Top News:
Ashley Carman / Bloomberg:
Spotify reports Q2 revenue up 20% YoY to €3.8B, MAUs up 14% YoY to 626M, subscribers up 12% YoY to 246M, above est., and €266M operating income; SPOT jumps 12%+ — Spotify Technology SA shares surged to their highest in more than three years on Tuesday after the Swedish audio …
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Simon Owens's Media Newsletter, Spotify, The Information, Chris Walton on LinkedIn, @alexweprin, Neowin, Quartz, Axios, Wall Street Journal, Investor's Business Daily, @carnage4life@threads.net, The Hollywood Reporter, Proactive, @thetranscript_, The Verge, @eldsjal, @sarafischer, Music Ally, MarketWatch, Tech Xplore, Billboard, Benzinga, Fast Company, @natetharp@threads.net, Deadline, Music Business Worldwide, Variety and Reuters, more at Techmeme »
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Chris Welch / The Verge:
Daniel Ek says Spotify is working on a deluxe Spotify tier, around a $17-$18 price point, that has “a lot more control, a lot higher quality across the board” — The saga of Spotify HiFi has many twists and turns. First announced over three years ago, the music service's higher …
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TechCrunch, Music Business Worldwide, The Media Leader, Digital Trends, 9to5Mac, Billboard and RAIN News, more at Techmeme »
Alex Weprin / The Hollywood Reporter:
YouTube Q2 ad revenue grew 13% YoY to $8.66B, vs. $8.93B est.; Google's subscriptions, platforms, and devices unit that includes YouTube TV had revenue of $9.3B — The Google-owned video platform still saw its ad haul rise by 13 percent compared to last year.
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The Desk, Reuters, MediaPost, The Information, CNBC, The Wrap, Next TV, Variety, Deadline, Wall Street Journal, Alphabet Inc., 9to5Google and TVNewsCheck, more at Techmeme »
Robbie Whelan / Wall Street Journal:
Former Marvel chairman Ike Perlmutter, who backed Nelson Peltz in a failed proxy fight for two Disney board seats, sells his stake of nearly 26M Disney shares — Isaac “Ike” Perlmutter, the former Marvel Entertainment executive, who for the last decade and a half has been one of Disney's …
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Variety, New York Post, Gizmodo, The Hollywood Reporter and Deadline
Georg Szalai / The Hollywood Reporter:
Comcast reports Peacock Q2 revenue up 28% YoY to $1B, and a $348M loss, down from $651M in Q2 2023; paying subs were up 38% YoY to 33M but down from 33.5M in Q1 — Comcast and its entertainment unit NBCUniversal report second-quarter results, including the “best year-over-year improvement” …
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Variety, Comcast Corporation, Next TV, The Desk, The Desk, The Streamable, @alexweprin, Cord Cutters News, The Information, The Wrap, Variety, Barron's Online, CNBC and MarketWatch, more at Techmeme »
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The Information:
Internal messages: Meta staff complained about Threads' algorithm limiting political posts, after the For You page was slow to show news of Biden dropping out — Shortly after Joe Biden dropped out of the presidential election Sunday, an employee at Meta Platforms posted in the company's internal forum …
Natasha Lomas / TechCrunch:
Though the UK's ICO says it's “disappointed” with Google's not deprecating third-party cookies, the regulator has only weakly enforced data protection laws — In a material development that will likely have a big impact on online business models, Google is no longer proposing …
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Digiday:
Google says it won't be “deprecating third-party cookies” in Chrome and will instead keep working on “privacy-preserving alternatives” via Privacy Sandbox APIs
Google says it won't be “deprecating third-party cookies” in Chrome and will instead keep working on “privacy-preserving alternatives” via Privacy Sandbox APIs
Discussion:
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Max Goldbart / Deadline:
BBC plans to lay off 500 more staff by March 2026 and reports a £263M operating deficit in 2023/24, up from £193M in 2022/23, projected to be £492M in 2024/25 — The BBC will lay off 500 more staff by March 2026 as its annual report paints a worrying financial picture including …
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Naman Ramachandran / Variety:
BBC reports BBC Commercial revenue of £1.9B in 2023/24, down from £2.1B in 2022/23, and 3.8M BritBox International subscribers, with a 25% annual growth rate
BBC reports BBC Commercial revenue of £1.9B in 2023/24, down from £2.1B in 2022/23, and 3.8M BritBox International subscribers, with a 25% annual growth rate
Discussion:
Broadband TV News, Broadcast, BBC, Advanced Television, The Hollywood Reporter, The Hollywood Reporter and WORLD SCREEN
Charlotte Tobitt / Press Gazette:
Huw Edwards tops the list of BBC's highest paid journalists for 2023/24 despite being off-air since July 2023; 46 BBC journalists earned above £178K
Huw Edwards tops the list of BBC's highest paid journalists for 2023/24 despite being off-air since July 2023; 46 BBC journalists earned above £178K
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Judd Legum / Popular Information:
A look at Sinclair's Rapid Response Team, which produces biased short articles; affiliates must include at least three RRT stories nightly — Eugene Ramirez, the lead anchor of Sinclair's national evening news broadcast, resigned in January over concerns about the accuracy and right-wing bias …
Discussion:
@eugeneramirez, @michaelsocolow, @KimPerales@toad.social, @davinasass@threads.net, @agt00soul, @sueblueswilson, @kiminsley11@threads.net, @jayrosen_nyu, @kali_fissure, @FAIR@mastodon.world, @drvolts, @shamrockchickens@threads.net, @emmettoconnell@mas.to, @davidfolkenflik, @juddlegum, The Daily Beast, @kbode@threads.net, @thetnholler and @realjuddlegum@threads.net
Mike Scarcella / Reuters:
A US judge rules that Nina Jankowicz, a former Biden anti-disinformation official, could not back up her defamation claims against Fox News and parent Fox Corp — Fox News Media and its parent Fox Corp (FOXA.O) won a ruling on Monday dismissing a lawsuit by a former Biden administration official …
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ABC News, New York Post, Deadline, The Hill, Mediaite, NPR and Los Angeles Times
Georg Szalai / The Hollywood Reporter:
TelevisaUnivision reports Q2 revenue up 3% YoY to $1.3B, ad revenue up 6% YoY to $785M, and operating expenses up 6% YoY to $896M — The Spanish-language media giant, led by CEO Wade Davis, reports its second-quarter financials. … The company also reemphasized that its streaming business …
Discussion:
New York Times, The Information, Variety, WORLD SCREEN, TelevisaUnivision, Next TV and TVNewsCheck
Todd Spangler / Variety:
Amazon begins rolling out a new UI for Prime Video to help distinguish content included with Prime, update its navigation bar, manage subscriptions, and more — And the new UI specifically addresses something that's annoyed Prime Video users for years: Now, according to Amazon …
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Andrew Deck / Nieman Lab:
An interview with WaPo CTO Vineet Khosla on its Climate Answers chatbot, and how it's been built with “adversarial testing”, newsroom feedback, and fine-tuning — “For Google, that might be failure mode...but for us, that is success,” says the Post's Vineet Khosla
Discussion:
Deborah Carver on LinkedIn, Craig McCosker on LinkedIn, @washpostpr and @phoebedoris