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, Media War & Peace, @masasoncap, @natjarv, @natjarv, @azalben, Engadget, The A.V. Club, Decider, @natjarv, @azalben, @loudmouthjulia, @benmullin, @k_trendacosta, @azalben, @natjarv, @aagave, @aagave, @tvmojoe, @azalben, @azalben, @sherman4949, @natjarv, Dan's Stack, CNBC, IndieWire, 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:
The Wrap, Variety, The Wrap, Middlebrow Musings, @ericfrancisco24, The Hollywood Reporter, @xpangler, @cheo_coker, The A.V. Club, @marcellacomedy, @its_willyu, @makispoke, Breitbart, @dylanbyers, @scriptsbyjames, @dangillmor, @emtothea, Wall Street Journal, Junghoon's Direct Media …, The Hill, @hunteryharris, @thekjohnston, @cristalmarie, @thebexbecbecca, @zaackhunt, @freeblackgirl, @slangdini, @variety, @thedailybeast, @markharrisnyc, @natjarv, @myronjclifton, @variety, @its_willyu, @kirkwrites79, The Daily Beast, Collider, TVNewser, Adweek, Looper and The Streamable
Jill Goldsmith / Deadline:
CNN and Warner Bros. Discovery plan to launch a CNN Originals hub on Discovery+ starting August 19, featuring 800+ hours of current and legacy programming — CNN and Warner Bros. Discovery are launching a dedicated CNN Originals hub on Discovery+ domestically starting August 19.
Discussion:
Variety
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, @jeremylittau, @danrshafer, @jeffjarvis, The Kitchen Pundit, @gaufre, @newsguild, @poynter, @giambusso, @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 drops 20%+
Discussion:
@sulliview, @npenzenstadler, @verano305, @mattdpearce, @larryryckman, @marshallramsey, @dinfontay, @joshua_newman, @gaufre, @elaheizadi, @rickedmonds, @nikkiusher, @mattlaslo, @jonchesto, @coreyhutchins, @jgrzelewski, @hilton_annmarie, @matttraub, @freedom22bb, @tednesi, @svenaurich, @jeffplatsky and Gannett
Brian Steinberg / Variety:
AMC Networks names former ViacomCBS CFO Christina Spade as CEO starting September 9 and says it has 10.8M paying subscribers in Q2, up from 9.5M in Q1 — Christina Spade, a veteran media executive who was previously chief financial officer of the former ViacomCBS, has been named …
Discussion:
The Streamable, The Wrap, Deadline, GlobeNewswire News Room, The Hollywood Reporter and The Hollywood Reporter
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:
Associated Press, The Week, @popehat, NPR, CBS News, @chrisvanhollen, @marcimay22, Breitbart, @oneunderscore__, @melissadderosa, @oliverdarcy, @scalzi, @hesherman, @popehat, @popehat, @the_dead_letter, @themichaelmoran, @danabashcnn, @popehat, The Verge, WOOD-TV, UPROXX and Newser
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; stock jumps 15%+ — NEW YORK—(BUSINESS WIRE)— FuboTV Inc. (NYSE: FUBO), the leading sports-first live TV streaming platform, today announced its financial results …
Discussion:
@tvgrimreaper, Front Office Sports and fuboTV
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.
Discussion:
@diamondbackgg, @taylorcocke, @diamondbackgg, @diamondbackgg, @leadergrev, @jacobwolf and @owoathkeeper
Michelle Price / Reuters:
Visa and Mastercard end ties with the ad arm of Pornhub owner MindGeek, after a court ruled Visa must face a lawsuit alleging it is liable for CSAM distribution — Visa (V.N) and Mastercard (MA.N) on Thursday said they had suspended ties with the advertisement arm of MindGeek …
Discussion:
Financial Times, @laurenshirsch, @billackman, @anopensecret, Mastercard USA, Visa, Gizmodo, New York Post, @brianroemmele, CNBC, Variety and Law & Crime, more at Techmeme »
Aisha Malik / TechCrunch:
Clubhouse starts beta testing private communities called Houses, which can be created by a person or group looking for a more intimate alternative to Clubs — Clubhouse, the social audio app that rose in popularity amid the pandemic, is looking to shake up its platform with the launch of private communities called “Houses.”
Discussion:
@pdavison, @garylhenderson, @clubhouse, @om, @ericrweinstein, @ericnewcomer, @mattnavarra, @caseynewton, CNET and Social Media Today, more at Techmeme »
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:
@jasonhirschhorn, Variety, Deadline, Lionsgate and The Hollywood Reporter
Alex Ritman / The Hollywood Reporter:
Source: Disney will not release Pixar's Lightyear or the Baymax series on Disney+ in the Middle East due to LGBTQ content — While the platform in the region won't show kid-focused content with LGBTQ references, it will include films such as 'Doctor Strange and the Multitude of Madness …
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