MediaTalk

In this special Thanksgiving edition of "MediaTalk," host Mike Reynolds revisits insightful discussions with four prominent executives in the media industry, each sharing their perspectives on topics ranging from evolving distribution deals, sports rights and AI. The episode features Tom Montemagno from Charter Communications, John Lasker from ESPN, Brad Ramsey from TEGNA, and Mark Penn from Stagwell, offering a blend of strategic insights and industry trends. Tom Montemagno discusses Charter's shift towards a hybrid model that combines traditional linear programming with streaming options. He emphasizes the importance of adapting to customer preferences and the need for transformative deals, particularly highlighting the successful negotiation with Disney/ESPN that allowed for seamless integration of streaming services. John Lasker focuses on ESPN's direct-to-consumer strategy, particularly the launch of the ESPN DTC enhanced app. He underscores the goal of simplifying the content offering for sports fans, making it easier for them to access a comprehensive range of ESPN content through a single subscription, appealing to both traditional viewers and new audiences. Brad Ramsey shares insights into TEGNA's approach to local sports rights, having secured deals with multiple professional sports teams. He notes the resurgence of local broadcasting in sports, driven by changes in the RSN space, and emphasizes the company's commitment to reaching more fans through accessible game coverage. Mark Penn outlines Stagwell's vision as a digital-first marketing network, discussing the integration of advanced technology and AI in marketing strategies. He highlights the company's growth ambitions through both organic growth and strategic acquisitions, while also emphasizing the importance of adaptability in a rapidly changing marketing landscape. This episode reflects on the challenges and opportunities that defined this year's media environment . More S&P Global content: MediaTalk | Season 3 | Ep. 45 - How TEGNA Tailors Sports Rights Deals Across Leagues, Markets for Maximum Reach MediaTalk | Season 3 | Ep. 34 - How ESPN Aims to Change the Game with New Streaming App MediaTalk | Season 3 | Ep. 28 - Stagwell CEO Mark Penn Talks The Future of Marketing Amid AI Revolution MediaTalk | Season 3 | Ep. 25 - Charter's Gambit to Revive Linear Pay TV with Seamless Streaming Strategy Featured experts: Tom Montemagno, Executive Vice President of Programming Acquisition at Charter Communications John Lasker, Senior Vice President of ESPN DTC Brad Ramsey, Senior Vice President and Head of Sports Rights for TEGNA Mark Penn, Chairman and CEO of Stagwell Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

The latest episode of "MediaTalk" explores the fall and winter box office landscape, including the lukewarm fall season, which narrowly missed the $1 billion mark. Despite strong performances from "The Conjuring: Last Rites" and "Demon Slayer," the fall season struggled due to several underperforming films and postponed releases like the "Mortal Kombat" sequel. The episode also explores the impact of streaming strategies on box office performance. Films like "KPop Demon Hunters" have thrived due to repeat viewings on platforms like Netflix, showcasing the evolving dynamics between theatrical releases and streaming services. The conversation shifts to the winter season, highlighting potential blockbusters like "Wicked: For Good," "Zootopia 2," and the third installment of "Avatar." Expectations are high for "Wicked: For Good," with record-breaking pre-sales and extensive cross-promotional campaigns. Meanwhile, "Zootopia 2" and the upcoming "Avatar" film are also poised to drive significant box office revenue.   More S&P Global content: MediaTalk | Season 2 EP 14 - The Summer Box Office Begins - https://www.spglobal.com/marketintelligence/en/news-insights/podcasts/mediatalk-s2-ep-14 Featured experts: Wade Holden, senior research analyst at S&P Global Market Intelligence Kagan Mac Mathews, associate director of editorial, design and publishing at S&P Global Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James

"MediaTalk" host Mike Reynolds delves into the dynamics of holiday spending for 2025, featuring insights from industry experts Zach Ciampa of 451 Research and Brian Scheid from Market Intelligence. As the holiday season approaches, what trends are emerging in consumer behavior? With an average spending forecast of $890.49 per person in the US, how will inflation and economic uncertainties shape this year's shopping habits? Zach shares findings from 451's recent surveys, revealing a notable shift towards online shopping, where 50% of consumers plan to make their purchases digitally. Are consumers prioritizing convenience over traditional in-store experiences? Meanwhile, Brian highlights the complexities of inflation and the potential impact of tariffs on consumer spending. With the Fed's target for inflation set at 2%, how will rising costs affect holiday budgets? As businesses prepare for the holiday rush, how can they adapt their strategies to meet evolving consumer expectations? Will AI-generated content enhance or hinder brand engagement this season? The episode also explores the ongoing debate around the use of AI in advertising — do consumers prefer authentic, human-driven marketing, or are they open to AI-generated content? Join us as we unpack these pressing questions and more.   