Top News:
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 …
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@gerryfsmith, CNN, @dicktofel, @yousefmunayyer, @bgrueskin, @mattyglesias, @thestalwart, @boydhilton, @kerrymflynn, @kerrymflynn and @gerryfsmith
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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:
@marcatracy, @mattzeitlin, @jimwaterson, @ericcrawford and @juliehdavis
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+ — - Disney reported earnings for its third quarter of 2020 after the bell on Tuesday as it continues to feel the impact of the coronavirus pandemic …
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 — Disney's live-action adaptation gets a new release date — Disney's live-action adaptation of Mulan will be released on Disney …
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 »
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 and The Verge, 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:
The Wrap, Hollywood Reporter and @thr
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.
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 …, Multichannel News and The Verge
Joe Flint / Wall Street Journal:
Sources: NBCU begins layoffs across its portfolio, expected to be less than 10% of staff, and WarnerMedia will start layoffs as early as next week — Comcast unit is the latest among entertainment giants, including WarnerMedia, to cut employees in the wake of the coronavirus pandemic
Discussion:
New York Post, MediaPost, NBC News, CNN, @jbflint, @alexsalvinews, Multichannel News, Forbes and The Wrap
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, @kerrymflynn, @kdoctor, @bok_bok_ba_gok and @kdoctor
CBS News:
Biden campaign announces what it says is the largest TV ad buy ever by a presidential candidate, with $220M for TV ads in 15 states and $60M for digital ads — Pretty soon it'll be hard to escape Joe Biden on your television. Or your radio. Or your phone.
Discussion:
@michaeljgwin, @davidlarter and @jeffjarvis
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