Kicking Off the New Year With Some Industry Jousting

• JCPA Put on Indefinite Hold -- Members of Congress punted on a media industry-backed bill that attempts to allow publishers and broadcasters to negotiate revenue sharing arrangements for their content when it is posted on tech-giant platforms like Google and Meta. The Journalism Competition and Preservation Act was authored by Sen. Amy Klobuchar (D-MN.) and widely supported by media industry trade groups and individual media organizations. Its provisions generated a host of strange bedfellow coalitions among progressives and conservatives.

Ultimately, this is a fairness issue; news organizations deserve to be compensated when big platforms distribute their content. Don't place any bets that it will simply go away. While the recipe in the current proposal may not have been "just right," the stakeholders in this debate -- many of whom are MFM members -- will be back at the bargaining table this year.

• FTC Attempts to Curb Tech Giant Expansion --A Federal Trade Commission lawsuit blocking Microsoft's acquisition of video game maker Activision highlights two dynamics impacting the media and entertainment industry. First, regulators are serious about limiting the power of tech giants. Second, video games are an incredibly important component of the industry's future.

This New York Times article provides an effective overview. Reading it reminded me of a general session speaker at the 2022 MFM Annual Conference, who remarked: "If you do not own a video game company today, I suggest you leave this room right now and purchase one."

• The Post Considers Selling Arc -- The increasingly important relationship between technology and the media business was underscored by this Wall Street Journal article about the potential spinoff of an in-house publishing tool developed by The Washington Post's tech team. The bonds between media, entertainment, and technology is transforming how content is produced, distributed, and consumed, And they will play an enormous role in delineating successful companies from irrelevant ones.

The success of members is always front and center with MFM. We help members peer around the corner and see what's coming by providing lots of educational sessions -- and sharing news stories like those I've highlighted here.

I have no doubt that you, too, have been struck by certain developments that have been in the news. And I'd like to know what they are and possibly share them in this column. If any spring to mind, please reach out to me at joe.annotti@mediafinance.org.

One of the very best ways of giving and receiving vital information is by attending the MFM Annual Conference, which takes place May 22-24 in Los Angeles. It's exclusively devoted to educational sessions focused on issues most important to financial professionals in the media and entertainment industry. There's never been a better time to register than right now! Click here for more information on the agenda and online registration.

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The opinions expressed here are the author's views and do not necessarily represent the views of MediaVillage.com/MyersBizNet.