Top News:
Kerry Flynn / CNN:
Forced to cancel moneymaking in-person events, some media companies have switched with success to virtual events that have driven audience growth and revenue — New York (CNN Business)Fans of Bon Appétit's Test Kitchen chefs were invited to the “Best Weekend Ever” event in New York City last fall.
Discussion:
@libraryreads99, @kerrymflynn, @kerrymflynn, @kerrymflynn and @kerrymflynn
Abby Ohlheiser / MIT Technology Review:
A look at the symbiotic ties of anti-vaxxers and COVID-19 conspiracy theorists with mainstream YouTubers, as the platform tries to regulate misinformation — Covid-19 conspiracy theorists are still getting millions of views on YouTube, even as the platform cracks down on health misinformation.
Discussion:
Nieman Lab, VICE, NPR, NBC News, @coreyhardin2, @techreview, @reillyadam, TechCrunch, @jason_a_w, @briandunning, @abbyohlheiser, Poynter, @taylorlorenz, @techreview, @oneunderscore__, @megancgraham, @sal19, @wanderinghome, @ashleyscoby, @politifact, @dangillmor, @peterhotez, @mike_hixenbaugh, @brandyzadrozny, @glichfield, @brandyzadrozny, Digital Trends, TechCrunch, New York Post, Media Matters for America, Engadget and CNBC, more at Techmeme »
Diana Falzone / VICE:
The five women who sued NY1 for age and gender discrimination in 2019 say they have had to endure retaliation that has created an even more toxic environment — Last June, five female anchors and reporters at the New York cable news channel NY1 sued their employer, alleging systemic gender and age discrimination.
Todd Spangler / Variety:
Music streaming company LiveXLive acquires Courtside Group, owner of podcast network PodcastOne, for ~$18M; Podcast One generates 2B+ episode downloads annually — Music livestreamer LiveXLive is diversifying its business with the acquisition of PodcastOne, a podcast network that hosts shows …
Discussion:
Wall Street Journal, RAIN News and @xpangler
Victor Pickard / The Nation:
Converting post offices into places to produce community media, with public broadband, would strengthen the original USPS purpose of delivering news and ideas — The postal service is a core democratic infrastructure—and it's time we remember that and fund it appropriately.
Discussion:
@vwpickard, @jasonfalter, @repmarkpocan, @thenation, @katrinanation, @vwpickard, @annenbergpenn and @mikewassenaar
Snopes.com:
Snopes receives $289K from the PPP loan program, which will provide about two and a half months of security — Like many news organizations that accepted this funding, we believe we are the exact type of business the program was intended to help. — Dear Readers,
Kathryn Hopkins / WWD:
ENTtech Media halts Paper Magazine's print edition, lays of four staff, and implements pay cuts ranging from 20% to 30% for the highest paid employees — Paper owner EnTech Media has halted print issues, temporarily cut pay and laid off a few staffers. — Paper Magazine …
Savannah Jacobson / Columbia Journalism Review:
Natasha Daly, a National Geographic reporter and editor, hopes to encourage healthy skepticism as she fact checks return-of-the-wild stories amid the lockdown — These days, people are desperate for good news. Cheerful stories about animals reclaiming their territory—elephants roaming free in China …
Discussion:
@dabeard, @susanbgoldberg, @janebsinger, @melodyrowell, @srjacobson1, @indira_l, @mathewi, @natashaldaly, @samthielman, @cjr and @thedarrach
Tatiana Siegel / Hollywood Reporter:
Saudi Arabia's sovereign fund took a 5.7% stake, worth ~$500M, in Live Nation in April, its first investment in American entertainment since Khashoggi's murder — As oil prices plunge, the kingdom's Public Investment Fund has made an offer for Warner Music Group, after nabbing a $500 million Live Nation stake to diversify.
Discussion:
@ahmed, @onaircoop, @tarekfad and Music Business Worldwide
Dade Hayes / Deadline:
MGM takes a stake in podcast company Audio Up, which will produce and distribute up to five podcasts per year for MGM and give it first looks for adaptations — EXCLUSIVE: With podcasting continuing to surge as a form of media and entertainment, and audio properties increasingly of interest …
Erik Wemple / Washington Post:
Internal email: US News & World Report imposes 90-day furloughs affecting 10%-15% of the company's roughly 320 employees, a move that closely follows pay cuts — U.S. News & World Report on Thursday apprised staffers that it is instituting 90-day furloughs across the company's divisions …
Discussion:
@bpeebles, @erikwemple, @erikwemple, @erikwemple and @erikwemple
Georg Szalai / Hollywood Reporter:
MoffettNathanson: pay TV subscriptions fell a record 1.8M in Q1, with 63% of US households subscribing, down to '95 level, as virtual and satellite TV implode — “There are now as many non-subscribing households (46 million) as there were pay TV subscribers in 1988," noted MoffettNathanson analysts.
Discussion:
Broadcasting & Cable, Variety, @pkafka, MediaPost, @kimmasters, The Media Nut, The Streamable and Variety
Alex Weprin / Hollywood Reporter:
Rupert Murdoch will give up all of his News Corp cash bonus for this fiscal year, and CEO Robert Thomson will give up 75% of his cash bonus — The mogul will give up all of his cash bonus at his publishing company. — Media mogul Rupert Murdoch will give up 100 percent of his cash bonus …
Discussion:
@kimmasters, Reuters, @dylanbyers and Hollywood Reporter
RELATED:
Business Wire:
ViacomCBS Q1: $508M net earnings on $6.6B revenue; $471M in streaming and digital video revenue, up 51% YoY; 13.5M streaming subscribers, 24M+ MAUs on Pluto TV — - Sequential Improvement in Operating Income and Adjusted OIBDA, Diluted EPS and Adjusted Diluted EPS, as well as Operating Cash Flow and Free Cash Flow
Discussion:
Hollywood Reporter, TechCrunch, @alexweprin, @alexweprin and CordCutters
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