fry) and Katey Sagal (Leela), along with ensemble actors who contributed voices for multiple characters like Tress MacNeille, Maurice LaMarche, Lauren Tom, and Phil LaMarr.
The return marks the fourth time the sci-fi/comedy show has been put under the defibrillator, with creators admitting they have wrapped up the show numerous times only for it to be resurrected again.
The last episode aired in September 2013 at the close of Season 7.
“It could be the little song that saved Neighbours”
Legendary singer Barry Crocker was thrilled to wake to the news yesterday that he had gone to the top of the UK charts, reports TV Tonight.
Aggrieved Neighbours fans had taken to social media to demonstrate their devotion through iTunes digital downloads. And it worked.
The 86 year old crooner had overtaken Ed Sheeran, Adele, and Liam Gallagher to nab top spot, creating unexpected headlines.
“It was fantastic. I was expecting another call of that time and the last person I thought would be calling me would be Peter Ford. But it was lovely news to wake up to,” he told TV Tonight.
“As the old saying goes, ‘Expect the unexpected!”