Bloomberg Intelligence's Geetha Ranganathan joins BTV to discuss media industry's big pitch to advertisers, and Fox's new streaming service.

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

Global Tariffs

Television networks are continuing to face challenges in attracting advertising dollars, with recent trends showing a decline in linear TV advertising. Over the past few years, linear TV advertising revenue has dropped by approximately 15 percent, a decrease attributed to consumers shifting their viewing habits towards digital and streaming platforms. This shift has resulted in advertisers adopting a more cautious approach when planning their spending.

Despite ongoing developments in global trade relations, industry analysts report that sentiment among advertisers remains generally weak. While improvements in trade tensions, such as between China and the United States, may offer some positive impact, the overall market remains conservative, with advertisers opting for a wait-and-see stance.

In contrast, streaming platforms such as Netflix, Peacock, and Amazon Prime are experiencing stronger demand for advertising. The advertising market for connected TV has remained resilient, with connected TV ad spending increasing by approximately 11 to 12 percent in the previous year. Market observers expect this growth trend to continue, in contrast to the anticipated pullback in advertising for traditional networks, except in the area of live sports, which remains robust on linear television.

Fox has introduced a new streaming service, Fox 1, combining news, sports, and entertainment content. The company has maintained a disciplined strategy towards streaming, focusing on live sports and news rather than entering the broader streaming wars. Fox 1 is intended to target the 65 million broadband households not currently part of the pay TV ecosystem, rather than traditional television subscribers.



TV's pitch to advertisers runs headlong into tariffs

Does the news that we have some kind of detente in the China U.S. trade war help matters here in terms of advertisers being more willing to bid up the prices that they're willing to spend. It could scarlet on the margin. But overall you have to remember that the sentiment generally has been pretty weak. So in general we've seen the TV networks face kind of this decline in ad dollars over the past few years. We've seen a decline of about 15 percent totally in linear TV advertising as we've seen consumers kind of move more to digital versions and digital options and streaming platforms. Yes this is the new study of China definitely can have a little bit of a positive impact. But I think in general we are seeing kind of advertisers really take a wait and see approach. So very very cautious stance that we're seeing overall in the advertising market. Right. That makes a lot of sense. What about companies like Netflix and Max that will be or less so Max. But Netflix in particular and Peacock these streaming services that do offer advertising. Amazon Prime included in there. Are they facing the same level of resistance perhaps and reluctance that the networks the broadcast networks face. Not so much because you know advertising dollars ultimately chase eyeballs and a lot of the eyeballs are now moving away from the linear TV networks. Other than sports sports is still very very robust on linear television. But other than that when you look at general entertainment viewing all of that is moving now to to the to the digital platforms like a Netflix like an Amazon Prime. So we expect the connected TV advertising market actually to hold up pretty pretty well. Last year we saw the connected TV ad up front actually go up about 11 to 12 percent. And you know most folks are predicting that it will go up this year as well in stark contrast to linear TV where we expect a pullback. OK so that continues split between streamers and the traditional networks. Let's talk very quickly about Fox and its new streaming service that combines news sports and entertainment content. It's going to be called Fox 1. What are the prospects here for this service. So Fox Scarlett has taken a very very disciplined approach to streaming. Remember when everybody was spending money hand over fist fighting the streaming wars trying to gain all those subscribers. Fox really kind of doubled down on television and really took a very very focused approach on live sports and news. And this product again it is not aimed at your traditional TV subscriber. Remember Fox makes a boatload of money from their traditional TV bundle. They make almost nine to ten dollars per subscriber per month. So the real target here is for people who are outside the pay TV ecosystem. They do not. Yes they are targeting the 65 million broadband households outside the TV ecosystem.

Officials in the U.S. state of Texas say at least 13 people have died in overnight flash floods after torrential rains triggered an overflow of the Guadalupe River. Nearly 20 children attending a summer camp in the south-central area are missing.

Kerr County

Deadly Texas floods: Search efforts underway for missing children

Türkiye has been battling wildfires for more than a week, with its western province of Izmir among the hardest hit. Thousands have been forced to flee as flames threaten homes and villages.

Ödemiş

Turkiye wildfires: At least two dead as fires burn for eighth day

It was not clear if Hamas’ statement meant it had accepted the proposal from US President Donald Trump for a 60-day ceasefire.

Jerusalem

Hamas says it is  'positive' about latest ceasefire proposal

President Trump brought pomp and circumstance to his signing of the "big, beautiful bill" on Friday, with an Independence Day ceremony at the White House that included a B-2 bomber flyover.

Washington

Trump signs "big, beautiful bill" as tariff deadline looms

Heavy rainfall in central Texas caused the Guadalupe River to overflow and unleash a torrent of water. The bodies of at least 13 children and adults have been recovered and more than 20 girls are missing from a sleepaway camp.

Floods kill at least 13 in Texas, over 20 missing from summer camp

The talk comes a day after President Donald Trump and Russian President Vladimir Putin discussed Ukraine, Iran and other issues in a call the Kremlin described as "frank and constructive."

Kyiv

Ukraine Invasion

Zelenskyy, Trump agree on joint defense efforts in phone call

Russia pummeled Kyiv with the largest drone attack of the war, injuring at least 23 people and damaging buildings across the capital only hours after U.S. President Donald Trump spoke with Russia's Vladimir Putin, officials said.

Russia hits Kyiv with largest drone attack after Trump-Putin call

U.S. President Donald Trump marked the passage of the new spending bill, which includes changes to food assistance, student loan programs, and clean energy credits. Robert Costa joins "CBS Mornings" to break down what's in the legislation.

