Top News:
Emma Roth / The Verge:
Disney CEO Bob Iger says the company's password sharing crackdown will kick off “in earnest” in September, after announcing paid sharing in February 2024 — Disney Plus will soon no longer let you share your password with people outside your household.
Discussion:
Digital Trends, @billbrasky2620, 9to5Mac, Deadline and @2xaught7.bsky.social, more at Techmeme »
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Todd Spangler / Variety:
Disney reports Q3 revenue up 4% YoY to $23.2B, operating income up 19% YoY to $4.2B, DTC revenue up 15% YoY to $6.4B, and a $47M DTC profit as Disney+ grows — Company warns weak theme park demand could extend into the ‘next few quarters’ … That said, there were some mixed emotions …
Discussion:
The Hollywood Reporter, Business Wire, Reuters, Quartz, @pkafka, @sherman4949, @sherman4949, TVNewsCheck, Los Angeles Times and Deadline, more at Techmeme »
Lillian Rizzo / CNBC:
Disney reports Disney+ Core subscribers up 1% YoY to 118.3M and its combined streaming business turned a profit, a first, but without ESPN+ reported a $19M loss — WATCH NOW — Disney reported its fiscal third-quarter earnings Wednesday, topping analyst estimates as its combined streaming …
Todd Spangler / Variety:
Disney says the “outcome of the Hulu deal arbitration is uncertain” and it might have to pay up to $5B more to complete the buyout of NBCUniversal's 33% stake — Dispute over fair value of Hulu entered arbitration in May 2024, according to Disney
Discussion:
The Wrap, The Information, @tvgrimreaper and Deadline
Katie Robertson / New York Times:
The NYT reports adding 300K digital subscribers in Q2, for 10.8M in total, and digital ad revenue up 7.8% YoY to $79.6M; The Athletic losses fell to $2.4M — The publisher added about 300,000 digital subscribers in the latest quarter, and now has more than 10.8 million subscribers.
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The New York Times Company:
The NYT reports Q2 revenue up 5.8% YoY to $625.1M, subscription revenue up 7.3% YoY to $439.3M, and operating profit up 13.6% YoY to $104.7M — NEW YORK, August 7, 2024 - The New York Times Company (NYSE: NYT) announced today second- quarter 2024 results. Key Highlights
Discussion:
Nieman Lab and @tvgrimreaper
Lauren Forristal / TechCrunch:
Reddit says it plans to test AI-powered search result pages later in 2024, using a combination of first-party and third-party tech to power the feature — Reddit users will soon see AI-generated summaries at the top of search results. — Reddit co-founder and CEO Steve Huffman told investors during …
Discussion:
9to5Mac, PhoneArena, @karissabe@threads.net and Engadget, more at Techmeme »
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Alex Weprin / The Hollywood Reporter:
CNN launches CNN Originals, a FAST channel dedicated to its original programming, initially on Amazon Freevee, Prime Video, Fire TV services, and Plex — Shows like Anthony Bourdain's ‘Parts Unknown’ and ‘Chasing Life with Dr. Sanjay Gupta’ will be among the shows featured on the free streaming channel.
Discussion:
TVLine, The Wrap, Advanced Television and CNN
Charlotte Tobitt / Press Gazette:
GB News says it now has 10,000 paying members, after soft launching its membership scheme with £5, £10, or £20 per month tiers in November 2023 — More than 10,000 people have signed up as paying members of GB News, according to the broadcaster.
Jesse Whittock / Deadline:
Sony Pictures reports Q1 revenue down 7% YoY to $2.2B and operating income down 36% YoY to $73M, despite strong movie debuts and streaming subscriber growth — Sony Pictures Entertainment posted first quarter operating income of $73M, down over 36% year-on-year on a U.S. dollar basis.
Discussion:
The Wrap, CNBC, Bloomberg and Wall Street Journal, more at Techmeme »
Wall Street Journal:
Sources: the NBA's deal with Amazon has several provisions that WBD can't match, including promotion of the NBA during Amazon's NFL streaming telecasts — League's media deal with tech giant included provisions Warner couldn't match, setting stage for legal fight
Discussion:
TVNewsCheck, Sports Media Watch and USA Today
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Brian Steinberg / Variety:
Charles Barkley, a mainstay of TNT's Inside the NBA, reverses plans to retire and says he will keep working with WBD, which is fighting to keep NBA media rights
Discussion:
Pressroom, Fox News, New York Times, Brian Steinberg on LinkedIn, Los Angeles Times, Awful Announcing, USA Today, New York Times, Sportico, CNN, Deadline, Associated Press, Awful Announcing, TVLine, Front Office Sports, New York Post, The Wrap, CNBC, Barrett Media, New York Daily News and The Hollywood Reporter
Juby Babu / Reuters:
IAC reports Q2 revenue down 15% YoY to $949.5M and profit up 24% YoY to $87.3M; Dotdash Meredith reports revenue up 3% YoY to $425.2M and ad revenue up 16% YoY — IAC (IAC.O) posted a 24% rise in its core profit in the second quarter, banking on advertising and licensing revenues of Dotdash Meredith, its biggest business.
Ryan Browne / CNBC:
Sony says the company has no plans to submit a revised offer for Paramount Global as the deal “does not fit well with our strategy” — Sony's finance chief on Wednesday said the Japanese technology and media giant will not reconsider a fresh bid for film and TV production group Paramount Global.
Discussion:
The Wrap, Variety and The Hollywood Reporter
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