Netflix Is Seeking Top Rates for Advertising, but Madison Avenue Isn’t Too Impressed — Yet

Todd Spangler NY Digital Editor In a symbolic rebuke of Netflix’s top executives, company shareholders voted against approving the compensation packages of leaders including co-CEOs Ted Sarandos and Greg Peters. At the streamer’s June 1 annual shareholders meeting, investors failed to approve the proposed exec pay packages for 2023. But the vote was a non-binding “say on pay” measure, meaning Netflix’s board can disregard the result. The vote came after the WGA had urged investors to vote against Netflix’s exec compensation measures in a letter Tuesday. “While investors have long taken issue with Netflix’s executive pay, the compensation structure is more egregious against the backdrop of the strike,” WGA West president Meredith Stiehm wrote in the letter to Netflix shareholders.

Netflix shareholders declined to support a proposal affirming the pay packages for top executives during a vote at the company’s annual shareholder meeting on Thursday.

Brian Steinberg Senior TV Editor Lisa Ling has, over the course of her career, traveled to far-off places including Costa Rica and North Korean. Her next stop: CBS News. Ling, who recently cut ties with CNN after the Warner Bros. Discovery-based cable-news outlet canceled her documentary program, “This Is Life,” will join CBS News as a contributor, says co-president Neeraj Khemlani. She is expected to debut on CBS News later this summer, and will be based in Los Angeles. “If you look at her work over the years, she is really excellent at embedding with communities,” says the executive, in an interview. “You can only do that if you are afforded time and resources that fits with the kind of storytelling that we do.”

Writers Guild of America is opening up a new front against the studios as its strike continues, as WGA West President Meredith Stiehm sent an open letter to Netflix and Comcast shareholders calling on them to reject the pay packages for those companies’ top executives that are up for a vote. Netflix is set to have its annual shareholders meeting on June 1, with Comcast, parent company of NBCUniversal, holding its shareholder meeting on June 7.

Brian Steinberg Senior TV Editor Common Sense Networks, and Integral Ad Science have struck a pact to provide safe, data-driven solutions in the kids’ advertising market. Common Sense Networks, a for-profit affiliate of Common Sense Media, creates and curates safe content experiences for kids, and was behind the launch of Sensical, a streaming-video hub for children between two and ten. Integral Ad Science works to place ads in safe environments Under terms of the pact IAS will tap into Common Sense Networks’ insights and proprietary data to help their client base place and manage campaigns, while complying with the Children’s Online Privacy Protection Rule, which imposes certain requirements on operators of websites aimed at kids under the age of 13.

Brian Steinberg Senior TV Editor CNN will shift the bulk of its operations behind its Spanish-language efforts to Mexico City, scaling back production of content for linear television in favor of work aimed at reaching a younger audience that favors mobile video. The move is likely to mean the elimination of jobs in Miami and Atlanta, but will also result in a ramp-up of jobs in Mexico and Los Angeles, where CNN will aim to add more than staffers, according to a person familiar with the plans, which were disclosed to employees Thursday afternoon. CNN CEO Chris Licht had nodded to the future of the Spanish-language network in November at a town-hall meeting. At issue is how to maintain outreach to Spanish-speaking viewers at a time when the economics of big media companies are under intense scrutiny. CNN and its corporate parent, Warner Bros. Discovery, have already cut operations, but the question of how to keep CNN en Espanol under such conditions has been under debate for some time. In the past, discussions had been underway to shut down the cable network, which has only limited distribution of around nine million in the United States.

Anna Marie de la Fuente Latin American companies have descended on the 60th LA Screenings, mindful of the ever-shifting panorama in content distribution and production.  The ongoing writers’ strike is viewed by some as a boon for international content. Take what Netflix co-CEO Ted Sarandos said at the company’s first quarter financials report presentation when the writers’ strike was looming: “If there’s a strike — and we want to work really hard to make sure we can find a fair and equitable deal so we can avoid one — but if there is one, we have a large base of upcoming shows and films from around the world.” “The global market is finally realizing that Latin America, with almost 700 million inhabitants that speak the same language, is a territory that has a huge penetration in terms of OTT and – still – pay tv subscribers,” says Mexico City-based Manuel Marti, Fremantle’s head of scripted development, Latin America. “At the same time, it has a long history of producing local content with a distinctive genre that’s slowly being embedded into American culture via the 62 million Latinos that live in the U.S.,” he adds.

