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No-money options. Ad-supported “free” streaming platforms are among the fastest-growing providers according to the latest research from PCH Insights. Tubi, Roku Channel, and Pluto TV appear to be reaching critical mass among viewers 18-44, joining YouTube in the mix of their free video diet, and all more popular than notable paid services like AppleTV+, ESPN+ and Discovery+.
Less-money options. More CMOs are facing falling budgets due to inflation, according to The CMO Survey. Over 50% of CMOs are now reporting decreased marketing spend levels, with B2B product companies being the most affected. CMOs view financial/marketing instability/inflation as the biggest challenge ahead.
Big-money options. Music phenoms, Taylor Swift and Beyoncé are in line to potentially be the first to crack the billion-dollar tour mark in 2023. Swift is estimated to be making about $10 million per night on her Eras tour. Current record-holder for tour take is Elton John with $800 million from his still-ongoing Yellow Brick Road tour.
Streaming Notes
Slings and arrows. Streamer Sling is building its Freestream ad-supported channel lineup as it struggles to add subscribers to its pay option. The lineup for Freestream now includes nearly 250 channels and about 41,000 on-demand options.
Stranger-er things? Netflix is building out some of its most valuable IP property. The streamer has ordered an animated series set in the world of Stranger Things. Details are limited, but the brains behind the original Stranger things are reportedly thrilled over “an animated ‘Stranger Things’ in the vein of the Saturday morning cartoons that we grew up loving.”
Stepping out of the stream. Both Apple and Amazon have each made a commitment to a full schedule of movies for theatrical release. In a move sure to make theater-owners happy, the big-time streamers’ goal is to better the odds of their movies being nominated for Academy Awards.
Can’t we call it WarnDiscMaxBo? Warner Bros Discovery has confirmed that they’re ditching the “HBO” and going to the simplified handle of “Max” for their combined streaming product. The combined HBOMax and Discovery+ libraries go live as Max on May 23rd.
Of course they want to tax it. Lawmakers, always on the hunt for money, are looking at the success of streaming services as a potential source of more tax revenue. New legislation is currently being drafted in the U.S. and Canada and other nations are looking on hungrily as well.
Tastemakers?
Sweet or sour? Sitting at the crossroads of Pinterest and Instagram, Lemon8 is the latest emerging social media app to cross smartphones in the US. As a sister brand of TikTok, the app uses the same algorithm to bring “beautiful, authentic, and diverse” content to its users. Though marketers are interested, many are waiting to ensure scalability and understand its momentum.
Flavor Make It. Big brands have a big interest back in the movie theaters. Specifically, AMC and Coca-Cola have partnered to launch a promotion to lure Gen Z back into theaters. Named “Flavor Make It” the campaign promotes low-priced snacks with quirky video and an original track inspired by TikTok trends.
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