Mediagazer: 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 (Gerry Smith/Bloomberg)

1:10 PM ET, April 20, 2022

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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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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.

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

Michael Grothaus / Fast Company:
Disney opens down ~4% and Warner Bros. Discovery opens down ~5%, after Netflix reported a drop in subscribers

Discussion: Breitbart, @mgsiegler, @carlquintanilla, @brianstelter, @modeledbehavior, @budrykzack and Gizmodo

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

Discussion: @cliffordlevy, @davidfolkenflik, @eugene_scott, @nickkristof, @grynbaum, @meslackman, @grynbaum and @nickconfessore

New York Times:

The New York Times Managing Editor Joe Kahn will succeed Dean Baquet as executive editor, starting in June; Baquet “will remain to lead an exciting new venture” — Mr. Kahn, 57, will take over a newsroom undergoing enormous change. — Give this article- - - Read in app

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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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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Taylor Lorenz / Washington Post:
A look at the woman behind Libs of TikTok, a Twitter account that reposts videos along with incendiary framing and is shaping LGBTQ+ right-wing media coverage

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Sara Fischer / Axios:

Sources: Warner Bros. Discovery suspended external CNN+ marketing and laid off CNN CFO Brad Ferrer, replaced by Discovery's CFO for streaming and international — Warner Bros. Discovery has suspended all external marketing spend for CNN+ and has laid off CNN's longtime chief financial officer …

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.

Discussion: Mediaite, Breitbart, @joetoplyn, @mqsullivan, @ingrahamangle, @jerrydunleavy, @samhaselby, @jamesoliphant, @jessesingal, @johnjedwards3, @lucas_shaw, @alexthomp, @gerryfsmith and @tomgara

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: Insider, Politico, @timfullerton, @juliewestfall, @kevinliptakcnn and @whca

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

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

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: @heyitschili, @fernriddell, @dcnorg, @karissabe, @jeffjarvis, @dcherring, @baekdal and @baekdal

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