Media

We need levelling up, not sucking up

Published

1 year ago

June 5, 2023

How much does a journalist need to understand about the subject matter they’re writing about?

I’ve been a journalist for 15 years now and this question has rattled around my brain at every turn. How much specialist knowledge is required to do a story justice? How little knowledge can I “get away with” in order to give my audience what they need to know in a palatable way?

The answer, in my experience, is not a simple one. Sometimes “less is more”. You wouldn’t believe how many articles I’ve edited over the last few years, from colleagues and external writers, which are overly detailed, too technical, and bursting with “look how much I know” vibes. Sometimes our industry benefits from generalists who can look at specialist areas with fresh eyes and perspectives from other walks of life.

As usual, the optimal outcome is likely one which promotes as much diversity as possible. Which is why The Media Leader has spent the last few months building our editorial team of journalists to provide insightful and useful content every day on our site and newsletter, but also to inform the array of conferences we host. We don’t claim to be experts, but we do draw on our impressive industry columnists who have “been there and done it” in various areas of media and advertising.

With great growth comes great responsibility

Here’s a dirty secret for you: often journalists don’t really understand what they’re writing about. Many will develop an ability to accurately report what they are told (one step removed from stenography) and others still will develop a good sense to draw on authoritative sources.

One case in point is industry analyst and ex-WPP research lead Brian Wieser, whose latest Madison and Wall newsletter revealed analysis showing that “media agencies were responsible for nearly two-thirds of large agency group growth over the last decade”.

I don’t know how Wieser has come to this conclusion but, having read his work over many years, I take his analysis seriously and feel confident enough to pass it on as useful and authoritative. He estimates that WPP, Publicis Media, Omnicom, IPG and Dentsu (outside of Japan) relied on media agencies for 30% of their revenue in 2022, up from 20% in 2012.

We generally talk about “ad agencies” in our industry, but is that what these businesses are, really, anymore? If the bulk of your business is media-buying, you’re mostly a media-buying company.

‘Hi, I’m a chartered media planner’

And yet, despite media being so important to advertising, sometimes you wonder whether a lack of understanding is plaguing the very people who plan and buy media at agencies, or the advertisers who oversee substantial marketing budgets which go towards media spend.

I was intrigued by a recent blog post by Brian Jacobs, the Crater Lake & Co founder and former international media director at Leo Burnett (when an “ad agency” used to plan and buy media — imagine!)

He suggests we should seek to “kitemark” media planning and buying, or encourage practitioners to prove their proficiency by taking some sort of qualification.

Jacobs argues: “[F]inancial advisors have to take regular exams to update and keep their qualifications. Why aren’t agency media people responsible for investing large sums of money subject to the same scrutiny?”

So I asked Jacobs, what makes you think they need this sort of scrutiny? Some of what I heard was frankly disturbing.

“I hear it all the time when advising on media pitches. Agency people presenting from a script using words and phrases they don’t actually understand, or quoting from studies with which they’re not familiar. The look of panic when you ask them to explain the background from which they’ve drawn their conclusions. The lengths to which they’ll go to avoid answering a question of understanding, instead answering a quite different question to which they happen to know the answer.”

Jacobs may be overlooking how intimidating he is; perhaps these poor agency planners have stagefright in front of someone who literally wrote the book on how to spend advertiser’s money (albeit nearly 40 years ago).

But I’ve heard much the same before anecdotally. There was a network agency strategist expressing frustration recently over junior planners who “accept TGI recommendations without adopting common sense… not unlike driving around with a Sat Nav and misunderstanding it so badly you drive off a cliff.”

My understanding is that the pandemic has worsened this understanding gap. Agencies cut costs too quickly in 2020 and rehired too quickly again during the recovery, with many junior people promoted too swiftly.

