Top News:
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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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Informa agrees to buy Ascential, the owner of the Cannes Lions and Money20/20 conferences, for ~£1.2B in cash, or £5.68/share, a 53% premium on Monday's close — Informa Plc has agreed to buy Ascential Plc, the owner of the Money20/20 and Cannes Lions conferences …
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Reuters, PRWeek, MediaPost, MediaPost, Press Gazette, City A.M., Financial Times and Reuters
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Daniel Ek says Spotify is working on a deluxe Spotify tier, costing around $17 to $18, 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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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 …
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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, Gizmodo, Deadline, New York Post, The Hollywood Reporter and Reuters
Reuters:
A Moscow court finds Russian journalist Mikhail Zygar guilty in absentia of distributing false information about the Russian army and sentences him to 8.5 years — A court in Moscow said on Tuesday it had found Russian journalist Mikhail Zygar guilty in absentia of knowingly distributing false information …
Discussion:
@rvps2001@mastodon.social, International Center … and Committee to Protect …
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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 …
Discussion:
Street Fight, Beet.TV, @LukaszOlejnik@mastodon.social, Digital Trends, Digiday, Security, Privacy & …, AdExchanger, Bloomberg, Privacy Sandbox, Criteo, Neowin, @Privacymatters@mastodon …, MarTech, RTÉ, Gizmodo, Press Gazette, Inside Radio, Electronic Frontier Foundation, The Register, The Verge, Reuters, Axios, W Media Research, The Drum, The Media Leader, Adweek and MediaPost
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France's Arcom regulator will not renew the TNT frequencies of Canal+ Group's controversial channel C8, which was fined €7.6M for lack of political plurality — Controversial French free-to-air channel C8, a subsidiary of Vivendi's Canal Plus Group, is set to lose its TNT frequency …
Discussion:
Variety, Financial Times, Reporters Without Borders and GB News
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A Prime Video India-commissioned report finds that India is attracting ~$6B per year in local content investments, or $4 per head vs. $370 per head in the US — Indian streaming series such as Netflix's “Heeramandi,” Prime Video's “Mirzapur” or Disney+ Hotstar's “Bad Cop,” could soon be more influential than Bollywood.
Discussion:
@lucas_shaw, Bloomberg and Deadline
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Some of News Corp's most experienced journalists in Australia, including Sue Dunlevy, have been made redundant, as the outlet cuts its national reporting team — Murdoch's Australian arm has quietly slashed tens of millions of dollars in costs to counter a slow advertising market and loss of revenue from Meta deal
Discussion:
@mark_melbin@mastodon.online
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Journalists at Nine newspapers Sydney Morning Herald and the Age plan to strike during Olympics if their demands, including a higher pay rise, aren't met — Reporters will walk off job from Friday - affecting Paris Games coverage - unless union demands are met during Wednesday afternoon meeting
Discussion:
Sydney Morning Herald and Australian Financial Review
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BBC reports UK households paying the £169.50 licence fee fell by 500K to 23.9M in 2023/2024; 69% of Britons under 16 consume any BBC content in an average week — Corporation faces stark challenge as it struggles to reach younger audiences who are watching Netflix and YouTube
Discussion:
Alex Blundell Jones on LinkedIn, The Sun, Financial Times, The Business Times and GB News
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Comcast President Mike Cavanagh says NBCUniversal expects an 11-year rights deal with the NBA, starting with the 2025-26 season, will be announced “soon” — In the first on-the-record comments by a media partner in the NBA's pending $76 billion rights bonanza …
Discussion:
Variety, TVNewsCheck, Reuters, The Hollywood Reporter, Sportico, Next TV and The Wrap
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