Top News:
Meta Investor Relations:
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:
Forbes, @munster_gene, @lexnfx, @munster_gene, @mikeisaac, @eric_seufert, @rihardjarc, @lexnfx, @netcapgirl, @ericjhonsa, @thetranscript_, @stockmarketnerd, @sal19, @conorsen, @eric_seufert, @richlightshed, @mikeisaac, @tidefallcapital, @munster_gene, @munster_gene, @mikeisaac, @munster_gene, @mikeisaac, @swiftstories, @thetranscript_, @kelseyhightower, @supbagholder, @eric_seufert, @eric_seufert, @beth_kindig, Music Ally, Adweek, @edludlow, Andy Barr on LinkedIn, The Verge, Fast Company, New York Times, Financial Times, Reuters, Wall Street Journal, Variety and The Hollywood Reporter, more at Techmeme »
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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
Discussion:
Wall Street Journal, CNN, @selfmademastery, @rihardjarc, @mikeisaac, @northmantrader, @ericjhonsa, @carnage4life, @edludlow, @mayhem4markets, @edludlow, @munster_gene, @munster_gene, 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, @refsrc, 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
Aidan Ryan / The Boston Globe:
Memo: Boston public radio station WBUR CEO Margaret Low says 31 employees, or ~14% of its staff, are leaving, with 24 of them taking a voluntary buyout — Thirty-one employees at WBUR, roughly 14 percent of the station's staff, are leaving the company through layoffs and buyouts …
Discussion:
@aidanfitzryan, @milesperhoward, @samanthajgross, WBUR and Current
Jesse Whittock / Deadline:
Wondery UK hires ex-head of studios for Spotify UK and Ireland as its head of podcasts, and launches its paid, ad-free subscription service Wondery+ in the UK — Podcast giant Wondery has hired Spotify's Chris Baughen, as it launches the paid-for Wondery+ service in the UK.
Discussion:
Variety
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, TelevisaUnivision and Deadline
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 …
Eli Stokols / Politico:
Interviews with 24 people reveal the tense relationship between President Biden and the New York Times, beset by misunderstandings, grudges, and a lack of trust — Biden's people think they're “entitled.” The Times says “they're not being realistic.” — When news broke one Saturday night …
Discussion:
@keitholbermann, @markjacob16, @jojofromjerz, @tbonier, @markjacob16, @meidastouch, @ericschultz, @admcrlsn and @johnjharwood
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
The Information:
Sources: ByteDance is exploring scenarios for selling a majority stake in TikTok US, preferably to non-tech companies, and without the recommendation algorithm — ByteDance is internally exploring scenarios for selling a majority stake in TikTok's U.S. business, preferably to companies outside …
Discussion:
Bloomberg, @xdaily, New York Post, Metro.co.uk, Social Media Today, CNN, CBS News and Digital Journal, more at Techmeme »
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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
Discussion:
ComingSoon.net, Vox, Wired, CNBC, Silicon UK, @tiktokpolicy, Music Ally, New York Times, Politico, ABC7, Digital Music News, @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, Zack Stern on LinkedIn, @potus, @tomwarren, @danprimack, Morten Rand-Hendriksen on LinkedIn, NBC News, Tubefilter, @ddimolfetta, @carnage4life, @mkraju, @brendancarrfcc, @yashar, @alexbarinka, @deedydas, @viacristiano, @therecount, @drjessmaddox, @deanbaker13, @hankgreen, Music Business Worldwide, Neowin, Gizmodo, 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, Wall Street Journal, Fast Company, @mattontech@mastodon.sdf.org, Washington Post, The White House, Music Ally, New York Times, The Guardian, The Guardian, Wall Street Journal, BGR, ComingSoon.net, CNN, The Indian Express, CNBC, Reuters, @NeoNacho@mastodon.social, The Daily Beast, Neowin, Wired, The Register, Engadget, The Wrap, Spyglass, South China Morning Post, Washington Post, The Verge, Platformer, r/popculturechat, r/politics and Beehaw, more at Techmeme »
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
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.
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.
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