#media-investment

#media-investment

The investment thesis fits Buffett's lens precisely. The Times possesses an irreplaceable brand moat with 175 years of history, digital subscription revenues growing 14% annually, and gross margins stabilized around 48%, demonstrating the pricing power he has always prized in media. NYT has also diversified intelligently. Wordle became a cultural phenomenon. The Athletic acquisition brought the world's largest sports journalism operation into the fold. Cooking offers 25,000+ vetted recipes. This is a portfolio of habit-forming content products anchoring daily routines for millions.

Mark Ritson has released a one-hour lecture breaking down what he calls the 10 marketing moments of the year, offering marketers an indepth review of the campaigns, trends and strategic decisions that mattered most. The video pulls together The Drum columnist's assessments of the successes and failures that defined the past 12 months across brand, media and effectiveness. Rather than focusing on novelty or virality alone, the video revisits moments that had a material impact on business performance, category thinking or marketing practice.

The formation of Horizon Global comes at a "dynamic moment" for the ad industry, according to Bob Lord, interim CEO of the new joint venture. Agencies are contending not only with the rise of technology like generative AI, but also increased category consolidation that is lending competitors even greater scale. Omnicom Group and Interpublic Group, for example, are on the path to forming the world's largest ad-holding group after agreeing to a finalized consent order from the Federal Trade Commission on Friday.

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.