Mediagazer: AT&T offers free HBO Max to “tens of millions” of customers, including wireless and internet subscribers, as it aims for 75M to 90M HBO Max subscribers by 2025 (Dade Hayes/Deadline)

9:45 AM ET, April 22, 2020

Top News:

Lauren Feiner / CNBC:

Netflix reports Q1 revenue of $5.77B, up 27.6% YoY, vs $5.76B est., global paid net subscriber additions of 15.77M, now totaling 182.86M accounts, up 22.8% YoY — - Netflix reported its Q1 2020 earnings after the bell on Tuesday. — Netflix has ranked among analysts' favorite …

Georg Szalai / Hollywood Reporter:

Netflix CEO Reed Hastings' compensation reached $38.6M in 2019, up about 7% YoY, and chief content officer Ted Sarandos received a package worth $34.7M, up 17% — Hastings' pay day increased by 7 percent, with his right-hand man making 17 percent more. — Netflix CEO Reed Hastings …

Discussion: The Wrap and Broadcasting & Cable

Todd Spangler / Variety:

AT&T misses estimates, loses 138K AT&T Now customers and 897K premium TV subscribers in Q1, reports revenues of $42.78B and pulls its annual forecast — AT&T missed revenue and earnings estimates for the first quarter of 2020, with a 4.6% top-line decline driven by lower revenue …

Discussion: The Streamable, CNBC, @edmundlee, @brianstelter, The Streamable, @alexweprin, The Week, The Playlist and MediaPost

Dade Hayes / Deadline:

AT&T offers free HBO Max to “tens of millions” of customers, including wireless and internet subscribers, as it aims for 75M to 90M HBO Max subscribers by 2025 — AT&T will offer WarnerMedia's HBO Max free or via promotion to “tens of millions” of its U.S. wireless, video and internet customers

Discussion: HBO Max, The Week, MTV, The Streamable, CNET, The Verge and Engadget

Hollywood Reporter:
HBO Max to launch on May 27 for $15 per month with 10,000 hours of programming

Discussion: Deadline, Variety, @joan_e, @joan_e, @joan_e, The Week, Nylon, CNET, Variety and Wall Street Journal, more at Techmeme »

@kerrymflynn:

[Thread] Internal memos: Politico lays off 13 at Protocol as it cancels live events through at least Sept. 1, including its presence at political conventions — Didn't want to break this media news earlier because of my major conflict of interest. But I'm really sad to see another round of harsh cuts at a media company (and a new one at that!). 13 people, incl editors + reporters, lost their jobs at Protocol today https://twitter.com/...

Wall Street Journal:

Internal planning document for Vice Media Group lays out the possibility of layoffs of 300+ in digital operations, including cuts at Vice News and Refinery29 — Planning document calls for over 300 layoffs, though company says several such proposals are being worked up

Discussion: Axios, The Hill, Fast Company, @loudmouthjulia, @robenfarzad, @asharma, @kantrowitz, @elanazak, @benmullin, @jherrerx, @keachhagey, @markdistef and @benmullin

Jim VandeHei / Axios:

Axios says it qualified for a PPP loan “just shy of $5M” as it is both a media company and a small business with a national presence — Axios is among the small businesses that qualified for a PPP loan to protect existing jobs and help weather the coronavirus crisis.

Discussion: CNBC and @brianstelter

Financial Times:

Some of UK's biggest publishers criticize Google for failing to adequately explain its approach to blocking and filtering ads alongside COVID-19-related content — Tech group asked to provide greater clarity over how it filters ads around coverage of pandemic

Discussion: @markdistef, more at Techmeme »

Mark Sweney / The Guardian:

Disney co-founder's granddaughter Abigail Disney criticises the company for protecting exec bonuses and dividends of $1.5B+ while cutting pay of 100K+ workers — Abigail Disney hits out at executive payouts while staff weather coronavirus impact — An heir to the Walt Disney fortune …

Discussion: @abigaildisney, Hollywood Reporter and The Kingdom Insider

Mandy Jenkins / The Compass Experiment:

The Compass Experiment, McClatchy and Google's digital local news initiative, plans to launch the Longmont Leader in Colorado in May with a team of five — We're launching The Longmont Leader to provide critical news and information during this time of crisis — and beyond.

Discussion: Nieman Lab, Axios, @fishnette, @mattsebastian, @mjenkins, The Keyword, @juliewestfall, @mjenkins, @rubinojc, @mcclatchy, @benfischersbj, MediaPost, Longmont Observer, PR Newswire, Longmont Observer and Free Press

Kathryn Hopkins / WWD:

Bustle relaunches Nylon's digital edition but delays a promised print edition to fall 2021 and postpones a monthly live music series, Nylon Nights — Nylon's first digital issue under BDG's ownership features cover star Maya Hawke. — After acquiring fashion, music and cultural site Nylon last summer …

Discussion: Nylon, @benjamingoggin, @raywongy and MediaPost

Alexandra Steigrad / New York Post:

Filing: NBCUniversal sold about half of its stake, worth ~$178M, in Peloton; Peloton shares are up more than 50% since mid-March because of the pandemic — NBCUniversal has sold a $178 million stake in stationary-bike company Peloton, whose shares have lately been surging because of the coronavirus crisis.

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Earlier Picks:

Variety:
Georgia to let movie theaters reopen April 27, but hiring staff, safety protocols, a lack of new releases, and limits on crowd sizes pose significant challenges

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