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2:35 AM ET, January 24, 2024

Mediagazer

 Top News: 
Sarah Whitten / CNBC:
Netflix reports Q4 revenue up 12.5% YoY to $8.83B vs. $8.71B est., global paid memberships up 12.8% to 260.28M vs. 256M est., net income of $938M, up from $55M  —  - Netflix added 13.1 million subscribers during the fourth quarter.  — The company now has 260.8 million paid subscribers.
RELATED:
Emma Roth / The Verge:
Netflix says it's looking to retire its ad-free Basic plan in some countries where ad-supported plans are available, starting with Canada and the UK in Q2  —  Although Netflix no longer allows new or returning members to sign up for the ad-free Basic subscription that costs $11.99 per month …
CNBC:
Netflix buys the exclusive rights to WWE programs like Raw, airing in 2025 in the US, Canada, Latin America, and more; filing: the 10-year deal is worth $5B+  —  - Netflix and TKO Group Holdings said Tuesday that the streaming platform will air the WWE's flagship program Raw starting next year.
Todd Spangler / Variety:
Netflix co-CEO Ted Sarandos says the WWE deal “fits within” its anticipated $17B spending on content in 2024 and is not a change to Netflix's sports strategy
Meg James / Los Angeles Times:
The Los Angeles Times announces it is laying off at least 115 people, or more than 20% of the newsroom, citing annual losses of $30M-$40M  —  The Los Angeles Times announced Tuesday that it was laying off at least 115 people — or more than 20% of the newsroom — in one of the largest workforce reductions …
RELATED:
Hanaa' Tameez / Nieman Lab:
The Los Angeles Times' layoffs have hit the outlet's Latino-focused vertical De Los, which was launched in 2023, and the Washington, DC bureau  —  “We are not in turmoil.  We have a real plan,” the paper's owner, billionaire businessman Dr. Patrick Soon-Shiong, said.
CBS News:
Charles Osgood, who joined CBS News in 1971, anchored CBS Sunday Morning for 22 years, and spent decades as a radio commentator, dies at age 91  —  Award-winning journalist Charles Osgood, who anchored “CBS Sunday Morning” for 22 years and was host of the long-running radio program “The Osgood File,” died Tuesday at home in New Jersey.
John Koblin / New York Times:
Sources: Netflix will begin streaming HBO's “Sex and the City” in early April but the series' spinoff “And Just Like That” will remain available only on Max  —  Media companies that had been reluctant to are increasingly offering shows to Netflix, which is pulling further ahead in the streaming wars.
Discussion: The Wrap and Rolling Stone
Aisha Malik / TechCrunch:
Google unveils a new Gemini-powered chat-based tool in Google Ads to build Search ad campaigns, out in beta to all English language advertisers in the US and UK  —  Google announced today that Gemini, its family of multimodal large language models, now powers the conversational experience within the Google Ads platform.
James Tapper / The Guardian:
A filing in a class action suit by 10 US artists against Midjourney and others lists 16,000 artist names whose work Midjourney had allegedly used for training  —  US lawyers approached about class action against Midjourney and other AI firms accused of ‘copyright laundering’
New York Times:
In 2023, no US films ranked among the 10 highest grossing in China, which is producing more high-quality movies that resonate with domestic audiences  —  No American films ranked among the 10 highest grossing in China last year as viewers who once flocked to foreign blockbusters continued to disappear.
Discussion: @thedragonfeeder
 
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 More News: 
Mark Sweney / The Guardian:
At a town hall, Reach CEO says staff have to face the “inconvenient truth” over its declining sale of print titles, but shift to digital will stabilize revenue
The 19th:
The 19th launches The 19th News Network, a group of national, regional, and local publishers who'll be able to republish, collaborate, share resources, and more
Donal O'Donovan / Independent.ie:
Irish independent publisher Mediahuis seeks to reduce headcount by ~10% to achieve cost saving of €4M per year; it employs around 549 in its publishing division
 Earlier Picks: 
Nikhil Agarwal / The Economic Times:
Zee Entertainment's shares crash 33%, marking its worst single-day fall in history, after Sony called off the $10B merger between its Indian media unit and Zee
Amanda Silberling / TechCrunch:
MrBeast's first video on X earns $263K+ in ad revenue in one week, but he calls it a “facade” as he thinks advertisers bought ads after noticing its popularity
Patrick Coffee / Wall Street Journal:
A look at the challenges Amazon Prime Video faces as it plans to show ads, including attracting large brands that don't already sell products on Amazon