WarnerMedia shakes up leadership amid rollout of HBO Max - Business Insider
Hi! Welcome to the Insider Advertising daily for August 10. I'm Lauren Johnson, a senior advertising reporter at Business Insider. Subscribe here to get this newsletter in your inbox every weekday. Send me feedback or tips at firstname.lastname@example.org
A quick reminder that nominations for our upcoming list of marketing-tech executives are due by Friday.
• New WarnerMedia CEO Jason Kilar made chnges on Friday to shakeup the media company's leadership, reported Ashley Rodriguez.
• Bob Greenblatt, chairman of WarnerMedia Entertainment and Direct-to-Consumer; Kevin Reilly, HBO Max's content chief and president of TNT, TBS, and TruTV; and Keith Cocozza, executive vice president, corporate marketing and communications, are exiting the company.
• Ann Sarnoff will oversee WarnerMedia's expanded Studios and Networks group, and HBO's programming president Casey Bloys will take on responsibility of content for HBO Max, TNT, TBS, and TruTV.
Amazon's record profits last quarter would've been impossible without an accounting change and a huge spending cut. That raises questions about future earnings growth.
• Eugene Kim reported that Amazon saved nearly $2.6 billion in net profits last quarter by cutting its marketing spend and through a previously announced estimate change for its server costs.
• In a call with analysts, Amazon's CFO Brian Olsavsky said that the company cut its marketing spend by "about a third" in the quarter to focus on its supply chain that has taken a hit during COVID-19. The cuts are equivalent to a $2.1 billion dip in marketing spend that Amazon would have ...
More on: www.businessinsider.com