Top News:
Marc Tracy / New York Times:
NYT says it has added 669K new digital subscribers in Q2 and its digital revenue, at $185.5M, exceeded print revenue, at $175.4M, for the first time — The pandemic squeezed advertising for the web as well as print, but subscription growth was the best ever for a quarter.
Discussion:
@jodikantor, @marcatracy, @mattzeitlin, @jimwaterson, @ericcrawford and @juliehdavis
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Business Wire:
NYT reports Q2 net income of $23.7M, down 6% YoY, revenue of $403.8M, down 7.5% YoY, with ad revenues down 43.9%, and has a total of 6.5M subscribers — NEW YORK—(BUSINESS WIRE)—The New York Times Company (NYSE: NYT) announced today second-quarter 2020 diluted earnings per share …
Discussion:
@gerryfsmith, CNN, @them_l_g, @andybcampbell, @sarthakgh, @aexm, @dicktofel, @yousefmunayyer, @bgrueskin, @mattyglesias, @kerrymflynn, @kerrymflynn, @thestalwart, @boydhilton and @gerryfsmith
Julia Alexander / The Verge:
Disney says it plans to launch a general entertainment streaming platform internationally in 2021 under its Star brand, would include content from ABC, FX, more — The big question now is what it means for Hulu — Disney plans to launch a new general entertainment streaming platform overseas …
Discussion:
IGN, @theericgoldman and @loudmouthjulia, more at Techmeme »
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CNBC:
Disney reports $11.78B in Q3 revenue vs. $12.37B est., down 42% YoY, says it has 100M+ paid subs for streaming services including Disney+, Hulu, and ESPN+
Julia Alexander / The Verge:
Disney's Mulan, originally to be released in March but delayed due to COVID-19, will be released on Disney+ on Sept. 4 as a premium on-demand offering for $30
Discussion:
The Wrap, The Streamable, @jimwaterson, @gameonysus, @otherehm, @gerryconway, @constar24, @reneritchie, @paultassi, @blessedsouthpaw, @loudmouthjulia, @alexandraerin, @wonderwaffle93, @loudmouthjulia, @thekenyeung, @cynical_cj, @loudmouthjulia, @schaffrillas, @curtmega, @briantong, @cynical_cj, @eugenedaniels2, @itsandyyybitch, @scalzi, Vox, Adweek and The Week
Joan E. Solsman / CNET:
Disney says Disney+ grew to 57.5M subs as of June 27, up from 54.5M three months ago
Discussion:
Variety, TechCrunch, Engadget, Awful Announcing and Engadget, more at Techmeme »
Robert D. McFadden / New York Times:
Pete Hamill, the celebrated reporter who worked as a columnist and the top editor of The New York Post and The Daily News, and authored many books, dies at 85 — He was, among other things, a celebrated reporter, columnist and the top editor of The New York Post and The Daily News and the author of numerous books.
Discussion:
@danbarrynyt, New York Post, Hollywood Reporter, @devlinbarrett, @cliffordlevy, @nytimesbooks, @sarahhepola, @nytmedia, @craigtimes, @dgisserious, abc7NY and @howardkurtz
Sara Fischer / Axios:
TikTok tightens policies against manipulated content, expands fact-checking partnerships, and is working with DHS's Countering Foreign Influence Task Force — TikTok announced new rules for its users on Wednesday to curb misinformation and manipulation ahead of the 2020 election.
Discussion:
@mosseri, Electronic Frontier Foundation, @mattnavarra and @sarafischer, more at Techmeme »
Brian Steinberg / Variety:
Discovery reports Q2 earnings of $271M, down 71% YoY, on revenue of $2.54B, down 12% YoY; US ad revenues were down 14% and distribution revenues were down 2% — Discovery said it planned to unveil a new direct-to-consumer streaming service even as its said its second-quarter net income fell 71% …
Discussion:
Deadline, The Streamable, The Wrap, @bristei, @thr and Hollywood Reporter
Sarah Perez / TechCrunch:
Facebook launches Instagram Reels, its TikTok competitor that lets users create and publish 15-second videos, in 50+ countries, including the US, UK, and Japan — Instagram Reels, the company's significant effort in challenging TikTok on short-form creative content, is launching globally, starting today.
Discussion:
Wall Street Journal, Engadget, 9to5Mac and The Verge, more at Techmeme »
Los Angeles Times:
Changes at the USAGM undermine the credibility of US worldwide broadcasting by threatening the firewall that has insulated broadcasters from political pressure — Today a global battle of ideas is raging between representative democracy and authoritarianism.
Ron Amadeo / Ars Technica:
Google says Google Play Music shutdown starts this month, global streaming will shut down in October, and music collections will be deleted in December — August begins the four-month Google Music shutdown. — Google Play Music has been given the death sentence by Google …
Discussion:
NME and The Verge, more at Techmeme »
Julia Alexander / The Verge:
Quibi seems to be testing a free ad-supported tier in Australia and New Zealand — Sounds like a testing phase — Quibi is beginning to offer a completely free tier to subscribers in Australia and New Zealand as the struggling streaming company tries to build its subscriber base.
Discussion:
@loudmouthjulia
Brian Steinberg / Variety:
Standard Media Index: Q2'2020 US TV ad spend fell 19% YoY and in June it fell 9% YoY to $3.2B, with CNN's ad revenue growing 86% YoY and Fox News' 55% YoY — More people continue to watch TV or other forms of video in the midst of the pandemic, but Madison Avenue is spending fewer dollars to dazzle them.
Discussion:
Radio & Television …, @bristei, @bristei, Multichannel News and The Verge
Kevin G. Hall / McClatchy Washington Bureau:
A bankruptcy judge has approved the $312M sale of McClatchy to Chatham Asset Management; Pension Benefit Guaranty Corporation will assume McClatchy pension plan — A federal bankruptcy judge approved the $312 million sale of McClatchy Co. on Tuesday, officially clearing …
Discussion:
New York Post, New York Times, @kdoctor, @bok_bok_ba_gok, @kdoctor and @kerrymflynn
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