Top News:
Josh Eidelson / Bloomberg:
Unionized Thomson Reuters journalists in the US plan a 24-hour strike starting at 6am ET on August 4, the first walkout in decades, over pay raises — Thomson Reuters Corp. journalists in the US are preparing to launch a daylong strike Thursday, the first walkout in decades among the media company's long-unionized staff.
Discussion:
@reutersguild, @laurenkgurley, Observer, Poynter, @dlind, @reutersguild, @josheidelson, @mattmillsphoto, @drixander, @sarahnlynch, @nicholagroom, @josheidelson, @randewich, @nyguild, @six6jiang, @peard33, @josheidelson, @sarahnlynch, @nylahuda, @newyorkerunion, @reuterszengerle, @nickpbrown, @felixsalmon, @rover829, @sineadcarew, @josheidelson, @fedcourtjunkie, @juliocesrchavez and Press Gazette
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Jacob Liedke / Pew Research Center:
Survey: 16% of US journalists are in a union and 41% say they would join one if it were available; 57% of those age 18-29 would join vs. 33% of those 50-64 — At a time when newsrooms in the United States are seeing a wave of unionization, around one-in-six U.S. journalists at news organizations report …
Discussion:
@johngramlich and @pewjournalism
Kenneth Li / Reuters:
Thomson Reuters reports Q2 revenue rose 5% YoY to $1.61B and operating profit rose 24% YoY to $391M — News and information company Thomson Reuters Corp (TRI.TO) reported higher second-quarter operating profit on Thursday and raised its full year revenue forecast.
Discussion:
Axios, @nateraymond, @davegregorio80, @newspaperworld and Talking Biz News
The Wrap:
Paramount reports Q2 revenue rose 19% YoY to $7.7B, while operating income fell 33% YoY to $819M, and says Pluto TV has nearly 70M MAUs — Paramount Global on Thursday beat analyst revenue expectations for its 2022 second quarter earnings, thanks largely in part to the humongous, $1 billion+ performance of “Top Gun: Maverick.”
Discussion:
Deadline, MediaPost, @kirbyslastsnack, Engadget, UPI, IndieWire, Paramount, Variety and @tvgrimreaper
RELATED:
Georg Szalai / The Hollywood Reporter:
Paramount reports nearly 64M global streaming subscribers in Q2, up from 62M in Q1, and 43M+ Paramount+ subscribers, up from 39.6M in Q1 — The company, led by CEO Bob Bakish, also grew monthly active users for its advertising-supported streamer Pluto TV. — Paramount Global added global …
Discussion:
Variety, The Streamable, Adweek, TechCrunch, @tvgrimreaper, @xpangler, @adrianweckler, @thr, Deadline, The Streamable, @thr, @kimmasters and @xpangler
Rick Edmonds / Poynter:
Gannett execs say the company expects economic headwinds all year, will speed up real estate sales to pay down debt, and will make staff cuts in coming days — Digital subscriptions are up, but, as expenses rise, other revenue streams are in a freefall — Gannett recorded …
Discussion:
MediaPost, @gaufre, The NewsGuild and @newsguild
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USA Today:
Gannett reports Q2 revenue down 6.9% YoY to $748.7M, a net loss of $53.7M, revises guidance down, and plans cost cuts and real-estate sales; stock falls ~28%
Discussion:
@npenzenstadler, Gannett, @sulliview, @larryryckman, @marshallramsey, @nikkiusher, @verano305, @dinfontay, @jgrzelewski, @matttraub, @hilton_annmarie, @mattlaslo, @freedom22bb, @elaheizadi, @joshua_newman, @tednesi, @gaufre, @jeffplatsky, @rickedmonds, @svenaurich, @mattdpearce, @jonchesto and @coreyhutchins
Tarpley Hitt / Gawker:
Seven sources close to The New Yorker say Erin Overbey's public version of events leading up to her firing leaves out critical context about her job performance — Two weeks ago, The New Yorker fired its archivist, Erin Overbey, after the longstanding staffer wrote an extensive thread blasting …
Discussion:
@brandonetc, @benjamingoggin, Today in Tabs, @jessesingal and @noahyoo
Ron French / Bridge Michigan:
