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
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 »
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