TheWrap
TheWrap is an American digital news outlet specializing in coverage of the entertainment and media industries, founded in 2009 by journalist Sharon Waxman, a former Hollywood correspondent for The New York Times.[1][2] Headquartered in Los Angeles, it focuses on breaking news, business analysis, investigative reporting, film and television reviews, and insights into Hollywood operations, positioning itself as a key resource for industry professionals and enthusiasts.[3] The publication has grown to include editorial contributions from over 19 regular staff and has launched various platforms and products annually, establishing a reputation for timely reporting on media deals, executive movements, and cultural trends.[4] It has earned multiple journalism accolades, including first-place wins in the National Arts & Entertainment Journalism Awards for categories such as best entertainment blog and investigative reporting, as well as Southern California Journalism Awards for film and profile features.[5][6] While praised for its industry depth, TheWrap has encountered controversies, including a 2020 apology from Waxman over a guest blog questioning aspects of the George Floyd video coverage and a 2025 libel lawsuit from digital media company Valnet challenging an investigative piece on alleged exploitative labor practices.[7][8] Independent assessments rate it as left-center biased with mixed factual accuracy, reflecting broader patterns in mainstream entertainment journalism where editorial leanings can influence coverage of politically charged topics.[2]History
Founding and Sharon Waxman's Background
Sharon Waxman began her journalism career as a foreign correspondent, covering Europe and the Middle East for approximately a decade before shifting focus to domestic reporting.[9] From 1995 to 2003, she served as a Los Angeles-based correspondent for The Washington Post, where she reported on various topics including entertainment.[10] She later transitioned to The New York Times as its Hollywood correspondent, building expertise in the entertainment industry through investigative pieces on film, media, and celebrity culture.[11] Waxman also authored books such as Rebels on the Backlot: The Six Movie Brats Who Changed Hollywood (2005), which chronicled the rise of independent filmmakers in the 1970s, drawing on her industry access and analytical approach to Hollywood's power dynamics.[9] In 2009, Waxman founded TheWrap News Inc., launching the digital publication as an independent outlet dedicated to covering the business of entertainment, media, and Hollywood.[1] Motivated by perceived gaps in traditional trade coverage—such as insufficient scrutiny of industry insiders and a need for faster, more transparent reporting—she positioned TheWrap to challenge established competitors like Variety and The Hollywood Reporter.[12] Operating initially from Los Angeles, the site emphasized business-oriented journalism over gossip, leveraging Waxman's two decades of relationships in entertainment to secure early scoops and build credibility.[10] As founder, Waxman assumed roles as CEO and editor-in-chief, guiding the outlet's growth amid a shifting digital media landscape.[13]Early Development and Initial Funding (2009–2012)
TheWrap.com launched on January 26, 2009, as a digital platform focused on real-time reporting, curation, and analysis of the entertainment and media business, distinguishing itself through interactivity and independence from industry influences.[14] The debut followed a $500,000 seed round completed in August 2008 from undisclosed investors, which enabled initial setup for The Wrap News LLC in Los Angeles and New York.[15][16] Launch features included a free daily email newsletter, "First Take," initiated in November 2008, alongside anchor sponsorships from British Airways and Four Seasons Hotel, Beverly Hills, and cross-promotions with outlets like The Daily Beast.[14] Series A funding arrived concurrently in January 2009 from Maveron—a Seattle-based venture firm co-founded by Howard Schultz—and private investors without entertainment ties, providing capital for operational rollout without a publicly disclosed amount.[17][18] This backing supported early content strategies, such as weekly "The Grill" interviews and user engagement tools for ratings and contributions.[14] Rapid audience growth marked the period, with nearly 380,000 unique visitors in June 2009 alone, surging to over 1 million monthly uniques by April 2010 amid high-profile news coverage and investigative pieces.[19][17] To capitalize on this momentum, TheWrap raised $2 million in an April 2010 Series B round, led by Maveron and including most prior Series A backers, aimed at content scaling, market expansion, and revenue streams like events and licensing beyond display ads.[20][21] No further funding rounds were reported through 2012, as the site solidified its position via consistent traffic gains and industry analysis.[17]Expansion and Key Milestones (2013–2019)
