ADWEEK On Background newsletter

Click here to view this email in your browser Hello, and welcome back to On Background. This is Mark Stenberg, the senior media reporter at ADWEEK, writing to you from our sunny offices in Union Square. The last few days have been a whirlwind. After sending my newsletter last week, I still had two more days of Advertising Week to attend, which included a press dinner at Hawksmoore and a panel discussion alongside Joakim Noah and Megan Rapino, who when paired together are a remarkable contrast in height. Over the weekend I attended my first Jets game, courtesy of the fine folks at Hellman's Mayonnaise, and on Tuesday I swung through a cookbook launch party for Ryan Bartlow’s Essentially Basque, hosted by Caper. To say I need to eat a salad would be an understatement, but there is little respite on the horizon. October is the best month in New York and the brands all know it, meaning there is something unmissable nearly every day. Next week I will be in Orlando for the ANA Masters of Marketing conference, where I will be interviewing the AI actress Tilly Norwood on stage. More on that soon, assuming she manages to avoid lapsing into Cantonese. In my feature this week, I look into Outdoor Life, the 128-year-old publisher that was sold (again) last week to a newly formed holding company, called eFormed. The firm plans to implement a content-to-commerce model at the outlet, meaning it hopes to produce content and facilitate product sales on-site. The idea is beguiling in its simplicity, but, as loyal readers will recall, it has worked terribly for just about every other media company that has tried it. But now there is AI, so maybe this time will be different? For Quote/Unquote, I spoke with Chris Balfe, CEO and cofounder of the podcast company Red Seat Ventures. The firm helps monetize some of the most popular shows on the planet, including Ashley Flowers’ Crime Junkie, and embraced video long before the rest of the industry caught on. As a result, Fox snapped up Red Seat last February, providing the company with a sizable war chest and a mandate to bring in new talent, such as the deal it penned last month with Caleb Hammer. And as always, at the bottom of the newsletter you will find my favorite stories from the week that was, including writing from The Guardian, The New Yorker, the Seattle Times, and Kneeling Bus. Replies to this email go straight to my inbox, so feel free to reach out with tips, pitches, and feedback. You can reach me at mark.stenberg@adweek.com or on Signal at 210-705-3284. If you are not yet subscribed to On Background, you can click here to do so for free. MARK STENBERG, SENIOR MEDIA REPORTER, ADWEEK mark.stenberg@adweek.com | @markstenberg If you were forwarded this newsletter, you can sign up here. TALKING HEDS ABG Media (EXCLUSIVE): On Monday, the licensing company Authentic Brands Group hired Lark-Marie Anton as its chief communications officer, a newly created role. The firm, which acquires companies and licenses out the rights to operate them, owns an expanding library of brands, including media titles like Sports Illustrated. Its decision to hire Anton, who was previously the chief communications officer at USA Today Inc., signals its interest in growing its media business, which makes up around 20% of its revenue currently, according to CEO Matt Maddox. The company generates $1.8 billion in earnings on $2.2 billion in revenue—an astounding 81% margin, owing to its low-cost business model—and is preparing to join the public markets next year. Among other responsibilities, Anton will be tasked with presenting a cohesive corporate narrative to investors—no small feat given its grab-bag of brands, which include Reebok, Brooks Brothers, and the IP rights associated with Elvis Presley. Breaking and Entering and Dating: The creator duo behind Breaking and Entering, a social franchise dedicated to covering the advertising industry, have launched an outlandish campaign to promote their upcoming