More S&P Global content: Generative AI shows rapid growth but yields mixed results Featured experts: Zach Ciampa - analyst at S&P Global Market Intelligence 451 Research Brian Scheid - senior reporter on global markets at S&P Global Market Intelligence Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" host Mike Reynolds sits down with Brad Ramsey, senior vice president of media operations at TEGNA, about the increasingly important role that broadcasters are playing in delivering local sports programming to fans. TEGNA has secured local rights deals with 14 NBA, NHL, MLB, and WNBA teams, marking a significant shift in the sports broadcasting landscape. Ramsey emphasizes that the company's varied agreements, which include full season rights and targeted game packages, allow TEGNA to reach a broader audience, offering value to viewers and advertisers alike.  The conversation highlights the transformation of the regional sports network (RSN) space, especially following Diamond Sports' bankruptcy. Ramsey notes that local broadcasts have significantly outperformed previous RSN audiences, showcasing the effectiveness of their strategy. Listeners will find themselves contemplating critical questions: How are local broadcasters redefining sports viewership in a digital age? What does the future hold for sports rights as teams explore new partnerships? And how can advertisers leverage the resurgence of local sports broadcasting to maximize their reach? Tune in to discover how TEGNA and other broadcasters are reshaping the sports media landscape to make something long considered old new again. More S&P Global content: MediaTalk | Season 3 | Ep. 43 - Navigating the New NBA and WNBA Media Landscape Social media followers for top professional sports teams, May 2025 Featured experts: Brad Ramsey, Senior Vice President and Head of Sports Rights for TEGNA Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

The latest episode of "MediaTalk" delves into the dynamic landscape of mobile and broadband markets in the Americas with Kagan analysts John Fletcher, Lynette Luna, Tomás Sarmiento and Bruno do Amaral. As they explore the mobile markets, intriguing questions arise: How does the mobile penetration rate exceed 100% with a billion phones for 880 million people in the Americas? Why is Peru emerging as the fastest-growing market? The discussion highlights the contrasting growth patterns between the US and Latin America. While the US leads in revenue and ARPU, Latin America's prepaid market, particularly in Mexico, dominates with 83% of the market. Bruno Do Amaral sheds light on the potential shift from prepaid to postpaid, especially in Brazil. Will this trend reshape the market dynamics? The analysts also tackle the burgeoning 5G landscape. Despite its presence in countries like Brazil and Mexico, 5G adoption is slower than anticipated. Could upcoming spectrum auctions accelerate its growth? Turning to broadband, John Fletcher emphasizes the US' unique reliance on cable due to historical early adoption. With fixed wireless gaining traction, could this be the key to achieving near-complete broadband penetration in the US by 2031? Meanwhile, Tomás Sarmiento points out the rapid fiber adoption in Latin America, driven by small and mid-sized ISPs. How will this affect future market dynamics? As the episode concludes, each analyst shares their focus for the upcoming years, from spectrum challenges in the US to the evolving operator landscape in Latin America. With the potential for broadband price wars and increased convergence in services, what lies ahead for the telecom industry in the Americas? More S&P Global content: Technology, Media, & Telecoms Fixed wireless subscribers by state  Featured experts: Lynnette Luna, senior research analyst at S&P Global Market Intelligence Kagan. John Fletcher, principal research analyst at S&P Global Market Intelligence Kagan. Tomás Sarmiento, research analyst at S&P Global Market Intelligence Kagan. Bruno do Amaral, research analyst at S&P Global Market Intelligence Kagan. Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

