Top News:
Katie Robertson / New York Times:
NYT Q1: digital subscribers up by 387K to 9.1M, revenue up 13.6% to $537.4M, and adjusted operating profit down 11% YoY to $60.9M due to The Athletic's losses — The purchase of The Athletic helped the company get closer to its new subscriber goal, but the sports site lost $6.8 million over two months, eating into overall profits.
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David Pierce / The Verge:
The New York Times credits Wordle for a huge jump in new subscribers, saying it “brought an unprecedented tens of millions of new users to The Times” — It's a gateway to crossword nuts and spelling bee champs. — Buying the hit puzzle game Wordle was apparently a good bit of business for The New York Times.
Discussion:
Twitter, Substack, Engadget, TechCrunch, Press Gazette and Bloomberg
A.J. Perez / Front Office Sports:
New York Times CEO Meredith Kopit Levien says the company will introduce ads this year on money-losing The Athletic and create NYT-Athletic subscription bundles — - The Athletic lost $6.8 million in the first two months since it was acquired by The New York Times.
Discussion:
@byajperez
Janko Roettgers / Protocol:
Cameo lays off 87 employees, or ~25% of its workforce; source: the chief technology officer, chief product officer, and chief people officer were among the 87 — Cameo, the celebrity video greetings startup, laid off 87 of staffers Wednesday, a move that CEO Steven Galanis described as “right-sizing.”
Discussion:
The Information, Variety, The Wrap, Engadget, @mr312, @protocol, @caseynewton, @lauramandaro, @thebenbergman, @lizperle, @lucasmtny and Bloomberg, more at Techmeme »
Oliver Darcy / CNN:
Journalists from multiple news outlets, including CNN, ABC News, NBC News, CBS News, and Politico, test positive for COVID-19 after the WHCD weekend — New York (CNN Business)A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here.
Discussion:
@natesilver538, @sherylnyt, STAT, Associated Press, @cnnpolitics, @drchristinemann, @byronyork, @highwiretalk, @sunlorrie, @oliverdarcy, @juliaioffe, @tmprowell, @wilkowmajority, @wajahatali, @juliaioffe, @drericding, @danaparish, @stevenportnoy, @medriva, @w7voa, @cfidd, @robbinsimmons7, @jeremymbarr, @drericding, @farhip, @jreinermd, @projectn95, Reason, Fox News, Boing Boing, Deadline, New York Post, Fox News, Mediaite, Page Six and Politico
Matt Tamanini / The Streamable:
Sinclair says its upcoming sports streaming service will be called Bally Sports+ and cost $189.99/year or $19.99/month, with a soft launch this quarter — On Wednesday, the Sinclair Broadcasting Group revealed its earnings report for the first quarter of 2022.
Discussion:
Next TV, Awful Announcing, @arrowheadlive, @zacharylownba, @amie_just, @eddie_rado, @kmartel_sports, @codybtapp, @msinger, @cassidy_rob, @jctrain21, MediaPost, @lukesummers7, @cclark_13, @richlightshed, @brewersraptor, @c2_cooper, @ericfishersbg, @nick_underhill, @travis_sawchik, Front Office Sports and Barrett Media
Jack Shafer / Politico:
Politico's scoop based on a leaked Supreme Court draft opinion serves the US public by showing the court's decision-making process and its plans for Roe v. Wade — Last night at 8:32 p.m., POLITICO reporters Josh Gerstein and Alexander Ward punctured the court's reputation as a leak-proof vessel …
Discussion:
@scotusblog, New York Times, The Boston Globe, Washington Post, Poynter, CNN, Media Matters for America, New Republic, Mediaite, Tom's FI News, @clairecm, The Atlantic, @dankennedy_nu, Tales From the Homestead, Slack Tide, @phillyinquirer, @jonkarl, @mepfuller, @currentrevolt, @ppvsrb, @zachmontellaro, @politicomag, @billgifford, @ivanoransky and @davidfolkenflik
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Kevin Breuninger / CNBC:
Supreme Court Chief Justice Roberts confirms the authenticity of the leaked draft Politico published and orders an investigation into the source of the leak
Supreme Court Chief Justice Roberts confirms the authenticity of the leaked draft Politico published and orders an investigation into the source of the leak
Discussion:
@johnkruzel, New York Times, New York Times, Politico, VICE, @jodikantor, Wired, Deseret News, @crewcrew, @vice, @jaywillis, American Press Institute, The Racket News, @roncoleman, The 74, Washington Post, @wiredscience, @froomkin, @curtisut, @freedomofpress, @benmullin, @davidgura, @karaswisher, @elaheizadi, @pbump, ABC News, @arawnsley, @pwnallthethings, @erikwemple, @markberman, @soledadobrien, Mediaite, Breitbart, The Week, Associated Press, Insider, New Jersey Online, Bloomberg, Wall Street Journal, Axios and NPR
Jody Godoy / Reuters:
An investment trust files a shareholder suit against Netflix, accusing the company of misleading investors about its ability to keep adding subscribers — Netflix Inc (NFLX.O) has been hit with a shareholder lawsuit in a U.S. court in California accusing the streaming entertainment company …
Discussion:
SlashFilm, Channel News, Variety, UPROXX, Breitbart, Gizmodo, IndieWire and Hollywood Reporter
Andrew Kersley / Press Gazette:
A 30-strong team backed by ITV and comprised of ex-Ladbible, Vice, and Channel 4 staff launches culture and lifestyle brand Woo to harness the “power of memes” — The news industry has failed to appreciate the “power of memes”, according to a new ITV-backed wellness media brand …
Discussion:
Press Centre
Caitlin Huston / The Hollywood Reporter:
Cumulus Media rejects an offer to acquire the company for $15 to $17 a share, or around $1.2B; a consortium led by Jeff Warshaw reportedly made the offer — Connoisseur Media CEO Jeff Warshaw was reported to have put in the offer for $15 to $17 a share. — Cumulus Media has rejected …
Discussion:
Inside Radio and Billboard
Michael Morisy / Muckrock News:
MuckRock will expand DocumentCloud access and enable document storage on Filecoin's network, with support from the Filecoin Foundation for the Decentralized Web — Upcoming award program will give $400,000 and technical support to key analysis, archiving and publishing projects
Sarah Perez / TechCrunch:
TikTok will launch Pulse, its first ad product with a revenue share program, in the US in June 2022, for eligible creators and publishers with 100K+ followers — TikTok is introducing a new way to lure advertisers to its platform by giving them the ability to showcase their brands' content next to the best videos on TikTok.
Discussion:
The Drum, Engadget, Social Media Today, Variety, Hollywood Reporter, @shiraovide, Tubefilter, @garettsloane, 9to5Mac, @asilbwrites, Adweek, Ad Age, Protocol and The Verge, more at Techmeme »