RECORD-BREAKING HOLIDAY SPENDING
It feels like we talk about this in every edition of Video News, but happily, the news continues to be good. So far, holiday consumer spending is 13.5% higher than last year, and in even better news much of it is actual volume gains and not solely inflation-driven. It’s a perfect storm of a growing economy, easing inflation, an increase in disposable income, and an uptick in consumer confidence. According to a recent Gallup survey, Americans plan to spend an average of $975 on gifts this season, the highest since tracking began in the late 1900s. (Really 1999, but I wanted to make you feel old.) (eMarketer: Nov 30, 2023; Gallup, Dec 6, 2013)
DISNEY PURCHASES COMCAST’S STAKE IN HULU
The Walt Disney Company has finally purchased Comcast’s 33% stake in Hulu for $8.6B, making the platform theirs exclusively (Disney took over NewsCorp’s third of the platform when it acquired the company in 2019). This windfall comes at an opportune time for Comcast, which has lost nearly $3B as it builds out its streaming platforms. Oh, and that $8.6B? It may only be a down payment. Hulu’s true valuation hasn’t been agreed upon; once it’s finalized, Disney may have to cut another check for up to $5B. (NextTV: Dec 4, 2023)
DR. PHIL RETURNING TO TV… IN PRIMETIME
Less than a year after ending his syndicated daytime show, Dr. Phil McGraw will be back on the airwaves in February with Dr. Phil Primetime. The program will be produced by Merit Street Media, the company McGraw debuted last month, and distributed by Trinity Broadcasting, one of the nation’s largest Christian broadcasters. Trinity owns over 30 TV stations and is carried by several cable and satellite providers. At launch, the program will be distributed to 65 million U.S. households. Also on Merit Street’s agenda: The introduction of free, ad-supported TV channels. (Hollywood Reporter: Dec 6, 2023)
THIS WEEK IN VIDEO HISTORY
December 8, 2022 – Trevor Noah’s final episode as host of The Daily Show. It’s been a year, and Comedy Central has yet to announce a new host. (To be fair, there were mitigating factors like being off the air during the 148-day WGA strike.) Until they announce a permanent replacement for Noah (sometime in 2024 per the network), they’ll still have a rotating roster of guest hosts such as Sarah Silverman, Al Franken, and Michelle Wolf. Who knows, maybe we’ll all get a turn before they make up their minds.
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