In September 2013, TheWrap launched a redesigned website as part of a broader growth initiative aimed at enhancing user experience and increasing traffic, which resulted in the site surpassing competitors Deadline Hollywood and Variety in unique visitors for December 2013.[22] In July 2013, internal promotions such as Joseph Kapsch to executive editor signaled strengthening of the editorial leadership to support expanded operations.[23] In May 2014, TheWrap introduced WrapWire, a syndicated news wire service providing 24/7 coverage of entertainment business news to broaden distribution beyond its digital platform.[24] This was followed in July 2015 by a content partnership with Hearst Newspapers, enabling WrapWire stories to appear in 17 dailies and reaching millions of additional print readers.[25] The period saw further diversification, including the annual Innovators List recognizing industry disruptors, with editions highlighting transformative figures in Hollywood, media, and technology in 2018 and 2019.[26][27] A key acquisition occurred on September 6, 2018, when TheWrap purchased VideoInk, Inc., integrating specialized coverage of digital video business news and introducing a subscription-based revenue stream to complement advertising.[28] By late 2019, these efforts had positioned TheWrap as a multifaceted outlet incorporating video content and event-driven initiatives alongside core reporting.[29]Operations in the 2020s and Recent Developments
In the early 2020s, TheWrap sustained its digital news operations amid the entertainment industry's COVID-19 shutdowns, which curtailed film and TV production, by emphasizing coverage of streaming pivots, virtual events, and economic fallout. Founder and Editor-in-Chief Sharon Waxman was named to Inc. Magazine's 2020 list of the Top 100 Female Founders, recognizing her leadership of the independent outlet.[30] The company maintained its core model of free breaking news alongside the paid WrapPRO subscription for insider analysis, while adapting to reduced ad revenue through diversified events like the annual Power Women Summit and TheGrill conference series.[31] By 2021, TheWrap earned recognition from the Los Angeles Press Club's Southern California Journalism Awards, including placements for feature photography and its podcast TheWrap-Up, alongside Waxman's honor as Best Online Journalist.[32] Operations focused on investigative reporting into industry disruptions, such as the 2023 writers' and actors' strikes, without reported internal staffing cuts, unlike peers facing widespread layoffs. In March 2022, TheWrap promoted longtime executive Dan Strauss to Chief Operating Officer, signaling organizational strengthening amid digital media consolidation pressures.[33] Marking its 15th anniversary in January 2024, TheWrap highlighted sustained growth from a bootstrapped launch to a staff of approximately 250, positioning itself as a key independent trade amid legacy outlets' declines. Recent developments include high-profile 2025 events, such as TheGrill conference featuring agency leaders like WME's Mark Shapiro, and collaborative special reports, like the October 2025 Pollstar analysis of post-pandemic live entertainment trends showing mixed recovery in concerts versus theater.[34][35] The outlet secured 15 nominations for the 2025 Southern California Journalism Awards, including Best Website, affirming its editorial relevance.[36]Editorial Focus and Content
Core Coverage Areas: Entertainment and Media Business
TheWrap's coverage of entertainment emphasizes breaking news, in-depth analysis, and insider reporting on Hollywood's film and television sectors. It provides updates on major releases, casting announcements, and production developments, often drawing from industry sources to report on project statuses and creative decisions. For instance, the outlet frequently covers high-profile films and series, including critiques of studio strategies and talent negotiations.[3][37] In television reporting, TheWrap tracks network programming, streaming service expansions, and viewer metrics, with a focus on competitive dynamics among platforms like Netflix, Disney+, and traditional broadcasters. This includes analysis of pilot orders, renewal decisions, and shifts in content distribution models. The site's awards season coverage is particularly intensive, offering predictions, nominee breakdowns, and campaign strategies for events such as the Oscars, Emmys, and Golden Globes, positioning it as a resource for industry professionals monitoring prestige projects.[3][38] Media business reporting forms a cornerstone of TheWrap's output, scrutinizing financial deals, executive appointments, and corporate restructurings across entertainment conglomerates. Articles often detail mergers, acquisitions, and investment flows, such as the $1 billion commitments to studio infrastructure announced in 2025. Coverage extends to labor issues, including widespread layoffs—nearly 15,000 jobs cut industry-wide in 2024—and the influence of technology firms on production budgets and decision-making.[38][39][37] TheWrap highlights executive movements and power shifts, reporting on hires, departures, and leadership strategies at companies like Warner Bros. Discovery and Paramount Global. It also examines broader economic pressures, such as the rise of vertical micro-dramas generating $8 billion annually and regional production incentives drawing film work away from California. This business-oriented lens incorporates data-driven insights into revenue models, advertising trends, and event-driven networking through TheWrap's live forums like #TheGrill.[40][41][42] Key Sub-Areas in Coverage:- Deals and Finance: Tracking venture funding, content licensing agreements, and box office performance metrics.
- Executives and Insiders: Profiles of studio heads, agent negotiations, and guild disputes.
- Industry Events: Summaries from conferences on television's future and theatrical releases.[3][43][44]