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, Variety, New York Times, @billkuchman, Decider, @masasoncap, @natjarv, @natjarv, @azalben, Engadget, The A.V. Club, IndieWire, @natjarv, @azalben, @loudmouthjulia, @k_trendacosta, CNBC, @azalben, @natjarv, @aagave, Dan's Stack, @aagave, @tvmojoe, @azalben, @azalben, @sherman4949, @natjarv, Looper, SlashFilm, CNBC and Variety
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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:
Variety, The Wrap, The Hollywood Reporter, Breitbart, @xpangler, @cheo_coker, ScreenRant, The A.V. Club, Looper, @marcellacomedy, @its_willyu, @makispoke, @dylanbyers, @scriptsbyjames, @dangillmor, @emtothea, Junghoon's Direct Media …, The Hill, @hunteryharris, Adweek, @thekjohnston, @cristalmarie, @thebexbecbecca, @zaackhunt, @freeblackgirl, The Daily Beast, @slangdini, @variety, @thedailybeast, @markharrisnyc, @natjarv, @myronjclifton, @variety, @its_willyu, @kirkwrites79, Collider, The Streamable and TVNewser
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:
The Week, @popehat, @the_dead_letter, @chrisvanhollen, @marcimay22, Breitbart, @oneunderscore__, @melissadderosa, @oliverdarcy, @scalzi, @hesherman, Newser, UPROXX, @popehat, @popehat, @themichaelmoran, @danabashcnn, @popehat, WOOD-TV, Rolling Stone and CBS News
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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:
The Guardian, @oneunderscore__, VICE, Associated Press, NPR, @willsommer, @bgrueskin, @yastreblyansky, @bestforbritain, @borzou, Observer, The Verge, @ilyseh, @jonallendc, @byjayroot, @_secondthought, New York Post, NBC News, @atrachelgilmore, @dansolomon, @dansolomon, @elise_jordan, @reallorraine, @jeffjarvis, @egavactip, @cameronwilson, @gideonrachman, @froomkin, @zeynep, @maitlis, @janusrose, @nandoodles, @oneunderscore__, @annamerlan, @darbyscastle, @stevesilberman, @randfish, New York Times, @hasanthehun, @maxapotter, @jenmercieca, @oneunderscore__, @emptywheel, @emptywheel, @realkellyjones, @popehat, @insidernews, @thetweetofjohn, Forbes, Rolling Stone, VICE and Associated Press
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, @poynter, @giambusso, @jeremylittau, @newsguild, @danrshafer, @gaufre, @jeffjarvis, The Kitchen Pundit, @bymikedavis, New Jersey Globe and The NewsGuild
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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:
@sulliview, @npenzenstadler, @verano305, @mattdpearce, @dinfontay, @larryryckman, @elaheizadi, @joshua_newman, @marshallramsey, @gaufre, @rickedmonds, @nikkiusher, @mattlaslo, @jonchesto, @coreyhutchins, @jgrzelewski, @hilton_annmarie, @matttraub, @freedom22bb, @tednesi, @svenaurich, @jeffplatsky and Gannett
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:
@tvgrimreaper, Front Office Sports 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:
@thatjenmonroe, @benjamingoggin, @overdramatique, @andizeisler, @gawker, @brandonetc, @jessesingal, @noahyoo, @ericdharvey and Today in Tabs
Brian Welk / The Wrap:
Lionsgate reports $893.9M in Q1 revenue, a $119M net loss, and 1.8M additional streaming subscribers in the quarter, bringing its global total to 26.3M — Lionsgate shares ticked higher in post-market trading on Thursday after the studio reported that its Starz unit realized a 57% increase …
Discussion:
Lionsgate, Variety, Deadline, @jasonhirschhorn and The Hollywood Reporter
Hunter Cooke / Sports Business Journal:
A look at the issues facing esports outlets, which should optimize their ad stack, broaden their content focus, prioritize SEO, and not rely on subscriptions — Early in July, most of the staff at Inven Global, a highly regarded online publication that specialized in reporting esports news from SK for the West, were laid off.
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, Too Much TV Newsletter, @kirbyslastsnack, @aurahack, @tvgrimreaper, MediaPost, Engadget, IndieWire, 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, Gizmodo, @adrianweckler, @kimmasters, @xpangler, @tvgrimreaper, @thr, @xpangler, @thr, The Streamable, TechCrunch, The Streamable and Deadline
Katie Kilkenny / The Hollywood Reporter:
The Writers Guild says it won $42M from Netflix for writers of 139 films as a result of arbitration over writers' residuals for the 2018 film Bird Box — The Guild says that, after arguing successfully in a case regarding the 2018 film ‘Bird Box,’ it is seeking an additional $13.5 million …
Oliver Darcy / CNN:
ABC names Alyssa Farah Griffin and Ana Navarro as permanent co-hosts of The View; a CNN spokesperson says both will remain CNN political commentators — New York (CNN Business)Alyssa Farah Griffin and Ana Navarro, two conservatives who have been extraordinarily critical of former President Donald Trump …
Discussion:
Salon, Axios, @garcelleb and @ewagmeister
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, @ejacqui, @ord_red, @rachelklaser, @lebatardshowfan, @jacremes, @lebatardshowfan, @lebatardshowfan, @mariskreizman, @zackford, @mikebutcher, @lebatardshowfan, @ryanbeckwith, @stevesilberman, @gadyepstein, @lebatardshowfan, @mariskreizman, @jessicashortall, @bracknerrichard, @ohiohag, @xtheexiled, @mimzway, @blakepater, @purplechrain, @amescg, @ncshusterman and Insider
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:
@thesarahkelly, @joshuaerlich, @hamiltonnolan, @pewjournalism and @johngramlich
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