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Elon
Musk’s X Files Antitrust Suit Against Global
Advertising Alliance
August
6, 2024
Elon
Musk’s social media platform X has launched a
significant antitrust lawsuit against the Global Alliance
for Responsible Media (GARM) and several of its member
companies, alleging an illegal ad boycott that targeted
the platform. The lawsuit, filed in Texas, is aimed
at GARM, its parent firm World Federation of Advertisers
(WFA), and members including CVS Health, Mars, Orsted
and Unilever.
In
an open letter to advertisers, X CEO Linda Yaccarino
highlighted the reasons behind the lawsuit, stating
that it was a direct response to GARM’s actions
which allegedly cost the company billions of dollars.
“This is not a decision we took lightly, but
it is a direct consequence of their actions,”
Yaccarino wrote. “The illegal behavior of these
organizations and their executives cost X billions
of dollars” per The New York Post.
The
lawsuit is seeking trebled compensatory damages and
injunctive relief, according to a complaint viewed
by The New York Post. GARM, led by Robert Rakowitz,
is an initiative of the WFA, which represents many
of the world’s largest companies and ad organizations,
including Disney and Coca-Cola. Its members control
90% of global marketing spending, nearly $1 trillion
per year.
Yaccarino
emphasized that the issue extends beyond financial
damages. “This case is about more than damages
— we have to fix a broken ecosystem that allows
this illegal activity to occur,” she added.
According
to The New York Post, the suit argues that the boycott
undermined the marketplace of ideas by financially
harming certain viewpoints over others. (Credit: PYMNTS)
Full
article and coverage via PYMNTS
https://pymnts.com/cpi-posts/elon-musks-x-files-antitrust-suit-against-global-advertising-alliance/
PYMNTS
is a former Media Man 'Business News Outlet Of The
Month' award winner and finalist
News
Elon
Musk takes GARM, several companies to court over alleged
advertising boycott of X outlined in bombshell report
August
7, 2024
Tech
billionaire Elon Musk has taken several companies
and an advertising alliance to court over allegations
of a "boycott" of X.
Elon
Musk has waged “war” against advertisers
as his social media platform X filed an antitrust
lawsuit against a global ad alliance and several major
companies, accusing them of illegally boycotting the
site.
X
filed a suit in a federal court in Texas against the
World Federation of Advertisers (WFA), the Global
Alliance for Responsible Media (GARM) and its members
CVS Health, Mars, Orsted and Unilever.
The
suit comes after a report from the US House of Representatives
Judiciary Committee found GARM and its members “directly
organised boycotts” and employed other indirect
tactics to target disfavoured “platforms, content
creators” and news organisations to demonetise
them.
It
alleges that GARM’s boycott led advertisers to
pull money from X under the guise of “brand safety”
concerns.
X’s
CEO Linda Yaccarino argued this tactic hindered users
on the social media platform from accessing a wide
breadth of ideas by funding alternative viewpoints.
“The
consequence - perhaps the intent - of this boycott
was to seek to deprive X’s users, be they sports
fans, gamers, journalists, activists, parents or political
and corporate leaders, of the Global Town Square,”
she wrote.
“To
put it simply, people are hurt when the marketplace
of ideas is undermined and some viewpoints are not
funded over others as part of an illegal boycott.”
Mr
Musk shared his colleague’s statement to the
platform and boldly declared: “We tried peace
for 2 years, now it is war.”
He
later encouraged “any company who has been systematically
boycotted” to file a suit.
Following
his post, video sharing platform Rumble joined Mr
Musk’s lawsuit, claiming it has also been impacted
towards GARM’s alleged skew away from right wing
voices and ideologies.
The
platform announced its move on X where it accused
GARM of being “a conspiracy to perpetrate an
advertiser boycott of Rumble and others, and that's
illegal”.
Since
Musk took over the social media platform in October
2022, X has suffered a serious dive in ad dollars
with the platform taking in US$2.5 billion in 2023,
according to Bloomberg.
This
was down from the US$1bn it was bringing in every
quarter of 2022.
Musk
triggered controversy again in November 2023 when
he endorsed an anti-Semitic conspiracy theory that
Jewish communities push “hatred against whites”.
The
X owner responded: “You have said the actual
truth,” sparking an advertiser exodus that was
reported to have lost the company as much as $75m,
per The New York Times.
He
made headlines again in the same month after blasting
advertisers boycotting the social media platform,
boldly declaring: “Go f**k yourself”.
“If
somebody is going to try to blackmail me with advertising,
blackmail me with money, go f**k yourself. Go f**k
yourself. Is that clear? I hope it is,” he said.
