Media

Media studios take centre stage in hybrid offices – The Globe and Mail

Published

3 years ago

November 30, 2021

Interior Design Director Brent Capron and his Perkins & Will team created this media zone for office at 1250 Broadway in New York.

I think you’re on mute. Can you hear me? Yes, but now you’ve turned off your camera.

This will sound all too familiar if you’ve connected to a virtual conference from home during the pandemic. And while increasing numbers of workers are returning to the office, the hybrid model seems destined to persist. That means making virtual meetings more seamless and professional has become a priority for organizations large and small, experts are finding.

“Each and every one of our clients is spending a disproportionate amount of the change budget for their office space in technology and video conferencing. And that’s across the board. They’re investing in making studios that are professional grade, everything from lighting to sound to background and branding,” says Stan Krawitz, vice-chairman, Canada, for global real estate company Savills.

“To ensure the success of hybrid teams in the workplace, the communication between in-office and remote needs to feel slick, not sticky, with the means for collaboration and presentation akin to a broadcast or media studio,” says Janine Grossmann, principal of corporate interiors and practice leader at Perkins & Will’s Toronto studio. In addition to growing interest in podcast studios, Perkins & Will is also working with a client planning to install an in-house photography studio.

The communication between in-office and remote needs to feel slick, not sticky, with the means for collaboration and presentation akin to a broadcast or media studio

— Janine Grossman, principal of corporate interiors at Perkin & Will Toronto

“This integration of new technology shouldn’t just be confined to conference or meeting rooms. Increasingly, our clients are looking for office infrastructure that’s flexible enough to support informal, impromptu meetings with team members out of the office,” she adds. “Part of this impetus is also about ensuring that remote employees still feel included and are not ‘left behind’ as a percentage of the work force returns to the physical environment.”

Working remotely doesn’t have to mean isolation

Annie Bergeron, design director and principal at architecture and design firm Gensler, says that an improved ability to meet remotely and still feel as though the meeting is in person is “one of the good things that can come out of COVID.”

“It will be a big change in every sense and hopefully all for the best.”

Broadcasting studios should try to provide a better and more equitable experience, she suggests.

“We work with many of the big tech companies, and they are all looking at investing in better audio and visual facilities to broadcast to a crowd that will continue to work asynchronous schedules,” Ms. Bergeron says.

She cites one of Gensler’s clients, Brain Station, a digital skills training program that delivered 100 per cent of their programs in person before the pandemic.

“They’ve brought us in to help them create studios for teaching staff to conduct live classes virtually.”

A media studio doesn’t need to be very large and can have dual functions, she adds. “One we are working on now is only about 400 square feet and can be used as a lounge when it’s not in use for productions. We have studio lighting in the ceiling and broadcast-quality cameras and a large green screen. We’re also adding a space on the side with good lighting for preparing the guests and doing makeup.”

The trend is moving into even the most traditional of organizations, says Matthew Kobylar, design director of Gensler Toronto. “Law firms had resisted this in the past because they’re very traditional and among the last to still have individual offices. But during the pandemic, lawyers had to work from home, and many found that they could be quite productive – so that genie’s out of the bottle.”

At the same time, courts all shut down, and with a backlog of cases, many are looking to virtual hearings, Mr. Kobylar adds. “They’re realizing they can clear cases faster and you don’t have to worry about having a large courtroom available on a certain date for every judge. It can give courts much more flexibility for scheduling cases, so you can have large courtrooms for in-person trials and smaller ones for virtual meetings in judge’s chambers.”

Gensler is working with law firms across Canada to develop digital hearing rooms. While still in beta stage, they are about 20 feet by 30 feet, with seating capable of accommodating an entire legal team.

Furniture is set up so it can be flexible, facing the judge’s screen at the front, with a second screen that displays evidence. There can also be a director to select feeds from different cameras, Mr. Kobylar says. To ensure confidentiality when needed, there is increased sound absorption and partitions and doors that have automatic drop seals to prevent sound leakage.

A lot of what tech companies were experimenting with before the pandemic is now being deployed for companies with people no longer tethered to one desk, says Bill Nankivell, chief executive officer of B+H Architects.

Level of equality

One of the challenges of hybrid workplaces is designing a level of equality for those who are on a TV screen, he says. The firm has developed a prototype in its Seattle and Toronto offices called Sandbox, a media room that measures about 550 square feet.

“It starts with seating arranged in a circle with no big board table in the middle,” Mr. Nankivell says. “Gathering in a circle is more egalitarian than a traditional boardroom layout, which many find intimidating.”

Gensler designed a mock courtroom studio for law firm Barlitt Beck in Chicago.

Cameras are arranged around the room. “In a meeting with video at the end of a long table, you can end up being a small head in the corner. You want your head to be as big as everyone else’s,” he explains.

The Toronto studio’s Sandbox is furnished with swivel chairs, benches and high-top stools for adding participants in larger meetings. “We don’t have fixed cameras; we can move cameras on tripods around depending on the configuration. Lighting in the ceiling is enhanced with ring lights, which provide more even lighting on faces.”

