Top News:
Netflix:
Netflix reports Q2 revenue of $4.9B, up 26% YoY, and total paid membership of 152M, up 22% YoY, but it added 2.7M new subs, down from 5.5M YoY; stock down 10%+ — July 17, 2019 Fellow shareholders, As expected, revenue growth accelerated 400 basis points to 26%, and operating income increased 53% year over year in Q2.
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@lucas_shaw, CNBC, The Wrap, @nageshduvvuri, @dkthomp, Quartz, NBC News, Fast Company, @tedgioia, 9to5Mac, Wall Street Journal, USA Today, @lucas_shaw, Business Insider, @lanceulanoff, @pkafka, @dawnc331, @jank0, @stevekopack, Gizmodo, The Verge, TechCrunch, AdExchanger, @lucas_shaw, Multichannel News, MediaPost and Radio & Television …, more at Techmeme »
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Todd Spangler / Variety:
In Q2, Netflix lost US subscribers for the first time since Q3 2011, dropping 130,000, and added fewer global subs than expected, citing a weak Q2 content slate — For the first time, Netflix lost streaming subscribers in the U.S. — dropping a net 130,000 for the second quarter of 2019 …
Discussion:
Vox, Ad Age, Breitbart, @natjarv, @natjarv, Hollywood Reporter, @pkafka, Decider, @natjarv, @natjarv, Fast Company, @kevinwildes, The Guardian and TVWeek.com, more at Techmeme »
Kerry Flynn / Digiday:
Twitter releases LiveCut, a tool to help publishers make, monetize, and share video clips of live broadcasts, similar to SnappyTV, which Twitter bought in 2014 — Twitter has a new tool to help publishers make more Twitter videos. — LiveCut lets publishers make, monetize and share video clips of live broadcasts through Twitter.
Discussion:
media.twitter.com, Adweek, @kerrymflynn and @mattnavarra
Emily Tamkin / Columbia Journalism Review:
Why CNN shouldn't have given screen time to white supremacist Richard Spencer for reaction to Trump's racist tweets: normalization of racism, diversion of focus — On Tuesday evening, a segment on Jake Tapper's CNN show The Lead featured an interview with Richard Spencer, a white supremacist.
Discussion:
The Daily Beast, @thelaurenchen, The Hill, @jaketapper, @eli_reichman, @emilyctamkin, @swmstn2, @ksurana6, @stevekrak, @cboomervazquez, The Daily Caller, The Independent and Splinter
Christine Schmidt / Nieman Lab:
Facebook Journalism Project announces 22 projects receiving grants between $5,000 and $25,000 to fund community-building proposals over the next six months — In its latest quest to build community, Facebook is trying to develop a meta-community for local news publishers to then, you know, build that community.
Discussion:
@dorrine, @dorrine, @media_outlier, @amzam, @donnawares, @mathewi and @sltrib
Sara Jerde / Adweek:
Former Bloomberg Media CRO Keith Grossman joins Time as president, reporting to Time editor in chief and CEO Edward Felsenthal — Exclusive: The former Bloomberg Media CRO also spent 5 months at Engine — Time, the nearly 100-year-old brand, is getting a new president.
Discussion:
@keithgrossman and MediaPost
Mark Di Stefano / BuzzFeed:
US sports site The Athletic poaches Daniel Taylor from The Guardian and David Ornstein from the BBC, continuing its UK football journalism talent hiring spree — “It's a journalist transfer window.” — A US sports website that wants to dominate the British football market has made a series …
Discussion:
@markdistef, @mikelizun, @buzzfeeduk, @alexwickham, @chrislepkowski, @markdistef, Spectator and Prolific North
Jem Aswad / Variety:
Internal Universal Music memo details its investigation into losses from a 2008 fire: 22 lost assets could have been original masters linked to five artists — Ahead of an expected motion to dismiss the lawsuit filed last month by several artists over damage in the 2008 fire that destroyed hundreds …
Sarah Jones / New York Magazine:
Some staffers wrote First Look Media's board in protest after Topic Magazine's closing and The Nib's de-funding, amid rumors First Look bought Passionflix.com — Employees are worried that one of the nation's largest and most prominent left-of-center media companies, First Look Media, has lost its way.
Discussion:
@felixgillette, @jlichman, @davidsrudin, @irin, @tomgara, @tomtomorrow, @charliearchy, @petersterne, @mikkipedia, @86_rsk and Business Insider
Brian Merchant / Columbia Journalism Review:
To duck accountability, “on background” has become the default method by which Silicon Valley disseminates information, often abetted by tech journalists — One of the most pernicious tools that Silicon Valley uses to control the flow of information to the public is decidedly low-tech: briefing reporters “on background.”
Discussion:
Mother Jones, more at Techmeme »
Jem Aswad / Variety:
Sony unites its recorded-music operation, Sony Music Entertainment, and its publishing company, Sony/ATV, under Sony Music Group led by SME chief Rob Stringer — Sony has created Sony Music Group, an umbrella for both its recorded-music operation — Sony Music Entertainment …
Kevin Roose / New York Times:
Reflecting on VidCon, it's clear that influencers' command of social media foreshadows future power in politics and elsewhere — As social media expands its cultural dominance, the people who can steer the online conversation will have an upper hand. — ANAHEIM, Calif. …
Discussion:
@nytimesbusiness, @joshspero, @nytimesbusiness, @cheriehu42 and @kevinroose, more at Techmeme »
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