Top News:
Lucas Shaw / Bloomberg:
Sources: Warner Bros. Discovery plans more cost-cutting to hit financial targets for next year, including raising Max prices and the possibility of more layoffs — - Job cuts are possible as executives look for more savings — CEO eyes streaming operations' marketing, technology costs
Discussion:
Engadget, The Hill, The Desk, Awful Announcing, The Streamable, Reuters, Next TV, Lucas Shaw on LinkedIn, 9to5Google and @lucas_shaw
Maggie Harrison Dupré / Futurism:
An investigation into AdVon, the company behind Sports Illustrated's fake writers, finds its AI content and fake authors at the LA Times, Miami Herald, and more — A few years back, a writer in a developing country started doing contract work for a company called AdVon Commerce …
Discussion:
Jacob Hurwith on LinkedIn, @newsguild, @bcmerchant, @mattdpearce, @noellemitchell@mstdn.social, Sean Blanda on LinkedIn, @ai6yr@m.ai6yr.org, @willyblackmore, @shwinyo, @natematias@social.coop, @jtlg@mastodon.lawprofs.org, @jvagle@mastodon.lawprofs.org, @mags_h11, @mags_h11, @taylorlorenz, @mags_h11, @knibbs, @mattzollerseitz, @nxthompson, @caleweissman, @weareyourfek, @pkafka and @taylorlorenz@mastodon.social, more at Techmeme »
Benjamin Mullin / New York Times:
The NYT added 210,000 digital subscribers in Q1, for 10.5M subscribers in total, up 8% YoY, and ad revenue fell 2.4% YoY to $103.7M; the OpenAI lawsuit cost $1M — Adjusted operating profit was $76.1 million, an increase of about 41 percent from a year earlier.
Discussion:
Engadget, @benmullin, The Wrap and Charles Miller on LinkedIn
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The New York Times Company:
The NYT reports Q1 revenue up 6% YoY to $594M, subscription revenue up 13% YoY to $293M, operating profit up 73% YoY to $48.3M, Athletic revenue up 33% to $37M — NEW YORK, May 8, 2024 - The New York Times Company (NYSE: NYT) announced today first-quarter 2024 results. Key Highlights
Discussion:
Rory Maloney on LinkedIn
Aisha Malik / TechCrunch:
The New York Times Games rolls out a Wordle archive with 1,000+ past puzzles for “Games” and “All Access” subscribers, and adds its WordleBot to NYT Games app — The New York Times Games announced on Tuesday that it's launching a Wordle archive …
Discussion:
The New York Times Company, Fast Company, Gizmodo and The Verge
Kathryn Lundstrom / Adweek:
Disney Advertising strikes a deal with Walmart Connect to let advertisers target Disney's streamers, including Disney+ and Hulu, using Walmart's shopper data — The new retailer-CTV partnership promises detailed sales attribution data — Disney Advertising struck a deal with Walmart Connect …
Discussion:
The Desk, MediaPost, Julia Thornton on LinkedIn, Dana McGraw on LinkedIn and AdExchanger
Georg Szalai / The Hollywood Reporter:
EchoStar reports losing ~348K net pay TV subscribers in Q1, vs. a 552K drop in Q1 2023, and revenue down 8% YoY to $2.7B; Sling TV subscribers fell 135K to 1.9M — Telecom mogul Charlie Ergen's EchoStar is led by Hamid Akhavan as president and CEO, with Ergen serving as executive chairman.
Discussion:
The Streamable, Deadline and Streaming Better
Nik Roseveare / Advanced Television:
Sky announces Sky Sports+, a new service starting in August that will increase coverage of the English Football League and more, as part of its EFL partnership — Sky has announced it will launch Sky Sports+ this August, a service it says will be “transformational in the amount of choice sports fans …
Discussion:
Daily Mail, The Athletic, The Guardian and WORLD SCREEN
Sara Fischer / Axios:
Source: last month, Sundial Media bought Refinery29 for ~$30M, or roughly its 2023 revenue; Refinery29 buys trade beauty show Beautycon to move away from ads — - The company bought Refinery29 for roughly the same amount that the publisher made in top-line revenue in 2023, which was $30 million, a source told Axios.
Discussion:
Wall Street Journal
Todd Spangler / Variety:
NBCUniversal signs deal to make iHeartMedia the exclusive audio partner for the 2024 Paris Olympics; iHeartMedia will create an original iHeartPodcast — Pact includes new podcast from ‘Las Culturistas’ hosts Bowen Yang and Matt Rogers — NBCUniversal inked a deal with iHeartMedia making …
Discussion:
Radio & Television …, Inside Radio, Jeff Hurley on LinkedIn, Barrett Media, @xpangler and Next TV
Alex Weprin / The Hollywood Reporter:
Fox Corp reports Q3 revenue down 15% YoY to $3.4B, ad revenue down 33% YoY to $1.2B, a $704M net income, up from a $50M loss YoY, $1.9B affiliate fee revenue — The owner of Fox, Fox News and Fox Sports hosted the Super Bowl a year ago, leading to the advertising decline.
Discussion:
@brianstelter, @jbflint, Fox, @jbflint, Variety, @jbflint, The Wrap, @jbflint and WORLD SCREEN
Austin Fuller / Current:
NPR CEO Katherine Maher will not attend a US House committee hearing on May 8 looking at alleged NPR bias due to a schedule conflict, but offers to appear later — NPR CEO Katherine Maher will not attend a U.S. House committee hearing Wednesday aimed at looking into alleged ideological bias at the organization.
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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