Brian Steinberg Senior TV Editor Noah Lyles might be one of the nation’s fastest athletes, but there’s one thing he was falling behind on: managing his social-media profile. The Olympic runner knows how important it is for fans to see clips of him in action, particularly with the Paris Games about a year or so away. But securing rights to video footage and putting it up in an intelligent way across different digital venues can be difficult, he says. “That can be very stressful, and take away from the ability to perform.” NBCUniversal wants to offer athletes some assistance. The media company is launching a new production effort called Fortius that aims to help Olympic athletes burnish their brands in the months leading up to the next Games. The company has many reasons to do so. NBCU and its parent, Comcast have invested heavily in U.S. rights to the Olympics broadcasts, having agreed to pay $7.75 billion for broadcast rights to the events between 2021 and 2032. That programming, especially the hours that air in primetime, rely heavily on in-depth features on the athletes that often require NBC Sports crews to meet with them several times over the course of their training.

Brian Steinberg Senior TV Editor The upfront presentation that looks most like traditional TV came from a company that likes to tell investors, advertisers and consumers how it’s leapfrogging that entire business. Netflix on Wednesday showed dozens of scripted series and movies that could support advertising — if only Madison Avenue would take a chance and bet on its nascent efforts to sell commercials. Arnold Schwarzenegger. Chris Hemsworth and Julia Roberts were only some of the actors whose efforts could be tied to advertising. Counterparts like NBCUniversal and Fox Corp. were hard-pressed to do the same earlier this week. “We are just getting started,” said Peter Naylor, vice president of global advertising sales at Netflix.

Bob Chapek, Former CEO 2022 Chapek compensation: $24.2M/ -25.5% Bob Iger, CEO 2022Iger compensation: $15M/ -67.3% Median employee compensation: $54,256 Chapek pay ratio to median employee: 446 So long, Mr. Chapek! It was a rocky time atop the Magic Kingdom for the Disney chief, who was booted from his post in November just months after the company’s board renewed his contract. During Chapek’s tenure Wall Street soured on Disney’s spending on its streaming service, to say nothing of a near employee revolt over his stumbling response to Florida’s “Don’t Say Gay” law.

Brian Steinberg Senior TV Editor On his Fox News program, Tucker Carlson would often declare himself “the sworn enemy of lying, pomposity, smugness and group think.” So now he wants to launch a show on Twitter? The social-media platform has given millions of people the ability to express themselves and communicate in ways they never could before, but it has also become a haven for bullying, tribalism and disinformation. Carlson may become part of the venue’s latest effort to keep traffic flowing even as many advertisers keep more than an arm’s length away. Figuring out how to handle Carlson could be one of the first challenges for Linda Yaccarino, who has been named Twitter’s new CEO. The former NBCUniversal ad-sales chief knows what it takes to line up blue-chip sponsorships at scale. But doing that on behalf of Carlson may be a mission impossible. HisFox News show suffered from a dearth of mainstream national advertisers, despite the show’s high ratings. After recent revelations about the host’s use of racist and misogynist language, disclosed in documents tied to Dominion Voting Systems’ defamation litigation against Fox News, Twitter’s new bosswould have to hunt far and wide for any traditional sponsors willing to associate Carlson with their brands.

Brian Steinberg Senior TV Editor CNN on Wednesday broadcast one of the most controversial news events of the year, a runaway town hall interview with former President Donald Trump, and advertisers like Subaru and Fidelity Investments went along for the ride. There are new questions about whether all of Madison Avenue will do so in the future. The nation’s big TV-news outlets are about to enter what should be a healthy cycle. The closer the U.S. gets to a presidential election, the more audiences tend to watch. CNN, for example, has indicated it expects to telecast more primetime town halls with candidates (last week’s lured nearly 3.31 million viewers), while Fox News Channel is expected to broadcast the Republican Party’s first primary debate in August.

Brian Steinberg Senior TV Editor Plenty of money will be spent on TV ads during this year’s “upfront” — but probably not enough to fuel the economics of all the nation’s big media conglomerates. TV executives and media buyers usually can’t agree on much at this time of year, when U.S. TV networks try to sell the bulk of their advertising inventory in advance of their next cycle of programming. Buyers and CMOs insist TV advertising prices are too high, while TV sales honchos demand a premium for ads that are seen by more people all at once than commercials accompanying a random binge-watch or a YouTube influencer’s streamcast. In 2023, however, both types of hagglers are in agreement: Madison Avenue will greet the industry’s annual ad-sales session not with open wallets, but with tighter purse-strings.

