Top News:
Manish Singh / TechCrunch:
Spotify lays off ~17% of its workforce, or ~1,500 staff, to “rightsize” its costs, citing slow economic growth and rising capital costs, its third cut in 2023 — Spotify is eliminating about 17% jobs, its third round of layoffs this year, as the music streaming looks to become “both productive and efficient.”
Discussion:
Spotify, The Hill, Variety, The Desk, Inside Radio, Axios, Financial Times, The Wrap, Los Angeles Times, Engadget, UPROXX, Digital Music News, Billboard, CBS News, Ad Age, @tvgrimreaper, The Information, Fast Company, Rolling Stone, New York Post, Wall Street Journal, CMU, The Verge, The Hollywood Reporter, @carnage4life@mas.to, Neowin, Ars Technica, BBC, @markgurman, 9to5Mac, @sarafischer, Music Ally, Bloomberg, @lucas_shaw, The Guardian, Reuters, Engadget, CNN and The Bookseller, more at Techmeme »
Alex Weprin / The Hollywood Reporter:
Comcast president Mike Cavanagh says Peacock now has 30M paying subscribers, with an ARPU of $10 per month, and saw $2.8B in losses in 2023 — “We collected an eight and a half billion dollar check on Friday,” Mike Cavanagh said, adding that Disney's payment for Hulu has cleared.
Discussion:
The Desk, Next TV, The Wrap, Variety, Deadline, Simon Rice on LinkedIn, Media Play News, Streaming Better, @lmoses and @sherman4949
Etan Vlessing / The Hollywood Reporter:
Nexstar CEO Perry Sook says The CW may break even by the end of 2025 after Nexstar made about $100M per year in annual savings — Perry Sook said the advertising recession and the recent dual Hollywood strikes represent headwinds to getting beyond losses at broadcast network.
Charlotte Tobitt / Press Gazette:
James Dyson loses his £1M libel case against Mirror Group after a High Court judge rules Dyson was not caused “serious harm” by a January 2022 Mirror article — High Court judge says Brian Reade comment piece did not cause ‘serious harm’.
Discussion:
BBC, @pressgazette, The Guardian, @jolyonmaugham, @kevin_maguire, @shipbrief, @healthreglawyer, @pollyrippon, Boing Boing and Financial Times
Etan Vlessing / The Hollywood Reporter:
GroupM forecasts global ad spending to grow 5.8% YoY to $889B in 2023, excluding US political ads, and US political ad spending in 2024 to reach a record $15.9B — Worldwide advertising will post a 5.8 percent gain this year to $889 billion, before slowing to a 5.3 percent gain in 2024 …
Discussion:
Next TV, MediaPost, Deadline, VideoWeek, Wall Street Journal, Inside Radio, Tv Technology and AdExchanger
Kellen Browning / New York Times:
Kick, a Twitch rival that has generous creator deals, online gambling, and lax moderation, tries to move beyond edgy content amid public and regulatory pressure — The Twitch competitor has doled out generous deals to content creators. It has also faced criticism for its lax moderation and embrace of online gambling.
Discussion:
@psuitenetwork and @dannygroner, more at Techmeme »
Rob Davies / The Guardian:
The Barclay family regains control of Telegraph, after an Abu Dhabi-backed consortium helped pay off its £1.2B debt; the deal still requires government approval — Planned takeover still requires government approval despite Lloyds receiving funds owed
Discussion:
Bloomberg, Sky News, Financial Times, Telegraph, Media Makers Meet, Reuters, New York Post and Digital Journal
Alex Weprin / The Hollywood Reporter:
Streaming services seem to be increasingly open to bundling with rivals, as Verizon announces a $10 per month deal for Netflix and Max's ad tiers — A Verizon-backed Netflix and Max deal, and talks between Apple and Paramount suggest that streaming bundles may be about go get bigger and better.
Discussion:
The Wrap, The Verge, The Streamable, 9to5Google, BGR, Tv Technology, Reuters, Deadline, 9to5Mac, Streaming Better, Media Play News, The TV Answer Man!, Cord Cutters News and Wall Street Journal
Reuters:
A group of 83 Spanish media outlets files a lawsuit against Meta, citing unfair competition in the ad market due to its “massive” and “systematic” use of data — A group representing 83 Spanish media outlets on Monday said it has filed a 550 million euro ($598 million) …
Discussion:
TechCrunch, more at Techmeme »
Sam Buckingham-Jones / Australian Financial Review:
The Guardian's senior editors issue a rare joint message to staff, warning them on signing letters and posting messages that “risk compromising” its integrity — The Guardian's most senior editors have issued a rare joint message to their staff, warning journalists …
Discussion:
@samebjones, @_claireconnelly, @s_mitchell, @jonkudelka and @markdistef
Celeste Katz Marston / Nieman Reports:
Five lessons from successful local news startups, including focusing on a single mission, openness to non-traditional reporting, and engaging the public — Let's start with an encouraging statistic: Despite years of demoralizing reports on sweeping media layoffs, nearly 300 …
Peter Walker / The Guardian:
UK Culture Secretary Lucy Frazer confirms that the BBC will receive a below-inflation license fee increase; the £159 annual fee has been frozen for two years — Imminent announcement expected to signal further cuts to broadcaster's staffing and programmes
RELATED:
Anthony Ha / Engadget:
A look at the escalating battle between YouTube and ad blockers, as YouTube speeds up its methods to detect blockers and rolls out new ways to serve ads — Against all odds, open source hackers keep outfoxing one of the wealthiest companies. — YouTube recently took dramatic action …
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