Top News:
CNBC:
Disney reports Q2 revenue up 1% YoY to $22.08B, vs. $22.11B est., with Disney+ and Hulu hitting a combined quarterly profit for the first time — The “Partners” statue of Walt Disney and Mickey Mouse, at Cinderella Castle at the Magic Kingdom, at Walt Disney World, in Lake Buena Vista, Florida, photographed Saturday, June 3, 2023.
Discussion:
CNN, The Verge, The Wrap, The Walt Disney Company, Business Insider, MediaPost, Reuters, @thetranscript_, The Information, Quartz, The Hollywood Reporter, Los Angeles Times, CNBC, City A.M., Next TV, Ad Age, Deadline, Fast Company, The Wrap, CBS News, @thetranscript_, WORLD SCREEN, New York Times, Financial Times and @alexweprin, more at Techmeme »
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Jennifer Maas / Variety:
Disney CEO Bob Iger says Marvel is going to reduce output and focus on quality by releasing “about two TV series a year” and a “maximum of three” films per year — Disney CEO Bob Iger says the company is shrinking the MCU with a new mission to drop the number …
Robbie Whelan / Wall Street Journal:
Disney's streaming unit reports a loss of $18M in Q2, down from a $659M loss YoY, and says it is on track to achieve streaming profitability in Q4 2024 — Entertainment giant adds streaming customers as it swings to a loss as a result of charge from India media venture
Discussion:
The Hollywood Reporter, @tvgrimreaper, Axios, Media Play News and Dylan Jones on LinkedIn
Loree Seitz / The Wrap:
Bob Iger says Disney+ will add a new ESPN tile by the end of 2024, with “select live games and studio programming” for US subscribers
Joshua Benton / Nieman Lab:
A historical look at Pulitzer winners shows the decline of local and regional newspapers and the growth in online news outlets, especially at the local level — For the first time ever, more online news sites produced Pulitzer finalists than newspapers did.
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Benjamin Mullin / New York Times:
A look at Chicago's Invisible Institute, a nonprofit newsroom with about a dozen journalists incorporated in 2015 that won two 2024 Pulitzers — The Invisible Institute, a nonprofit newsroom with roughly a dozen journalists, was recognized for local and audio reporting.
Discussion:
Poynter, @chrisahowell@threads.net, NewsLab, Poynter and Chicago Tribune
Joseph Ax / Reuters:
Lookout Santa Cruz, a digital-only local news outlet, won the breaking news reporting Pulitzer for its 2023 California floods coverage; Reuters won two prizes
Discussion:
Rich Jaroslovsky on LinkedIn, Lookout Santa Cruz, Poynter, Media Nation, Ken Doctor on LinkedIn, Talking Biz News, @merrillcollege, @jcopeland_sc, @scottbrodbeck, @kwstark, @digidave, @buxmontnews, @paldhous, The Pulitzer Prizes on YouTube, Associated Press, Los Angeles Times, Discourse Blog, Jewish Telegraphic Agency, The Hill, Nick Tattersall on LinkedIn, Newser, New York Daily News, New York Times and Poynter
Max Tani / Semafor:
Memo: Business Insider Global Editor-in-Chief Nich Carlson is stepping down and will become an editor-at-large focused on longer-term projects — The Scoop — Business Insider's global editor-in-chief is stepping down as the company begins a search for his replacement.
Deepa Seetharaman / Wall Street Journal:
OpenAI releases a tool to detect DALL-E 3-created images, claiming 98% accuracy for unaltered images, and joins Microsoft and Adobe's content credentials group — Startup's new tool detects 98% of pictures generated by its DALL-E 3 system, but success drops if the images are altered
Discussion:
Reuters, Microsoft On the Issues, Engadget, Quartz, New York Times and ZDNet, more at Techmeme »
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Sara Fischer / Axios:
Dotdash Meredith inks a deal with OpenAI to license its content to train AI models and work together on products, including Dotdash's ad-targeting tool D/Cipher
Discussion:
Engadget, Bloomberg, The Information, @sarafischer, Dotdash Meredith, Sara Fischer on LinkedIn, @sarafischer, The Wrap, Reuters and The Verge
Alex Weprin / The Hollywood Reporter:
Amazon announces three new interactive ad formats for Prime Video: shoppable carousel ads, interactive pause ads, and interactive brand trivia ads — Three new formats will let users easily include products featured in ads to their Amazon carts, with no need for QR codes.
Discussion:
The Streamable, Deadline, Variety, Next TV, Ad Age, Adweek, Amazon Ads, AdExchanger and MediaPost
Pew Research Center:
Survey: 48% of US adults prefer websites or social media for local news; 15% paid for local news in the last year; 63% believe local outlets do well financially — As news consumption habits become more digital, U.S. adults continue to see value in local outlets — Table of Contents Table of Contents
Discussion:
Nieman Lab, @dustysneakers_@threads.net, @iohn.bsky.social, Poynter and @jackshafer
Kate Knibbs / Wired:
A look at Musi, a free music streaming app popular among high schoolers that uses YouTube to source music, opening Musi up to legal action from record labels — Musi's free music streaming app is a hit with thrifty teens. The app claims to tap content on YouTube, but some in the music industry question the legitimacy of that model.
Discussion:
@knibbs, @extremeknibbs@threads.net and 9to5Mac
New York Times:
TikTok sues the US government over the law forcing a sale or ban, saying it violates users' First Amendment rights and divestiture is “simply not possible” — The social media company and its Chinese parent, ByteDance, sued to challenge the new law, saying it violated users' First Amendment rights.
Discussion:
MediaPost, @eff, Billboard, Music Business Worldwide, Mashable, WFAA-TV, The Drum, Wired, The Hill, The Information, Semafor, New York Daily News, Wall Street Journal, @morningbrew, @esqueer_, Courthouse News Service, @npr.org, @mmasnick.bsky.social, The Hollywood Reporter, @wagatwe.com, Deadline, The Wrap, Rolling Stone, Los Angeles Times and Current, more at Techmeme »
Ashley Capoot / CNBC:
Reddit Q1: revenue up 48% YoY to $243M, vs. $212.8M est., net loss of $575.1M, driven by IPO expenses, and DAUq total up 37% to 82.7M; RDDT up 15%+ after hours — Reddit CEO Steve Huffman hugs mascot Snoo as Reddit begins trading on the New York Stock Exchange (NYSE) in New York on March 21, 2024.
Discussion:
Fast Company, Reddit Upvoted, Quartz, The Information and Bloomberg, more at Techmeme »
Sarah Perez / TechCrunch:
Meta announces an update to its AI ad tools, which can now make full new images, not just backgrounds, and claims it's adding strong guardrails to prevent abuse — Meta is rolling out an expanded set of generative AI tools for advertisers, after first announcing a set of AI features last October.
Discussion:
Facebook, Ad Age, The Media Leader, Neowin, Bloomberg, VentureBeat and Search Engine Land, more at Techmeme »
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