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6:30 PM ET, March 7, 2024

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 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 »
Reuters:
Spotify plans to raise its prices in France due to a new tax law that adds a 1.2% tax on streaming companies' revenue to help finance local music creation  —  Swedish streaming service Spotify (SPOT.N) on Thursday said it would increase its prices in France due to a new tax, which it argued would fail to accomplish its intended goal.
Charlotte Alter / TIME:
A profile of WSJ's Evan Gershkovich, with interviews with his family, friends, and US officials, as negotiations to free him from Russia have not made progress  —  Growing up in the Soviet Union in the 1960s and '70s, Mikhail Gershkovich and Ella Milman learned to be careful.
RELATED:
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
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 …
Committee to Protect Journalists:
A joint report by CPJ and Amnesty International finds that Mexico's journalist protection program fails to adequately evaluate risks faced by journalists  —  Become a Supporter  —  Contact Us  —  CPJ is a 501(c)3 non-profit.  —  Our EIN is 13-3081500.  —  Committee to Protect Journalists
Discussion: Amnesty International
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 …
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: MediaPost and @mediaevan
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
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.
 
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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
 Earlier Picks: 
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
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
 

 
From Techmeme:

Mark Gurman / Bloomberg:
Sources: Apple and OpenAI are preparing a major announcement of their partnership at WWDC; the new AirTag with a better chip is scheduled to arrive by mid-2025

Wall Street Journal:
Sources: US officials have told Google, Meta, and others about concerns that undersea cables could be vulnerable to tampering by China-owned repair ships

Emma Agyemang / Financial Times:
Around 58 countries now offer a digital nomad visa, as governments compete with each other to attract talent; the number of US digital nomads hit 17.3M in 2023
 
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