Top News:
Sheila Dang / Reuters:
Internal research: Twitter has been losing “heavy tweeters”, who tweet three to four times a week, as their interest in news, sports, and entertainment wanes — “Is Twitter dying?” billionaire Elon Musk mused in April, five days before offering to buy the social media platform.
Discussion:
@sheila_dang, @sheila_dang, New York Magazine, @jimwaterson, @jrmcgrail, @gossithedog, @marshallk, @samro, @mccanner, @dloesch, @fred_delicious, @yourmandevine, @northmantrader, @travelinganna, @angelmendoza___, @theferocity, @richlightshed, @cwarzel, @blgtylr, @vahn16, @emilygorcenski, @mathewi, @amy_siskind, @taylorlorenz, @rasmus_kleis, @tomgara and @robpegoraro, more at Techmeme »
Todd Spangler / Variety:
YouTube's ad revenue dropped 1.9% YoY to $7.07B in Q3, below expectations of $7.42B and representing its first year-over-year drop in at least two years — Overall, Alphabet, Google's parent company, also came in below analyst estimates. The company posted revenue of $69.1 billion and earnings per share of $1.06 for Q3.
Sara Fischer / Axios:
Sources: YouTuber MrBeast is looking to raise ~$150M at a ~$1.5B valuation, to expand his video empire further into merchandise, restaurants, and consumer goods — MrBeast, the YouTube star-turned entrepreneur, is looking to raise around $150 million for his business at a roughly $1.5 billion valuation …
Discussion:
TechCrunch, Rolling Stone, @kantrowitz, @deftlyinane, @jayriq and Insider
Dawn Chmielewski / Reuters:
Spotify reports Q3 revenue up 21% YoY to €3.04B, MAUs up 20% YoY to 456M vs. 448.6M est., and Premium subs up 13% YoY to 195M; stock drops 6%+ on ad growth miss — Audio streaming service Spotify Technology SA (SPOT.N) Tuesday surpassed Wall Street's estimates for revenue and subscriber gains …
Discussion:
@ashleyrcarman, CNET, Ad Age, Billboard, Variety, Spotify, Bloomberg, @ashleyrcarman, @ashleyrcarman, @ashleyrcarman, Music Business Worldwide and The Verge, more at Techmeme »
Todd Spangler / Variety:
SEC filing: Warner Bros. Discovery expects to incur $3.2B-$4.3B in post-merger restructuring charges, including $2B-$2.5B in content write-offs, through Q4 2024 — The media company disclosed expected ranges for the charges in an SEC filing Monday. For the third quarter of 2022 …
Discussion:
The Hollywood Reporter, IndieWire, SlashFilm, Bloomberg, Financial Times, The Wrap, Forbes, Collider, @fadeinsoftware, @lanaveenker, @megjameslat, @xpangler, @dbarkin, @automaticzen, Axios, @alexweprin, @ggeneralholt8, MediaPost, Reuters, Media Play News, MarketWatch, Bloomberg, CNBC, Too Much TV Newsletter, Los Angeles Times, Next TV, Wall Street Journal and Deadline
Bron Maher / Press Gazette:
UK press regulator Impress kicks out Unity News Network, which grew out of the pro-Brexit campaign group UK Unity, over its Ukraine and COVID-19 vaccine content — Press regulator Impress has kicked right-wing Unity News Network out of its regulatory scheme “with immediate effect”.
Discussion:
@unitynewsnet
Therese Bottomly / Oregonian:
The Oregonian issues an apology for its past promotion of racist and xenophobic views and publishes an examination of its history dating back to 1861 — As editor of The Oregonian, the current leader of the newsroom, I unreservedly apologize to our readers and our community for the racism in this newspaper and the legacy it leaves.
Discussion:
The Oregonian, @davidminpdx, @jayrosen_nyu, @billoram, @bryanmvance, @oregonian, @robwdavis, @7im, @donnerkay and @ryantclarke
Guillermo Altares / El País:
An interview with Andrew Wylie, arguably the world's most powerful literary agent, about the attack on Salman Rushdie, Amazon behaving “like ISIS”, and more — The world's leading literary agent speaks about Salman Rushdie, Stephen King, Donald Trump and the e-commerce giant
Discussion:
@matthewdancona, @jmahrens, @praddenkeefe, CNN, The Wrap, Boing Boing, The Bookseller and Scroll.in
CNN:
Axios' Sara Fischer is joining CNN as an on-air contributor on the media beat; she will continue to oversee Axios' media coverage — Sara Fischer is joining CNN as an on-air contributor on the media beat, the network announced today. As Axios' media reporter for the last six years …
Discussion:
@oliverdarcy, @ashleyrgold, @hayekmg, @dmccabe, @sarafischer, @inafried, Talking Biz News and Barrett Media
Peter Lee / Hong Kong Free Press HKFP:
A Hong Kong court finds Jimmy Lai, founder of the defunct Apple Daily newspaper, guilty of fraud over using the paper's HQ; Lai has been in custody since 2020 — Jimmy Lai, the founder of defunct Hong Kong pro-democracy tabloid Apple Daily, has been convicted of fraud after being found …
Discussion:
Axios, @rsf_inter, @fy4chan, @antd, @robertmmahoney, @kevinkfyam, @marykissel, @sarafischer, Voice of America, @hk_watch, Bloomberg and Committee to Protect …
Patrick Coffee / Wall Street Journal:
A look at the increased use of celebrity deepfakes in ads, with or without their permission, raising legal and ethical questions for the marketing industry — Digital simulations of Elon Musk, Tom Cruise, Leo DiCaprio and others have shown up in ads, as the image-melding technology grows …
Discussion:
@patrickcoffee and @michellemanafy, more at Techmeme »
Baranjot Kaur / Reuters:
Report: the UK's Channel 4 is exploring being acquired by a nonprofit trust as an alternative to privatization; C4 is currently state-owned but ad-funded — British publicly-owned broadcaster Channel 4 is exploring whether it could be acquired by a non-profit trust as an alternative …
Discussion:
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