The CW's Bold Bets, Facebook's Media Breakup and the Threads Opportunity

Network president Brad Schwartz is shaking up the schedule [brad-schwartz-the-cw-jeff-weiner]( [The CW’s Brad Schwartz Knows Not All His Content Swings Will Hit: ‘That Was Certainly by Design’]( By Kayla Cobb There’s a joke thrown around The CW offices: “We have more fans than viewers,” the network’s president of entertainment Brad Schwartz told TheWrap in a recent interview. It’s a good line, one that alludes to the network’s dedicated fanbases that routinely make small-audience shows like “Nancy Drew” and “Gotham Knights” trend on Twitter. But it’s also a joke that nods to why the network is in the middle of such a massive transition following its 2022 acquisition by Nexstar. For Schwartz, The CW’s future is dependent on both retaining the passionate audience that’s been loyal to the brand over the past 20 years, and diversifying so it can compete with its network peers. [Read More]( --------------------------------------------------------------- [Facebook is failing media art by Christopher Smith / TheWrap]( [‘The End of an Era’: Facebook’s Final Days of Partnership With News Media Are Here]( By Robert Carnevale Some people are still grappling with the idea that Facebook is no longer a reliable partner for media — one that provides a gusher of traffic in exchange for encouraging users to share links. News flash: Meta’s flagship app hasn’t been reliable for a long time. And it won’t be for the foreseeable future. This reality has a corporate body count. A whole cohort of brassy and ambitious media startups betting on social distribution, like BuzzFeed and Vice, has been humbled. And while their struggles are well documented, many smaller media operations, particularly hyperlocal publishers who are sometimes the only thing standing between their communities becoming news deserts, have been feeling the pain of Meta’s retrenchment. [Read More]( --------------------------------------------------------------- [Mark Zuckerberg on a wild ride]( [With Threads, Meta Has Plenty of Opportunity and Underappreciated Risk]( By Alex Kantrowitz The updates came swiftly from Mark Zuckerberg. Threads, his Twitter copycat, hit 2 million users within two hours of its launch on Wednesday. Then 10 million within seven hours. Then 30 million the next morning. “Feels like the beginning of something special,” Zuckerberg posted. By Thursday afternoon, Elon Musk threatened to sue. By Friday, Threads hit 70 million users, according to Zuckerberg. With a fast expanding userbase and support from its parent company, Threads appears destined to stick around for a bit. And while there’s opportunity for Meta, its emergence is not without risk. In its pursuit of cultural relevance and added revenue, Meta’s opened itself to distraction in its fight against TikTok. Threads may also dilute its core apps, weakening their network effects. [Read More]( --------------------------------------------------------------- [Office with a View of Elsa Ramo (Photo credit: TheWrap, Dennis Trantham/Westside Studio)]( [For Hollywood Attorney Elsa Ramo, ‘Creative’ Deals Are Key]( [Threads app press imagery]( [Instagram Head Says Threads Isn’t Trying to ‘Replace’ Twitter]( [Grease: Rise of the Pink Ladies]( [What Paramount+’s Cuts Mean for Subscribers | Chart]( [indiana jones and the dial of destiny disney]( [‘Indiana Jones 5’ Drives Viewers to Disney+ for More | Chart]( --------------------------------------------------------------- [Wrap Pro logo] Discover why entertainment executives and professionals rely on the WrapPRO platform daily for exclusive coverage, analysis, deeper reporting, and access to VIP events & screenings throughout the year. [Subscribe Today]( --------------------------------------------------------------- [Facebook]( [Twitter]( [Instagram]( [YouTube]( TheWrap | 2034 Armacost Ave Los Angeles, CA 90025 [Preferences]( | [Unsubscribe](