Out of Scope Issue #157: Beastly Times for Media
Plus: A Chief Tractor Officer and, of course, Taylor Swift
Happy Friday! This week, we examine another unusual week for the media world. But first...
đĄON OUR RADAR
Weâre seeing a huge wave of new ad agencies starting up, from both industry vets and entrepreneurs looking to break into a new space. Thirteen thousand nine hundred ninety-eight ad agencies operated in the U.S. in 2023, up 2.4% from 2022, and based on Ad Ageâs reporting, even more are planning to open in 2024.Â
As Earth Day approaches, folks are examining AI and its thirst for powerâ electric power. ChatGPT uses 15 times more energy than a traditional web search. With generative AI becoming mainstream, scaling without overwhelming the electricity grid and the planet will be a tough challenge. (Without intervention, it'll require 25% of all electricity in the U.S. by 2030.)
Reporting on Taylor Swift is now its own beatâ and itâs here to stay, stay, stay. From unlikely publications like Axios ranking each of her songs to USA Todayâs official Taylor Swift reporter churning out consistent coverage of the star, todayâs album drop and ensuing coverage confirm the pop star has entered yet another era of media relevance.Â
đĄON OUR MINDS: Beastly Times for MediaÂ
Photo: Axios
Weâre used to observing discord in the media worldâ layoffs, slashed budgets, AI disrupting newsrooms. Donât get us wrong; those are still significant concerns.Â
But thereâs another kind of chaos brewing in newsrooms nationwide. Several outlets are experiencing an unusual amount of scrutiny for their behind-the-scenes operations.
A senior editor at NPR resigned this week, alleging the outletâs liberal bias weakened its quality of coverage. Meanwhile, the New York Times launched an internal investigation to determine if staff leaked privileged information about the war in Gaza to other news outlets. Â
Elsewhere, former Disney TV exec Ben Sherwood and former Hearst leader Joanna Coles recently acquired just under 50% of the Daily Beast and are looking to revive the publicationâs âsmart tabloidâ brand, welcoming the attention.
These crises are just the start as media companies struggle to adapt to a new industry landscape and weather economic uncertainty. Expect the news to continue being news as media companies try to remain relevant, on-message, and stay out of the headlines.Â
đ„QUICK HITS:Â
In case you missed these reads:
Finishers of the 2024 Boston Marathon might not be Heartbroken, but some are certainly miffedâthis yearâs medal aggressively spotlights Bank of Americaâs sponsorship.Â
John Deere is looking to farm engagement with a quest for a new âchief tractor officerâ who will create TikTok content to help attract new audiences to the iconic brand.
Sundance Film Festival is officially welcoming bids for a new host location starting in 2027.
Thanks for reading,
HL
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This weekâs newsletter is brought to you by Heidi Garnerâs all-time break on SNL last weekend.Â