(Sky News Australia)
Full
article and coverage via Sky News Australia
https://www.skynews.com.au/business/media/elon-musk-takes-garm-several-companies-to-court-over-alleged-advertising-boycott-of-x-outlined-in-bombshell-report/news-story/7bac6243aada770042d14ca84afc23e7
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Yahoo
Finance wins Media Man 'Business News Outlet Of
The Month' award
PYMNTS
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Market,
Commodities and Financial News Snapshot via Media
Man
August
7, 2024
Australian
Dollar: $0.6520 USD (up $0.0024 USD)
Iron
Ore Sep Spot Price (SGX): $102.85 USD (down $0.70
USD)
Oil
Price (WTI): $72.96 USD (down $1.02 USD)
Gold
Price: $2,389.45 USD (down $19.96 USD)
Copper
Price (CME): $4.0095 USD (up $0.0085 USD)
Bitcoin:
$56,485.71 USD (up 3.10% in last 24 hours)
Dow
Jones: 38,997.66 at 5.02pm NY time (up 294.39 points
on yesterday's close)
(Roy
Morgan Summary)
News
News.com.au
holds number one news traffic ranking in April for
fourth consecutive month - May 22, 2023
News.com.au
has retained the number one news website traffic ranking
for the fourth month in a row, reaching 12.71 million
Australians in April.
The
latest Ipsos Iris report showed the news website has
resolidified its market-leading stance, although there
was a three per cent dip month-on-month in unique
audience. Average time on site per person, sitting
at 29 minutes and 55 seconds, also slipped modestly
compared to March.
Oliver
Murray, news.com.au editor, pointed out April was
a month when many should’ve switched off to enjoy
Easter and the school holidays.
“It’s
testament to our team that we kept serving up news
they needed to read,” he said.
That
content offering drew in the largest and most engaged
audience in the news category, he pointed out –
six in 10 online Australians.
“We
saw a 17 per cent month-on-month increase in our sports
audience to become the number one sports brand, driven
by our NRL and AFL coverage,” Murray said.
“Australians
also turned to us for travel news, reaching an audience
of 2.541 million and leading the travel news category.”
The
gap between news.com.au and rival ABC News, sitting
in second spot, is sizeable. The national broadcaster’s
web offering attracted the eyeballs of 11.14 million
Aussies.
Rounding
out the top five was nine.com.au with 10.73 million
unique viewers, 7news.com.au on 10.06 million, and
Daily Mail Australia on 8.35 million.
The
Ipsos Iris report found 20.2 million people used a
news website or app in April, with engagement increasing
by 1.2% to almost six hours per person, per month.
Major
news events ranging from the death of comedian Barry
Humphries to the arrest of former US President Donald
Trump and the federal budget helped fuel the increase,
it said.
The
report called out travel-related browsing in the month,
given Easter and the school holidays, with 16.9 million
Aussies aged 14 and above visiting a travel website
or app in April.
Those
in the 55-plus age bracket spent the most time browsing
– 33% more than those under 55 – while women
were more likely to use travel sites and apps than
men. People aged 25 to 39 are the largest cohort engaging
with travel content online.
(News.com.au)
News
Sydney
Morning Herald is the country’s best-read masthead
May 22, 2023
The
Sydney Morning Herald has retained its position
as Australia’s top masthead, with more readers
across all platforms than any other over the 12 months
to March this year.
Total
News figures from the industry’s official data
provider, Roy Morgan, showed 7.7 million people, or
about one in three Australians, read the masthead.
It puts the Herald ahead of its traditional NSW rival,
the News Corp-owned Daily Telegraph, which has 3.98
million readers.
The
Herald’s sister paper, The Age, cemented its
place as the most-read Victorian masthead with 5.2
million readers, and the outlets’ Good Weekend
magazine was the premier Saturday insert. It had an
average print readership of 754,000 people, up 4 per
cent for the quarter.
Print
was a particular bright spot for this masthead, with
the Monday to Friday newspaper recording 17 per cent
growth year over year and quarterly growth of 4 per
cent, taking its average readership per edition to
417,000. It marks the sixth consecutive quarter of
growth for the physical newspaper, while the Sun Herald’s
Sunday print edition was steady, up 1 per cent, to
a readership of 423,000. In the last four weeks, an
average of almost 1.9 million people read the printed
paper.
The
Herald and Age’s Good Food and Traveller titles
had audiences of 1.49 million and 1.56 million, respectively,
each month. Sunday Life had an average issue print
readership of 419,000, and Domain defied a softening
real estate market, seeing annual growth of 7 per
cent and quarterly growth of 5 per cent, to record
an average issue print readership of 537,000.
“I
am proud of our team for achieving such a strong result,
particularly given the challenging environment all
publishers are finding themselves in right now,”
Herald editor Bevan Shields said.
“The
Herald continues to set the benchmark for quality
journalism in Australia and I want to thank our subscribers
and readers for their continued support for what we
do.”
Roy
Morgan’s data covers all news brands and digital
news websites and tracks audiences on Apple News and
Google News.
(The
Sydney Morning Herald)
News
Financial
Review most-read business masthead. By Sam Buckingham-Jones
- May 22, 2023
The
Australian Financial Review is the country’s
most-read premium business masthead, reaching a print
and digital audience of 3.5 million people, figures
released by Roy Morgan show.
More
than 1.1 million people read the print edition of
the Financial Review over the past four weeks, and
the masthead reported its third consecutive quarter
of growth and a year-on-year increase of 6 per cent.
The Australian suffered an annual drop of 17 per cent
in print readership for the same period.
