Mediagazer: TelevisaUnivision reports Q1 revenue up 7% YoY to $1.1B, adjusted OIBDA fell 9% YoY to $328.5M, and expects its DTC business to be profitable in H2 2024 (Georg Szalai/The Hollywood Reporter)

7:46 AM ET, April 25, 2024

Top News:

Meta reports Q1 revenue up 27% YoY to $36.46B, net income up 117% YoY to $12.37B, and family daily active people up 7% YoY to 3.24B for March 2024 — Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended March 31, 2024.

Discussion: Music Ally, Andy Barr on LinkedIn, @edludlow, The Verge, Fast Company, New York Times, Financial Times, Reuters, Wall Street Journal, Variety and The Hollywood Reporter, more at Techmeme »

Ashley Capoot / CNBC:

Meta's stock dropped 15%+ after hours on weak Q2 revenue guidance and higher FY 2024 capital expenditures due to increased AI infrastructure investments — Mark Zuckerberg, CEO of Meta, testifies during the Senate Judiciary Committee hearing titled “Big Tech and the Online Child Sexual Exploitation Crisis …

Discussion: CNN, Total Telecom, City A.M., The Information, Roderick Mann on LinkedIn, The Wrap, Fortune and Bloomberg, more at Techmeme »

Manish Singh / TechCrunch:

Indian streaming service JioCinema launches an ad-free subscription plan with the lowest tier costing $0.35/month for a single device, undercutting rivals — JioCinema, the popular Indian on-demand video-streaming service, introduced a new monthly subscription plan on Wednesday, with the lowest tier costing just 35 cents.

Discussion: Reuters, The Indian Express, The Media Leader, Bloomberg and Variety

Murray Stassen / Music Business Worldwide:

Warner Music Group sells Uproxx, HipHopDX, and other assets to a new company, Uproxx Studios, formed by Jarret Myer, Rich Antoniello, and will.i.am — In February, Robert Kyncl - CEO of Warner Music Group - confirmed that WMG was in active discussions to sell its ‘owned and operated’ media properties UPROXX and HipHopDX.

Discussion: UPROXX Studios, Billboard, Maria Weaver on LinkedIn, Forbes, Digital Music News and The Hollywood Reporter

Georg Szalai / The Hollywood Reporter:

TelevisaUnivision reports Q1 revenue up 7% YoY to $1.1B, adjusted OIBDA fell 9% YoY to $328.5M, and expects its DTC business to be profitable in H2 2024 — The Spanish-language media giant, led by Wade Davis, sees 2024 as “a historic year for us,” saying that “we expect that to drive commensurate political ad revenue.”

Discussion: Variety and TelevisaUnivision

Georg Szalai / The Hollywood Reporter:

Comcast reports Q1 Peacock revenue rose 54% YoY to $1.1B, a $639M loss, down from $704M in Q1 2023, and paying subscribers up 55% YoY to 34M — NBCUniversal parent Comcast, led by chairman and CEO Brian Roberts, reported its first-quarter earnings. … The streamer ended March …

Discussion: Reuters, IndieWire, The Wrap, CNBC, Deadline and Comcast

Lauren Feiner / The Verge:

President Biden signs the ByteDance-TikTok divest-or-ban bill into law, after the Senate passed it by 79-18; the House passed the legislation 360-58 on April 20 — The divest-or-ban bill is now law, starting the clock for ByteDance to make its move. The company has an initial nine months …

Discussion: CNBC, Silicon UK, Music Ally, @tiktokpolicy, Associated Press, Politico, ABC7, Digital Music News, Zack Stern on LinkedIn, @lanceulanoff, @rlheinrichs, @kyurieff, @aripap, @michaelsobolik, @nathanleamerdc, @michaelsobolik, @maxwinebach, @adamkovac, @themaxburns, @michaelsobolik, @repdancrenshaw, @alexgrayforok, @djvlad, @jeromysonne, @aghamilton29, @blackleftaf, @kellymakena, @alyssafarah, @steventdennis, @ldrogen, @tiktokpolicy, @mtracey, @viacristiano, @jameeljaffer, @cinemasai_, @munster_gene, Morten Rand-Hendriksen on LinkedIn, @potus, @tomwarren, @danprimack, Tubefilter, Music Business Worldwide, @ddimolfetta, @carnage4life, @mkraju, @brendancarrfcc, @yashar, @alexbarinka, @deedydas, @viacristiano, @therecount, @drjessmaddox, @deanbaker13, @hankgreen, Neowin, GB News, Android Authority, India Today, GSMArena.com, The Independent, Android Headlines, Mothership.SG, Axios, Total Telecom, KnowTechie, London Evening Standard, Semafor, Politico, Kiplinger.com, Android Police, Dexerto, Infosecurity, Semafor, XDA Developers, PetaPixel, Forbes, DJ Mag, Tom's Guide, Comic Book, Android Authority, PCMag, Newsweek, Business Insider, Social Media Today, PR Daily, Florida Politics, Far Out Magazine, Bloomberg, Australia & World, Mastodon, Silicon UK, @alexheath@threads.net, @jw@threads.net, @ezeekat@threads.net, Benzinga, One Man & His Blog, Variety, 9to5Mac, Rolling Stone, AppleInsider, Engadget, Bloomberg, The Daily Beast, The Information, Wired, NBC News, TechCrunch, Washington Post, The White House, Wall Street Journal, Fast Company, @mattontech@mastodon.sdf.org, Music Ally, The Guardian, The Guardian, Wall Street Journal, BGR, New York Times, ComingSoon.net, CNN, The Indian Express, Reuters, @NeoNacho@mastodon.social, The Daily Beast, Neowin, Wired, The Register, Engadget, The Wrap, Sydney Morning Herald, Mumbrella, Ad Age, Gizmodo, MediaPost, Billboard, South China Morning Post, The Verge, Platformer, New York Daily News, The Hill, r/popculturechat, r/politics and Beehaw, more at Techmeme »

