Yesterday, while at a Google TV ads conference, NBC head Jeff Zucker noted that TiVo is the number one show on at 10pm. Last year at a conference, Zucker made a similar remark on the future of television, saying "Why should I trade analog dollars for digital pennies."
While Google reported its first ever decline in quarterly profits, its Q4 revenue jumped 18% to $5.7 billion. The increase, which may seem positive, is the first time Google has posted growth revenue under 30%. A most impressive quarter in a down trending economy.
Google is blaming its profit decline on writedowns from investments in AOL and Clearwire, the Wi-Max wing of Sprint Nextel. Google took a $726 million impairment charge on a $1 billion investment it made in AOL in 2005. Based on the investment, analysts have noted that Google must consider AOL to be worth $5.5 billion, roughly $1.5 billion lower than Jeff Bewkes's reported asking price.
Microsoft has confirmed plans to cut 5,000 jobs. The move comes after the company posted an 11% decrease in quarterly profit. The news shocked investors, who unloaded shares, bringing MSFT to its lowest trading price in over a decade.
Sony is reporting a $3 billion annual loss. Of the news, Sir Howard said "The massive economic upheaval being experienced across the world is sparing no one in the consumer electronics world." Sir Howard Stringer noted that not only is the global economy in shambles, but consumer are apprehensive to buy and retailers are going bankrupt and liquidating like wild fire.
The Screen Actors Guild will not be going on strike any time soon. National Executive Director Doug Allen has proposed plans to suspend the strike-authorization vote, a controversial issue which has caused a great deal of tension inside the organization. All things considered, the time certainly isn't right for a strike, as it will only adversely affect an already brittle economy.
Shelly Palmer is a consultant and the host of MediaBytes a daily show featuring news you can use about technology, media & entertainment. He is Managing Director of Advanced Media Ventures Group LLC and the author of Television Disrupted: The Transition from Network to Networked TV (2008, York House Press). Shelly is also President of the National Academy of Television Arts & Sciences, NY (the organization that bestows the coveted Emmy® Awards). You can join the MediaBytes mailing list here. Shelly can be reached at firstname.lastname@example.org