Media and Money

Posts Tagged ‘Hulu

AP reports advertising forecaster, Magna, predicts that the worst is over for the U.S. ad slump but that across-the-board revenue growth won’t resume until well into 2011.

Magna, a unit of the Interpublic Group of Cos., estimated second-quarter ad revenue fell by 18 percent and said revenue will fall 14.5 percent for the year — the worst showing since the Great Depression.

“The economy accounts for the bulk of that decline,” said Brian Wieser, Magna’s global director of forecasting. “Every sector is being pulled down by this decline, every media that takes ad support.”
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Redbox1With more subscribers choosing DVD-by-mail service, Netflix Inc. is one of the few companies to prosper during the worst U.S. recession in 70 years. However, Netflix CEO Reed Hastings still has something to worry about: an even cheaper DVD rental service run by one of his former lieutenants.

Redbox has emerged as the largest operator of DVD-rental kiosks, with more than 15,400 vending machines set up to dispense $1-per-day discs in supermarkets and discount stores.

I remember when I first saw a Redbox machine outside of a McDonald’s. I thought, “boy, these guys will put anything, anywhere just to get a quick buck.” This is exactly what Redbox had in mind.

According to AP reports
, Redbox opens an average of one kiosk per hour to lure budget-conscious consumers, Hastings is concerned that this upstart might upstage Netflix, whose cheapest mail-order plan costs $5 for two movie rentals in a month.
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