The Sandbox is designed for multiple uses including staff meetings, conferences with clients and gatherings after work. “Organizations that are moving to a hybrid model are still asking what has to happen in their physical built spaces to continue to justify the cost of keeping them. They need to know they’re getting the most value out of the investment,” Mr. Nankivell says.

But professional media presence is destined to provide immediate payoff in a competitive advantage, Mr. Kobylar notes. Whether it’s a merger and acquisition in the corporate world or litigation in the legal world, the result will fine-tune appearance and presentation, he says.

“Even if it is 5 per cent better digital experience coming from your team, it’s going to make a difference to whether your case is heard more favourably than the one another team is making.”

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Media

Trump could cash out his DJT stock within weeks. Here’s what happens if he sells

Published

3 weeks ago

August 23, 2024

Harry Miller

Former President Donald Trump is on the brink of a significant financial decision that could have far-reaching implications for both his personal wealth and the future of his fledgling social media company, Trump Media & Technology Group (TMTG). As the lockup period on his shares in TMTG, which owns Truth Social, nears its end, Trump could soon be free to sell his substantial stake in the company. However, the potential payday, which makes up a large portion of his net worth, comes with considerable risks for Trump and his supporters.

Trump’s stake in TMTG comprises nearly 59% of the company, amounting to 114,750,000 shares. As of now, this holding is valued at approximately $2.6 billion. These shares are currently under a lockup agreement, a common feature of initial public offerings (IPOs), designed to prevent company insiders from immediately selling their shares and potentially destabilizing the stock. The lockup, which began after TMTG’s merger with a special purpose acquisition company (SPAC), is set to expire on September 25, though it could end earlier if certain conditions are met.

Should Trump decide to sell his shares after the lockup expires, the market could respond in unpredictable ways. The sale of a substantial number of shares by a major stakeholder like Trump could flood the market, potentially driving down the stock price. Daniel Bradley, a finance professor at the University of South Florida, suggests that the market might react negatively to such a large sale, particularly if there aren’t enough buyers to absorb the supply. This could lead to a sharp decline in the stock’s value, impacting both Trump’s personal wealth and the company’s market standing.

Moreover, Trump’s involvement in Truth Social has been a key driver of investor interest. The platform, marketed as a free speech alternative to mainstream social media, has attracted a loyal user base largely due to Trump’s presence. If Trump were to sell his stake, it might signal a lack of confidence in the company, potentially shaking investor confidence and further depressing the stock price.

Trump’s decision is also influenced by his ongoing legal battles, which have already cost him over $100 million in legal fees. Selling his shares could provide a significant financial boost, helping him cover these mounting expenses. However, this move could also have political ramifications, especially as he continues his bid for the Republican nomination in the 2024 presidential race.

Trump Media’s success is closely tied to Trump’s political fortunes. The company’s stock has shown volatility in response to developments in the presidential race, with Trump’s chances of winning having a direct impact on the stock’s value. If Trump sells his stake, it could be interpreted as a lack of confidence in his own political future, potentially undermining both his campaign and the company’s prospects.

Truth Social, the flagship product of TMTG, has faced challenges in generating traffic and advertising revenue, especially compared to established social media giants like X (formerly Twitter) and Facebook. Despite this, the company’s valuation has remained high, fueled by investor speculation on Trump’s political future. If Trump remains in the race and manages to secure the presidency, the value of his shares could increase. Conversely, any missteps on the campaign trail could have the opposite effect, further destabilizing the stock.

As the lockup period comes to an end, Trump faces a critical decision that could shape the future of both his personal finances and Truth Social. Whether he chooses to hold onto his shares or cash out, the outcome will likely have significant consequences for the company, its investors, and Trump’s political aspirations.

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Arizona man accused of social media threats to Trump is arrested

Published

3 weeks ago

August 23, 2024

Harry Miller

Cochise County, AZ — Law enforcement officials in Arizona have apprehended Ronald Lee Syvrud, a 66-year-old resident of Cochise County, after a manhunt was launched following alleged death threats he made against former President Donald Trump. The threats reportedly surfaced in social media posts over the past two weeks, as Trump visited the US-Mexico border in Cochise County on Thursday.

Syvrud, who hails from Benson, Arizona, located about 50 miles southeast of Tucson, was captured by the Cochise County Sheriff’s Office on Thursday afternoon. The Sheriff’s Office confirmed his arrest, stating, “This subject has been taken into custody without incident.”

In addition to the alleged threats against Trump, Syvrud is wanted for multiple offences, including failure to register as a sex offender. He also faces several warrants in both Wisconsin and Arizona, including charges for driving under the influence and a felony hit-and-run.

The timing of the arrest coincided with Trump’s visit to Cochise County, where he toured the US-Mexico border. During his visit, Trump addressed the ongoing border issues and criticized his political rival, Democratic presidential nominee Kamala Harris, for what he described as lax immigration policies. When asked by reporters about the ongoing manhunt for Syvrud, Trump responded, “No, I have not heard that, but I am not that surprised and the reason is because I want to do things that are very bad for the bad guys.”