Trump set to sign "big, beautiful bill"

More than 80 Palestinians were killed in Gaza on Thursday (July 3), according to health officials, as Israel intensified its strikes, hitting a school-turned-displacement facility. CNN’s Paula Hancocks looks at the damage and humanitarian toll.

More than 80 people killed in Gaza in one day

Ukrainian President Volodymyr Zelenskyy said Kyiv will do "anything" to advance EU accession talks. Zelenskyy spoke alongside Danish Prime Minister Mette Frederiksen, President of the European Council António Costa and President of the European Commission Ursula von der Leyen.

Ukraine will do 'anything' to advance EU accession talks: Zelenskyy

President Donald Trump said Washington will start sending letters to countries on Friday specifying what tariff rates they will face on imports to the United States, a clear shift from earlier pledges to strike scores of individual deals.

Trump: Letters telling countries their tariff rate going out Friday

Indonesian rescuers on Thursday (July 3) temporarily halted a search for 30 people still missing after a ferry carrying 65 people sank near the island of Bali with the loss of six lives, the national search and rescue agency said.

Gilimanuk

Indonesia suspends search for 30 missing after ferry sinks near Bali

After marathon debate sessions in the Senate and House, President Donald Trump’s budget bill passed in the House. Republicans secured the biggest win of Trump’s presidency.

Trump’s landmark ‘big, beautiful bill’ narrowly passes U.S. House

Florida says the first group of migrant detainees have arrived at the new immigration detention center known as "Alligator Alcatraz." CBS News correspondent Shanelle Kaul has more.

Ochopee

First group of detainees arrive at "Alligator Alcatraz," Florida says

U.S. President Donald Trump said Thursday (July 3) that he spoke with Russian President Vladimir Putin and that he plans to hold a call with Ukrainian President Volodymyr Zelenskyy. CBS News White House reporter Willie James Inman has more.

Trump speaks with Putin, plans call with Zelenskyy

CNN’s Priscilla Alvarez reports on a lawsuit from lawyers for Kilmar Abrego Garcia alleging he suffered “torture and mistreatment” after he was wrongfully deported and held in El Salvador’s notorious mega prison.

Tecoluca

Kilmar Abrego Garcia claims he was tortured in El Salvadoran prison

The Kremlin welcomed the development, with spokesman Dmitry Peskov claiming it proves Western arsenals are being depleted and predicting that less aid will hasten the end of the conflict.

U.S. pauses military aid to Ukraine over depleted weapons stockpile

Two contractors employed by UG Solutions spoke to the AP on condition of anonymity as they were revealing their employers’ internal operations.

U.S. contractors say live ammo used at Gaza aid distribution site

Democratic leader Hakeem Jeffries spoke for hours on the House floor about potential impacts of President Trump's "big, beautiful bill" that Republicans are looking to pass before July 4. Following debate, the House is set for a final vote on the massive budget bill.

House debates Trump's 'big, beautiful bill' ahead of final vote

CBS News political contributor Caroline Polisi joins "CBS Mornings" to break down the jury's verdict in Sean "Diddy" Combs' federal trial and the judge's decision to deny bail for the music mogul ahead of his sentencing.

Manhattan

Sean "Diddy" Combs denied bail after split verdict

Liverpool soccer player Diogo Jota has died aged 28, just weeks after marrying his childhood sweetheart. The footballer passed away in a car crash in northern Spain.

Madrid

Liverpool soccer player dies in car crash 10 days after wedding

The Pentagon said that U.S. strikes 10 days ago had degraded Iran's nuclear program by up to two years, suggesting the U.S. military operation likely achieved its goals despite a far more cautious initial assessment that leaked to the public.

Tehran

Iran Strikes

Iran nuclear program degraded by up to two years: Pentagon

Days before his 90th birthday, the Dalai Lama announced the Gaden Phodrang Trust, a non-profit he founded, will have the sole authority to recognize his future reincarnation, but China insists it will choose the successor of the Tibetan spiritual leader.

Lhasa

China rejects Dalai Lama’s succession plan

The U.S. Congress inched towards approving President Donald Trump’s Big Beautiful Bill, despite attempts by Democrats to stop it. The bill is Trump’s signature legislation which includes massive spending increases on the military and immigration enforcement while slashing social programs.

Trump’s Big Beautiful Bill nears approval

Sean (Diddy) Combs was found guilty on prostitution-related charges, but was acquitted on more serious charges of racketeering and sex trafficking giving him a maximum sentence of 20 years. But the courtroom victory was subdued following a judge’s ruling to deny him bail.

New York

Diddy denied bail, avoids life in prison

President Trump says Israel has agreed to a 60-day ceasefire in Gaza, but it remains unclear if Hamas will accept the terms. CBS News senior foreign correspondent Debora Patta has more.

Trump says Israel has agreed to Gaza ceasefire conditions

Bryan Kohberger changed his plea to guilty Wednesday for the 2022 murders of four University of Idaho students. CBS News national correspondent Carter Evans has more on the case.

Boise

New details revealed as Kohberger pleads guilty for 2022 Idaho murders

The Wisconsin Supreme Court struck down a state abortion law that was adopted in 1849 in a 4-3 landmark decision. CBS News' Shanelle Kaul reports.

Madison

Wisconsin Supreme Court strikes down 176-year-old state abortion ban

Macron and Putin held regular discussions around the start of Russia's invasion of Ukraine, with Macron visiting Putin in Russia in February 2022, but dialogue eventually stalled.

Paris

Macron held 'substantial' phone call with Putin

President Trump toured “Alligator Alcatraz,” a migrant detention center he teamed up with Ron DeSantis to build in the Everglades.

See The Full Story

Global Tariffs