Here's how much streaming subscribers are worth

Hi and welcome to Insider Advertising for May 21. I'm senior advertising reporter Lauren Johnson, and here's what's going on:

• Here's how much streaming subscribers are worth.
• Wells Fargo's CMO exits.
• Keith Cartwright's ad agency.

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Tips, comments, suggestions? Drop me a line at LJohnson@insider.com or on Twitter at @LaurenJohnson.

Netflix, Disney+, and HBO Max make vastly different amounts of money per subscriber and it complicates the picture of who is winning the streaming war

• Who's winning in streaming TV's explosion? Subscriber gains tell only part of the story.
• Insider's back-of-the envelope math estimates the monthly revenue new subscribers are adding.
• Netflix leads by this measure, followed by Disney+ and HBO Max.

Read the story.

Wells Fargo marketing head is exiting amid a wider restructuring of its marketing function and the scrapping of the CMO role

• Michael Lacorazza, top marketer at Wells Fargo, is heading for the exits, Lara O'Reilly reported.
• His move comes as the bank is decentralizing its marketing team.
• Wells Fargo has also retired the central CMO role.

Read the story.

How this brand-new ad agency won over brands like P&G seeking help responding to the pandemic and social issues

• Keith Cartwright's ad agency has taken off, despite launching in the pandemic, Lindsay Rittenhouse reported.
• It's won over clients like P&G and the NBA seeking help navigating the pandemic and social issues.
• It has backing from ad giant WPP, which lets it operate with big-agency resources.

Read the story.

Other stories we're reading:

• Snapchat is ending its splashy $1 million daily Spotlight paydays but will continue to pay creators 'millions per week' (Insider)
• Affirm is planning a new ad campaign to stand out from rivals in the crowded buy now, pay later category (Insider)
• New research analyzing 100 million Instagram posts reveals insights like ideal caption length and number of hashtags. Here are 5 key takeaways. (Insider)
• A streamer who broadcast in a bikini on Amazon's Twitch had ads 'indefinitely suspended' after she says an advertiser 'pushed back' (Insider)

Thanks for reading and see you on Monday! You can reach me in the meantime at LJohnson@insider.com and subscribe to this daily email here.