Mediagazer: How the charm of Ozy's chief, Carlos Watson, helped persuade investors into putting millions toward a media dream before conducting sufficient due diligence (Ben Smith/New York Times)

5:30 AM ET, October 5, 2021

Top News:

Jessica Bursztynsky / CNBC:

Carlos Watson says Ozy Media is not shutting down after having “good conversations” with investors and advertisers and Friday's announcement was “premature” — - Ozy Media isn't shutting down, CEO and co-founder Carlos Watson told CNBC on Monday.

Discussion: @todayshow, New York Times, Nieman Lab, @benyt, Axios, @sarafischer, CNN, The Hollywood Reporter, @sarafischer, Defector, @mccarthyryanj, @brianstelter, @alexweprin, TODAY.com, @sarafischer, @sarafischer, @sarafischer, @alexweprin, @sarafischer, @digitalshields, @bmorrissey, Quartz, @jason_kint, @brianstelter, @alexyoung, @millie, @film_girl, @brianstelter, @andrewpauljoyce, Forbes, @jbarro, @craigsilverman, The Wrap, @benyt, @sherman4949, @brianstelter, @brianstelter, @jayrosen_nyu, @cnbc, @craigsilverman, Variety, bookforum.com, RAIN News, @sherman4949, @nycjim, Variety, @maxwelltani, @squawkcnbc, Substack, @jeremymbarr, @_cingraham, @chrislhayes, @goldietaylor, @neontaster, Vanity Fair, @marisakabas, @sarafischer, @sarafischer, @phkeane, @danprimack, @alexweprin, @kaidiekmann, @tomgara, @mathewi, @noahshachtman, @juddlegum, Ad Age, @joefav, TVNewser, @digitalshields, @kerrymflynn, Insider and nexttv.com

Ben Smith / New York Times:

How the charm of Ozy's chief, Carlos Watson, helped persuade investors into putting millions toward a media dream before conducting sufficient due diligence — The story behind the story is about the elite investors who plowed millions into a media dream without much due diligence, persuaded by the charm of Ozy's head, Carlos Watson.

Discussion: Axios, Columbia Journalism Review, @craigsilverman, @craigsilverman, Mediaite, TODAY.com, @benyt, @craigsilverman, Media Voices, @sarafischer, @talkopan, @ketanj0, Boing Boing, @youngsinick, @byjoelanderson, @rolandsmartin, @jamesrbuk, @craigsilverman, @benyt, @jduffyrice, @reckless, @benyt, @jdesmondharris, Today in Tabs, @lyssaslounge, The Commercial Experience, @heerjeet, @nkulw, @chrisecrowley, @mattwelch, insideradio.com, @rameeztase, @trungtphan, Newser, @jeremymbarr, @craigsilverman, @craigsilverman, @craigsilverman, New York Magazine, @craigsilverman, @craigsilverman, @craigsilverman, @craigsilverman, The Wrap, @jodyavirgan, @geedee215, @amlwhere, @gentlemanstimes, @lpolgreen, @daveweigel, @jeremymbarr, @felixsalmon, @jessicalessin, @donlday, @justinjm1, @akbarth3great, @jswatz, @annehelen, @jswatz, @bendwalsh, @escarry, @sharonwaxman, @aymanm, @oliverdarcy, @sonnybunch, @davepell, @ccadelago, @vivian, @benyt, Tourist Trapp and YouTube

Eugene S. Robinson / Look What You Made Me Do:

Ozy's former editor-at-large recalls Carlos Watson's abusive management style and says there was a white Ozy and a Black Ozy, where employees were treated worse — “And in regards to your little music thing...” It was both a dressing down, very possibly Dressing Down #37, and a pep talk.

Discussion: @matthaber, @byjoelanderson, @brosandprose, @jdesmondharris, @isabelslone, @razibkhan, @delecewrites, @blakehounshell, @annamerlan, @imgarysuarez, @mjrobbins, @kausmickey, @rachelsklar and @seamushughes

Craig Silverman / @craigsilverman:

[Thread] A look at why Ozy failed as a paid media company and has become a perfect, cautionary illustration of paid versus earned media — The Ozy Media meltdown has a lot of lessons. As the reporter who caught them buying junk traffic in 2017, I'm biased. But I see it as a perfect, cautionary illustration of Paid versus Earned media. So: a 🧵 on why Ozy failed as a paid media company — and why it matters.

Discussion: Mediaite, @espiers, @craigsilverman, @jayrosen_nyu, New York Times and @pomeranian99

Sara Fischer / Axios:

Sources: Ozy inflated its numbers by buying most of its social media following and viewership for some shows, then used the numbers in pitches to TV networks — The downfall of Ozy Media and its charismatic founder Carlos Watson will go down as one of the most sudden media collapses of all time.

Todd Spangler / Variety:

Disney says Hulu president Kelly Campbell has left after less than two years in the role — Campbell's departure was announced to staff by Rebecca Campbell, Disney's chairman of international operations and direct-to-consumer. Kelly Campbell's direct reports at Hulu will report to Rebecca Campbell …

Discussion: @mattbelloni, @mattbelloni, C21Media, @masasoncap, @richlightshed, @benmullin, @mattbelloni, @jbflint, Deadline, @laceyvrose, nexttv.com, Hollywood Reporter and Adweek

Wall Street Journal:
Sources: Kelly Campbell was upset about losing some oversight, including over Hulu's scripted content, amid Disney's restructurings and cost-saving measures

Discussion: The Wrap, @mattbelloni, @jbflint, @wsj and Variety

Sarah Whitten / CNBC:

Members of the IATSE union, representing backstage movie and TV workers, authorize a strike after trying to negotiate a larger streaming revenue share and more — - Hollywood's backstage union workers voted to authorize an industry-wide strike. — This vote comes after months …

Jessica Toonkel / The Information:

Sources: The Athletic lost around $100M between 2019 and 2020, exceeding its $73M in revenue over the same period — Digital sports news firm The Athletic hemorrhaged nearly $100 million cash between 2019 and 2020, according to a presentation prepared for investors, exceeding the $73 million …

Max Willens / Digiday:

News app Newsbreak, which claims 45M MAUs, hires Snap's Xana O'Neill as head of original content as it tries to boost its nearly 3,000-strong creator program — After about a year of trying to get into the original content business, Newsbreak is unofficially starting over.

Discussion: @ckrewson

Amitha Kalaichandran / Poynter:

How editors can better assess the credibility of experts and raise standards for op-eds, as contrarian viewpoints on COVID-19 flood opinion sections — An influx of contrarian viewpoints on COVID-19 policy in mainstream opinion journalism could have dire consequences on how the pandemic plays out.

Sam Shead / CNBC:

Filing: TikTok's European revenue grew 545% YoY to $170.8M in 2020 as losses soared to $644.3M, up from $118.7M in 2019; headcount grew to 1,294 from 208 — - TikTok's turnover in Europe grew 545% to $170.8 million last year as advertisers upped their spending on the platform …

Discussion: musically.com, @sam_l_shead and @joemccann, more at Techmeme »

Charlotte Tobitt / Press Gazette:

Filings: The Spectator doubled pre-tax profits to £1.6M in 2020, as turnover rose 15% to £16.3M and subs grew 40%, compensating for lost newsstand and ad sales — The Spectator more than doubled its pre-tax profits in 2020 as a 40% boost to subscriber numbers balanced out challenges …

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