Top News:
Lisa Richwine / Reuters:
Netflix reports Q2 revenue up 2.7% YoY to $8.2B, vs. $8.3B est., net income up 3.3% YoY to $1.5B, 5.9M net new subs, and a Q3 forecast below est.; NFLX down 8%+ — Netflix Inc (NFLX.O) handily beat Wall Street earnings forecasts on Wednesday as a password-sharing crackdown …
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Manish Singh / TechCrunch:
Netflix brings its password-sharing crackdown to India and other markets and says an “extra member” option won't be offered in places with its new restrictions
Netflix brings its password-sharing crackdown to India and other markets and says an “extra member” option won't be offered in places with its new restrictions
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Peter White / Deadline:
Netflix increases its free cash flow estimate for 2023 from $3.5B to $5B, citing “lower cash content spend” due to the strikes and “timing of production starts”
Netflix increases its free cash flow estimate for 2023 from $3.5B to $5B, citing “lower cash content spend” due to the strikes and “timing of production starts”
Discussion:
Fortune, The Wrap, CNBC, Media Play News and The Hollywood Reporter
Or Goren / Cord Busters:
Netflix removes its most affordable $10/month ad-free Basic tier in the US and UK, charging new and rejoining members £10.99/month or $15.49/month for no ads
Netflix removes its most affordable $10/month ad-free Basic tier in the US and UK, charging new and rejoining members £10.99/month or $15.49/month for no ads
Discussion:
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New York Times:
Sources: Google tests an AI tool to produce news stories, pitching the service to the NYT, WaPo, News Corp, and other outlets as a helpmate for journalists — The product, pitched as a helpmate for journalists, has been demonstrated for executives at The New York Times, The Washington Post and News Corp …
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Max Tani / Semafor:
Sources: Showtime pulled a Vice documentary episode that featured Ron DeSantis' time as a US Navy lawyer at Guantanamo over fears of political consequences — The Scoop — Showtime slated “The Guantanamo Candidate,” a 30 minute-long episode of its Vice documentary series, for May 28.
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Katie Robertson / New York Times:
After scrutiny by campus newspapers, Stanford's president resigns and Northwestern fired its football coach, spotlighting the key role of student journalists — The president of Stanford and the head football coach at Northwestern left their positions after being scrutinized in campus newspapers.
Patrick Frater / Variety:
Media Partners Asia: South Korean premium VOD content captured 50% of SVOD viewership and 42% of freemium viewership across East Asia from January to June 2023 — Korean TV series and films are increasing still further their hold on streaming audiences across East Asia.
Discussion:
WORLD SCREEN and Deadline
Abner Li / 9to5Google:
YouTube increases the US price for YouTube Premium from $11.99 to $13.99 per month and for YouTube Music from $9.99 to $10.99 per month — The price of an individual YouTube Premium subscription is increasing by $2 to $13.99 per month in the US for new and current customers.
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Calum Jaspan / Sydney Morning Herald:
Australia launches a review to examine the funding terms of ABC and SBS and look at governance at the two broadcasters, including their boards' composition — The federal government has kicked off a review that will examine funding terms for the ABC and SBS and look at governance at the two broadcasters …
Discussion:
The Guardian
Naman Ramachandran / Variety:
Amazon and BBC Studios launch BBC Player and BBC Kids on Prime Video Channels in India for an annual add-on subscription of $7.30 or $2.42 for just BBC Kids — STREAMING — Prime Video and BBC Studios have launched BBC Player and BBC Kids on Prime Video Channels in India.
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Bloomberg, @bbcstudiosindia, WORLD SCREEN, @fangsbites.bsky.social and Gadgets 360
Jess Weatherbed / The Verge:
Google plans to begin gradually enabling Privacy Sandbox APIs for Chrome developers on July 24 after releasing Chrome 115, a milestone in phasing out cookies — The first phase of Google's long-standing plan to kill third-party cookies in Chrome is nearly complete.
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TechCrunch, Digiday and @jcsura, more at Techmeme »
Andreas Wiseman / Deadline:
Entertainment One plans to shut down its theatrical operations in the UK; sources say eOne's owner Hasbro will reduce staff in the country — EXCLUSIVE: Hasbro's reshaping of eOne continues with multiple sources telling us that the latter will cease theatrical operations in the UK.
Discussion:
Variety, @chordia22, @mistercoat and Axios
Haje Jan Kamps / TechCrunch:
A look at scammers on Fiverr claiming to sell TechCrunch articles, some of whom create fake websites as “proof” and appear to be part of an organized crime — I spent $800 to try to get a scammer to post an article on TechCrunch for me — A few times per day …
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Fox News, @haje, @haje, @lorakolodny, @sapiraviva, @haje, @britt_klontz and The Register
Hibaq Farah / The Guardian:
Ofcom survey: TikTok is the top news source for 12- to 15-year-olds in the UK, followed by YouTube and Instagram; 16- to 24-year-olds prefer Instagram for news — Algorithm-driven viral video app overtakes YouTube and Instagram as most used single source of news for young teenagers
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