As the NBA kicks off its 2025-2026 season, significant changes in media rights and distribution strategies are reshaping how fans engage with the league. This episode of "MediaTalk" discusses the implications of the new NBA national rights deals, including the return of NBC Sports and the entry of Amazon Prime Video. How will these shifts impact viewership and fan engagement? Will streaming platforms help the league reach audiences that are either younger or more international in scope? The episode also explores the WNBA's evolving media landscape, with record attendance and ratings alongside a substantial increase in rights fees. With the collective bargaining agreement ending later this month, what does the future hold for player salaries and league profitability? How does the rise of the 3-on-3 league Unrivaled impact the power balance between players and the league? Join "MediaTalk" host Mike Reynolds and a panel of S&P Global Market Intelligence Kagan analysts as they discuss the challenges and opportunities facing both leagues in this dynamic media environment. More S&P Global content: The Business of Sports  Moneyball: The impact of sports media rights on the US video market Featured experts: Justin Nielson, principal analyst at S&P Global Market Intelligence Kagan. Scott Robson, principal analyst at S&P Global Market Intelligence Kagan. Michael Johnson, research analyst at S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" explores the growing importance of sports investments, which have evolved from vanity purchases to a legitimate asset class. Record-breaking transactions in leagues like the NBA and NFL underscore this transformation. A key focus is why sports teams are considered a durable asset class that will hold their value and continue to grow not just for the next five or 10 or 20 years, but possibly for the next 100. Unlike other investments, sports teams enjoy inelastic demand—fans remain loyal regardless of team performance, ensuring steady revenue. These unique characteristics make sports teams more attractive than even Big Tech stocks, which may not guarantee the same long-term stability and loyalty. The episode emphasizes the unparalleled ability of sports to captivate audiences, as seen with events like the Paris Olympics and the World Cup. This enduring appeal solidifies sports teams as valuable investments. The podcast also explores the role of US investors in global sports investments, especially in European soccer clubs. Over half of the Premier League teams have American owners, highlighting a strong US presence in the UK soccer scene. The conversation shifts to the impact of social media and technology. Social media enhances fan engagement and drives sponsorship values, while the sports technology sector sees growth in areas like sports analytics and collectibles. Finally, the episode touches on the burgeoning interest in women's sports, with rapid growth in valuations for women's sports teams. As the episode concludes, the guests discuss whether the sports investment market is in a bubble. While some believe it is, others see it as a period of price discovery, with valuations likely to rise before stabilizing. More S&P Global content: Scoring Profits: The Dual Benefits of Investing in Sports Featured experts: Iuri Struta, senior reporter at S&P Global Market Intelligence  Richard Berndes, associate media analyst at S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"Media Talk" host Mike Reynolds is joined by Justin Nielson, principal analyst at S&P Global Market Intelligence Kagan, to discuss the opportunities and challenges faced by TV and radio broadcasters in 2025. Radio is experiencing a bifurcation, with traditional ad revenues declining while podcasting and streaming drive growth. Nielson emphasizes that radio remains a local medium, fostering community relationships, but faces pressure from national advertisers shifting budgets towards platforms like Spotify and SiriusXM. While certain sectors, including healthcare and professional services, are thriving, others like retail and automotive are struggling due to economic pressures. On the television side, the outlook for 2025 appears challenging, particularly in an odd year without major events like the Summer Olympics or a presidential election. Additionally, the podcast discusses the M&A landscape, noting that the TV sector faces duopoly and national ownership cap rules that could impact transactions. Recent deals, namely Nexstar's potential purchase of TEGNA, will test the current limits. The podcast also explores the impact of technological advancements, including AI and the transition to ATSC 3.0, which promises new revenue opportunities but faces hurdles in consumer adoption. Overall, while both radio and TV navigate a complex environment marked by digital competition and economic uncertainty, there are still promising avenues for growth, particularly at the local level, alongside an evolving M&A landscape that could reshape the industry. More S&P Global content: Technology, Media, & Telecoms Featured experts: Justin Nielson, principal analyst at S&P Global Market Intelligence Kagan. Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