This incident marks the latest in a series of threats against political figures during the current election cycle. Just earlier this month, a 66-year-old Virginia man was arrested on suspicion of making death threats against Vice President Kamala Harris and other public officials.

Media

Trump Media & Technology Group Faces Declining Stock Amid Financial Struggles and Increased Competition

Published

3 weeks ago

August 20, 2024

Harry Miller

Trump Media & Technology Group’s stock has taken a significant hit, dropping more than 11% this week following a disappointing earnings report and the return of former U.S. President Donald Trump to the rival social media platform X, formerly known as Twitter. This decline is part of a broader downward trend for the parent company of Truth Social, with the stock plummeting nearly 43% since mid-July. Despite the sharp decline, some investors remain unfazed, expressing continued optimism for the company’s financial future or standing by their investment as a show of political support for Trump.

One such investor, Todd Schlanger, an interior designer from West Palm Beach, explained his commitment to the stock, stating, “I’m a Republican, so I supported him. When I found out about the stock, I got involved because I support the company and believe in free speech.” Schlanger, who owns around 1,000 shares, is a regular user of Truth Social and is excited about the company’s future, particularly its plans to expand its streaming services. He believes Truth Social has the potential to be as strong as Facebook or X, despite the stock’s recent struggles.

However, Truth Social’s stock performance is deeply tied to Trump’s political influence and the company’s ability to generate sustainable revenue, which has proven challenging. An earnings report released last Friday showed the company lost over $16 million in the three-month period ending in June. Revenue dropped by 30%, down to approximately $836,000 compared to $1.2 million during the same period last year.

In response to the earnings report, Truth Social CEO Devin Nunes emphasized the company’s strong cash position, highlighting $344 million in cash reserves and no debt. He also reiterated the company’s commitment to free speech, stating, “From the beginning, it was our intention to make Truth Social an impenetrable beachhead of free speech, and by taking extraordinary steps to minimize our reliance on Big Tech, that is exactly what we are doing.”

Despite these assurances, investors reacted negatively to the quarterly report, leading to a steep drop in stock price. The situation was further complicated by Trump’s return to X, where he posted for the first time in a year. Trump’s exclusivity agreement with Trump Media & Technology Group mandates that he posts personal content first on Truth Social. However, he is allowed to make politically related posts on other social media platforms, which he did earlier this week, potentially drawing users away from Truth Social.

For investors like Teri Lynn Roberson, who purchased shares near the company’s peak after it went public in March, the decline in stock value has been disheartening. However, Roberson remains unbothered by the poor performance, saying her investment was more about supporting Trump than making money. “I’m way at a loss, but I am OK with that. I am just watching it for fun,” Roberson said, adding that she sees Trump’s return to X as a positive move that could expand his reach beyond Truth Social’s “echo chamber.”

The stock’s performance holds significant financial implications for Trump himself, as he owns a 65% stake in Trump Media & Technology Group. According to Fortune, this stake represents a substantial portion of his net worth, which could be vulnerable if the company continues to struggle financially.

Analysts have described Truth Social as a “meme stock,” similar to companies like GameStop and AMC that saw their stock prices driven by ideological investments rather than business fundamentals. Tyler Richey, an analyst at Sevens Report Research, noted that the stock has ebbed and flowed based on sentiment toward Trump. He pointed out that the recent decline coincided with the rise of U.S. Vice President Kamala Harris as the Democratic presidential nominee, which may have dampened perceptions of Trump’s 2024 election prospects.

Jay Ritter, a finance professor at the University of Florida, offered a grim long-term outlook for Truth Social, suggesting that the stock would likely remain volatile, but with an overall downward trend. “What’s lacking for the true believer in the company story is, ‘OK, where is the business strategy that will be generating revenue?'” Ritter said, highlighting the company’s struggle to produce a sustainable business model.

Still, for some investors, like Michael Rogers, a masonry company owner in North Carolina, their support for Trump Media & Technology Group is unwavering. Rogers, who owns over 10,000 shares, said he invested in the company both as a show of support for Trump and because of his belief in the company’s financial future. Despite concerns about the company’s revenue challenges, Rogers expressed confidence in the business, stating, “I’m in it for the long haul.”

Not all investors are as confident. Mitchell Standley, who made a significant return on his investment earlier this year by capitalizing on the hype surrounding Trump Media’s planned merger with Digital World Acquisition Corporation, has since moved on. “It was basically just a pump and dump,” Standley told ABC News. “I knew that once they merged, all of his supporters were going to dump a bunch of money into it and buy it up.” Now, Standley is staying away from the company, citing the lack of business fundamentals as the reason for his exit.

Truth Social’s future remains uncertain as it continues to struggle with financial losses and faces stiff competition from established social media platforms. While its user base and investor sentiment are bolstered by Trump’s political following, the company’s long-term viability will depend on its ability to create a sustainable revenue stream and maintain relevance in a crowded digital landscape.

As the company seeks to stabilize, the question remains whether its appeal to Trump’s supporters can translate into financial success or whether it will remain a volatile stock driven more by ideology than business fundamentals.