Top News:
New York Times:
Warner Bros. Discovery will shut down CNN+ on April 30, after its March 29 debut; sources: CNN+ had ~150K subscribers and was on pace to hit first-year goals — The new corporate owners of CNN are moving to end the new streaming service just weeks after a splashy debut. — Give this article- - - Read in app
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Sara Fischer / Axios:
Source: ~350 of CNN+'s 700 staff will be laid off with pay and benefits for the next 90 days; CNN+ programming will be reallocated to other streaming services — The shuttering of CNN+ three weeks after the subscription service launched will be remembered as one of the most chaotic moments of CNN's 40-year history.
Discussion:
@saksappeal, @beverlyhallberg, @sarafischer, Daily Mail, MediaPost and The Federalist
Todd Spangler / Variety:
AT&T reports HBO Max and HBO gained 3M subscribers to end Q1 with 76.8M globally; WarnerMedia revenue rose 2.5% YoY to $8.7B and ad revenue fell 3% YoY to $1.7B
Discussion:
Protocol, The Hollywood Reporter, Deadline, Engadget, @sherman4949, The Streamable, Forbes, TechCrunch, Next TV, Financial Times, WORLD SCREEN, iMore, The Wrap, Wall Street Journal, Reuters and Adweek
Wall Street Journal:
Sources: Meta is reviewing whether COO Sheryl Sandberg pressured the Daily Mail in 2016 and 2019 into killing stories about her then-boyfriend Bobby Kotick — Social-media executive, who dated the Activision Blizzard CEO, was part of campaign to persuade the U.K. tabloid to shelve a potential article
Discussion:
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Luke Winkie / Nieman Lab:
A look at the paranoia in BuzzFeed's newsroom after cuts and the company's SPAC deal, as its media peers weigh going public and the potential effects on staff — Many of the members of BuzzFeed's newsroom feel as if they were sold a bill of goods. — The digital media stalwart opened itself …
Discussion:
Columbia Journalism Review, @luke_winkie, @sewellchan, @niemanlab, @schulzsam, @reedfrich, @markstenberg3, @biettetimmons and @alissamarie
Joe Flint / Wall Street Journal:
Sources: after churning out 500+ original programs last year, Netflix is looking to add fewer new titles and focus more on quality, while reining in spending — Streaming service spent lavishly on productions to win subscribers, but now growth has slowed — Your browser does not support the audio tag.
Brendan Brady / Antenna:
Netflix had 3.6M US subscribers cancel in Q1 2022, over 1M more than in Q1 2021 and Q4 2021; gross additions in the past six quarters ranged from 2.2M to 2.9M — Netflix Q1'22 results revealed a quarterly net subscriber loss ( link). Antenna unpacked some of the latest dynamics around …
Discussion:
MediaPost and @loudmouthjulia
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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:
New York Times, @reckless, @taliaringer, @kennethturan, @smulpuru, Simone's Newsletter, Vanity Fair, @paul__armstrong, Deadline, Variety, @reckless, @reckless, @timsweeneyepic, @blackamazon, @nina_metz, CNBC, @alexweprin, @sherman4949, @aemccarthy, @digitalshields, Bloomberg and TechCrunch
Aisha Majid / Press Gazette:
Analysis: eight of the 50 leading local UK news sites drew 50%+ of their UK audience from nearby; for 20 sites, less than a third of their audience was local — As local print newspapers have declined and closed, traffic to local news websites across the UK has surged.
Discussion:
@liverpoolpost, @danielcave_, @joshi, @brianwhelanhack, @jamesrbuk and @jamesrbuk
Brooks Barnes / New York Times:
Florida's legislature votes to revoke Disney World's special tax district status, which it held for 55 years, after a clash over the state's “Don't Say Gay” law — Lawmakers in the state voted to revoke the company's special designation following a dispute with Gov. Ron DeSantis over a new education law.
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Rick Porter / Hollywood Reporter:
Nielsen: streaming services took 29.7% of US viewers' TV usage in March, the highest in the 11 months Nielsen has measured use by platform; cable took 36.9% — Nielsen's platform rankings for March also show cable posting gains driven by news coverage of Ukraine.
Discussion:
nielsen.com, @nielsen, Next TV and Deadline
Mollie Cahillane / Adweek:
Ad tech company Xandr partners with six Nielsen alternatives, 605, Comscore, EDO, Samba TV, TVision, and VideoAmp, to create an alternative for the TV ad market — Xandr is the latest company to jump on the alternative currencies train. Ahead of the upfronts, the ad-tech company partnered …
Discussion:
Business Wire, Ad Age, @adweek, Beet.TV and Radio & Television …
Maliha Shoaib / Vogue Business:
Condé Nast closes Vogue Russia and ceases publishing in the country due to the war in Ukraine and related censorship laws, after suspending operations in March — Condé Nast is closing Vogue Russia and ceasing publishing due to the ongoing war in Ukraine and related censorship laws, CEO Roger Lynch said today.
Discussion:
New York Post
David Barnett / The Guardian:
Report: UK publishers' total income hit a new high of ~$8.7B in 2021, up 5% from 2020; TikTok emerged as a driving force for new books and backlist purchases — The social media platform was a surprise driver for new and older books as sales rose 5% for print and digital
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