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2:25 PM ET, March 7, 2024

Mediagazer

 Top News: 
Wall Street Journal:
Sources: Temu became Meta's top advertiser by revenue in 2023 by spending nearly $2B on ads, and became one of Google's top five advertisers by spending in 2023  —  The e-commerce platform spent nearly $2 billion at Meta and was a top advertiser at Google  —  Meta Platforms' top advertiser …
RELATED:
New York Times:
Analysis: Temu and Shein are spending heavily on Facebook, X, and YouTube ads in the US; Temu placed ~1.4M ads globally on Google services in the past year  —  Temu, Shein, and streaming and gaming apps looking to break into the U.S. market are spending huge sums to get their wares in front of American consumers.
more at Techmeme »
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Sarah Scire / Nieman Lab:
Q&A with FT Group CEO John Ridding on the benefits of being owned by Nikkei, using AI in the newsroom and for engagement, US growth, and Big Tech's AI missteps  —  The FT has more than 1.4 million subscribers, including more than 1 million digital subscribers.  About 20% are based in the United States.
Ben Markus / Colorado Public Radio:
Colorado Public Radio lays off 15, primarily in audio and podcast production, and spares the newsroom of cuts; staff grew from 48 in FY 2006 to 214 in FY 2022  —  Colorado Public Radio laid off 15 employees this week, the largest cut to the public broadcaster's payroll in at least a quarter of a century.
Brian Steinberg / Variety:
Warner Bros. Discovery plans to overhaul its TruTV cable network with a new nightly block of sports programming, including a show focused on betting  —  The media company intends to create a new nightly sports block for TruTV, the reality-series cable network that has largely been left …
Jem Aswad / Variety:
In a letter to members, the National Music Publishers Association says it doesn't expect to renew its TikTok license when the deal expires on April 30  —  The standoff between Universal Music Group and TikTok took another turn on Wednesday when the trade group National Music Publishers Association sent …
Bill Bradley / Adweek:
Disney sells out of ad inventory for the 2024 Oscars; a source says Disney was seeking $1.7M to $2.2M for 30-second ads, similar to its 2022 pricing  —  The ceremony will have a broad range of sponsors across 17 categories
Sara Fischer / Axios:
Condé Nast reports flat revenue gains YoY in 2023; in a memo, Condé Nast CEO says consumer revenue grew 7% YoY and expects operating costs to remain the same  —  - Lynch said moving to a place where the company is consistently breaking even has helped it invest in growth areas, particular in digital.
Discussion: @mediaevan
 
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 More News: 
Alex Weprin / The Hollywood Reporter:
Pro Shop, founded by a Full Swing producer and an ex-Puck CEO, raised $19.25M from the PGA Tour and others, to expand golf's presence in entertainment
Nicole Sperling / New York Times:
Netflix plans to livestream a boxing match between Mike Tyson and Jake Paul in Texas on July 20, part of the company's push into “sports-adjacent programming”
Tatiana Siegel / Variety:
Sources: Apple spent $700M+ of its reported $1B+ 2023 studio spend on just Napoleon, Killers of the Flower Moon, and Argylle, which earned $466M combined
Kasey Moore / What's on Netflix:
Netflix licenses the first season of the OnlyFans original series House of Sims, which debuted on OFTV in May 2023, in the UK
Discussion: The Sun
Meg James / Los Angeles Times:
A jury finds Rust movie armorer Hannah Gutierrez guilty of involuntary manslaughter in the 2021 accidental shooting death of cinematographer Halyna Hutchins
 Earlier Picks: 
Josh Marshall / Talking Points Memo:
News sites are closing due to the collapse of programmatic ad revenue; a case study of Talking Points Memo shows how subscriptions kept the site in business
Hayden Field / CNBC:
Patronus AI releases CopyrightCatcher and says OpenAI's GPT-4 produced copyrighted content on 44% of prompts in its test of AI models for copyright infringement
Todd Spangler / Variety:
WBD plans to shut down Rooster Teeth after failing to sell the unprofitable fandom, gaming, and comedy entertainment unit, resulting in layoffs of ~150 staff
 

 
From Techmeme:

Mark Gurman / Bloomberg:
Sources: Apple is working on a smart doorbell system with advanced facial recognition that can wirelessly connect and unlock third-party smart locks

Kyle Wiggers / TechCrunch:
Donald Trump announces that Sriram Krishnan, until recently a general partner at a16z, will serve as senior policy advisor for AI at the White House OSTP

Financial Times:
Sources: Palantir and Anduril are in talks with OpenAI, SpaceX, and more to form a consortium to bid for US defense contracts and plan to announce it in January
 
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