MediaSense’s Media’s Got Talent? survey last summer also warned that a majority of people in this industry complain of “over-specialisation” as a limit to their career progression. I’ll repeat: sometimes “less is more”. Over-specialisation is almost as bad as a lack of knowledge — you become so adept at doing one thing that you can’t relate it to how it’s good for all the other things which matter too.

Avoiding a Waystar endgame

Perhaps Jacobs is right and it’s time to create a new gold standard qualification for media planners and buyers to show they actually know what they’re talking about when it comes to media and advertising generally, not just small bits of it.

I’m particularly interested in hearing readers’ views on this, privately or publicly. The Media Leader and our parent group Adwanted is actively looking at how we can provide more education and training tools for the industry. We journalists might just learn something, too.

Because if we don’t encourage a culture of learning and achievement to succeed in media, all we’re left with are a collection of businesses resembling Succession’s Waystar Royco — a nest of viperish and sharp-elbowed sycophants climbing over each other for personal advancement.

Media, as Wieser has shown, has become too economically important for that. We need levelling up, not sucking up.

(But then again, look at this remarkably prescient piece on the importance of generalists from 2011 from one Greg Grimmer, who very coincidentally happens to be my CEO…)

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Media

What to stream this weekend: ‘Civil War,’ Snow Patrol, ‘How to Die Alone,’ ‘Tulsa King’ and ‘Uglies’

Published

24 hours ago

September 13, 2024

Anne Joseph

Hallmark launching a streaming service with two new original series, and Bill Skarsgård out for revenge in “Boy Kills World” are some of the new television, films, music and games headed to a device near you.

Also among the streaming offerings worth your time as selected by The Associated Press’ entertainment journalists: Alex Garland’s “Civil War” starring Kirsten Dunst, Natasha Rothwell’s heartfelt comedy for Hulu called “How to Die Alone” and Sylvester Stallone’s second season of “Tulsa King” debuts.

NEW MOVIES TO STREAM SEPT. 9-15

— Alex Garland’s “Civil War” is finally making its debut on MAX on Friday. The film stars Kirsten Dunst as a veteran photojournalist covering a violent war that’s divided America; She reluctantly allows an aspiring photographer, played by Cailee Spaeny, to tag along as she, an editor (Stephen McKinley Henderson) and a reporter (Wagner Moura) make the dangerous journey to Washington, D.C., to interview the president (Nick Offerman), a blustery, rising despot who has given himself a third term, taken to attacking his citizens and shut himself off from the press. In my review, I called it a bellowing and haunting experience; Smart and thought-provoking with great performances. It’s well worth a watch.

— Joey King stars in Netflix’s adaptation of Scott Westerfeld’s “Uglies,” about a future society in which everyone is required to have beautifying cosmetic surgery at age 16. Streaming on Friday, McG directed the film, in which King’s character inadvertently finds herself in the midst of an uprising against the status quo. “Outer Banks” star Chase Stokes plays King’s best friend.

— Bill Skarsgård is out for revenge against the woman (Famke Janssen) who killed his family in “Boy Kills World,” coming to Hulu on Friday. Moritz Mohr directed the ultra-violent film, of which Variety critic Owen Gleiberman wrote: “It’s a depraved vision, yet I got caught up in its kick-ass revenge-horror pizzazz, its disreputable commitment to what it was doing.”

— AP Film Writer Lindsey Bahr

NEW MUSIC TO STREAM SEPT. 9-15

— The year was 2006. Snow Patrol, the Northern Irish-Scottish alternative rock band, released an album, “Eyes Open,” producing the biggest hit of their career: “Chasing Cars.” A lot has happened in the time since — three, soon to be four quality full-length albums, to be exact. On Friday, the band will release “The Forest Is the Path,” their first new album in seven years. Anthemic pop-rock is the name of the game across songs of love and loss, like “All,”“The Beginning” and “This Is the Sound Of Your Voice.”

