Top News:
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
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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:
The Wrap and @benmullin
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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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 …
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.
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
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
Hanaa' Tameez / Nieman Lab:
Internews survey of 25 exiled news outlets: all but two are financially dependent on philanthropic or institutional funding, 28% are fully funded by donors — On World Press Freedom Day last week, the International Consortium of Investigative Reporters said in a statement that …
Discussion:
@internews, @niemanlab and Internews
Natalie Korach / The Wrap:
Dotdash Meredith unionized workers ratify contracts with management after negotiating since 2021; the deal covers ~160 staffers at People and other magazines — The three-year deal covers approximately 160 staffers at People, Entertainment Weekly and Martha Stewart Living
Discussion:
@meredithunion and @nyguild
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:
Business Insider, @knibbs, @extremeknibbs@threads.net and 9to5Mac
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
Kyle Wiggers / TechCrunch:
OpenAI is developing a Media Manager tool, slated for release by 2025, to let content owners identify their works to OpenAI and control how they are used — OpenAI says it's developing a tool to let creators better control how their content is used in AI. — Called Media Manager …
Discussion:
Android Headlines, The Information, Ars Technica, Social Media Today, Neowin, Wired and VentureBeat
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