Top News:
Edmund Lee / New York Times:
Competitors like Disney+, HBO Max, and Amazon Prime Video have cut into Netflix's share of viewer attention, but the company is in its best financial shape ever — The streaming service reported the addition of four million new customers for the first quarter, below the six million it had forecast.
Discussion:
@edmundlee, Axios, @xpangler, @shakeelhashim, Collider, CNBC, Variety and New York Times
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Netflix:
Netflix reports Q1 revenue of $7.16B, up 24% YoY, and 208M paid memberships, up 14% YoY but below its forecast of 210M; stock down 10%+ after hours
Discussion:
Variety, Financial Times, Digiday, @lucas_shaw, Variety, The Playlist, FierceVideo, CNBC, MediaNama, @charliebilello, @lucas_shaw, @variety, @lucas_shaw, @tvmojoe, @tvmojoe, @tvmojoe, @pkafka, @thestalwart, @mylesudland, Forbes, musically.com, Hollywood Reporter, Junghoon's Direct Media …, The Verge, Ad Age, ZDNet, IndieWire, Light Reading, MediaPost, Protocol, The Wrap, TechCrunch, Yahoo Finance and Wall Street Journal
Sara Fischer / Axios:
AP says StoryShare will expand in the coming months from geographic to topical networks, letting newsrooms share around topics like storms and gun control — “This is about giving customers the capability to launch networks and improve coverage.”
Discussion:
@norgillespie and @sarafischer
Ronan Shields / Adweek:
Outbrain confidentially files for an IPO, seeking a $2B valuation, after the abandonment of its earlier attempted merger with rival Taboola — Ad-tech company seeks $2 billion valuation in planned IPO
Discussion:
@tsimonite, Yahoo Finance, @lanceulanoff, @ediggs and @adweek, more at Techmeme »
Sahil Patel / Wall Street Journal:
NBCUniversal hires Nielsen exec Kelly Abcarian as its first EVP of measurement and impact, and says it is spending $100M+ annually on data and tech initiatives — The media giant is spending more than $100 million annually on data and technology initiatives
Discussion:
MediaPost, @lindayacc, @sizpatel, Variety and @beet_tv
Todd Spangler / Variety:
Roku rebrands Quibi content as Roku Originals and says those 75+ shows will be available to watch for free on the ad-supported Roku Channel later this year — Roku is officially dropping the Quibi name. … The 75-plus original shows from Quibi will be available to watch for free …
Discussion:
TechCrunch, Adweek, The Streamable, Light Reading, IGN India, @caro, @jeremarketer, Hollywood Reporter, The Verge, @sepinwall, @xpangler, WORLD SCREEN, Bloody Disgusting! and Cord Cutters News
Ashley Carman / The Verge:
Apple unveils in-app subscriptions for Apple Podcasts; Apple will take 30% of revenue in the first year, and 15% in following years — For ad-free, early access, and bonus content — A monumental change is coming to Apple Podcasts' business: the company is launching subscriptions within the Apple Podcasts app.
Discussion:
Vox, Apple, @mattmedeiros, Matt on Audio, MediaPost, @ashleyrcarman, @kantrowitz, One Man & His Blog, Los Angeles Times, @jakeshapiro, Podnews podcasting news, Supporting Cast, @patreon, @simonowens, @ashleyrcarman, Nieman Lab, TechCrunch, PRX Official, @nwquah, Nathan Gathright, 9to5Mac, Castos, Complete Music Update, @kylekashuv, @kantrowitz, What's New in Publishing, @grovesprof, @gauravchoudhury, @aexm, @karaswisher, @caseynewton, @kevin_indig, @cheriehu42, Variety, @chrismessina, @ashleyrcarman, @alexeheath, @prodanstatev, @theshortboxjax, @lanterncast, @achangeoftune, @chrismessina, @nprextra, @sidharthajha, @pkafka, @sims, @itstreverr, @ow, @godfree, @simonowens, @ashleyrcarman, @heyheyesj, @simonowens, @lucas_shaw, @lucas_shaw, Mumbrella, RAIN News, Wall Street Journal, AppleInsider, ScreenRant, Gizmodo, The Wrap, CNET, MacRumors and Reuters
Fern Siegel / The Streamable:
Byron Allen launches Local Now, a free ad-supported streamer that aggregates 300+ hyperlocal channels across 225 markets in the US — Local Now, the free ad-supported streamer, has kicked off on most major platforms. Local Now aggregates and streams local news, weather, sports, traffic and entertainment in real time.
Discussion:
@michellemanafy and The Wrap
Anthony Ha / TechCrunch:
Creator+, which wants to build a film studio to produce feature-length movies by top creators and distribute them through a streaming service, raises $12M — In the words of co-founder and CEO Jonathan Shambroom, Creator+ is a new startup that will “finance, produce and distribute feature-length films …
Discussion:
Variety and Hollywood Reporter
Charlotte Tobitt / Press Gazette:
Editor of UK's Sunday Times apologizes after a front page story about Prince Philip's funeral claimed the public “secretly enjoyed” his racist gaffes — Sunday Times editor Emma Tucker has apologised after a front page story about Prince Philip's funeral claimed the public …
Discussion:
@stopfundinghate, @pressgazette, @okwonga, Insider, The Independent and The Guardian
Sara Fischer / Axios:
Bloomberg Media says its revenue grew ~30% YoY in Q1, as it hit more than 300,000 active subscribers, up from 250,000 in Q4 2020 — One to watch at this year's Upfront and Newfront advertising presentations (held virtually again in 2021): Bloomberg Media. — What to watch …
Discussion:
Talking Biz News, @alecmacgillis and @rafat
Robert Channick / Chicago Tribune:
Tribune Publishing sets May 21 date for shareholders to vote on a deal to sell the Chicago-based newspaper chain to hedge fund Alden Global Capital for $633M — Tribune Publishing set a May 21 date for shareholders to vote on its deal to sell the Chicago-based newspaper chain to hedge fund Alden Global Capital for $633 million.
Discussion:
@robertchannick, @opinion_joe and Talking Biz News
Alison Flood / The Guardian:
Simon & Schuster refuses to cancel a seven-figure book deal for Mike Pence's memoir, after staff open letter accused the publisher of “legitimising bigotry” — Simon & Schuster president Jonathan Karp says seven-figure book deal will go ahead, after open letter …
Discussion:
Insider, Wall Street Journal, @markpaultimes, @bencjacobs, @jasonleopold, @oliverdarcy, The Week and Bookseller News
Rebecca Davis / Variety:
Reporters Without Borders ranks China fourth to last out of 180 countries on its 2021 World Press Freedom Index, citing “grave threat” to Hong Kong journalism — China ranked 177th in 2019, 2020 and 2021, down from a period at 176th from 2015 to 2018.
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