Oil jumped as much as 6% on Thursday after Iran shot down a U.S. military drone, prompting President Trump to blast Tehran on Twitter.Energy Commoditiesread more
For doubters thinking the rally is just a last gasp of the decade-long bull market, chart analysts are here to prove them wrong.Marketsread more
The billionaire investor believes the stock market is in a "zone of fair value" at current levels.Marketsread more
"I think there's a deceleration in the economy to the point where the railroads, the airlines, the companies, the lenders are all admitting that there's deceleration," says...Investingread more
However, Slack chief Stewart Butterfield says, "The broader world of email will stick around."CNBC Disruptor 50read more
Apple said in a letter released Thursday that tariffs could hurt its ability to compete globally.Technologyread more
Stocks rose sharply on Thursday after the Federal Reserve hinted at possible interest rate cuts as soon as next month.US Marketsread more
Trump tweets after an Iranian surface-to-air missile shot down a U.S. military surveillance drone in what the U.S. calls an "unprovoked attack."Politicsread more
National Securities' Art Hogan sees the U.S.-China trade war as the market's biggest risk – not Fed policy.Trading Nationread more
The last few years have seen a surge of interest in plant-based burgers, but a few restaurant chains remain on the sidelines.Restaurantsread more
The Federal Reserve may be on its way to delivering a half-point interest rate cut next month, according to Goldman Sachs economists.Economyread more
We are constantly bombarded with stimuli fighting for our attention. So it's not surprising that traditional media is feeling the incursion of the new media for that attention.
In the last 10 years, Fox's broadcast ratings are down 50% from an average 4.0 rating for its prime-time shows to 2.0 last year. They're not alone.
A decade ago, we didn't have Facebook, Twitter, , Amazon or Google's YouTube fighting for our attention in a meaningful way. These services have siphoned off our attention from traditional broadcast and cable TV.
Yet, ironically, this secular decline in TV ratings make attention more valuable than ever. In 1983, the M*A*S*H series finale attracted an average audience of 105.97 million. Advertisers paid up for that, spending (in today's dollars) the equivalent of $1.9 million for a 30 second ad. February's Super Bowl drew 117 million (including streamers) and was able to charge $5.5 million for the same length of ad.
For any media company (old or new) to increase its value over time, I would argue it needs to know its Weekly Attention Score.
A weekly attention score would answer what percentage of our total viewers watched us at least a half an hour in the last week? Also: is this number going up or down over time?
Last weekend, I sent out several Twitter polls to my followers to get a sense from them on what captures their weekly attention these days.
Twitter polls are inherently unscientific and these only ad a few hundred people responding, which makes them prone to manipulation or bias. However, I still find them interesting. I have 24,000 followers. They tend to be tech-savvy, wealthy, and mostly in the US (at least according to Twitter's analytics). Therefore, I like polling my followers -- assuming I can devise questions that are more fact-based and less open to manipulation -- as an early-warning measurement of interest level today in this group which might sugest where interest levels will go in a few years in the general public. With all that as a caveat, take these poll results with a grain of salt.
Rather than asking my followers how many hours a week they spend watching traditional linear TV versus streaming services, I instead asked a binary question about if they spent at least 30 minutes a week watching the following services. Here is a snapshot of what I got back in response.
I first started by asking about how much time people spend watching broadcast TV.
I was frankly surprised the numbers were so high, so I added a follow up question about what people were tuning in to broadcast TV for when they were?
No wonder these networks are spending so much on live sports rights. According to these results, the biggest reason why these networks are still capturing our weekly attention is sports. Interestingly, the second most popular reason is not the primetime show line-up, but the national news. I guess it's not a coincidence that Shonda Rhimes just decamped to Netflix.
I next asked about attention for the grand-daddy of US Pay TV:
I'm not sure if these results were inflated by the recently completed 7th season of Game of Thrones. I was actually surprised that HBO did as well as it did. Maybe my followers are big fans of Ballers. Regardless, these results are good news for HBO CEO Richard Plepler and HBO's new owner AT&T.
I then turned to interest in basic cable channels.
Taken together, these last 3 questions demonstrate that basic cable channels are not deriving as much weekly interest as the big networks. That's not surprising. However, we know that the biggest reason why people are tuning in to those networks are sports, and ESPN happens to be the most popular cable channel in this grouping.
TNT is the second most valuable cable channel in terms of what cable and satellite companies pay to the network in affiliate fees (after ESPN), yet there is a enormous gulf in weekly interest in these results between ESPN and TNT. It would be interesting to know how TNT's weekly interest rises or falls during NBA season. It could be yet another data point on the importance of sports.
To me, this suggests most cable and satellite companies will continue to pay up for ESPN. Even if the gap between ESPN's per subscriber affiliate fees and TNT's seems high at first glance, look at the difference between weekly attention according to these results. For the cable/satellite providers, the weekly attention ESPN brings to their service is likely well worth it.
And now for some of the streamers.
If my followers are the leading edge of what's to come, linear TV's days are numbered. Just look at how much more my followers are spending on weekly consumption of Netflix and YouTube compared to traditional TV "channels." It should only continue to go up.
So some conclusions of these unscientific Twitter poll results:
Any media company needs to understand its Weekly Attention Score and whether it's trending in the right direction. If you continue to offer something that people want to consume every week, you offer enormous value in this world where everyone is drinking from the firehose of data.