May 18, 2022

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― Key Stories

Drug Tunnel Discovered 
Overview

• US agents found a 1,744-ft (531m) tunnel connecting Tijuana, Mexico to San Diego, California
• They found $25M worth of drugs in the tunnel, which was 61-ft (18m) under ground and 4-ft (1m) wide. It had a rail system, electricity, and ventilation
• Last Friday, the officers were scoping out a drug stashhouse they saw several cars visit. Upon investigating, they found an opening in the floor which led to the tunnel
• It’s the 91st tunnel of this sort found since 1993, but the first since 2020. It’s the longest drug tunnel ever identified by US authorities

Mariupol Falls
Overview

• On Tuesday, Ukrainian troops surrendered to Russians in Mariupol, ending a 2.5-month siege
• Mariupol is the first major Ukrainian city to fall to Russia, whose assault left the city in ruins and killed an estimated 10,000+ civilians
• Since April, Ukrainian civilians and troops had been hiding out in a steel factory on the city’s outskirts. The civilians were evacuated in recent weeks
• 260+ Ukrainian troops were taken to Russia-occupied regions of Ukraine, where their fates remain unclear. Ukraine wants a prisoner swap; Russia hasn’t publicly agreed as of print

Congress Holds UFO Hearing 
Overview

• US Congress held its first public hearing on UFOs since 1966
• US House members grilled defense officials about whether UFOs, which the government calls unidentified aerial phenomena (UAPs), are a security threat
• Defense officials dispelled speculation of any immediate threat, although they did say there is  an “increasing number of unauthorized and or unidentified aircraft or objects,” which they attribute to better tracking
• The officials did not disclose much, saying they needed to keep US capabilities secret

I Saw You Blink. That Will Be $18
Overview

• Mastercard is rolling out a biometric payments system that lets people make payments without a device or card
• The first public tests launch at supermarkets in Brazil this week. Customers who enroll in the service will be able to pay with gestures
• The new payment terminals use facial recognition software to verify the purchaser’s identity
• The tech has raised security concerns, although Mastercard says that when users enroll, their faces or fingerprints are stored as a random string of characters, protecting their privacy and identities

See yesterday's results below the Wrap!

 Popcorn

Culture & Sports

• GOAT roast: Tom Brady will be the first subject of a Netflix comedy roast series. His roast will take place in 2023, after the NFL season
• Never tell me the odds: Harrison Ford will star in 1932, the prequel to Yellowstone. It's his first time starring in a TV series in decades
• Bad news for grocery checkout: People Magazine may soon end its weekly print version. People was once the most-read US magazine

• We have the pee: An Arby's manager has been accused of urinating in a milkshake mix that could've been served to dozens of customers
• Where is the love? New data show that only 1.6M marriages took place in 2020, the lowest number since 1963
• The Canadian painting that was traded for a grilled cheese in 1973 ended up selling for a whopping $272,000 at auction this week
• Kim Jong-Ill: A week after reporting its first Covid case, North Korean state media have reported that 1M+ people are ill with a "fever"

― Roca Wrap

A Newsletter Exclusive

Is your favorite show canceled or not? This is the week you may find out.

This week is upfronts, during which Hollywood actors, executives, and other players come to New York City to pitch their fall lineups to advertisers. The tradition dates to 1962, when ABC gave the first upfront presentation to see how advertisers felt about its upcoming lineup. Other broadcast networks began doing the same, and the third week of May became upfronts week. 

By virtue of networks announcing their fall lineups, upfronts is the week when it becomes clear which shows have been picked up or canceled. Networks also announce the dates that they will be airing their new series.

The big media businesses mark upfronts with presentations, breakfasts, celebrity events, dinners, roasts, parties; networks and advertisers woo each other into striking deals for advertising over the coming months.

“Every single brand and marketer and advertiser comes in for the upfront week,” Disney’s top advertising exec told the New York Times. For context, ad buyers spent $40B on national television advertising last year. 

The last 2 upfronts have been totally remote, and this one is a hybrid. Some events are in person; others require masks or vaccination. Disney’s requires a same-day negative Covid test. 

This year’s is different for another reason, too: Streaming advertising. 

For years, subscription streaming has eaten away at the television advertising market: In 2019, just 10% of video advertising budgets went to streaming; now nearly 50% do. Yet even so, many streaming platforms refused to sell space to advertisers, Netflix being the most prominent example. 

Now, though, that’s changing: With declining subscriber numbers and a higher cost of living leading people to spend less on subscriptions, Netflix just announced that it is considering launching an ad-based version. Disney+ is considering the same. Meanwhile, Tubi and Pluto – free, ad-supported streaming platforms owned by Fox and Paramount, respectively – have been doing well. 

All of that leaves the streaming services joining the fray of this year’s upfronts. Get ready for more ads coming your way. 

― Hump Day Pics

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― Final Thoughts