Brian Steinberg Senior TV Editor NBCUniversal shook up its ad-sales executive suite with just days to go before the company is slated to present its next slate of programing to advertisers. Linda Yaccarino, the company’s longtime chairman of advertising and partnerships, is leaving the company.

Brian Steinberg Senior TV Editor Linda Yaccarino, a hard-charging veteran of TV’s ad-sales wars, is in talks to become the next chief executive of Twitter, according to a person familiar with the matter. Yaccarino, who spent a good chunk of her career at WarnerMedia’s TV operations before joining NBCUniversal last decade, supervises the Comcast-owned company’s ad-sales efforts across the globe, with Peacock and NBC among the assets she helps fortify with revenue. In recent years, she has spearheaded initiatives to generate new cash flows through e-commerce, and worked to redefine the way the TV industry measures its audiences for advertisers in hopes of giving more credibility to the way Madison Avenue pays for people who watch their favorite programs via streaming video.

Brian Steinberg Senior TV Editor Gio Benitez is hoping to marry the two jobs he holds for ABC News. As the Disney unit’s transportation correspondent, he has been close to the recent movement into private space travel. As a newly named co-anchor for the weekend edition of ABC’s “Good Morning America,” he will handle stories that draw out viewers’ emotions and attention. He will continue to handle both roles. “I’m a space geek,” says Benitez, “and I get to still keep on doing it.” “I’ll tell you what he’s pitching,” says Simone Swink, the executive producer of ABC’s A.M. flagship. “He wants to be the first civilian and journalist on whatever the first mission to Mars is. That will be our ongoing conversation for the next five years.”

Brian Steinberg Senior TV Editor Netflix is backing away from the live-in-New-York showcase it planned to hold for advertisers during the industry’s annual week of “upfront” presentations for advertisers, a move that threatens to put a damper on the company’s first big public attempt to woo advertisers to its service. The streaming giant is scrapping the event it planned to hold at its own Paris Theater in New York, slated for May 17, and informed advertisers of the switch Wednesday evening. The decision was previously reported by Adweek. Netflix’ decision takes place amid a massive writers strike that is likely to keep many of the actors, comedians and showrunners who might regularly attend away from the glitzy affairs held by most of the networks each year as part of the upfront, the annual attempt by U.S. media companies to sell the bulk of their commercial inventory attached to their next cycle of programming.

Brian Steinberg Senior TV Editor The 50th season of “Saturday Night Live” isn’t slated to kick off until the fall of 2024. But that doesn’t mean NBC has to wait until then to start lining up sponsors. NBCUniversal intends to start talking to advertisers about the possibilities in the industry’s annual “upfront” sales session, says Mark Marshall, the company’s president of advertising sales and partnerships, in a recent interview. NBC could start calling attention to the landmark season during its telecasts of the 2024 Summer Olympics from Paris, he says, which means the media company is eager to start discussing ideas soon. TV’s “upfront,” when U.S. networks try to sell the bulk of their commercial inventory, is expected to kick into gear next week, when NBCU and its competitors hold a series of glitzy presentations for Madison Avenue. “Saturday Night Live” generated approximately $74,7 million dollars in ad sales in 2022, according to Vivvix, a tracker of ad spending. That figure represents a 12% dip from the nearly $85.3 million “SNL” generated in 2021.

Brian Steinberg Senior TV Editor In an era when gargantuan media conglomerates hope to tempt advertisers into buying tons of commercials across many networks, streaming outlets and digital sites, Marianne Gambelli has come to appreciate the art of staying small. The executive, president of ad sales for Fox Corp., says in an interview that she believes the company will stand apart in the TV industry’s looming “upfront” sales session by not pressing potential sponsors to snap up commercial inventory in multiple venues. Want to buy an ad in a Fox Sunday NFL broadcast without having to load up on commercial avails at Tubi? Gambelli says staffers are willing to accomodate.

Brian Steinberg Senior TV Editor Mick Mulvaney, the former Director of the Office of Management and Budget acting White House Chief of Staff during the Trump administration, has been named a contributor to NewsNation, the upstart cable-news service operated by Nexstar Media. Mulvaney, who has left a contributor role at CBS News, is expected to take up his new duties immediately, appearing on the new politics-roundtable program “The Hill” at 5 p.m. Tuesday. “Mick’s enormous experience in the political sector will make him an incredible resource to viewers,” said Michael Corn, president of news at NewsNation, in a statement. “We are excited to welcome him to our growing powerhouse team of political analysts, especially as we enter another important election season.”