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Hollywood Tries To Woo Advertisers With A Slimmer Menu Of New Offerings
The Hollywood sign is seen as it is repainted in preparation for its 100th anniversary in 2023.
(
Robyn Beck
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AFP via Getty Images
)
Topline:
The TV industry is weeks away from upfronts week where networks and streamers will woo advertisers for billions in advanced orders. How is the entertainment industry faring headed into this crucial time?
Why it matters: Networks remain reliant on advertising revenue and streaming services are increasingly adding advertising tiers. Generating excitement among corporate ad buyers is an essential step in the vitality of the business — and the jobs it proffers.
How 2023’s strikes have affected work: There is, by all accounts, "less being bought, less being made, less rooms, less staff," one agent tells The Ankler. The industry is still adapting to the labor agreements it made last year. For example, the controversial writers mini-room practice is dead, but the good news is that writers who get hired are more likely to work on a show that's going to get made.
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The impact of efficiency: Everyone, even the most valuable companies in the world such as Apple and Amazon, are seeking to control spending. If a producer can’t make a half-hour comedy for less than $2 million an episode, it will not get made. The ripple effect of having to keep to tighter budgets is that it is getting increasingly harder to shoot in Los Angeles.
For more . . . read the full story on The Ankler.
This story is published in partnership with The Ankler, a paid subscription publication about the entertainment industry.
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But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
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