Media Biz Cheat Sheet: Facebook’s Value Doubles in 2011, CBS Tops Monday Night Ratings
Comcast (NASDAQ:CMCSA) executives “feel pretty good about how the business is performing” during the back-to-school period, according to Chief Financial Officer Michael Angelakis, speaking at an analyst conference in New York but declining to give updated financial guidance for the quarter.
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Facebook is expected to reach $4.27 billion for 2011, of which $3.8 billion is comprised of advertising revenue. That figure is twice the social networking company’s 2010 total. The firm is expected to rake in $5.78 billion in global ad sales next year. Meanwhile, Facebook Credits — virtual currency allowing users to buy game-related items — will generate $470 million in 2011, up from $140 million in 2010.
Activist group People for the Ethical Treatment of Animals (PETA) will roll out a pornographic website this fall to promote its animal rights agenda. While PETA has used nudity and porn stars in its advertising campaigns in the past, this is the first purely pornographic site. PETA has applied for the peta.xxx domain name, which could be approved as soon as November.
CBS (NYSE:CBS) raked in 28 million viewers for the premiere of “Two and a Half Men”, now Sheen-less and in its ninth season. With Ashton Kutcher now at the helm, the show received a 10.3 rating in its Monday night 9 p.m. time slot. CBS also did well with back-to-back episodes of “How I Met Your Mother”, and closed out the evening with “Hawaii Five-O”.
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Media Rights Capital has closed a five-year, $350 million revolving credit facility allowing the independent studio to grow its film and television businesses while further developing pre-existing projects. The financing was provided by a group of banks led by JPMorgan (NYSE:JPM), Comerica (NYSE:CMA), Bank of America (NYSE:BAC), SunTrust (NYSE:STI), and Union Bank (NASDAQ:UNB).