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Watch live: Senators GM Dorion addresses media following Tkachuk deal – Sportsnet.ca

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Editor’s note: Due to technical difficulties, this live stream has ended.

After a gruelling negotiation that took both parties to the very first day of their season, general manager Pierre Dorion and the Ottawa Senators have finally reached an agreement with Brady Tkachuk.

Dorion will address the media just hours after striking a seven-year, $57.5-million deal with their franchise cornerstone as the Senators get set to host the Toronto Maple Leafs for their season opener.

The entire media availability can be seen right here on Sportsnet.ca, starting at 5:00 p.m. ET on Thursday.

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Snap warning feeds concerns over social media ad splurge – BNN

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A warning from Snap Inc. is rattling technology investors who have got used to turbocharged growth in ad spending on social media. 

Executives from the maker of Snapchat said Thursday that supply-chain bottlenecks are prompting companies to hold back on online ad spend for the upcoming holiday season, meaning sales will rise by only around 30 per cent in the fourth quarter compared to analyst estimates of nearly 50 per cent. 

The comments took the market by surprise and set the company’s stock on course for its biggest ever decline. 

The announcement adds to growing concerns over whether the wall of money that’s been shifted from traditional marketing to social media in recent years is being well spent. 

Social media will account for 39 per cent of ad budgets next year, even though they will only represent 21 per cent of daily media consumption, according to a study from industry researcher WARC on Thursday. The discrepancy adds up to a gap of US$94 billion, it said.

It’s been getting harder to judge whether social media ad spend is really working because Apple Inc. and Alphabet Inc.’s Google are making it more difficult for advertisers to track consumers online. 

That also poses a risk to the revenues of Facebook Inc. and Twitter Inc. Shares in both companies dropped after the Snap announcement, reflecting concerns that some marketing budgets will simply be redirected from social media.  

Europe’s biggest ad agency networks WPP Plc and Publicis Groupe SA traded flat to slightly higher on Friday. 

There’s little sign that the broader transfer of advertising dollars to platforms like Instagram and TikTok will end soon, or that the global crisis in supply chains is leading brands to rethink their ad strategies.

Clients in consumer goods, retail, automotive and electronics “continue to spend, continue to shift spend to digital and there have been no instances of any pullbacks,” said Martin Sorrell, chairman of S4 Capital Plc. “The comments around supply chain issues simply don’t reflect what we are seeing. In fact, we are experiencing the opposite.”

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Steph Curry's 45-point performance against the Clippers caused a social media explosion – ESPN

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Playing against Stephen Curry just isn’t fair sometimes.

And the Los Angeles Clippers were the latest to suffer the Steph experience.

The Golden State Warriors‘ point guard made up for his self-assessed “trash” performance in Tuesday’s season opener against the Los Angeles Lakers. He dropped 45 points, grabbed 10 rebounds and made 8-of-13 shots from 3-point land in a close 115-114 victory over the Clippers in the Warriors’ home opener. Curry started the game perfectly — netting his first 10 shots of the contest. He never slowed down and carried the Warriors to an exciting victory.

As the two-time MVP was lighting up the Clippers, social media exploded, offering thoughts on what everyone just witnessed from Curry. It’s safe to say the point guard left many in awe with his sensational scoring night.

Even though Curry had a masterful performance, maybe the most important takeaway from Thursday’s game is that the Warriors are 2-0 on a young NBA season.

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Trump, barred from Twitter and Facebook, says he's launching his own social media site – CBC.ca

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Nine months after being expelled from social media for his role in inciting the Jan. 6 U.S. Capitol insurrection, former president Donald Trump said Wednesday he’s launching a new media company with its own social media platform.

Trump says his goal in launching the Trump Media & Technology Group (TMTG) and its “Truth Social” app is to create a rival to the big tech companies that have shut him out and denied him the megaphone that was paramount to his national rise.

“We live in a world where the Taliban has a huge presence on Twitter, yet your favourite American President has been silenced,” he said in a statement. “This is unacceptable.”

Conservative voices actually do well on traditional social media. On Wednesday, half of Facebook’s 10 top performing link posts were from conservative media, commentators or politicians, according to a daily list compiled by a New York Times technology columnist and an internet studies professor using Facebook’s own data.

TMTG talking big

Trump has spoken about launching his own social media site ever since he was barred from Twitter and Facebook. An earlier effort to launch a blog on his existing website was abandoned after the page drew dismal views.

TMTG has not set its sights low. In addition to the Truth Social app, which is expected to soft-launch next month with a nationwide rollout early next year, the company says it is planning a video-on-demand service dubbed TMTG+ that will feature entertainment programming, news and podcasts.

One slide in a TMTG presentation on its website includes a graphic of TMTG’s potential competitors, which range from Facebook and Twitter to Netflix and Disney+ to CNN. The same slide suggests that over the long term TMTG will also become a power in cloud computing and payments and suggests it will go head-to-head with Amazon, Microsoft, Google and Stripe.

TMTG also takes some jabs at Trump’s previous favourite social network. Slides accompanying the Truth Social preorders listing in Apple’s app store depict a social network that strongly resembles Twitter, right down to short messages and user handles preceded by “@” signs.

The same graphics also feature a user named Jack’s Beard, who in one image fumes when an employee pushes back on an order to delete a user and its posts, calling it “kinda an overreach.”

The Jack’s Beard account uses the handle @jack, which is the real Twitter handle of Jack Dorsey, Twitter’s CEO; Dorsey’s long scraggly beard has also drawn attention during his congressional appearances over Zoom.

Terms of service

The terms of service for Truth Social, meanwhile, bar users from annoying any of the site’s employees and from statements that “disparage, tarnish, or otherwise harm, in our opinion, us and/or the Site.” It was not immediately clear who the “us” in that statement refers to.

The suspended Twitter account of Donald Trump appears on an iPhone screen on Jan. 8 in San Anselmo, Calif. Citing the risk of incitement of violence following an attempted insurrection in January, Twitter permanently suspended Trump’s account. (Justin Sullivan/Getty Images)

In a release, the new venture announced it had been created through a merger with Digital World Acquisition Corp. (DWA), and said it seeks to become a publicly listed company.

DWA, based in Miami, is a special-purpose acquisition company, or SPAC. Such publicly traded companies are designed to list the shares of a private company more quickly than a traditional initial public offering.

In practice, that means the SPAC acquires a private firm and then changes its name and other details to those of the acquired firm.

Deal has initial value of $875M US

SPACs pay for their acquisitions with cash provided by investors who bought into the SPAC’s initial public offering. DWA’s Sept. 8 IPO raised $287.5 million US, according to a filing with the Securities and Exchange Commission.

DWA said it has raised roughly $293 million in cash, which it will use to grow TMTG’s ventures. Among the company’s biggest shareholders are several institutional investors, including Lighthouse Investment Partners, D. E. Shaw & Co., and Radcliffe Capital Management, according to an SEC filing. DWA said more details about the deal will be disclosed in upcoming filings.

The deal has an initial enterprise value, a measure that takes into account a company’s total debts and assets, of $875 million, according to the release. It still requires the approval of shareholders of both DWA and TMTG, as well as regulators.

Shares of Digital World Acquisition soared 94 per cent to $19.32 in morning trading.

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