— For fans of raucous guitar music, Jordan Peele’s 2022 sci-fi thriller, “NOPE,” provided a surprising, if tiny, thrill. One of the leads, Emerald “Em” Haywood portrayed by Keke Palmer, rocks a Jesus Lizard shirt. (Also featured through the film: Rage Against the Machine, Wipers, Mr Bungle, Butthole Surfers and Earth band shirts.) The Austin noise rock band are a less than obvious pick, having been signed to the legendary Touch and Go Records and having stopped releasing new albums in 1998. That changes on Friday the 13th, when “Rack” arrives. And for those curious: The Jesus Lizard’s intensity never went away.

— AP Music Writer Maria Sherman

NEW SHOWS TO STREAM SEPT. 9-15

— Hallmark launched a streaming service called Hallmark+ on Tuesday with two new original series, the scripted drama “The Chicken Sisters” and unscripted series “Celebrations with Lacey Chabert.” If you’re a Hallmark holiday movies fan, you know Chabert. She’s starred in more than 30 of their films and many are holiday themed. Off camera, Chabert has a passion for throwing parties and entertaining. In “Celebrations,” deserving people are surprised with a bash in their honor — planned with Chabert’s help. “The Chicken Sisters” stars Schuyler Fisk, Wendie Malick and Lea Thompson in a show about employees at rival chicken restaurants in a small town. The eight-episode series is based on a novel of the same name.

— Natasha Rothwell of “Insecure” and “The White Lotus” fame created and stars in a new heartfelt comedy for Hulu called “How to Die Alone.” She plays Mel, a broke, go-along-to-get-along, single, airport employee who, after a near-death experience, makes the conscious decision to take risks and pursue her dreams. Rothwell has been working on the series for the past eight years and described it to The AP as “the most vulnerable piece of art I’ve ever put into the world.” Like Mel, Rothwell had to learn to bet on herself to make the show she wanted to make. “In the Venn diagram of me and Mel, there’s significant overlap,” said Rothwell. It premieres Friday on Hulu.

— Shailene Woodley, DeWanda Wise and Betty Gilpin star in a new drama for Starz called “Three Women,” about entrepreneur Sloane, homemaker Lina and student Maggie who are each stepping into their power and making life-changing decisions. They’re interviewed by a writer named Gia (Woodley.) The series is based on a 2019 best-selling book of the same name by Lisa Taddeo. “Three Women” premieres Friday on Starz.

— Sylvester Stallone’s second season of “Tulsa King” debuts Sunday on Paramount+. Stallone plays Dwight Manfredi, a mafia boss who was recently released from prison after serving 25 years. He’s sent to Tulsa to set up a new crime syndicate. The series is created by Taylor Sheridan of “Yellowstone” fame.

— Alicia Rancilio

NEW VIDEO GAMES TO PLAY

— One thing about the title of Focus Entertainment’s Warhammer 40,000: Space Marine 2 — you know exactly what you’re in for. You are Demetrian Titus, a genetically enhanced brute sent into battle against the Tyranids, an insectoid species with an insatiable craving for human flesh. You have a rocket-powered suit of armor and an arsenal of ridiculous weapons like the “Chainsword,” the “Thunderhammer” and the “Melta Rifle,” so what could go wrong? Besides the squishy single-player mode, there are cooperative missions and six-vs.-six free-for-alls. You can suit up now on PlayStation 5, Xbox X/S or PC.

— Likewise, Wild Bastards isn’t exactly the kind of title that’s going to attract fans of, say, Animal Crossing. It’s another sci-fi shooter, but the protagonists are a gang of 13 varmints — aliens and androids included — who are on the run from the law. Each outlaw has a distinctive set of weapons and special powers: Sarge, for example, is a robot with horse genes, while Billy the Squid is … well, you get the idea. Australian studio Blue Manchu developed the 2019 cult hit Void Bastards, and this Wild-West-in-space spinoff has the same snarky humor and vibrant, neon-drenched cartoon look. Saddle up on PlayStation 5, Xbox X/S, Nintendo Switch or PC.

— Lou Kesten

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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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Media

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.