Top News:
Alex Weprin / The Hollywood Reporter:
Warner Bros. Discovery reports Q2 revenue of $9.8B, vs. $11.9B est., a $3.4B net loss, and 92.1M subscribers, counting HBO Max and Discovery+; stock falls 10%+ — The company is on a mission to find billions of dollars in cost savings.
Discussion:
Warner Bros. Discovery, New York Times, @billkuchman, SlashFilm, TechCrunch, Forbes, Variety, The Streamable, The Daily Beast, Gizmodo, Looper, @aagave, @masasoncap, @sherman4949, CNBC, @natjarv, @loudmouthjulia, @natjarv, @natjarv, @natjarv, @azalben, @natjarv, @aagave and @tvmojoe
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Todd Spangler / Variety:
On its Q2 2022 earnings call, Warner Bros. Discovery announced plans to launch a combined HBO Max and Discovery+ streaming service in the US in summer 2023 — HBO Max and Discovery+ will launch in the U.S. as a single service in the summer of 2023, JB Perrette, CEO and president …
Discussion:
Adweek, The Streamable, The Wrap, SlashFilm, UPI, Collider, Los Angeles Times, Looper, @cheo_coker, TV Insider, @freeblackgirl, @dylanbyers, @xpangler, @natjarv, @zaackhunt and Deadline
Rick Edmonds / Poynter:
Gannett executives expect economic uncertainty for the rest of 2022, will speed up real estate sales to pay down debt, and will cut staff “in the coming days” — Digital subscriptions are up, but, as expenses rise, other revenue streams are in a freefall
Discussion:
MediaPost, New Jersey Globe, @danrshafer, The NewsGuild, @giambusso, @newsguild, @gaufre, @bymikedavis, @poynter and @jeremylittau
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USA Today:
Gannett reports Q2 revenue down 6.9% YoY to $748.7M, a $53.7M net loss, revises guidance down, and plans real-estate sales and cost cutting; stock down ~28%
Discussion:
@npenzenstadler, @sulliview, Gannett, @verano305, @mattdpearce, @dinfontay, @hilton_annmarie, @mattlaslo, @elaheizadi, @tednesi, @marshallramsey, @jeffplatsky, @jonchesto, @nikkiusher, @jgrzelewski, @matttraub, @larryryckman, @freedom22bb, @joshua_newman, @gaufre, @rickedmonds, @svenaurich and @coreyhutchins
Oliver Darcy / CNN:
A jury finds that Alex Jones should pay $4M+ in compensatory damages to two Sandy Hook parents; a separate trial is expected to settle punitive damages — New York (CNN Business)Right-wing talk show host Alex Jones will have to pay the parents of a Sandy Hook shooting victim a little …
Discussion:
Bloomberg, WOOD-TV, @popehat, National Review, New York Post, NPR, UPROXX, Newser, CBS News, @chrisvanhollen, @melissadderosa, @popehat, @oneunderscore__, @popehat, @popehat, @hesherman, Jezebel, @themichaelmoran, The Daily Beast, @oliverdarcy and Vox
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Natalie Musumeci / Insider:
Alex Jones' trial reveals that Infowars made as much as $800K per day in 2018, and that the fake news site made $70M in revenue in its most recent fiscal year
Discussion:
@oneunderscore__, Observer, VICE, The Wrap, Associated Press, Mediaite, @willsommer, NBC News, The Verge, Forbes, @bgrueskin, New York Times, @bestforbritain, @jonallendc, @_secondthought, @atrachelgilmore, @dansolomon, @dansolomon, @elise_jordan, @reallorraine, @jeffjarvis, @egavactip, @cameronwilson, @gideonrachman, @froomkin, @maitlis, @zeynep, @janusrose, @nandoodles, @oneunderscore__, @annamerlan, @darbyscastle, @stevesilberman, @randfish, @maxapotter, @jenmercieca, @hasanthehun, @oneunderscore__, @emptywheel, @emptywheel, @realkellyjones, @popehat, @insidernews, @thetweetofjohn, Associated Press, VICE, Deadline and Law & Crime
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, IndieWire, @tvgrimreaper, @kirbyslastsnack, UPI, Engadget, @aurahack, Paramount and Variety
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Georg Szalai / The Hollywood Reporter:
Paramount reports nearly 64M global streaming subscribers in Q2 2022, up from 62M+ in Q1 2022, and 43M+ Paramount+ subscribers in Q2, up from ~39.6M in Q1
Discussion:
Variety, @tvgrimreaper, The Streamable, @adrianweckler, @thr, TechCrunch, UPROXX, @xpangler, @thr, @kimmasters, @xpangler, The Streamable and Deadline
fuboTV:
FuboTV reports Q2 revenue up 65% YoY to $216.1M, a $116.3M net loss compared to $94.9M YoY, and paid subscribers up 41% YoY to 946,735; the stock jumps 20%+ — NEW YORK—(BUSINESS WIRE)— FuboTV Inc. (NYSE: FUBO), the leading sports-first live TV streaming platform, today announced …
Discussion:
Next TV, Front Office Sports, @tvgrimreaper and fuboTV
Tarpley Hitt / Gawker:
Seven sources close to The New Yorker say Erin Overbey's public version of events leading up to her firing excludes 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 the magazine and top editor David Remnick.
Discussion:
@jessesingal, @brandonetc, @thatjenmonroe, @benjamingoggin, @noahyoo, @ericdharvey and Today in Tabs
Jacob Liedke / Pew Research Center:
Survey: 16% of US journalists are in a union and 41% say they would join if one were available; 57% of those aged 18-29 would join vs. 33% of those aged 50-64 — At a time when newsrooms in the United States are seeing a wave of unionization, around one-in-six U.S. journalists …
Discussion:
@hamiltonnolan, @thesarahkelly, @joshuaerlich, @johngramlich and @pewjournalism
Ron French / Bridge Michigan:
A Michigan town votes to defund its library because its employees declined to remove LGBTQ-themed books; the library will likely run out of money in 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, @phil_lewis_, @jemartisby, @gadyepstein, @zackford, Insider, @bracknerrichard, @ncshusterman, @lebatardshowfan, @lebatardshowfan, @ryanbeckwith, @lebatardshowfan, @mariskreizman, @purplechrain, @ohiohag, @ord_red, @lebatardshowfan, @mimzway, @amescg, @mariskreizman, @mikebutcher, @blakepater, @xtheexiled, @lebatardshowfan and @stevesilberman
Josh Eidelson / Bloomberg:
Unionized Thomson Reuters journalists in the US launch a 24-hour strike, over pay raises, starting at 6am ET on August 4, the first walkout in decades — 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, @rmc031, @rweingarten, @reutersguild, @drixander, @josheidelson, @randewich, @sineadcarew, @fedcourtjunkie, @juliocesrchavez, @dlind, @mattmillsphoto, @katielpaul, @sarahnlynch, @nicholagroom, Observer, @nyguild, @six6jiang, @peard33, @josheidelson, @sarahnlynch, @nylahuda, @newyorkerunion, @reuterszengerle, @nickpbrown, Poynter, @felixsalmon, @rover829, @josheidelson, @josheidelson and Press Gazette
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 …
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, @astaniscia86, @asharma, @benmullin, @bysarahkrouse, @carlquintanilla, @mediainsider and Insider, more at Techmeme »
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