Top News:
Alex Weprin / Hollywood Reporter:
Reed Hastings says Netflix plans to offer cheaper, ad-supported plans and will examine what those plans will look like “over the next year or two” — Co-CEO Reed Hastings revealed the move on an earnings call after the streaming giant disclosed it lost 200,000 subscribers during its most recent quarter.
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Emily McCormick / Yahoo Finance:
Netflix reports losing 200K net subscribers in Q1, vs. an estimated 2.5M net additions, and $7.87B revenue, vs. $7.95B est.; Netflix stock drops 35%+ — Netflix (NFLX) reported an unexpected decline in first-quarter net subscribers as the company navigated an exit from Russia and an increasingly saturated North American market.
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Gerry Smith / Bloomberg:
Many talk shows are struggling to adapt to streaming, as such shows depend on current events and streamers want programming that appeals to users globally — Streaming services have already proved that they can produce Oscar-winning movies, Emmy-worthy dramatic series and high-profile live sports.
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Todd Spangler / Variety:
Netflix estimates that its users are sharing passwords with 100M+ non-paying households globally, including 30M+ in the US and Canada, in violation of its rules — There's a whole lot of password-sharing going on across Netflix's customer base — and the streaming giant is eager to get money from the freeloading masses.
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Peter Vercoe / Bloomberg:
Netflix added 1.09M subscribers in Asia Pacific, the lone bright spot, helped by the success of the South Korean series Squid Game, its biggest launch — South Korean dystopian hit ‘Squid Game’ has helped make Asia a lone bright spot for Netflix Inc., which added more than 1 million subscribers …
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New York Magazine
Alex Pareene / The AP (Alex Pareene) Newsletter:
The reporters explaining that Taylor Lorenz's door knocking is common journalistic practice fail to grasp that the new right is opposed to any newsgathering — They want someone to knock on your door, too. Not to put you in the newspaper, though. — On Tuesday, Washington Post reporter …
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Michael M. Grynbaum / New York Times:
Joe Kahn announces his NYT leadership team; Marc Lacey and Carolyn Ryan will be managing editors starting June 14 — A pair of veteran Times journalists will serve in the newsroom's No. 2 position under the new executive editor, Joe Kahn. — Give this article- - - Read in app
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Michael M. Grynbaum / New York Times:
A profile of Joe Kahn, whose focus on China shaped his career, during which he won two Pulitzers and helped turn The New York Times into a 24-hour operation
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Makena Kelly / The Verge:
Six ex-staffers of Arsenal Media, co-founded by Benny Johnson to make GOP clients' content go viral, describe bullying, toxic HR practices, and late payments — In the breathless world of conservative online politics, Arsenal Media is here to help you go viral.
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@willsommer, @malshelbourne, @kellymakena, @joeperticone, @reckless, @kellymakena, @kellymakena and @kellymakena
Betsy Klein / CNN:
WHCA says Joe Biden will attend the White House Correspondents' Dinner on April 30, the first time a sitting president has attended since 2016 — President Joe Biden and first lady Jill Biden will attend the White House Correspondents' Dinner on April 30, the White House Correspondents' Association announced Wednesday.
Discussion:
Politico, Insider, New York Post, @timfullerton, @kevinliptakcnn, @juliewestfall and @whca
Matt Tamanini / The Streamable:
TiVo study finds 28% of US viewers resubscribed to pay TV after cutting the cord; 29% say it is because it is the best way to watch sports and major live events — Cutting the cord can be complicated. That's why we here at The Streamable try to make it as simple as possible for you.
Discussion:
@sherman4949
Adam B. Vary / Variety:
Entertainment Weekly Editor in Chief Mary Margaret is leaving and will be replaced by Executive Editor Patrick Gomez, who will take the title of general manager — Mary Margaret will exit her role as editor-in-chief of Entertainment Weekly, and she'll be replaced by EW executive editor Patrick Gomez …
Discussion:
The Wrap
Sara Fischer / Axios:
Rolling Stone CEO Gus Wenner says 2021 was the company's most profitable year in two decades, due to a renewed investment in live events and a focus on creators — Rolling Stone will debut its inaugural “Creators” issue Tuesday, featuring the first in-depth profile of YouTube star MrBeast.
Discussion:
@dcnorg, @jeffjarvis, @heyitschili, @fernriddell, @karissabe, @dcherring, @baekdal, @baekdal and @axios
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