The
Financial Review’s combined print and digital
audience fell slightly from last quarter, from 3.6
million to 3.5 million, but the decline was smaller
than rivals.
The
AFR Weekend print edition readership grew 59 per cent,
on the Roy Morgan figures, and 11 per cent in the
last quarter. The weekend and weekday print editions
have recorded their highest quarterly result since
2018.
The
Australian Financial Review Magazine recorded a print
readership of 481,000, after quarter-on-quarter growth
of 12 per cent and annual growth of 14 per cent. This
is AFR Magazine’s highest quarterly result since
2018.
“After
the hit from COVID-19, it’s encouraging to see
readers return to the newspaper edition of the nation’s
premium business, finance and political publication,”
said the masthead’s editor-in-chief, Michael
Stutchbury.
“That’s
an endorsement of the newsroom’s journalism,
including our breaking and ongoing pursuit of the
PwC tax scandal.
“At
the same time, the Financial Review continues to hold
the most digitally focused readership of any newspaper
brand as we increase our share of that national market.”
Nine’s
total publishing assets – including the Financial
Review, nine.com.au, The Sydney Morning Herald, The
Age, WA Today, Domain Digital and more, reach a de-duplicated
audience of 16.6 million Australians across print
and digital.
ThinkNewsBrands,
a group representing news publishers, says 16.5 million
Australians read news each week and 20.6 million or
96 per cent of Australians read news each month.
The
Total News readership figures are produced each quarter
by Roy Morgan for ThinkNewsBrands.
(The
Australian Financial Review)
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AEW's
Media Deal Controversy
September
19, 2024
All
Elite Wrestling (AEW) is on the brink of finalizing
a new media rights deal with Warner Bros. Discovery,
with expectations of an announcement potentially next
week. This deal, reportedly valued around $170 million
annually, has ignited a spectrum of reactions within
the wrestling community. Proponents of AEW argue that
its existence is crucial for maintaining competition
against WWE, preventing a wrestling monopoly, and
fostering innovation in the industry. Conversely,
critics question the financial wisdom of the deal,
suggesting that AEW's growth and market value might
not justify such an investment, pointing to concerns
about production costs and talent contracts. Despite
these financial debates, many fans and industry observers
celebrate AEW for providing an alternative platform,
enhancing opportunities for wrestlers, and potentially
elevating the overall quality of wrestling entertainment
through competition. The discourse surrounding this
deal underscores broader discussions on the health
of the wrestling industry, the importance of competitive
dynamics, and the economic challenges of running a
wrestling promotion in today's market. (Grok)
News
AEW
Media Deal Anticipation
All
Elite Wrestling (AEW) is reportedly close to finalizing
a new television deal with Warner Bros. Discovery,
potentially ranging from $70-170 million annually.
This deal is seen as crucial for securing AEW's financial
future, although there is debate over whether it meets
the financial expectations set by some within the
wrestling community. Proponents of AEW argue that
its existence is vital for the wrestling industry,
providing competition to WWE and preventing a monopoly.
Critics, however, question AEW's financial model and
its long-term viability, despite the new deal. Meanwhile,
AEW continues to produce content, with upcoming episodes
of AEW Dynamite featuring high-profile matches and
special programming, indicating ongoing support and
engagement from fans and stakeholders. (Grok)
News
AEW
TV Deal Speculations
All
Elite Wrestling (AEW) is reportedly close to finalizing
a new media rights deal, which has ignited discussions
within the wrestling community about its impact on
the industry. Critics like Brandon Ross and Brandon
Thurston argue that the proposed $170 million per
year for AEW's TV rights is excessive, given WWE's
dominant market position and AEW's perceived lesser
value. They contend that WWE's popularity might render
AEW unnecessary. Conversely, supporters of AEW emphasize
the importance of competition in wrestling, suggesting
that AEW's existence fosters innovation and provides
more opportunities for wrestlers. The debate also
covers AEW's business model, with skepticism about
its long-term profitability despite the new deal.
However, there's a consensus that securing this deal
would at least temporarily ensure AEW's survival,
though opinions vary on whether it represents true
success or mere continuation. (Grok)
News
AEW
Dynamite Showcases High-Stakes Matches
All
Elite Wrestling (AEW) is set to broadcast a pivotal
episode of AEW Dynamite on September 18, 2024, from
Mohegan Arena in Wilkes-Barre, Pennsylvania. This
episode, leading into AEW Grand Slam, features high-stakes
matches including a trios match with World Tag Team
Champions The Young Bucks and Continental Champion
Kazuchika Okada against International Champion Will
Ospreay, Konosuke Takeshita, and Kyle Fletcher. Additionally,
Orange Cassidy will face Chris Jericho in a rematch
following a previous altercation. The event also marks
the focus of an NFL Films special on AEW's CEO and
GM, Tony Khan, showcasing his management style during
both the NFL Draft and a live AEW Collision. Amidst
this, discussions and speculation persist regarding
AEW's media rights deal, with various analysts and
fans debating its potential value and impact on the
wrestling industry. (Grok)
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