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.
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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 …
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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
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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.
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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 — Merger created streaming-media giant, but leveraging company's assets has been tough in a competitive market
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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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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
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.org
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@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:
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Alex Sherman / CNBC:
CNBC cancels primetime general news show The News with Shepard Smith to refocus on business and market coverage; source: Smith plans to leave later in November — - CNBC has canceled “The News with Shepard Smith” after two years. — Smith is leaving the network after his show concludes later this month.
Discussion:
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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:
The Wrap, Next TV, Deadline and The Hollywood Reporter
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.
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