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 …
Discussion:
Netflix, Financial Times, Financial Times, USA Today, Fortune, Protocol, Variety, The Wrap, Fortune, The Week, Yahoo Finance, Metro.co.uk, @adrianweckler, @carttca, @lucas_shaw, @xpangler, New York Times, @lanceulanoff, @dylanbyers, @loudmouthjulia, @shiraovide, @xpangler, Washington Post, @loudmouthjulia, @raheemkassam, @richlightshed, @jamestitcomb, @katie_robertson, @richlightshed, The Stranger, AdExchanger, Axios and Bloomberg, more at Techmeme »
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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
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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
@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/...
Discussion:
Nieman Lab, @emilydreyfuss, Talking Biz News, Protocol, @levisu, @haydenfield, @abeaujon, @jimbrady, @abeaujon, @emilydreyfuss, @bendreyfuss, @abeaujon, @tomgara, @bydanielvictor, @polina_marinova, @mmmmurf, @lindakinstler, @emilydreyfuss, @abeaujon, @bdayspring, @jayrosen_nyu, @dylanbyers, @emilydreyfuss, @sdkstl, @levensti, @jbenton, @emilydreyfuss, @aaschapiro, @talkingbiznews, @jbenton, @whatthebit, @scottlucas, @stevekovach, @kerrymflynn and Talking Biz News
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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