In the latest episode of "MediaTalk," host Mike Reynolds and S&P Global Market Intelligence Kagan analyst Neil Barbour discuss the implications of Electronic Arts' $57 billion going-private deal. Notably, while the multiples on this deal rival those of  Microsoft's purchase of Activision Blizzard in 2021, the industry is in a very different phase of growth.  The conversation also looks at the current M&A landscape, delving into why the the anticipated wave of consolidation failed to materialize after Microsoft's Activision Blizzard deal. Will  regulatory hurdles and a cautious market environment continue to stifle potential deals? The health of the video game market raises further questions. With Microsoft reporting a rise in content revenue from previously Xbox-exclusive titles now available on PlayStation, can this momentum be sustained? How will Nintendo navigate software sales following its Switch 2 hardware launch? And what factors are driving Roblox's impressive user engagement, especially around titles such as Steal a Brainrot and Grow a Garden?  This episode prompts listeners to consider the future of the gaming industry and the potential paths for major players, asking what strategies companies should adopt to stay competitive in an increasingly dynamic market. More S&P Global content: Video game industry sheds jobs to protect margins MediaTalk | Season 3 | Ep. 22 - Gaming Outlook Complicated by GTA Delay, Metaverse Momentum Featured experts: Neil Barbour, S&P Global Market Intelligence Kagan analyst Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" host Mike Reynolds and S&P Global Market Intelligence Kagan analyst Michael Johnson recently returned from Front Office Sports' "Tuned In" conference in Manhattan, where media and league executives talked about the rapidly evolving landscape of sports media.  One of the key highlights was the MLB's new rights agreements, which have not been formally announced. They are expected to include NBC securing Sunday night games, ESPN handling local rights, and Netflix stepping in for the Home Run Derby. This diversification of platforms underscores the strategic pivot towards streaming services, aiming to capture a wider audience and cater to changing viewer preferences. The NBA is also making strides, with NBA Commissioner Adam Silver discussing potential expansions into Europe, supported by heavyweights like JP Morgan and the Raine Group. This not only signifies the NBA's global ambitions but also highlights the importance of regulatory navigation and infrastructure development in international markets. Amazon's entry into the Masters golf tournament further illustrates the growing influence of streaming giants in traditional sports broadcasting. With their robust sports portfolio, Amazon is positioning itself as a formidable player, potentially eyeing future marquee events like the Super Bowl. These developments are complemented by NBC's ambitious plans to provide 50 weeks of live Sunday night sports annually. Such initiatives reflect the increasing importance of sports in the broadcasting realm, as networks strive to maintain relevance and viewer engagement in a competitive market. More S&P Global content: The Business of Sports  Moneyball: The impact of sports media rights on the US video market Featured experts: Michael Johnson, research analyst at S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" host Mike Reynolds is joined by S&P Global Market Intelligence tech policy reporter Stefan Modrich to discuss the evolving regulatory landscape for tech and media companies during the second Trump administration. The episode explores AI regulation, BEAD funding and broadcast mergers. The discussion highlights the increasing complexity of AI legislation across the United States, with over 1,300 bills introduced at the state level that address AI's role in various sectors, including healthcare and election security. As companies and consumers navigate this regulatory patchwork, concerns about AI-generated content in political campaigns remain a hot topic. The Broadband Equity Access and Deployment (BEAD) program, aiming to provide over $42 billion for high-speed broadband deployment, faces scrutiny as the Trump administration revamps funding criteria. The conversation touches on the political dynamics that could influence how these funds are allocated, with some states potentially needing to choose between AI regulation and BEAD funding. In the broadcast sector, M&A stands to reshape the landscape. Nexstar's $6.2 billion bid to acquire TEGNA is under the spotlight, shining a light on both the FCC's deregulatory stance and the changing ways in which Americans are consuming news.  