It’s Hard Out There for a Major Cable Sports Network
Disney’s ($DIS) stock is down after their quarterly earnings report yesterday. Despite breaking box office records in 2016, the company’s ESPN channel saw decreased ad revenues as the cost of programming increased. While Rogue One and Moana made billions for the company, ESPN’s operating costs and dwindling revenue streams actually put the company in a position where they made less money than the year earlier. Experts believe consumers’ desire to “cut the cord” and move away from cable is ultimately hurting ESPN’s revenues. On the plus side, Disney beat the expected earnings per share ($1.55 vs the expected $1.49).
That’s how much booze sales increased by last year. Consumers spent around $78 billion in total on liquor. While there were plenty of reasons to drink in 2016, the Distilled Spirits Council of the United States believes the increase is due to “a growing audience of adult millenials” who are interested in things better than cheap beer. For more on the report, read the Council’s report.
Your TV Is Watching You
Vizio, a privately held company that once had aspirations to go public in 2015, owes the FTC and the state of New Jersey $2.2 million. Why? They tracked the viewing histories of consumers on 11 million TV sets without asking for permission. The company then sold that data to third parties to make a few extra bucks. If you have a Vizio TV, visit Vizio’s site to learn how to turn off tracking.