Twitter has a new owner as several outlets like NBC News report that the Tesla CEO Elon Musk has reached a deal to buy the social media platform.
The entrepreneur is buying Twitter and taking it private. Twitter’s board of directors unanimously decided on Musk’s offer to purchase the social media platform for $44 billion.
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Musk said in a statement.
“I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”
According to the New York Times, Musk said last week that he had lined up $46.5 billion in financing to buy Twitter, putting pressure on the company’s board to negotiate a deal.
The Times cites people with knowledge of the situation who it did not identify. It says the two sides are discussing details including a timeline and fees if an agreement were signed and then fell apart.
Commenting about the importance of purchasing Twitter, Musk cited the event as “important to the function of democracy.”
Ryan Hedrick works for WIBC in Indianapolis as a Morning News Anchor/Digital Content Producer. Prior to moving to Indy, he served as Assistant Program Director and Co-Host of the Morning News Express at WFMD. His career also includes stints at News Talk 103.7 FM in Chambersburg, PA, Sirius XM in Washington D.C., WBEN in Buffalo, NY, and WIBW-AM in Topeka KS where he earned the Kansas Association of Broadcasters (KAB) award for Major Market enterprise reporting in 2016. To connect with Ryan, find him on Twitter @SureToCover.
NAB President Curtis LeGeyt: ‘I Don’t Think Nostalgia Should Be Enough to Save AM’
“AM is not good business for automakers.”
NAB President Curtis LeGeyt appeared on Texas Public Radio for an in-depth discussion on the state of the AM for Every Vehicle Act and the future of AM radio. Furthermore, LeGeyt was blunt on one stance that shouldn’t be the reason to save AM radio.
“I don’t think nostalgia should be enough to save AM,” LeGeyt said on KSTX San Antonio’s The Source.
The standout moment from the discussion with LeGeyt was regarding the decision to cut AM, which was coming from a place of removing in-car free entertainment. He noted the automakers’ reasons for possibly making this decision, “Don’t pass the smell test.”
“These auto manufacturers want to make sure they can monetize anything happening in an automobile,” LeGeyt added. “AM is not good business for automakers.”
Congress is actively supporting the AM for Every Vehicle Act. The interview on Texas Public Raider ended with the NAB president addressing the future of radio without dashboard access. LeGeyt warned that if radio were not accessible in cars, it would jeopardize its viability.
Futuri Partners with RCS to Resell AI-Powered Software Outside U.S.
“We’re proud to partner with Philippe Generali and the fantastic team at RCS to help bring our solutions to the global markets that need them.”
After the debut of its SpotOn and Futuri AudioAI features, Futuri has announced a new partnership with leading broadcast software company RCS to integrate its software and resell it outside the United States.
The announcement of the new partnership comes after the company has already agreed to deals with new partners in both Germany and France.
RCS will resell Futuri AudioAI, which was previously known as RadioGPT, and the company’s new spec spot, commercial, and promo software SpotOn for the Cleveland-based broadcast technology firm.
“Futuri has driven the conversation about the adoption of AI in the broadcast industry, and the response we’ve had from companies worldwide that want strategic AI solutions has been vast,” said Futuri Founder and CEO Daniel Anstandig. “We’re proud to partner with Philippe Generali and the fantastic team at RCS to help bring our solutions to the global markets that need them.”
“Expanding upon our collaboration with Futuri, we leverage our respective strengths to propel new technology on a global scale,” said RCS President and CEO Philippe Generali. “This partnership represents a noteworthy milestone in the evolution of audio creation and consumption. We are excited to reshape the media landscape, a tradition we have upheld for decades.”
IAB Study: Audio is Best Platform For Capturing Attention
“Audio is the one medium that is surpassing dentsu norms.”
The Interactive Advertising Bureau (IAB) presented a recap webinar on Tuesday, with the importance of audio and its commanding attention being the lead topic.
Dentsu collaborated with Lumen Research to conduct three studies on audio formats, including podcasts, radio, and music streaming. The studies revealed that audio outperforms video to grab people’s attention and generate brand recall.
“Audio is the one medium that is surpassing Dentsu norms,” Audacy Senior VP of Research and Insights Idil Cakim told Podcast News Daily. “It’s a wonderful cross-media platform snapshot talking about the importance of audio and the attention that it commands.”
Dentsu conducted a study to analyze how audience attention affects brand recall. The study found that audio ads outperformed other advertising campaigns analyzed by Dentsu, achieving a brand recall accuracy of 41%, which exceeds the average of 38%.
Additionally, the brand choice uplift for audio ads was 10%, nearly double the norm of 6%. Researchers largely ignored audio when studying attentiveness for video until Dentsu and Lumen Research’s Attention Economy project in July.
During Tuesday’s IAB Zoom discussion, PwC’s ad forecast was revisited. The estimates project that podcast revenues will increase by 25% year on year, reaching $2.3 billion by 2023 and $4 billion by 2025.