More digital-native studios are launching linear streaming channels to get in on the growing share of advertising dollars that are shifting to over-the-top streaming (OTT) platforms.
By 2020, ad spending on OTT platforms in the US is forecast to hit $5 billion, 85% more than the spending levels two years earlier, estimates from the ad-buying group Magna Global show.We want to make sure that we capture the eyeballs as well as the ad dollars."
"Quite frankly, the ad dollars are also moving to the OTT platforms. "We've been seeing the audience shift to OTT increasing," a Whistle exec said.The digital-entertainment company Whistle is the latest to go over the top with a 24-hour streaming channel, WhistleTV, that will land on at least two ad-supported OTT platforms later this year, the company told Business Insider.More digital-native studios are launching linear streaming channels to get in on the growing share of advertising dollars that are shifting to over-the-top streaming (OTT) platforms.By so doing, McClintock charged, she “undermines the moral authority of the Legislature to sit in judgment of the commissioner.Account icon An icon in the shape of a person's head and shoulders. Assemblyman Tom McClintock (R-Northridge), while noting that her whistle-blower actions were “in the highest tradition of public service,” lectured Ossias for possibly breaking the law by leaking confidential documents. The morning was positively pleasant, with Democrats on the committee asking carefully scripted, friendly questions of their star witness.Īfter lunch, however, it was the Republicans’ turn.
Monday’s hearing was something of a bipolar experience for Ossias. “If we had complaints about insurance companies, which most of us did, she would help us in any way she could.” “She was our point person after the fire,” said Betty Ann Bruno, who lost her home and battled State Farm for an equitable settlement for four years. One homeowner who got to know Ossias after the Oakland Hills fire called her “a true watchdog,” noting that she encouraged residents to file complaints with the department. She lives with her cat, Bob, and dog, Jackie O, in San Francisco, and spends her spare time playing piano and singing in an a cappella group. She was fearful of violating attorney-client privileges and she was concerned about jeopardizing her job.īut more than anything, she wanted the truth to come out: “I realized was somebody who could get these documents to the right people, get them made public,” she said outside the hearing room.Ī 10-year veteran of the Insurance Department, Ossias said she has become known as the “catastrophe queen” in the legal division because of her work on the Oakland Hills fire, which burned 3,000 houses in 1991, and the 1994 Northridge earthquake. In the days that followed, Ossias told the committee, she went through “an internal struggle” as she agonized over which documents to leak. Her response? “I have a lot to tell you.” “He knew I had done some earthquake work, so he asked me if I knew anything about the Northridge settlements,” Ossias recalled. But then came a call from Paul Donahue, a former consultant to the Assembly Insurance Committee. Later, addressing reporters in a Capitol hallway, she added: “I knew what we could have gotten, and I felt they should know they got shortchanged.”ĭespite her frustration, Ossias figured she would just ignore her angst and go on doing her job. “I was truly outraged and with each settlement I saw, I was more outraged,” she told the committee. Testifying under immunity from criminal prosecution, Ossias said she was “appalled” when she learned that her recommended fine of about $119 million against State Farm had been scrapped in favor of the alternative settlement scheme, under which the company was assessed just $2 million-none of which went to quake victims. Quackenbush allowed the companies to contribute far smaller amounts to private foundations he created. The documents included audits detailing such violations by State Farm, Allstate and 20th Century and also staff-recommended fines against those companies. “I’m just trusting that I’ll land on my feet.”ĭocuments leaked by Ossias are central to the widening scandal engulfing Quackenbush, who is under scrutiny for his settlements with major insurance companies in lieu of fines for Northridge earthquake claims violations. “I’m not in denial,” she said, acknowledging the grim possibilities.
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