Top News:
Jon Porter / The Verge:
Facebook splits the Feed on iOS and Android into Home, a TikTok-style tab with recommended content, and Feeds, a chronological tab of followed pages and people — While new Feeds tab will show chronological content from pages you actually follow — Facebook's almighty News Feed is getting split in two... kind of.
Discussion:
Axios, CNN, Ad Age, @pierce, @richlightshed, Adweek, Digital Trends, @jamespmcleod, @oliverdarcy, Engadget, @sarafischer, @carnage4life, TechCrunch, @kylewilsontharp, @jakemhs, @axios, @jaredlholt, Mashable, @jayrosen_nyu, @fidmart85, @aria_gerson, @kerrymflynn, @5dollarfeminist and @baekdal, more at Techmeme »
Jonathan Vanian / CNBC:
Snap Q2: revenue up 13% YoY to $1.11B, vs. $1.14B est., DAUs up 18% to 347M, vs. 344.2M est., a $422M net loss, up from $152M YoY; stock falls 25%+ after hours — - Snap missed on the top and bottom lines in its second-quarter earnings report. — The company authorized a stock repurchasing program of up to $500 million.
Discussion:
@kantrowitz, @levynews and Snap Inc., more at Techmeme »
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Hannah Murphy / Financial Times:
Snap plans to “substantially reduce” hiring, authorizes a stock repurchase program of up to $500M, and locks in CEO and CTO roles until at least January 1, 2027 — Social media company blames tough economic conditions as it posts net losses of $422mn
Bron Maher / Press Gazette:
NewsGuard, which rates news outlets using multiple criteria for credibility, downgrades Fox News from green, or trustworthy, to red, or “proceed with caution” — Fox News' credibility score has been downgraded to “red” by media watchdog Newsguard, meaning it “fails to adhere to several basic journalistic standards”.
Discussion:
@nandoodles, @checkmyadshq, @jljacobson, @moonalice, @pressgazette, @pressgazette and @pressgazette
Todd Spangler / Variety:
Netflix VP of Product Todd Yellin, who has worked at the company for almost 17 years, is leaving in September 2022 to pursue potential film and TV projects — Netflix veteran Todd Yellin, who has led the streamer's product teams spanning functions from user interface to pricing, is leaving the company.
Discussion:
@richlightshed, @jank0, @xpangler and The Hollywood Reporter
Sara Guaglione / Digiday:
Publishers that make money via affiliate marketing, including Hearst, Leaf Group, Future, Reviewed, and Wirecutter, say they saw record Amazon Prime Day sales — Despite unstable macroeconomic conditions and historic inflation in the U.S., many publishers had record Amazon's Prime …
Discussion:
@dcnorg, @digiday and @simonowens
Brian Morrissey / The Rebooting:
How Industry Dive, which has 26 publications in 23 industry segments and $100M+ in revenue, became profitable, by embracing ads, making smart bets, and more — Riches in niches — Publishing is often treated as a monolith, but there are many types of publishers with different business models.
Discussion:
@nataliegilmor, @simonowens, @seangriffey, @christopherwink, @freightalley and @ryanwillumson
Benoit Berthelot / Bloomberg:
A profile of Vincent Bolloré, dubbed the “French Murdoch”, whose €20B conglomerate controls Vivendi, which owns Canal+, TV channel CNews, and publisher Hachette — The seven-part 2019 American television series “The Loudest Voice” on Roger Ailes …
Discussion:
@bbgneweconomy
Dave Jamieson / HuffPost:
The Atlantic's tech and business workers tell management they plan to form a union with ~130 people in jobs like data analysis, software engineering, and sales — Workers are following in the footsteps of their editorial counterparts and asking the media company to recognize the union and bargain a contract.
Discussion:
@atlbiztechunion, @beep, @newsroomdev, @benschwartz710, @fhill_official, @atlbiztechunion, @ashleyfeinberg and nyguild.org
Dylan Smith / Digital Music News:
Warner Music Group becomes the first major label to adopt SoundCloud's user-centric payouts based upon listening instead of Spotify and others' pro rata model — About three months after celebrating the anniversary of its fan-powered royalty model, SoundCloud has officially inked a global licensing deal with Warner Music Group.
Discussion:
Axios, Engadget, The Verge, Complete Music Update, TechCrunch, @kerrymflynn and Music Ally
Naman Ramachandran / Variety:
Ofcom: Instagram becomes UK teens' most popular news source, used by 29%; 28% use TikTok and YouTube and 24% use BBC One and Two, down from 45% five years ago — Instagram, TikTok and YouTube are now the preferred mode of news consumption for British teenagers, a report by U.K. media regulator Ofcom has found.
Discussion:
Press Gazette, The Guardian, 9to5Mac, Reuters, Mashable, Times of India and The Independent, more at Techmeme »
Jim Waterson / The Guardian:
The BBC agrees to pay damages to a former nanny for false allegations she had an affair with Prince Charles, used to get the Princess Diana Panorama interview — False claims that Tiggy Legge-Bourke had affair with Prince Charles ‘were likely spread to help secure exclusive’
Discussion:
Press Gazette, New York Times, New York Post, CBS News, @cspencer1508 and Variety
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