A Michigan town votes to defund its library because library staffers refused to remove LGBTQ-themed books; the library will likely run out of money by late 2023 — - A west Michigan public library may close after residents voted to defund it Tuesday — Voters are upset about LGBT-themed graphic novels in the library
Discussion:
Literary Hub, @lebatardshowfan, @lebatardshowfan, @lebatardshowfan, @lebatardshowfan, @phil_lewis_, @lebatardshowfan, @mariskreizman, @mariskreizman, Insider, @ord_red, @mimzway, @bracknerrichard, @ncshusterman, @amescg, @mikebutcher, @blakepater, @xtheexiled, @ryanbeckwith, @stevesilberman, @purplechrain and @ohiohag
Wall Street Journal:
A look at Netflix's scramble to build an ad business as its subscriber growth lags; sources say Reed Hastings suggested Netflix could charge $80 per 1,000 views — Reed Hastings insisted on focusing on subscriptions until competitors started nibbling away at his business model
Discussion:
@valuetom84, Newslit Daily, @benmullin, @asharma, @astaniscia86, @bysarahkrouse, @carlquintanilla, @mediainsider and Insider, more at Techmeme »
Todd Spangler / Variety:
Warner Bros. Discovery has been quietly culling HBO Max content, including at least six Warner Bros. films and the House Party reboot, in apparent cost cutting — Warner Bros. Discovery has been quietly culling content from HBO Max — including several Warner Bros. movies that were exclusively streaming …
Discussion:
Rolling Stone, SlashFilm, IndieWire, Forbes, The Streamable, Us Weekly, The Wrap, Billboard, TVLine, Vibe, @variety, Know Your Meme, Vanity Fair, @discoballsack, The Playlist, @jfrankensteiner, @gerryconway, @dansolomon, Millennial Pink, @2minutetimelord, @jimmychampane, @culturecrave, @theericgoldman, @theashleyray, @awestruckvox, @kevinpanetta, @tvgrimreaper, @patrickcotnoir, @coopercooperco, @williambibbiani, @seanfennessey, @lindaholmes, Looper, Too Much TV Newsletter, The Hot Button, The Guardian, Vanity Fair, ScreenRant, Decider, SlashFilm, The Verge, The Streamable and Variety
RELATED:
The Wrap:
Sources: WBD CEO David Zaslav plans to announce a combined HBO Max and Discovery+ streaming service on August 4; 70% of HBO Max's development unit could be cut
Discussion:
@dylanbyers, Reuters, The Hollywood Reporter, Forbes, Insider, @culturecrave, Deadline, Variety, The Streamable, @pkafka, The Verge, New York Post, SlashFilm, Digital TV Europe, UPROXX, I Like To Watch, Fast Company, Looper, Inverse, @dsmithweb, @kaludiasays, @lucas_shaw, @coreydeshon, @cinemaniac94, @thewrap, @fordm, Boing Boing, @pleasedtomeetya, @tvgrimreaper, @enthusiamy, @alex_abads, @nash076, @joshsternberg, @ashleyesqueda, Vulture, @markharrisnyc, The A.V. Club, @gerberkawasaki, Deadline, Next TV, @variety, @bendreyfuss, @avishaiw, @tinch, @bradmiska, @krolljvar, Fortune, The Desk, Observer and ScreenRant
Financial Times:
Disney, Netflix, Comcast, Spotify, Fox, The New York Times, News Corp, and other large US media groups have collectively lost ~$380B in market value in 2022 — Companies that saw audiences swell during lockdown have fallen out of favour with investors — The largest US media companies …
Discussion:
@charlie_boss and @tvgrimreaper
Lee Enterprises:
Lee Enterprises reports Q3 operating revenue down 0.7% YoY to $195M, net income down 94.8% YoY to $0.2M, and digital-only subscribers up 49% YoY to 501K — Digital-only subscribers total 501,000 (49% YOY) Reached digital inflection point in advertising with 51% digital revenue Amplified …
Discussion:
MediaPost
AJ Vicens / CyberScoop:
Researchers find a network of at least 72 fake news sites pushing Chinese propaganda in North America, Europe, the Middle East, and Asia — A network of at least 72 bogus news sites in North America, Europe, the Middle East and Asia are part of a sprawling information operation pushing Chinese propaganda …
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