More S&P Global content: GenAI funding hits record in 2024 boosted by infrastructure interest Featured experts: Stefan Modrich, tech policy reporter for S&P Global Market Intelligence  Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" host Mike Reynolds is joined by two in-house movie experts — Wade Holden and Mac Mathews — to explore how the reduced theatrical window has reshaped audience behavior and summer box office outcomes. Traditionally, films enjoyed a 90-day exclusive run in theaters; but post-pandemic, this has been shortened to an average of less than seven weeks. This shift allows studios to capitalize on positive word-of-mouth quickly and reduce advertising costs by transitioning films to streaming platforms sooner. However, it also means that films need to make a significant impact in a shorter timeframe to be deemed successful. Despite these challenges, certain films managed to outperform expectations. "Lilo and Stitch" and "How to Train Your Dragon" were notable successes, drawing in family audiences with their nostalgic appeal and quality storytelling. On the other hand, Pixar's "Elio" was a box office disappointment, failing to capture the audience's imagination. Meanwhile, movies based on video games scored big, with "Minecraft" exceeding expectations and contributing to a strong spring box office. This trend of video game adaptations performing well is something studios are eager to leverage, as evidenced by Warner Bros. moving the release of the new "Mortal Kombat" movie to next spring to capitalize on audience interest. Despite some successes, the summer box office was also affected by superhero fatigue. Films in this genre, which once reliably hit the $1 billion mark, are now performing in the $500 million–$600 million range worldwide. Titles like "Fantastic Four" did not meet expectations, suggesting a potential oversaturation or a shift in audience preferences. More than ever, this summer proved it is a new world for studios and theater owners. And this fall promises to be more of the same as some of the most highly anticipated movies have the shortest theatrical windows. More S&P Global content: A Box Office Season of Sequels, Side Quests and 'Sinners' Featured experts: Wade Holden, senior research analyst at S&P Global Market Intelligence Kagan Mac Mathews, associate director of Editorial, Design and Publishing at S&P Global Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

While live sports media rights have been moving to streaming platforms for years, the 2025/26 season marks a pivotal shift in how NFL fans can access content. For the first time, every game will be available through one streaming platform or another following the launches of ESPN's enhanced direct-to-consumer app and Fox One. Coupled with existing streaming services like Paramount+, Netflix and Amazon Prime, US football fans will undoubtedly be watching more games on more platforms than ever before.  Ahead of the kick off of the 2025/26 season, "MediaTalk" host Mike Reynolds is joined by a trio of S&P Global Market Intelligence Kagan analysts to discuss how traditional broadcasters like NBC, CBS, and Fox are adapting to this new media environment. While network owners have previously expressed concerns about fragmentation, they now appear to be leaning in to multiplatform audiences and ad sales. Even on the linear side, the numbers remain strong, with "Sunday Night Football" on NBC maintaining its reign as the top-rated series for 14 consecutive years. Local broadcast stations remain important partners for building in-market support for NFL teams. With this in mind, the panel discusses potential shifts in media rights post-2029, with the possibility of more games moving to streaming platforms as existing deals expire. More S&P Global content: The Business of Sports  Moneyball: The impact of sports media rights on the US video market   Featured experts: Justin Nielson, principal analyst at S&P Global Market Intelligence Kagan. Scott Robson, principal analyst at S&P Global Market Intelligence Kagan. Michael Johnson, research analyst at S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

Ahead of the upcoming '25/'26 college football season, "MediaTalk" host Mike Reynolds discusses the changing dynamics of college football media rights with Kagan analysts Justin Nielson, Scott Robson, and Michael Johnson. As the second season of the expanded College Football Playoff (CFP) begins, the analysts explore the significant changes and potential future playoff scenarios. With the Big Ten and SEC realignments altering the college football landscape, the discussion highlights the challenges and opportunities for top-ranked teams like the Texas Longhorns and Ohio State. The podcast examines the growing rivalry between "College GameDay" and "Big Noon Kickoff," noting the addition of key personalities. The analysts also discuss the rise of streaming services such as ESPN's enhanced DTC app and Fox Sports One, and their implications for traditional linear TV. A key — and somewhat controversial — development is the NCAA's recent settlement, which allows for revenue sharing with D1 athletes, potentially shifting college sports into a more professional domain. The conversation touches on how this change could affect competition and player transfers. As the discussion turns to the future of college football playoffs, the panel considers the potential expansion from 12 to as many as 28 teams, reflecting on its impact on the sport's landscape and the tradition of bowl games. More S&P Global content: The Business of Sports  Moneyball: The impact of sports media rights on the US video market   Featured experts: Justin Nielson, principal analyst at S&P Global Market Intelligence Kagan. Scott Robson, principal analyst at S&P Global Market Intelligence Kagan. Michael Johnson, research analyst at S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

