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 closes down 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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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, more at Techmeme »
Alex Weprin / Hollywood Reporter:
Netflix's Q1 earnings show that Disney, Paramount, and other companies that reorganized around streaming video must deal with consistent subscriber volatility
Discussion:
The Streamable, TechCrunch, CNBC, Variety, @nina_metz, @alexweprin and @aemccarthy, more at Techmeme »
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
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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 — On Tuesday, Washington Post reporter Taylor Lorenz published a story about a repulsive creep who uses her large online following to …
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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.
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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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.
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Politico, @thebuffalonews, Insider, New York Post, @timfullerton, @kevinliptakcnn, @juliewestfall and @whca
Aisha Malik / TechCrunch:
Instagram plans to tweak its ranking algorithm to highlight original content more, recommending accounts that aggregate and reshare other users' content less — Instagram head Adam Mosseri announced today that the company is going to tweak its ranking algorithm to highlight original content more on its platform.
Discussion:
@mosseri, The Verge, Engadget, @mikeisaac, @qwongsj, @mosseri and @tysonhutchins_, more at Techmeme »
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.
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@sherman4949
Dan Gallagher / Wall Street Journal:
FactSet estimates for Q1 2022 ad revenue: analysts expect Google to grow 23% YoY to $55.1B, Meta to grow 8% YoY to ~$27.5B, and Twitter to grow 25% YoY to $1.1B — Google's search business expected to stay resilient while social platforms grapple with challenges — Your browser does not support the audio tag.
Discussion:
@megancgraham and @jason_kint, more at Techmeme »
Shraddha Chakradhar / Nieman Lab:
Study of 130K articles published by 31 papers acquired by firms like Alden Capital finds a significant decrease in the volume of local content post-acquisition — From Alden Global Capital to Sinclair Media, tales of corporate media takeovers of local news outlets — and their chilling effects — are everywhere.
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