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:
@katie_robertson, @benmullin, @katie_robertson, MediaPost, The Wrap, @rmac18, Mediaite, New York Post, @jaspar, @jfk_america, @tessaduvall, @thrasherxy, @danprimack, @semaforben, @benedictevans, @moorehn, @kemettler, @brian_callaci, @jm_mcgrath, @tenreirodaniel, @bigblackjacobin, @samthielman, @brianboyer, @rohitkachrooitv, @mattdpearce, @brianmfloyd, @loudmouthjulia, @natemcdermott, @sarahkaplan48, @emmacarew, @abeaujon, @dnvolz, @stevenjcbuckley, @benedictevans, @mattscalici, @zerohedge, @phillipspobrien, @peterwsinger, @edzitron, @tvgrimreaper, @pkafka, @glcarlstrom, @benmullin, @jamesrbuk, @dylanmatt, @brianvastag, @kimmasters, @benmullin, @wesleylowery, @crecenteb, @joshschwerin, @janefriedman, @epicciuto, @gbrockell, @eockerman, @bendreyfuss, @frances_coppola, @jayrosen_nyu and Just The News
Alex Heath / The Verge:
Netflix hires two Snap executives to lead its ad-supported tier plan: Snap's 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, The Wrap, Adweek, Deadline, @alexeheath, @pkafka, @richlightshed, @tkawaja and Axios
Alex Heath / The Verge:
Sources: Snap is planning to lay off ~20% of its 6,400+ employees; the layoffs are set to begin on Wednesday — 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:
Variety, The Wrap, New York Post, @themediaisdying and @pierce, more at Techmeme »
Kaya Yurieff / The Information:
Substack's retreat from offering cash and other support for writers reflects a broader reversal 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:
@dangillmor, @kateclarktweets, @amir, @karlbode, @kyurieff, @simonowens and @emilybell
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.
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:
@markstenberg3, @axios, @sarafischer, TIME and @raju
Ryan Broderick / Garbage Day:
Social media election “war rooms” are set up to obscure the fact that misinformation and disinformation are integral parts of user-generated content platforms — Read to the end for a great Reddit post — The Election War Room Scam — We're less than three months away …
Discussion:
@wexler, @broderick, @ellievhall, @venkatananth, @alexhern, PC Gamer, @jbenton, @carnage4life, @jaredlholt, @nberlat and @drewharwell, more at Techmeme »
Josh Dickey / The Wrap:
On the eve of its release, Regnery postpones Dinesh D'Souza's book version of 2000 Mules to October 25, 2022, citing a “publishing error” — Dinesh D'Souza's book version of “2000 Mules,” based on the film that makes widely debunked claims that people were paid to dump fraudulent ballots …
Discussion:
The Daily Beast, @ryp__, Mediaite, Deseret News, @jamesrbuk, @sharonwaxman and @willsommer
Todd Spangler / Variety:
YouTube Chief Business Officer Robert Kyncl plans to leave in early 2023 after 12+ years as a senior executive; Google veteran Mary Ellen Coe will replace him — Robert Kyncl will exit YouTube in early 2023 after more than 12 years as a senior exec at video giant.
Mark Stenberg / Adweek:
Ad Practitioners, which owns editorial titles Money and ConsumersAdvocate.org and the ad delivery service Navchain, rebrands as Money Group to reflect its focus — The six-year-old company is generating a nine-figure revenue, fueled by intent-based ads — The media company behind …
Discussion:
@markstenberg3 and Money Group
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, MediaPost, Samsung Newsroom, Media Play News, Deadline and Next TV
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:
@rerutled, @asteadwesley, @conorsen, @mlcalderone, @abbydphillip and @charlottetklein
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