Hi there,
Happy Friday! We made it another week.
Today, I bring you the latest drama from Hollywood, where a new relationship is brewing between trade media. Penske and MRC announced that they would be under one umbrella.
The move, effectively, puts brands including The Hollywood Reporter, Variety and Billboard in the same brand portfolio. This may not be a surprise to you, dear reader, if you are in media (or likely corporate America), but there was a fair amount of ego at play in this. These former competitors, now sister brands, will operate as separate brands with the same print schedules (for now).
But expect advertisers to see more cross-brand packages, even thought it might not be a total win for the brands at the end of the day. As one source told me: “The ad buyers of the studios under stress and duress are probably not going to continue giving everybody money,” they said, “Packaging and deals give you the benefit of scale, but not 1+1=3.”
Read the backstory of the full saga here.
What else we're covering:
Fun Fact: Automated messages drove 26% of email marketing sales with less than 2% of email sends.
Need a break? Put the new Air Jordan XXXV on your Bitmoji and hit the road.
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