Top News:
Faiz Siddiqui / Washington Post:
Twitter begins laying off staff, sending a “Your Role at Twitter” email to their company account for those staying and personal account for those leaving — Employees said the layoffs came across teams, as Twitter broadly reduced its workforce.
Discussion:
Bloomberg, New York Times, CNN, Insider, al.com, TMZ.com, The Indian Express, @byronyork, New York Post, Al Jazeera, Raw Story, Engadget, Gizmodo, Quartz, Reuters, Insider, Scroll.in, Wall Street Journal, ABC7, CNET, The Guardian, The Wrap, Deadline, The Information, The Hill, CBS News, The Daily Wire, The Hollywood Reporter and Variety, more at Techmeme »
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Casey Newton / Platformer:
Sources: Twitter plans to shut down newsletter platform Revue, acquired in January 2021, by the end of 2022, and has paused its four-month-old Notes product — A new Vine camera is in. Notes and Revue are out — With massive layoffs expected to hit Twitter tomorrow …
Discussion:
New York Times, Insider, The Guardian, One Man & His Blog, Bloomberg, @caseynewton, TechCrunch, @niubi, @zoeschiffer, @mattgertz, @lesliemac, @hamishmckenzie, @martinsfp, @angryblacklady, @hamishmckenzie, @adamparkhomenko, @bradmossesq, @tvgrimreaper, CoinDesk, @skastenbaum and @sharonodea, more at Techmeme »
Wall Street Journal:
General Mills and Audi paused Twitter ads, and sources say Pfizer and Mondelez did too; Elon Musk talked with WPP and its clients like Unilever and Google — Advertisers are concerned about a flurry of executive departures at Twitter and new owner Elon Musk's plans for content moderation
Joe Pompeo / Vanity Fair:
Some journalists say they are deleting their Twitter DMs, as many scoff at the idea of an $8 verification fee and make plans to use rival social media platforms — Journalists are deleting DMs, scoffing at Musk's $8 verification fee, and even considering bolting from the platform.
Discussion:
Insider, ZDNet, @astrokatie, @moveincircles, @tvgrimreaper, Al Jazeera, @knightlat, @mlcalderone, @helentobin, @clairehoworth, @pkafka, @scottnover, @joepompeo, Detroit News, New York Post, Washington Post, Barrett Media, Second Guess, The Hill, Waivly, Yahoo Finance, OpenSecrets.org and Forbes, more at Techmeme »
Alexandra Bruell / Wall Street Journal:
Over 200 employees from 14 Gannett newsrooms are staging a one-day strike today to push for better wages and protest layoffs and other cost-cutting measures — Protest across 14 newsrooms follows recent layoffs and cost-cutting at local-news publisher — More than 200 Gannett Co. staffers …
Discussion:
@nyguild, @ilanakeller, @jfmclooney, @kaitlynkanzler8, @newsfallon, @hbsastrowardoyo and nyguild.org
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Lillian Rizzo / CNBC:
Warner Bros. Discovery misses with Q3 revenue of $9.82B, vs. $10.36B est., adds 2.8M streaming customers to reach 94.9M total, and TV networks revenue fell 8% — - Warner Bros. Discovery reported third-quarter earnings after the bell on Thursday, missing analysts' estimates on revenue.
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Joe Flint / Wall Street Journal:
Since WarnerMedia's Discovery merger on April 8, the stock is down ~48%, debt is higher than at other media companies, and sources say 1,000+ have been let go
Discussion:
Next in Marketing, SlashFilm, The Hollywood Reporter, @jbflint, @jtoonkel, The A.V. Club, @mattgertz, @jbflint, @keachhagey, @rwhelanwsj, @digitalshields, @jbflint and TVLine
Murray Stassen / Music Business Worldwide:
Report: Spotify is exploring acquiring Anghami, a music streaming service focused on the Middle East and North Africa that went public via a SPAC merger in 2021 — Spotify is reportedly considering buying its MENA-focused rival Anghami. — That's according to a report published by Dubai-based Frankly magazine.
Discussion:
Frankly Magazine, Billboard, Music Ally and Digital Music News
Financial Times:
Sources: Rishi Sunak is expected to drop the sale of Channel 4 from a broader media bill aiming to bring Britain's broadcasting into the digital age — Privatisation expected to be among the many low-priority policies that will be scrapped by the prime minister
Discussion:
Variety, Deadline and Broadband TV News
Etan Vlessing / The Hollywood Reporter:
FuboTV reports a Q3 net loss of $152.7M, vs. $105.9M net loss in Q3 2021, $224.8M in revenue, up 44% YoY, and 1.23M subscribers in North America, up 31% YoY — The streaming service's latest quarter included a non-cash impairment charge of $35.5 million related to its decision to pull back from online sports wagering.
Discussion:
The Streamable and @richlightshed
Jay Peters / The Verge:
Hands-on with Netflix's Basic with Ads: while most shows have pre-roll ads, mid-roll ads are more unpredictable; many popular shows are locked to higher tiers — Clicking into something on Netflix's new ads tier is a roll of the dice: you never know how many ads you might have to sit through.
Discussion:
The Guardian, 9to5Mac, Deadline, The Verge, The Verge, Engadget, Tubefilter, Inverse, 9to5Google, Collider, Forbes, Variety, Gizmodo, Adweek, TechCrunch, CNET, The Streamable and Radio Times, more at Techmeme »
@insiderunion:
[Thread] Insider's union demands that management bargain over changes in writers' metric goals and the elimination of roles, after the paywall strategy shifts — Yesterday, our @insiderunion colleagues marched on global editor-in-chief @nichcarlson to demand he and other members of @thisisinsider management bargain with us about massive proposed changes to the newsroom. How did we get here? 🧵A thread... https://twitter.com/...
Discussion:
Semafor, @om, @thenickguy, @maddierenbarger, @stokessamanthaj, @dubsrewatcher, @tatejamesdotcom, @insiderunion, @insiderunion, @insiderunion, @insiderunion, @insiderunion, @insiderunion, @insiderunion, @insiderunion, @aprjoy, @rafat, @crossingjessica, @ben__tobin, @palafo and @jeffjarvis
Jennifer Maas / Variety:
AMC reports Q3 net revenue down 16% YoY to $681M as US ad sales dropped 10% YoY, and says it has 11.1M subscribers and streaming revenue grew 41% YoY — AMC Networks reported its third-quarter 2022 earnings Friday, revealing it hit 11.1 million paid streaming subscribers by the end of Q3 …
Discussion:
Next TV, The Wrap, Deadline and The Hollywood Reporter
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