Top News:
Joshua Benton / Nieman Lab:
The Messenger's flop was the result of Jimmy Finkelstein's blindness to bad ideas, like its traffic-chasing strategy, not a consequence of economic headwinds — The flaws in the site's strategy were highly predictable (and repeatedly predicted). But Jimmy Finkelstein's muddled nostalgia …
Discussion:
Techdirt, @froomkin, @jayrosen_nyu, @jordannovet, @snigdhasur, @jragazzo, @scottnover, @ryangrim, @nohodge, @theakglassman, Axios, Newser, The Daily Beast and Variety
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The Daily Beast:
Ex-employees of The Messenger file a class-action lawsuit against the shuttered outlet, alleging that it failed to give them proper notice ahead of their firing — The class-action lawsuit comes just a day after The Messenger closed up shop for good, firing its hundreds of staff without offering them severance.
Discussion:
Politico, Deadline, @benmullin, @juliareinstein, @willsommer, @ellefs0n, @juliareinstein, Axios, The Hill, Hollywood Reporter and The Wrap
Jordan Hoffman / New York Magazine:
A Messenger journalist describes his time working for the outlet, where the expensive offices were empty and reporters were instructed to chase trending topics — A text time-stamped 1:19 a.m. early Wednesday read, “I think it's over, man.” It was a Los Angeles-based colleague at The Messenger.
Todd Spangler / Variety:
Filing: Amazon spending on content rose 14% YoY to $18.9B in 2023 despite Hollywood strikes — While other media companies have been paring back content spending, Amazon shelled out more than $2 billion more in 2023 for TV shows, movies and music than it did a year earlier.
Discussion:
The Wrap, Deadline, Broadband TV News, The Hollywood Reporter and Media Play News
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Annie Palmer / CNBC:
Amazon Q4: ad revenue up 27% YoY to $14.7B, vs. $14.2B est., subscription revenue up 14% YoY to $10.5B, and North America segment sales up 13% YoY to $105.5B
Discussion:
NBC 7 San Diego, NBC Bay Area, @ericjhonsa, @lucas_shaw, Spyglass, GeekWire, Search Engine Land, CNN and The Hollywood Reporter, more at Techmeme »
Wall Street Journal:
Sources: federal authorities have been investigating sexual assault and sex trafficking allegations against WWE co-founder Vince McMahon since 2022 — Authorities have been interviewing women who accuse longtime WWE boss of sexual misconduct — Federal authorities have been investigating sexual assault …
Discussion:
Wrestlezone, POST Wrestling, The Sun and Metro
Will Sommer / Washington Post:
The WSJ lays off ~30 staffers as it restructures its DC bureau and shutters the US-China news team; laid-off staffers will be allowed to apply for some new jobs — The Wall Street Journal took a hatchet to its Washington bureau on Thursday, laying off roughly 20 staffers in a restructuring …
Discussion:
Columbia Journalism Review, HuffPost, The Daily Beast, @maxwelltani, Talking Biz News, @katie_robertson, @bgrueskin, @corbinbolies, @azambelich, @samro, @theamarareport, @theamarareport, @katie_robertson, @jhweissmann, @katie_robertson, @kaivanshroff, @feliciasonmez, @rhcm123 and @bgrueskin
Salvador Rodriguez / Wall Street Journal:
Meta reports Q4 revenue up 25% YoY to $40.1B, with ad revenue of $38.7B, ad impressions delivered across its Family of Apps up 21%, and average ad price up 2% — Company posts biggest quarterly revenue gains in two years — Facebook parent Meta Platforms posted its fourth consecutive quarter …
Marc Schneider / Billboard:
Merck Mercuriadis is stepping down as CEO of Hipgnosis Song Management and will be replaced by Ben Katovsky, the company's current president and COO — Mercuriadis will transition to chairman, with Ben Katovsky rising to chief executive as the advisor eyes smoother relations with its publicly listed royalty fund.
Kevin T. Dugan / New York Magazine:
Interviews with shareholders and current and ex-employees suggest that SI's publisher Arena missed the licensing payment by choice, not because it lacked money — At about 4 p.m. on Thursday, January 25, the board of the media conglomerate the Arena Group met after the company had blown up its license to publish Sports Illustrated.
Discussion:
@jayshams and @leomschwartz
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Chris Willman / Variety:
Chuck Philips, a Pulitzer Prize-winning Los Angeles Times journalist known for his investigative reporting on the music industry, died in January at age 71 — Chuck Philips, a Pulitzer Prize-winning investigative journalist renowned for his reporting on dark corners of the music industry, died in January at age 71.
Discussion:
@khal, The Daily Beast, @hearinladotcom, The Wrap and Media Moves
Dexter Thomas / Wired:
Q&A with TikTok CEO Shou Zi Chew on the company's music festival in Mesa, AZ, his background, TikTok and music, music labels, US scrutiny, moderation, and more — A few weeks ago, Shou Zi Chew sat down with WIRED to tell us how he's trying to make TikTok better.
Discussion:
MediaNama, Fox News, Insider Intelligence, NPR, Gizmodo, Music Ally, The Verge, Bloomberg, The Hill and The Information
Anna Nicolaou / Financial Times:
Sources: some independent record labels are pushing back on Apple's plans to pay more for spatial audio tracks, saying it benefits larger record companies — Groups behind Adele and Phoebe Bridgers among those against songs recorded in higher-quality audio receiving more money
Discussion:
AppleInsider, MIT Technology Review and 9to5Mac, more at Techmeme »
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