Decisions, Netflix Bets Big on S. Korea, Vice Media's Bankruptcy, B2B Event Spend
Decisions. The bigger they are, the harder they become.
Your days are made up of little decisions. What to wear. What to eat. How to spend your time. What to prioritize.
In business, decisions weigh on you. Who to hire. Who to fire. What direction to take. What to invest in.
Our 3 news stories below showcase 3 major decisions.
Netflix is doubling down on South Korean content, committing 2.5 billion dollars to purchasing Korean shows for the platform.
Time is removing their paywall, a strategic decision they hope will increase their readership.
Vice is the victim of poor decisions. They face bankruptcy from over raising compared to their true market valuation.
The more power one has, the more one’s decisions affect others. An important consideration for future decisions - how will this decision affect those close to you.
3 Stories Dominating Media and Tech Headlines
Netflix investing $2.5 billion in South Korean content. Netflix announced a $2.5 billion, multi-year investment in South Korean content. Following a meeting with the president of South Korea, Netflix CEO Ted Sandaros stated “We were able to make this decision because we have great confidence that the Korean creative industry will continue to tell great stories."
Why it Matters: When other streamers like Disney+ are curtailing their spending on new content, Netflix has doubled down on the success of popular Korean content like Squid Games and Physical:100.
Time to remove digital paywall Time, which just turned 100 this year, is removing its paywall for digital content. Removing a paywall system they’ve had since 2011 will allow Time to reach broader and younger audiences. The company plans to include more ad-supported content across its digital channels.
Why it Matters: This is a great example of a legacy publisher continuing to adapt to the evolving digital media landscape
Vice Media Preparing To File For Bankruptcy After struggling to find a buyer, Vice Media, once valued at over $5 billion, is preparing to file for bankruptcy. This comes after a turbulent start to the year that saw departures of pertinent team members, layoffs, and cancellation of its flagship show Vice News Tonight.
Why it Matters: Vice is one of the core new media companies that met the millennial generation where they were, both online and via a traditional cable network.
Stat of the Week - B2B Event Spending
Corporate event spending in B2B 2023
As in-person event attendance across sectors is returning to pre-pandemic levels, businesses have been adjusting their budgets for conferences and conventions.
The big loser, virtual events. 24% of businesses planned on decreasing their spend on virtual events, a sign that many are eager to return to in-person networking.
Meanwhile the biggest gainers were product launches, up 24%, VIP events, up 15%, and product road shows, up 15%, in spend for 2023.
While AI may be all the rage today, there’s still an intrinsic value in shaking hands and parlaying with other actual humans.
One Fun Thing - Kentucky Derby horse or Ad Agency?
Adweek Managing Editor, Agencies and Marketing, Jameson Fleming hosts advertising’s favorite game show: Kentucky Derby Horse or Ad Agency?
An advertising game show that’s harder than you think.