Premium Content Alliance reshuffles investment, Foxtel departs
Three years after going to market as a bundled industry body, the Premium Content Alliance has dialled back its investment in ThinkPremiumDigital in a move to redeploy resources to ThinkTV and ThinkNewsBrands, all while founding partner Foxtel departs.
It is understood that ThinkPremiumDigital will be preserved as an entity in the alliance. However, a source said half of its current 12 employees were made redundant, while the other half were moved to ThinkTV and ThinkNewsBrands.
At launch, ThinkPremiumDigital was said to “demonstrate the power and effectiveness of advertising in premium digital content to help advertisers grow their brands and deliver business results”.
However, digital has become increasingly embedded in legacy media strategies, and it was understood that the industry body was looking to reflect that in its structure.
ThinkTV and Premium Content Alliance CEO, Kim Portrate said it’s a business pivot after weighing up the body’s priorities.
“We’ve reviewed our priorities for FY24 across the business, and we have deployed the resources we think we need to address those priorities.
“The outcome is we want to make ThinkTV and ThinkNewsBrands the most effective they can be for the industry, and that’s all about proving the value of Total TV and Total News.”
ThinkNewsBrands’ executive general manager, Vanessa Lyons, said the changes are de-duplicating, rather than reallocating.
“We’re just resourcing differently,” she said. “We are de-duplicating across the teams but still using digital as a key channel.
“ThinkNewsBrands still has the same remit, we’re just amplifying that with digital and the staff changes reflects this,” she added.
Founded in 2020, the alliance’s stakeholders included Network 10, Seven West Media, Nine Entertainment Co, Foxtel Media, Foxtel Group and News Corp Australia, among others.
As part of the review, Foxtel has left the Premium Content Alliance and ThinkTV.
Foxtel Media chief executive officer, Mark Frain, confirmed Foxtel’s departure: “Foxtel Media has strategically made the decision to exit ThinkTV given our single-minded focus on digital transformation into a data and streaming-led advertising business.”
“Cost was not a consideration in this decision,” he said.
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Darcy Song was a reporter at Mumbrella, covering media owners, adtech and social platforms. She left in October 2023.
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‘Digital has become increasingly embedded in legacy media strategies.’
Really now?
I think you’ll find it’s the polar opposite. Maybe this ‘thinking’ is why this ‘Think’ mob are clearly in a death spiral.
Spruiking MAFS nip-slips and Murdoch lies is hardly ‘Premium’
Lipstick on a pig, Ladies.
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