The Evolution of Media and Politics
For many years, media and politics have been related on the hips. Politicians leverage media to get their message out to the general public, whereas media makes use of politicians to achieve promoting {dollars} and viewership. All through U.S. historical past, the media has had a dramatic influence on politics and the nation. Within the early 1900s, Teddy Roosevelt needed to journey a prepare all through the nation and tirelessly shout his message at giant crowds. Whereas political rallies of this nature happen as we speak, media has developed a good distance since then. Later, Franklin Delano Roosevelt, Teddy’s fifth cousin who would change into the longest-serving U.S. president, revolutionized communication through radio along with his notorious “Fireplace” chats throughout the Nice Despair and World Struggle 2.
Quick ahead to October 1960, and all the nation was glued to their black and white tv units as Robert F. Kennedy and Richard Nixon participated within the first televised presidential debate. The influence of tv on the 1960 election, and thus, historical past, can’t be understated. JFK in the end received the presidential election after three vicious debates between the 2. Historians usually say that the extra polished Nixon received extra voters who listened to the radio debate, whereas JFK received those that watched TV resulting from his simple charisma.
Media is Evolving Once more
Those that research historical past can level to the wildly in style “Fireplace Chats” and the primary televised debates as monumental shifts in media. Media would by no means return to the way it was earlier than, and politicians would wish to regulate. For the previous 50 years or so, cable tv and information have dominated the media panorama. Nevertheless, the 2024 election marks one other monumental shift in how media is consumed.
Belief in Conventional Media Plummets
In accordance with a current Gallup ballot, American belief in mass media has reached file lows. Solely 31% of People categorical a “truthful quantity” of confidence within the media’s means to report the information “absolutely, precisely, and pretty.”
The Rise of Impartial Media
To carry our journey full circle, let’s talk about Robert Kennedy, the nephew of JFK and former impartial candidate for president within the 2024 election. Although Kennedy in the end misplaced his presidential bid, he was some of the profitable impartial candidates in years. Kennedy chalked up his media success to podcasts, particularly “The All in Podcast.” The All in Podcast is a top-rated podcast with 4 enterprise capitalists who talk about the whole lot from politics to markets.
Increasingly more People are turning to impartial media like podcasts to devour their information. Impartial media permits customers to be extra selective, belief their media extra, entry media on demand, and watch and take heed to long-form podcasts with little interruption (as an alternative of the rushed soundbites on mainstream media). Kennedy is just not the one presidential candidate who leveraged podcasts this cycle. Kamala Harris not too long ago went on the provocative “Name Her Daddy” podcast. In the meantime, Donald Trump joined the “Joe Rogan Expertise” and garnered hundreds of thousands of views.
Winners: Spotify, Apple, Amazon
To this point, streaming supplier Spotify (SPOT) is the most important winner of the brand new media paradigm. In 2020, Spotify reportedly paid comic and MMA commentator Joe Rogan ~$100 million to hitch Spotify. Over the previous two years, SPOT is up practically 400%, and earlier this yr, SPOT renewed Rogan in a $250 million mega-deal.
Picture Supply: Zacks Funding Analysis
Different in style podcasting hubs embody Apple (AAPL), Alphabet (GOOGL), and Amazon (AMZN). Nevertheless, SPOT advantages probably the most as a result of it’s the most centered on the podcasting and streaming enterprise, and the shift strikes the needle greater than mega-cap tech corporations like AAPL and AMZN.
Speculative Media Shares to Watch
BuzzFeed (BZFD)
BuzzFeed is a media agency identified for its viral quizzes, movies, and popular culture leisure. Though the corporate and its inventory have sunk in recognition, former 2024 presidential candidate Vivek Ramaswamy injected life into the inventory earlier this yr by taking an activist stake in it.
Trump Media & Tech (DJT)
DJT is the mum or dad firm of Donald Trump’s “Fact Social” platform. The corporate is unprofitable and much much less in style than Elon Musk’s X platform. That mentioned, traders are piling into the corporate as they anticipate a Trump victory. Shares are up greater than 200% in October alone.
Rumble (RUM)
Rumble is a video-sharing platform aimed toward right-wing customers. The platform was created as a substitute for YouTube, and is in style amongst right-wing customers.
Backside Line
The 2024 presidential election marks a meteoric shift in media consumption from conventional to impartial media. Spotify is the large winner.
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