Top News:
Sara Fischer / Axios:
Sources: CNN planned to invest ~$1B in CNN+ over four years and projected 2M US subs in year one, but will likely cut back dramatically after spending ~$300M — Investment and projections for CNN+ are expected to be cut dramatically in response to a low adoption rate, two sources tell Axios.
Discussion:
@sarafischer, CNBC, @brentscher, @ishaantharoor, LostRemote, @hemjhaveri, @buccocapital, The Wrap, @emeriticus, @richlightshed, @parkermolloy, @scottnover, The Kitchen Pundit, @mattbelloni, @firstadopter, @justinbaragona, @coreypein, @fawfulfan, @dgisserious, @krystalball, @foster_type, @notcapnamerica, @sarafischer, @capeandcowell, @bmorrissey, @claireatki, @awprokop, @jbarro, @mattzeitlin, @rafat, @bgrueskin, @matt_walsh, @matthewsitman, @dankennedy_nu, Mediaite, @alexweprin, TechCrunch, @lucas_shaw, @ldignan, @jonfriedman and Bloomberg
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Alex Sherman / CNBC:
Sources: CNN+ has fewer than 10K daily users; CNN, the cable channel, had an average of 773K total viewers a day in 2021 — - Fewer than 10,000 people are using CNN+ on a daily basis two weeks into its existence, sources said. — The paltry audience casts doubt on the future …
Discussion:
Axios, Gawker, Mediaite, New York Post, The Wrap, Protocol, Gizmodo, The Desk, The Verge, @drewholden360, @joeconchatv, The Scroll, @ranjanxroy, @walthickey, @reckless, @rebeleconprof, The Daily Beast, @davidclinchnews, @bennyjohnson, @esotericcd, @buzzpatterson, The Streamable, @jackmarshall, @benmorrissey16, Decider, @pnjaban, @nanhayworth, @andygrewal, @wyattduncan and @mascmillennial, more at Techmeme »
Diane Haithman / The Wrap:
Warner Bros. Discovery closed up 1.27% on Monday at $24.78 per share, after opening at $24.08 on its Nasdaq trading debut
Discussion:
Media War & Peace, @thewrap, Dallas Business Journal, Fierce Video, Barron's Online, The Hollywood Reporter, Yahoo Finance, Deadline, Next TV and AT&T
Sarah Scire / Nieman Lab:
After a two-year pause, the News Leaders Association is sharing its newsroom diversity survey this week; 303 outlets participated, missing the goal of 2,500 — Meredith Clark, who has led the News Leaders Association's diversity survey in recent years, has resigned from the project.
Discussion:
@niemanlab, @meredithdclark, @kat__stafford, @cristymsilva, @anitawrites, @blackamazon, @andreagrimes, @sarahkaplan48, @adriana_lacy, @jesseholcomb, @abdallah_fayyad, @arreglalo, @laurahazardowen, @notinmycolour, @hanaatameez, @mar1ssamart1nez, @sarahscire, @kaitwells, @blackamazon and @amzam
Elahe Izadi / Washington Post:
Gannett will cut at least one print day at 50 papers by June; Gannett exec says e-edition use is up 140% since March when print days were cut at 136 papers — When she was a child, Sandy Auburn's father read the comics to her; eventually, she learned to read them to him.
Discussion:
@sulliview, @rebareis, @seymabayram0, @tmorris504, @elaheizadi, @danlamothe, @cristymsilva, @beachwoodreport, @niemanlab, @michaelbolden, @agarrettabj and @washingtonpost
J. Clara Chan / The Hollywood Reporter:
Sources: Spotify's head of studios and video Courtney Holt will move to an “advisory role” in May; the company will divide his duties across multiple executives — The executive, who first joined the audio giant in 2017, will stay on as an adviser for a year.
Discussion:
Variety, The Ankler, Deadline, Billboard, The Wrap, @mootron, @janicemin, @karaswisher and @theinsneider
J. Clara Chan / The Hollywood Reporter:
IAB: advertising revenue for podcasts, music, and radio streaming rose 58% YoY to $4.9B in 2021, growing more than for streaming video, social media, and search — An IAB report finds that digital audio — defined as podcasts and streaming for music and radio — had the largest year …
Discussion:
insideradio.com and Ad Age
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Megan Graham / Wall Street Journal:
IAB: US digital ad spend rose 35% YoY to $189B in 2021, the largest gain since 2006; 10 publishers and platforms took 78.6% of the total, up from 78.1% in 2020
Discussion:
@neilretail, @kenherts, @jschulweis, @laurenthomas, Newslit Daily and MediaPost, more at Techmeme »
Alex Ritman / The Hollywood Reporter:
FIFA launches FIFA+, an ad-supported platform with live games from domestic leagues, archival content, and documentaries, but no World Cup games — The new ad-funded service will include live matches, a huge archive of World Cup clips and games, plus original content, including feature docs and series …
Sarah Perez / TechCrunch:
Spotify rebrands companion app Spotify Greenroom as Spotify Live and integrates its live audio capabilities in the main app minus the interactive features — As an earlier report had suggested, Spotify today announced it will integrate the live audio capabilities from its companion app …
Discussion:
Variety, Billboard, Engadget, Spotify, Hollywood Reporter, 9to5Mac and The Verge, more at Techmeme »
Washington Post:
Die Welt hires Marina Ovsyannikova, the journalist who interrupted a news broadcast to protest the war in Ukraine, as a freelancer reporter — Russian TV journalist Marina Ovsyannikova has been hired by the German media company Die Welt, a month after she drew worldwide attention for bursting onto …
Discussion:
@bywillpollock, @coldplague, Axel Springer SE, NPR, Radio Free Europe/Radio … and Faridaily
Ross A. Lincoln / The Wrap:
Returning from a hiatus, Rachel Maddow announces she will host her MSNBC show on Monday nights only from May to give herself more time to work on other projects — In her return from a hiatus of almost two months, Rachel Maddow announced on Monday night that starting in May, she'll begin hosting …
Discussion:
Mediaite, Deadline, Los Angeles Times, @gibsonradio, The Kitchen Pundit, @johnnydollar01, MediaPost, Newser, New York Post, Variety, TVNewser, Advocate, HuffPost, Forbes, Fox News, Axios and Hollywood Reporter
Sara Fischer / Axios:
Snap launches Dynamic Stories, which lets news outlets publish stories using RSS feeds, facilitating breaking news coverage, starting with 40+ publishers — Snapchat is rolling out a new product that aims to make it easier for news publishers to upload their content in real time as stories break, Axios has learned.
Discussion:
TechCrunch, Snap Newsroom, Adweek, 9to5Mac, Engadget, @erika_marzano, @davewiner, @noahchestnut and The Verge
Charlotte Rawlings / CampaignUK:
Time Out will end its London print edition after 54 years in June, to focus on its digital channels and Time Out Market, its events and restaurant arm — Publisher will focus on digital, social and Time Out Market. — Time Out Group has announced it will be stopping publication …
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