Will Oremus / Washington Post:
Meta, Google, Snap, and Amazon all benefit from the US TikTok ban; Mark Zuckerberg criticized TikTok's Chinese roots in 2019, part of Meta's broader campaign

Discussion: Ad Age, Bloomberg, Fast Company and @willoremus@mastodon.social, more at Techmeme »

M.G. Siegler / Spyglass:
Whether TikTok is banned or not, this is the end as we know it for the loss-making app, which may lose focus due to advertiser, creator, and staff uncertainty

Discussion: New York Times, NBC News, Gizmodo, Ad Age, Wired and CNBC, more at Techmeme »

Samantha Schmidt / Washington Post:

Press freedom advocates fear Peru's government is taking aim at the independent news media via a criminal investigation into veteran reporter Gustavo Gorriti — Few journalists have exposed government wrongdoing in Latin America quite like Gustavo Gorriti.

Discussion: @cpjamericas, @willgfreeman and Committee to Protect …

Sam Roberts / New York Times:

Alfonso Chardy, whose methodical reporting led The Miami Herald to a Pulitzer Prize for exposing the Iran-contra scandal in 1986, died on April 9 at age 72 — A Miami Herald correspondent, he powered a team that won a Pulitzer Prize for investigative reporting and helped snare three other Pulitzers for the paper.

Discussion: @francesrobles

Charlotte Tobitt / Press Gazette:

A look at US investigative outlet The Lever, which has 19 staffers after launching in 2022 with two staff, 112K subscribers, and paying subscribers up 16.5% YoY — The Lever's “bread and butter” reporting is “how corporate power is making everything worse for the rest of us”.

Discussion: @davidsirota and @davidsirota@mastodon.online

Alex Weprin / The Hollywood Reporter:

Proxy filing for TKO Group Holdings: Endeavor's Ari Emanuel received a pay package of nearly $65M in 2023, the year that Endeavor merged UFC and WWE — TKO, the owner of the WWE and UFC, disclosed its executive pay packages in its proxy filing. — Endeavor's $21 billion deal to merge …

Discussion: The Wrap, Variety and Deadline

Scharon Harding / Ars Technica:

Reddit says its Dynamic Product Ads, which use “shopping signals” to automatically show relevant ads to users, are entering public beta globally — Reddit says its “communities are naturally commercial.” — Reddit has made it clear that it's an ad-first business.

Discussion: @drrjv@vmst.io, @dangillmor@mastodon.social, @arstechnica@mastodon.social and Social Media Today, more at Techmeme »

Robbie Farias / Austin American-Statesman:

A photojournalist for TV station Fox 7 Austin was arrested after an altercation with state troopers at a pro-Palestinian protest at the University of Texas — A photojournalist with FOX 7 Austin was arrested during a pro-Palestinian protest at the University of Texas at Austin on Wednesday.

New York Times:

Sources detail NPR's struggles with declining audiences, falling sponsorship revenue, internal conflicts over turning things around, and a diversity push — NPR employees tuned in for a pivotal meeting late last year for a long-awaited update on the future of the public radio network.

Discussion: Fox News, @ri.woche@threads.net, @_eileenie_@threads.net, @yonetteajoseph@threads.net, @michaelmagras@mstdn.social, @benmullin, @benmullin, @davidfolkenflik and @benmullin

Alexandra Bruell / Wall Street Journal:
An interview with NPR CEO Katherine Maher, who defends NPR and accuses critics of “bad faith distortion” of her past comments about the First Amendment

Discussion: Fox News, @edbmarsh, @jonathanturley, Inside Radio and The Hill

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