Top News:
New York Times:
Sources: The Washington Post is on track to lose money in 2022 after years of profitability, and CEO Fred Ryan floated cutting 100 jobs; WaPo denies staff cuts — With digital subscriptions and digital advertising revenue stagnating, the company is on pace to lose money this year.
Discussion:
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Alex Heath / The Verge:
Netflix hires two Snap executives to lead its ad-supported tier: Chief Business Officer Jeremi Gorman and VP of Sales for the Americas Peter Naylor — Snap's VP of ad sales is also leaving for Netflix — Netflix has found an executive to lead its plan for an ad-supported tier …
Discussion:
Ad Age, Variety, Axios, @pkafka, @akruglov, The Wrap, Adweek, Wall Street Journal, Deadline, @richlightshed, @tkawaja, @alexeheath, Next TV and Slashdot, more at Techmeme »
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Alex Heath / The Verge:
Sources: Snap plans to start laying off ~20% of its 6,400+ employees on August 31, 2022 — Snap's stock price has declined nearly 80 percent this year — Snap is planning to lay off approximately 20 percent of its more than 6,400 employees, according to people familiar with the matter.
Discussion:
Insider, Ad Age, Gizmodo, Forbes, Digital TV Europe, @editorialiste, @themediaisdying, Variety, @om, @pierce, @joannastern, @tessak22, The Information, @jason_kint, @elgray, New York Post, The Wrap and Transistori, more at Techmeme »
Kaya Yurieff / The Information:
Substack reining in writer cash advances and other benefits like health care shows a broader cutback by tech companies, after a two-year battle to lure creators — Substack shook up traditional media last year, offering six-figure cash advances and benefits including healthcare to recruit writers …
Discussion:
@emilybell, @mattlech, @s_m_i, @simonowens, @dangillmor, @karlbode, @kateclarktweets, @kyurieff, @notd_io and @amir
Jim Waterson / The Guardian:
As Reach journalists join the UK's largest newspaper strike in decades, some describe struggling to pay their bills amid the cost of living crisis — Industrial action expected on Wednesday is largest strike to hit UK newspaper industry in decades — hen hundreds of staff at the Mirror …
Discussion:
Press Gazette, @royalreporter, @jimwaterson and @jenwilliamsmen
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Alan Yuhas / New York Times:
Amid growing outrage, Bell Media CEO Mirko Bibic denies that gender, age, or gray hair were factors in dismissing veteran CTV journalist Lisa LaFlamme — The chief executive of a Canadian news network pushed back against allegations that sex, age or gray hair were factors in the abrupt dismissal …
Discussion:
@charlesadler, B&T, Columbia Journalism Review and Canadian Press
Sara Fischer / Axios:
Time acquires Brandcast, which offers a no-code service for creating websites, and rebrands it as Time Sites; it is Time's first acquisition under the Benioffs — Time has bought Brandcast, a company that licenses software for easy-to-build marketing websites, Time's editor-in-chief and CEO Edward Felsenthal told Axios.
Discussion:
@axios, @raju, @markstenberg3, @sarafischer and TIME
Todd Spangler / Variety:
Samsung announces more content from partners for its ad-supported TV Plus service, adding shows like the BBC's Top Gear and touting local news in 40+ US markets — It's the start of a new chapter for Samsung TV Plus, TV manufacturer's free ad-supported TV (FAST) and video on-demand service …
Discussion:
The Streamable, Axios, Samsung Newsroom, Digital TV Europe, MediaPost, Media Play News, Next TV and Deadline
Colin Stutz / Billboard:
Sony Music sues Triller for failing to pay licensing fees for months while continuing to use Sony's catalog after Sony ended their deal earlier in August 2022 — The record label says it's owned millions in monthly payments and for copyright infringement since it terminated their licensing agreement earlier this month.
Mark Bergen / Bloomberg:
A book excerpt details YouTube's efforts to remove Islamic extremist content and how the platform mostly failed to address other forms of political extremism — Unlike many of her colleagues at YouTube, Tala Bardan doesn't remember the company retreat in June 2017 as a nice long weekend.
Discussion:
@bradstone, @daveyalba, @fightextremism, @alexbarinka, @bridgeinit and @joshsteimle
Charlotte Klein / Vanity Fair:
An interview with The New York Times' Astead Herndon on his upcoming podcast The Run-Up, which aims to cover the US midterms focusing on ideas over news scoops — Host Astead Herndon wants his forthcoming podcast, The Run-Up, to cover the midterms for more than the political-insider set.
Discussion:
@asteadwesley, @abbydphillip, @rerutled, @conorsen, @charlottetklein and @mlcalderone
Pak Yiu / Nikkei Asia:
Apple Daily Taiwan, an online news outlet with ties to detained Hong Kong media tycoon Jimmy Lai, plans to close on August 31, 2022, after sale talks fell apart — Would-be buyer says he will instead hire ex-staff for own new outlet — HONG KONG/TAIPEI — Apple Daily Taiwan …
Discussion:
@abpevzner, @tchau01 and Reuters
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