Top News:
Sarah Whitten / CNBC:
Netflix reports Q2 revenue up 9% YoY to $7.97B, vs $8.04B est., and a 970K subscriber loss vs an estimated 2M subscriber loss; stock jumps 5%+ after hours — Netflix shares jumped 6% after the company said it lost fewer subscribers than anticipated during the second quarter.
Discussion:
Netflix, Variety, @hedgeyecomm, The Ankler, Music Ally, IndieWire, XDA Developers, The Week, @pkafka, @laurengoode, @smartleverage, @tvmojoe, @joshuaogundu, @klendathucap, @sherman4949, @lesliejosephs, @lucas_shaw, @sherman4949, @jpodnos, @carnage4life, @lesliepicker, @samro, The Daily Wire, Wccftech, Ponte al día, @lucas_shaw, @frankpallotta, @cnbcovertime, @shruti_shekar, @mylesudland, @variety, Axios, Protocol, New York Post, Fortune, Deadline, Deadline, Wall Street Journal, CBS News and Reuters, more at Techmeme »
RELATED:
Todd Spangler / Variety:
Netflix acquires Australian animation studio Animal Logic for an undisclosed cash price and expects the deal to close in 2022; Animal Logic has ~800 employees
Discussion:
About Netflix, @emohorgan, @crecenteb, Mumbrella, The Wrap, Reuters and TechCrunch
Todd Spangler / Variety:
Netflix plans to launch its cheaper, ad-supported plan in “the early part of 2023”, starting in “a handful of markets where advertising spend is significant”
Discussion:
Pocket-lint, 9to5Mac, @xpangler, @verge, Neowin, TechCrunch, The Verge, CNBC, TechRadar, Adweek, Polygon, Deadline, The Wrap and IndieWire, more at Techmeme »
Wall Street Journal:
Memo to staff: Meta is reallocating resources from Facebook's News tab and newsletter platform Bulletin, as the company focuses more on the creator economy — Senior executive tells employees that News tab and Bulletin newsletter platform will be ‘put on the backburner’
Discussion:
@keachhagey, @asharma, @vivian, @alexeheath, The Verge, @bendreyfuss, @rafat, @mattnavarra, @froomkin, @joshgerstein, @will_flannigan, @alexrkonrad, @peterbale, @revkin, @charlesornstein, @jamesrbuk, @johnghendy, @jason_kint, @film_girl, @nicholasvinocur, @robpegoraro, @bgrueskin, @bgrueskin, @jimwaterson, @jason_kint, @walthickey, @emilybell, @froomkin, @jbenton, @tim_bays, @jaycodon, @caseynewton, @nbashaw, Social Media Today and The Hill, more at Techmeme »
Matthew Doig / Medium:
An LAT editor who worked on the story about drug use by a USC dean refutes the claims made in a book by an LAT reporter about editors trying to kill the story — An LA Times reporter's book claims corrupt editors — myself included — tried to protect USC from an embarrassing exposé.
Discussion:
Media Nation, @lfung, @loebvernon, @gabekahn, @dangillmor, @farhip, @stephenrodrick, @a_cormier_, @jbflint, @cristymsilva, @jm_mcgrath and @froomkin
Sara Fischer / Axios:
Bloomberg Media is planning a major international expansion starting in 2022, hiring in-house talent in some markets and partnering with local outlets in others — Bloomberg Media is planning a major expansion into localized coverage of different regions around the world, CEO Scott Havens told Axios.
Discussion:
@sarafischer and Talking Biz News
The Guardian:
Guardian reports annual revenue for the year to April 2022 of £255.8M, up 13% YoY, and net operating inflow of £6.7M; digital revenue surpasses print, a first — Guardian Media Group (GMG) today announces outstanding financial results for the 12 months to 3 April 2022
Discussion:
The Guardian
Karen Maniraho / Columbia Journalism Review:
Q&A with five journalists who cover internet culture on how they describe their beat, decide what to cover, navigate algorithms, and more — Five journalists on covering the internet in search of meaning, not viral trends — “Ours is a period of increasing noise,” Jason Parham wrote earlier this year, for Wired.
Discussion:
@fka_tabs, @saba_h and Today in Tabs
Suchitra Mohanty / Reuters:
India's Supreme Court orders the release on bail of journalist Mohammed Zubair, who was arrested last month for an allegedly “highly provocative” 2018 tweet — India's Supreme Court on Wednesday ordered the release on bail of a prominent journalist arrested last month over what police said was a …
Sara Fischer / Axios:
Money magazine, once a prominent Time Inc. title, is profitable again in online-only form as a niche consumer finance brand, current owner Greg Powel says — Money, once a prominent business title under Time Inc., is officially a profitable business again in online-only form, its new owner Greg Powel told Axios.
Discussion:
@sarafischer, @kendallbaker and Talking Biz News
Tatiana Siegel / Rolling Stone:
Bots amplified the fan-led campaign to release Zack Snyder's Justice League; 13%+ of users in the conversation were deemed fake, above the typical 3% to 5% — A WarnerMedia report reveals that bots and other inauthentic users bolstered the fan-led campaign for director Zack Snyder's Justice League do-over
Discussion:
@noahshachtman, @brettsperminute, @adamctierney, @michaeltoole, @gossithedog, @knesix, @dramaticdevil, @cameronwilson, @thediscfather, @rickyrawls, ScreenRant, @cmonstah, @rocco_castoro, @papapishu, IndieWire, Fortune, CBR, @brendengallager, SlashFilm, The Verge, Gizmodo, Bleeding Cool, @jessehawken, @jessehawken, @alisontheperson, @josephwulfsohn, Vanity Fair, UPROXX, The Playlist, Forbes, Mashable, Insider, Engadget, TechRadar, The A.V. Club and CNET
Todd Spangler / Variety:
YouTube rolls out new shopping features, including a Shopify partnership to let eligible US creators and merchants link their Shopify store and YouTube channel — YouTube already soaks up billions of hours of the world's attention. Now the video giant also wants to hoover up a bigger piece of consumers' online purchases.
Discussion:
YouTube Official Blog, TechCrunch, Complete Music Update, @susanwojcicki, @nealmohan, @rkyncl, Billboard, @hsajwanization, Social Media Today, MediaPost, Tubefilter, iPhone in Canada Blog, Search Engine Journal, The Verge, Music Business Worldwide, 9to5Google, TechRadar and Adweek, more at Techmeme »
Andrew Fedorov / The Fine Print:
Three Substack Local fellows say the year-long grant program didn't provide much business support; Substack's Hamish McKenzie says success wasn't guaranteed — Last April, Substack committed $1 million to a program to give grants for local journalists to launch publications …
Discussion:
@thefineprintnyc, @andrewfed, @sarahscire, @scmitchp, @blackamazon, @megreenwell, @sarahscire, @kerrymflynn, @janefriedman, @simonowens, @hannaraskin, @sarahscire and @andrewfed
Ryan Barwick / Marketing Brew:
Ebiquity finds its ad clients spent ~$115M, ~7.8% of combined budgets, on clickbait sites with “made for advertising” content, between January 2020 and May 2022 — This ad spend goes to “made for advertising” inventory, which uses clickbait headlines to get eyeballs.
Discussion:
@marketingbrew, The Drum and Adweek
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