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On to the news: Podcasting's next deals — streaming's profit problems — luxury fashion discovers TikTok.
Podcasting deals: What's next
Media companies have been on a podcasting binge lately:
Disney, NBCUniversal, ViacomCBS, and WarnerMedia are undergoing massive restructurings to pivot to streaming video, which has investors cheering.
But as former Turner exec and media-telecom analyst Doug Shapiro points out, they're going to have to accept a big sacrifice in profitability in doing so.
Ashley Rodriguez spoke with Shapiro, who broke down the caveats in the model and how these legacy TV companies are adjusting.
Shapiro named Disney as the best positioned of all the traditional media companies to make this transition. They leaned the most into acquiring IP and have made the most aggressive push into streaming.
TikTok has become the big new platform for luxury brands like Revolve and Hugo Boss.
Sydney Bradley writes that TikTok is catering to them, hosting things like fashion month. And brands like Gucci and JW Anderson have seen organic success there, with trends like the "Gucci model challenge"
Luxury brands have traditionally slow to jump on social media, but they're realizing if they want to establish themselves with future, if not current consumers, the short-form video app sensation is a place they should be.
But as Sydney writes, given TikTok's young audience and nascent commerce features, it's not a place that's readily likely to translate to immediate sales.