The new ESPN app is here and "MediaTalk" has a sneak peek at all of the functionalities. "MediaTalk" host Mike Reynolds sits down with John Lasker, senior vice president of ESPN DTC, to discuss the Aug. 21 launch of the new enhanced app. The app marks a significant milestone for ESPN, aiming to serve sports fans anytime, anywhere, by integrating extensive features and functionalities into a single platform. It also marks a significant moment for the pay-TV industry at large, as live sports have long been viewed as the glue that held the multichannel market together. The app will offer content from all of ESPN's linear networks and access to 47,000 live events for $29.99 a month. Lasker highlights the personalized experience with the introduction of "SportsCenter for You," which tailors content to individual preferences using AI technology. Other notable features allow fans to sync their mobile devices with their TV for enhanced stats and data, and multi-view options for watching multiple games simultaneously. Targeting cord-cutters and younger audiences, the app is designed to be accessible to both traditional pay-TV subscribers and streaming customers. ESPN plans to bundle the DTC product with Disney+ and Hulu, in the hopes of creating a compelling entertainment package. Lasker emphasizes that this launch is not the final product but rather the beginning of an evolving platform that will continue to innovate and engage sports fans. With a robust marketing campaign featuring notable personalities, this episode offers a first-hand look at how ESPN aims to redefine the viewing of live sports. More S&P Global content: MediaTalk | Season 3 | Ep. 19 - Disney's Upfront Unveiled: Navigating the Future of Sports and Streaming Featured experts: John Lasker, Senior Vice President of ESPN DTC Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" host Mike Reynolds sits down with S&P Global Market Intelligence Kagan analyst Lynnette Luna to dive into the US wireless market. At the national level, they focus on the second-quarter performance of the top three operators: AT&T, T-Mobile, and Verizon. T-Mobile continues to lead in subscriber growth and service revenue, showcasing its strong momentum in the market. AT&T is leveraging its convergence strategy, integrating fiber and wireless services to enhance customer retention and drive growth. Meanwhile, Verizon is navigating challenges in retaining postpaid subscribers, yet is stabilizing its performance through prepaid offerings and value-added bundles. Utilizing proprietary Kagan survey data, they also look at what is happening at a city-level, including which players are gaining share. Specifically, the discussion also highlights the increasing influence of cable operators like Charter and Comcast, who are aggressively expanding their mobile services. This episode sheds light on the importance of bundling services to enhance customer loyalty and the emerging opportunities for small and mid-sized businesses in the wireless sector. More S&P Global content: Technology, Media, & Telecoms Featured experts: Lynnette Luna, senior research analyst at S&P Global Market Intelligence Kagan. Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" host Mike Reynolds is joined by S&P Global Market Intelligence Kagan Principal Analyst Justin Nielson to discuss the resilience and challenges faced by AM/FM radio in the digital age. Radio advertising remains predominantly local, with 80% of ad buys coming from local businesses, such as car dealerships and restaurants. Despite softness in the national ad market, local markets with vibrant economies continue to perform well. However, larger metro areas face stiff competition from streaming services and podcasts. To counteract this, companies like iHeart Media and Cumulus are expanding their digital offerings and leaning into live events to boost revenue. On the regulatory front, the radio industry is advocating for the relaxation of local ownership caps, which limit the number of stations a company can own in a market. This could pave the way for strategic acquisitions and regional consolidation, similar to trends seen in the TV industry. Such changes could attract new investors and foster synergies across growing markets, particularly in the Southeast. Overall, while radio faces challenges from digital competitors and technological shifts, its local focus and adaptability continue to make it a viable platform for advertisers and investors alike. As the industry navigates these changes, it remains a crucial part of the media landscape, offering unique opportunities for growth and innovation. More S&P Global content: Technology, Media, & Telecoms Featured experts: Justin Nielson, principal analyst at S&P Global Market Intelligence Kagan. Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

