Top News:
@kerrymflynn:
Vice to lay off 55 in the US and ~100 globally, citing the fact that digital organization accounts for 50% of headcount costs but brings in about 21% of revenue — Vice CEO Nancy Dubuc on layoffs: 55 in US + ~100 globally: “The reality is that some tough decisions had to be made primarily around our digital teams. Currently, our digital organization accounts for around 50% of our headcount costs, but only brings in about 21% of our revenue” https://twitter.com/...
Discussion:
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Chris Roush / Talking Biz News:
The Economist Group is laying off 90 employees, about 7% of its workforce, none of whom are editorial staff, and ending the print edition of the 1843 magazine — The Economist Group said Friday that it is laying off 90 staffers, or just less than 7 percent of its 1,300-person workforce.
Discussion:
Adweek, Press Gazette, @henrymance, MediaPost, Folio, @stegersaurus and Variety
Joe Pompeo / Vanity Fair:
Sources: NYT is getting under the skin of BuzzFeed staff by raiding BuzzFeed talent and sometimes re-reporting BuzzFeed stories with little credit — Poaching employees and rereporting other outlets' stories is in the Times DNA, and BuzzFeed is now in the crosshairs.
Discussion:
@jackshafer, @bernstein, @rafat, @kerrymflynn, @alexgiess, @jonahdispatch, @t_fin, @bikehugger, @summeranne, @summeranne, @mat, @mimms, @scottlucas, @jackshafer, @jackshafer, @dylanbyers, @dylanbyers and @dylanbyers
Charlotte Tobitt / Press Gazette:
FT has gained 50K new digital subscribers in the past two months, but will institute 10% salary cuts for non-editorial staff making over £50K beginning July 1 — The Financial Times is cutting its spending on non-staff contributors and implementing further cuts to pay and working hours …
Discussion:
@pressgazette, @felixsalmon and Talking Biz News
Marc Tracy / New York Times:
Reporters in the US and abroad face altercations with anti-lockdown protestors, an extension of the general antagonistic feeling toward journalists — Journalists covering the pandemic have faced the wrath of people who are against social-distancing restrictions.
Robert Channick / Chicago Tribune:
Tribune Publishing and the Chicago Tribune Guild agree to a three-week furlough taken in one week increments for all unionized employees making $40K+ — Tribune Publishing and the Chicago Tribune Guild agreed Wednesday to a three-week furlough for all unionized newsroom employees making $40,000 …
Discussion:
@toddlighty
Melynda Fuller / MediaPost:
Microsoft expands partnership with NewsGuard, which rates news site credibility, making NewsGuard's extension free for Edge browser users on desktop and mobile — NewsGuard Technologies is expanding its partnership with Microsoft through browser expansions, adoption in new programs and continued sponsorships.
Discussion:
American Press Institute, ZDNet and NewsGuard
Bloomberg:
SensorTower: downloads of the Pluto TV app more than tripled to 3M in April from 900,000 in January; signups for Tubi rose 30% to 4M, Vudu's grew 55% to 673,000 — - No-cost platforms are getting better content, bigger audiences — Viewers of Pluto TV increased 55% to 24 million in March
Discussion:
@gerryfsmith and @ediggs
Ben Lovejoy / 9to5Mac:
Netflix begins restoring full quality streaming in Europe; Apple TV+ has restored 4K streaming late April — Netflix is gradually lifting coronavirus-related streaming quality limits in Europe. Netflix, Apple TV+, Amazon Prime Video have all complied with a European Commission request …
Discussion:
@somospostpc, The Verge and The Streamable, more at Techmeme »
Tristan Loper / News Revenue Hub:
News Revenue Hub, which helps news outlets with fundraising, says newsrooms that it works with raised $3.8M from donors since the beginning of March — The financial fallout from the coronavirus pandemic for news media has made one thing clear: Readers are ready to support vital reporting they need and trust.
Discussion:
@ralstonreports
Caysey Welton / Folio:
Meredith Q3: earnings of $151.8M, down 5.5% YoY, on revenue of $701.7M, down 6.5% YoY; ad revenue hit $332.1M, down 9.8% YoY; licensing revenue grew 27% YoY — After a few days of delay, Meredith released its Q3 earnings, which closed on March 31. Starting with the bottom line …
Discussion:
WWD and Motley Fool
European Journalism Covid-19 Support Fund:
European Journalism Centre and Facebook Journalism Project announce 57 outlets receiving grants of €10K or €25K to address business needs caused by COVID-19 — The European Journalism Centre (EJC) in partnership with the Facebook Journalism Project (FJP) is today announcing 57 …
Discussion:
@emilybell and HoldtheFrontPage
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