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The media industry has transformed dramatically in recent years. Streaming, radio, and traditional television platforms have got to keep up. Join Ahron Young and Mediaweek‘s James Manning as they talk to the movers and shakers of the media industry who are running race in style.

LATEST EPISODE

Podcasts have grown exponentially and Covid-19 has pushed those numbers more and more. Australian’s are seeing a radical shift from traditional radio that will effect seemingly have irreversible effects on audible advertising.

PREVIOUS EPISODES

Advertising outdoors has been hit the big time. As the country experiences, ongoing lockdowns and fewer workplaces are open for business, Billboards were made redundant and digital marketing flooded social media as marketing teams invest in the digital space like no tomorrow.

2020 was an intense year for media teams looking to pivot their strategies and remain relevant. Finding a method of benefitting on a global scale is a curious prospect for the radio industry as it suffers through some dark days, we unpack some predictions for what both advertisers and audiences want.

Pandemic profits are not uncommon considering the trouble we’ve seen in 2020. As we discuss today, it depends on the client, the products, and services and it is the economy as a whole that will provide a larger view of the way media outlets can recover.

Business

New York man sues McDonalds for burgers not looking like photos on ads

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Those late night McDonalds ads with the crispy lettuce and soft bun, makes the mouth water…. but one New York man has beef to pick

The man says McDonalds and Wendy’s have misleading adverts that are unfair and deceptive.

He says make their burgers look much bigger than they actually are.

In a proposed class-action lawsuit, he is seeking $50 million in damages for himself and other similarly duped customers.

The chains did not comment immediately on the suit.

Rival Burger King was hit with a similar lawsuit in Florida in March, by the same law firms representing New Yorker Justin Chimienti.

While Burger King has yet to respond in court, an amended complaint shows that more unhappy customers have signed onto the suit.

According to complaints quoted in the BBC, the companies’ adverts are “unfair and financially damaging consumers as they are receiving food that is much lower in value than what is being promised.”

The “actions are especially concerning now that inflation, food, and meat prices are very high and many consumers, especially lower income consumers, are struggling financially,” they add.

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Media

Netflix axes over 100 jobs as streamer deals with performance crisis

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The World’s largest streaming service is taking refuge in new cost cutting measures

Netflix is sacking 150 employees across the company with most of the cuts happening in the United States.

“These changes are primarily driven by business needs rather than individual performance, which makes them especially tough as none of us want to say goodbye to such great colleagues,”

the company said in a statement.

It comes after the company recorded a large fall in subscribers, for the first time in a decade.   

The news sparked an investor sell-off, with the firm’s stock plunging 35% in one day.

The layoffs represent only 2 per cent of the company’s total staff.

Netflix also plans on introducing ads as a way of building revenue.

It also wants to tackle password sharing privileges to compensate for lower revenues.

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Business

Snapchat co-creator and supermodel pay student loans for graduating class

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Student loans still get the better of most of us, a pesky debt that hurts the hip pocket

But one graduating class got the ultimate graduation gift

Otis College of Art and Design in Downtown LA got their student loans paid by off by Snapchat co-creator Evan Spiegel and his wife and supermodel Miranda Kerr.

The president of the art college announced the gift as the single largest donation in the history of Otis College.

The previous largest gift to the school was for $10 million and the screams from the students show how much it means to them.

The president says student debt weights heavily on talented graduates and the couple’s donation will be life-changing for the Class of 2022.

Spiegel created the popular instant messaging app with two former Stanford University classmates.

The snapchat co-creator took summer classes at Otis during high school and wanted to give back to the arts college.

Spiegel and wife Miranda were given honorary degrees at the college.

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