With earnings season in full swing, "MediaTalk" host Mike Reynolds is joined by Melissa Otto, head of Visible Alpha research at S&P Global Market Intelligence. Together, they explore the strategic shifts and content developments among major media conglomerates like Walt Disney, Warner Bros. Discovery, Paramount Global and Fox. Fox's recent fiscal achievements are underscored by its success with the Super Bowl, showcasing the enduring power of live sports in driving viewer engagement and advertising revenue. Otto emphasizes the transformative impact of free streaming platforms such as Tubi, which are reshaping viewing habits and challenging traditional models by offering diverse content without subscription fees. Disney is poised for exciting developments with its enhanced ESPN offering, reflecting the company's focus on integrating sports into its streaming strategy. Meanwhile, Warner Bros. Discovery is navigating the evolving media landscape by separating its streaming and studio operations, a move that could redefine its approach to content distribution. The conversation touches on Warner's strong theatrical lineup, with films like "Superman" and "F1" capturing audience interest through compelling storytelling and star power. However, it also raises questions about rising production budgets. Throughout the podcast, Otto provides insights into how these media giants are leveraging content to adapt to changing consumer preferences and technological advancements. As the industry continues to evolve, the strategies employed by these companies in content creation, integration, and distribution will be crucial in shaping the future of media. More S&P Global content: Apple earnings preview: iPhone expectations continue to move lower Amazon earnings preview: Fiscal Q2 2025 Featured experts: Melissa Otto,  Head of Visible Alpha Research at S&P Global Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" host Mike Reynolds is joined by West Riggs, Head of Equity Capital Markets at Truist Securities, to discuss the dynamic landscape of the tech IPO market in 2025. Despite a soft start to the year, tech IPOs are now gaining steam with a robust pipeline of public offerings ahead. Amid continued volatility in the stock market, the discussion highlights the need for companies to be prepared for rapid market shifts and the importance of optimizing pricing strategies. Riggs shares insights on the trends driving market activity, including a move toward profitability among companies going public, as well as the rise of generative AI. With companies of all sizes increasingly integrating AI into their business models, the episode touches on the burgeoning opportunities for smaller and mid-market players amidst the dominance of the "Magnificent Seven" tech giants. And outside the tech sector, energy-related companies are tapping into equity markets to support the infrastructure demands of AI-driven growth. Finally, Riggs notes a surge in convertible bond issuance and hints at several high-profile IPOs on the horizon, including tech giants like Stripe and Databricks. This episode underscores the vibrant and rapidly evolving nature of the IPO landscape this year. More S&P Global content: Tech IPOs on track for 2025 rebound from post-pandemic slump Where Does the IPO Market Go in 2025? Featured experts: West Riggs, Head of Equity Capital Markets at Truist Securities Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" host Mike Reynolds joins S&P Global Market Intelligence reporter Iuri Struta to talk about generative AI, exploring its profound impact on various sectors and the staggering investment trends driving its growth. Over $78 billion was invested in GenAI companies in just the first half of the year, a figure that is already approaching $100 billion when third-quarter investments are included. Major players like OpenAI and Meta are leading the charge, but a diverse range of startups are also making waves in the application layer, fine-tuning existing models to create innovative solutions. The conversation shifts to a recent webinar on the topic, where experts debated whether the current funding levels indicate a bubble. While many participants expressed concerns about high valuations, they also anticipated that companies would grow into these figures, reflecting the robust demand for AI solutions. The episode not only sheds light on the current state of GenAI funding but also touches on the regulatory landscape, competition for talent, and the sustainability of business models across different regions. Tune in to gain insights into this dynamic sector and understand what lies ahead in the world of Generative AI. More S&P Global content: H1 Review of GenAI Funding: Can the Market Keep Up with Record Volumes? AI supercharged emergence of AI neoclouds despite hazy long-term outlook Featured experts: Iuri Struta, senior reporter at S&P Global Market Intelligence  Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence