Top News:
Georg Szalai / The Hollywood Reporter:
WBD reports a $86M profit in Q1 for its DTC unit, which includes streaming, up from $50M in Q1 2023, and 99.6M streaming subscribers, up from 97.7M in Q4 2023 — The entertainment conglomerate led by CEO David Zaslav reported its first-quarter results.
Discussion:
Streaming Better, Media Play News, The Streamable and IndieWire
RELATED:
Jennifer Maas / Variety:
WBD reports Q1 revenue down 7% YoY to $9.96B, and a $966M net loss, down 10% YoY, as TV revenue fell 8% YoY to $5.13B and studio revenue fell 13% YoY to $2.82B
WBD reports Q1 revenue down 7% YoY to $9.96B, and a $966M net loss, down 10% YoY, as TV revenue fell 8% YoY to $5.13B and studio revenue fell 13% YoY to $2.82B
Discussion:
MediaPost, Sportico, Deadline, CNBC, The Information, The Wrap, Advanced Television, WORLD SCREEN, Reuters and CityNews Toronto
Rick Edmonds / Poynter:
Gannett fires an experienced editor overseeing 26 community newspapers for “sharing proprietary information” with a “competing media company”, which was Poynter — Sarah Leach spoke to Poynter in an attempt to staff up her team. She may have been successful, even if she won't be at Gannett to see it through.
Sara Fischer / Axios:
Vice Media plans to create a joint venture with Savage Ventures, which will invest “tens of millions of dollars”, to relaunch its sites, including Vice.com — - Savage Ventures was one of the entities that looked to buy Vice out of bankruptcy last year.
CNBC:
Sources: Sinclair is looking to sell 60+ of its 185 TV stations, in markets including Minneapolis and Austin, and is exploring options for the Tennis Channel — Signage stands outside the Sinclair Broadcast Group Inc. headquarters in Cockeysville, Maryland, U.S., on Friday, Aug. 10, 2018.
Discussion:
The Desk
New York Times:
A look at Israel's long-strained history with Al Jazeera, which Israel calls a security threat, while Al Jazeera says Israel wants to hide its brutality in Gaza — The network will keep covering the war in Gaza, but it will be harder for Israelis to watch.
Discussion:
Jerusalem Post, BBC, @omunderdal and Jewish Telegraphic Agency
Tyler Falk / Current:
At a House hearing on “NPR bias”, Republicans criticize NPR CEO's absence but some praise local stations, and witnesses call for decentralizing or defunding NPR — House Republicans criticized NPR CEO Katherine Maher Wednesday for not attending a hearing about alleged bias within the network …
Discussion:
USA Today, Free Press, @elaheizadi, Inside Radio, @brandyzadrozny@threads.net and Fox News
Mark Stenberg / Adweek:
OpenAI's pitch deck to news publishers promises priority placement to partners in chat conversations and payment contingent on “display success” — OpenAI's Preferred Publisher Program offers media companies licensing deals — The generative artificial intelligence firm OpenAI …
Beth Mellor / Bloomberg:
After Concord said its $1.25 per share offer for Hipgnosis was final, Hipgnosis is set to be sold Blackstone at $1.30 per share, valuing the fund at ~$1.57B — That was topped last week by a $1.30 per share bid from Blackstone, valuing the business at about $1.57 billion.
Discussion:
Financial Times, Digital Journal, City A.M., Music Business Worldwide, Digital Music News, Reuters, Billboard and Wall Street Journal
New York Times:
Sources: if Sony and Apollo acquire Paramount Global, they plan to sell off CBS, cable channels like MTV, and Paramount+, while keeping Paramount Pictures — CBS and other well-known properties would be sold if Sony and Apollo are able to buy Paramount. But the new owners would keep the movie studio.
Discussion:
The Streamable, Deadline, @serwer, @brianstelter, @benmullin, Quartz, @danprimack, @benmullin, Media Play News, The Desk, Reuters, @ernie.tedium.co and Axios
Aisha Counts / Bloomberg:
Reddit releases a new content policy, including a ban on AI data licensees from using deleted posts or comments; Reddit expects $60M+ in 2024 licensing revenue — - Social media company restricts data use by AI companies — Reddit expects to generate $60 million from licensing in 2024
Discussion:
TechCrunch, Reddit Upvoted and Reuters, more at Techmeme »
Dade Hayes / Deadline:
Disney and WBD announce a streaming bundle of Disney+, Hulu, and Max, with ad-supported and ad-free plans, beginning this summer in the US, with pricing to come — Disney and Warner Bros. Discovery are breaking ground in streaming with a bundled offering featuring Disney+, Hulu and Max in a single package.
Discussion:
AdExchanger, The Streamable, The Ankler, Business Insider, The Hollywood Reporter, Variety, UPROXX, Kurt Kyle on LinkedIn, Tony Sokolowski on LinkedIn, Howard Lee on LinkedIn, Streaming Better, The Wrap, How-To Geek, Chris Marine on LinkedIn, 9to5Mac, IGN, Dennis R. Chimelis, Jr on LinkedIn, @rakeshlobster, Başak Ayter on LinkedIn, @samhaft, Decider, @sherman4949, @sherman4949, @sherman4949, Fox Business, @rfaughnder, Neowin, Engadget, MediaPost, Scott Bishoff on LinkedIn, Tara Sigaroudi on LinkedIn, Gene Miller on LinkedIn, Advanced Television, The A.V. Club, SlashFilm, The Desk, New York Times, TVLine, Emily Chau Dea on LinkedIn, IndieWire, Next TV, @thekenyeung@threads.net, Reuters, BGR, @jw@threads.net, Wall Street Journal, Awful Announcing, TV Insider, @counternotions@mastodon …, @trustedsystem.bsky.social, CNBC, Adweek, Reuters, Los Angeles Times, The Walt Disney Company, Media Play News, Screen Rant, The Verge, Consequence, Bloomberg, WORLD SCREEN and Cord Cutters News, more at Techmeme »
Daniel Thomas / Financial Times:
Ofcom report: UK broadcasters predict a “tipping point” when broadcast TV will become economically unviable as distribution costs rise and audiences move online — Media watchdog warned of ‘tipping point’ for model's economic viability — British broadcasters have warned …
Discussion:
Telegraph and Advanced Television
Financial Times:
TikTok plans to start automatically labeling some AI content, including from DALL-E and Adobe's Firefly, and joins the Adobe-led content credentials coalition — Social media companies under pressure to identify deepfakes and prevent spread of misinformation
Discussion:
Associated Press, Android Headlines, 9to5Mac, ABC News, ZDNet, Reuters and Engadget, more at Techmeme »