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7:30 AM ET, May 8, 2024

Mediagazer

 Top News: 
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: @benmullin
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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
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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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 …
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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
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
Reuters:
A Moscow court places veteran Russian journalist Nadezhda Kevorkova in pre-trial detention for two months on suspicion of “justifying terrorism”, per her son  —  Veteran Russian journalist Nadezhda Kevorkova was placed in pre-trial detention for two months by a Moscow court …
Discussion: Fox News
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
Karissa Bell / Engadget:
Substack announces Substack Creator Studio, a program to support 10 US-based video creators to “turn their TikTok channels into Substack shows and communities”  —  The company says its plans are unrelated to a potential TikTok ban.  —  Newsletter platform Substack is ramping …
Nellie Andreeva / Deadline:
Ricky Strauss, who has been head of marketing at Apple TV+ for 16 months, is leaving; he earlier was president of content and marketing at Disney+ at its launch  —  Ricky Strauss is leaving Apple TV+ after a 16-month stint as Head of Marketing.  —  In his role, he was involved …
Discussion: Variety, @rarebre3d, The Wrap, Puck and 9to5Mac
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.
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 More News: 
Sarah Perez / TechCrunch:
Meta announces an update to its AI ad tools, which can now make full new images, not just backgrounds, and claims to add strong guardrails to prevent abuse
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”
 Earlier Picks: 
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
Charles Pulliam-Moore / The Verge:
Tubi partners with Issa Rae's ColorCreative initiative to launch Stubios, an incubation program for up-and-coming filmmakers looking to break into the business
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
 

 
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

Sam Altman / @sama:
Sam Altman says he is embarrassed that there was a provision about potential equity cancellation in exit docs, and OpenAI never took back anyone's vested equity

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
 
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