Top News:
Alex Sherman / CNBC:
Sources: rival strategies for CNN+, combined with unexpected events like Jeff Zucker's resignation and the Discovery merger, fueled the service's rapid demise — Chris Licht wasn't supposed to start his new job as CNN's chief until May. — But on Thursday he found himself addressing …
Discussion:
New York Times, @sherman4949, New York Post, @mccarthyryanj, @pilhofer, @sherman4949, @cnbci, @niemanlab, @bgrueskin, @jaspar, @dangillmor, @margarita, @niemanlab, FTVLive, @realityblurred, @gabrielroth, Mediaite, @vivian, @lindsaygoldwert and Protocol
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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; much of the CNN+ programming will be reallocated to other 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:
@reporterporter, @ggreenwald, The Muffin por Mauricio …, @kromandavid, @emilyroseman1, @buffalogal, @nytimes, @benmullin, @jonlemire, @_richardhall, @dcnorg, @benmullin, @brianbrackeen, @thrasherxy, @gtcost, @teflongeek, @brianstelter, The Hill, @jennifersey, Hollywood Reporter, @profgalloway, @sarafischer, @hector_drummond, @axios, @saksappeal, @sarafischer, @qwongsj, @sarafischer, @beverlyhallberg, @sarafischer, @sarafischer, @bgrueskin, The Week and Ars Technica
Lucas Shaw / Bloomberg:
Sources: Netflix staff morale is sagging amid its cratering stock price, subscriber losses, and an engineering restructuring to create levels, such as “junior” — As Netflix shares plunge to their lowest point in five years, the company risks losing its most valuable resource: its star employees.
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Kif Leswing / CNBC:
As of Friday's close, Netflix had a $99.2B market cap, down from $300B+ in November 2021; Meta had a $532.6B market cap after passing $1T in June 2021
Discussion:
@gonzalosykora
Protocol:
Netflix lost 700K subscribers by suspending its service in Russia, where it was available for six years; ad-supported plans could help Netflix catch up abroad
Joe Flint / Wall Street Journal:
Sources: after churning out 500+ original programs in 2021, Netflix is looking to rein in costs and add fewer new titles with a greater emphasis on quality
Discussion:
The Playlist, Variety, Slate, @davidpoland, @thecatsenate, @chastaylor, MNTN, 9to5Google, IndieWire, @film_girl, @film_girl, @jp_biz, @ryanmcdevitt, @variety, @jimpethokoukis, SlashFilm, The Entertainment Strategy Guy, @nina_metz, @brettthousand, @ayeshaasiddiqi, @phil_lewis_, Breitbart, @scottfeinberg, Netflix & Chiffres, The Week and Puck
Charlotte Tobitt / Press Gazette:
Journalists from The Guardian, FT, and Daily Mirror were excluded from the UK Home Secretary's trip to Rwanda, where she signed a controversial immigration deal — Journalists from the Guardian, Financial Times and Mirror were allegedly blocked from joining Home Secretary Priti Patel's trip to Rwanda this month.
Discussion:
@pippacrerar, @katebevan, @frances_coppola, @digiphile, @liambyrnemp, @thetruthsword, @soniasodha, @drfrancesryan, @kevin_maguire, @sturdyalex and @thattimwalker
Katie Glueck / New York Times:
Florida Governor Ron DeSantis signs a bill revoking Disney's special tax status, effective as of June 2023, after a clash over the state's “Don't Say Gay” law — Gov. Ron DeSantis's move to revoke the company's special tax status in Florida showed how combative his party …
Discussion:
The Philadelphia Inquirer, The Atlantic, Vox, Discursive notes …, @larryglickman, @joyannreid, @patyoung44b, @imillhiser, @michaelshermer, @prchovanec, @davidafrench, @theatlantic, @zackford, @adriennelaf, @craigtimes, The Wrap, @harrisonjaime, @dellcam, Politico, @katieglueck, @pekingmike, @freddiecampion, @djlavoie, @jaynordlinger, @greenhousenyt, @akilahobviously, De Civitate, Washington Post, @lingerie_addict, The Verge and Associated Press
Javier Espinoza / Financial Times:
The EU finalizes the Digital Services Act, which will force social networks to toughen content moderation, reduce Google and Meta's ad targeting of minors, more — Companies such as Google and Facebook must moderate content more actively in regulatory clampdown
Discussion:
New York Times, @neilwalsh_un, Outside the Beltway, The Verge, @ranaforcongress, @cateyezgreen_, @commondreams, @senblumenthal, @stengel, @prestonjbyrne, @davekeating, @mr_james_c, @chassnews, @henryjfoy, @livingstone_s, Politico, @patrickgaspard, @b_fung, @richlightshed, @donie, @sascha_p, @daveleeft, @techwontsaveus, @katieharbath, CNBC, Protocol, @mr_james_c, @peterpham, @davidakaye, Washington Post, European Parliament, Wall Street Journal and Associated Press
Joy Press / Vanity Fair:
Streamers are acting like TV networks, pulling back on edgy content and seeking “elevated broadcasts”, like sitcoms, under financial pressure and competition — Desperate for subscriber eyeballs, streamers are pulling back on edgy content—and acting more like the networks they trounced in the revolution.
Discussion:
@dsrbroadway, @alanwhi72135615, @carina_bn, @vanityfair, @vanityfair, @vanityfair, @aolinha and @joypress, more at Techmeme »
Helen Davidson / The Guardian:
Hong Kong's Foreign Correspondent's Club scraps the Human Rights Press Awards days before it was due to announce the winners, citing national security law fears — Foreign Correspondent's Club's decision sparks outrage from journalists and resignations from press freedom committee
Discussion:
Financial Times and @danstrumpf, more at Techmeme »
Margaret Sullivan / Washington Post:
Joe Kahn's openness to criticism can help The New York Times, which hasn't had an ombudsman since 2017, rethink its approach to politics and government coverage — I know him. Here's why I think he might be the man for this perilous moment. — Unlike The Washington Post …
Discussion:
@jamesfallows, @lisatozzi, @taylorlorenz, @porter_anderson, @washingtonpost, @mattgurney, @amlwhere, @jayrosen_nyu, @jeffjarvis, @kheller, @kimzetter, @ericswalwell, @rschles, @jayrosen_nyu, @sulliview, @sulliview, @wajahatali, @michelemclellan, @kbandersen, @digiphile, @byronyork, @mickimaynard and American Press Institute
Josh Ye / Reuters:
Sources: Tencent-controlled Chinese video game streaming service Huya, which rivals DouYu, will lay off hundreds of staff; Huya had 2,075 employees in 2020 — Chinese video game streaming site Huya (HUYA.N) has started laying off staff, three sources close to the matter said …
Leon Gettler / The Conversation:
Investigation: in the past two years, regional Australia saw 100+ out of 435 newspapers cease printing, comprising 68% of the country's 182 news “contractions” — Australia's regional news outlets are dying a not-so-slow death, and COVID-19 has accelerated their decline.
Discussion:
Parliament of the Commonwealth of Australia and @conversationedu
Rick Edmonds / Poynter:
Some Houston journalists question the American Journalism Project's $20M commitment to create a new nonprofit news outlet, since Houston is not a news desert — It's part of a thriving nonprofit journalism movement. But reaction from within Houston's existing media ecosystem ranges from skeptical to icy.
Discussion:
@cltomlinson and @ckrewson
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