Top News:
Todd Spangler / Variety:
Disney reports Q1 revenue up 8% YoY to $23.51B, vs. $23.37B est., direct-to-consumer revenue up 13% YoY to $5.3B, and operating loss rose $0.5B to $1.1B — Overall, Disney posted revenue of $23.51 billion (up 8%) and adjusted earnings per share of 99 cents for the quarter ended Dec. 31, 2022 (Disney's Q1 of fiscal year 2023).
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Lillian Rizzo / CNBC:
Nelson Peltz says his proxy fight against Disney is over following Disney's announced restructuring: “Disney plans to do everything we wanted them to do” — Follow your favorite stocksCREATE FREE ACCOUNT — Nelson Peltz declared the proxy fight between his firm …
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Rebecca Picciotto / CNBC:
Bob Iger says “everything is on the table” when it comes to Hulu amid a discussion on his plans to pare back Disney's general entertainment content — Follow your favorite stocksCREATE FREE ACCOUNT — Disney CEO Bob Iger said Thursday that “everything is on the table” with streaming service Hulu.
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Lauren Forristal / TechCrunch:
Disney ended 2022 with 161.8M Disney+ global subscribers, down 1% QoQ, its first drop since 2020's launch; Hulu had 48M and ESPN+ had 24.9M, both up 2% QoQ
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The Streamable, MediaPost, IndieWire, @trengriffin, masslive.com and The Wrap
Todd Spangler / Variety:
Disney cuts its workforce by 7,000, or 3.2% of its ~220,000 global headcount, as the company tries to save $5.5B in costs, including $2.5B in non-content costs
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Sara Fischer / Axios:
Yahoo plans to lay off 20%+ of its workforce and restructure its ad tech unit, impacting 50%+ of the unit, or 1,600+ people; CEO says the cuts are “strategic” — Yahoo plans to lay off more than 20% of its total workforce as part of a major restructuring of its ad tech unit, executives told Axios.
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NewsNation:
NewsNation reporter Evan Lambert was freed from jail late February 8 after being arrested giving a live report at Ohio Governor Mike DeWine's press conference — EAST PALESTINE, Ohio (NewsNation) — A NewsNation reporter was released from jail late Wednesday after being arrested earlier …
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Isobel Lewis / The Independent:
UK media watchdog IPSO plans to investigate Jeremy Clarkson's Sun column on Meghan Markle after receiving 25,100+ complaints and will make the results public — Press watchdog received more than 25,100 complaints about column — Culture secretary defends Jeremy Clarkson's ‘right to say what he wants’
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The Guardian, Deadline, Hacked Off and @hackinginquiry
Jon Christian / Futurism:
Men's Journal rewrites and adds a note to its first AI-written article after a probe found 18 errors in it and says “early experiments are a work in progress” — THE OWNERS OF SPORTS ILLUSTRATED AND MEN'S JOURNAL PROMISED TO BE VIRTUOUS WITH AI.
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Mark Stenberg / Adweek:
Ad supply-side platform EMX, a subsidiary of Big Village, files for Chapter 11 bankruptcy; sources said EMX began struggling to pay partners last summer — The vendor, a subsidiary of Big Village, owed hundreds of thousands in unpaid revenue
Discussion:
BK Data, AdExchanger, Bloomberg Law and @markstenberg3
David Friend / Canadian Press:
Netflix rolls out its long-anticipated password sharing rules in Canada, New Zealand, Portugal, and Spain; other countries will be added in the next few months — Under new rules, premium and standard account holders will be given option to add extra members for $7.99 per month
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Sarah Grevy Gotfredsen / Columbia Journalism Review:
Tow Center analysis: ~4,000 journalists at US outlets tweeted 3% less per day on average after Elon Musk's takeover; those at right-leaning outlets tweeted more — b — New research from the Tow Center for Digital Journalism into the habits of journalists on Twitter during …
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Todd Spangler / Variety:
Dish's Sling TV rebrands Sling Free to Sling Freestream, which will carry 210 free channels, 41K on-demand titles, and expand further by the end of spring — Sling TV, the internet-streaming division of Dish Network, is doubling down on free, ad-supported streaming television (FAST) and free …
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Wall Street Journal:
Sources: Warner Bros. Discovery plans to keep a standalone Discovery+ service after launching a streaming service that combines HBO Max and Discovery+ content — Move comes amid concerns that some Discovery+ subscribers might not want to move to upcoming pricier, bigger platform
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