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9:35 AM ET, August 7, 2024

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 Top News: 
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 …
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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.
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 …
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: @tvgrimreaper
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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
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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
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  —  Broadcaster also says it has passed the 100 million monthly page views mark based on internal figures.
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.
Discussion: IAC and MediaPost
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.
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.
Winston Cho / The Hollywood Reporter:
Division in Hollywood's approach to AI is growing, as some studios want to use AI tools more often in production, while unions aim to establish guardrails  —  While unions aim to establish guardrails and artists are going to court, studios are looking to use AI tools more often in production.
Discussion: TVNewsCheck
 
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 More News: 
Catherine Perloff / Adweek:
Some ad buyers say Netflix is now charging CPMs between $20 and $30, after originally seeking $65 in 2022 and a reported $39 to $45 in 2023
Joe Lucia / Awful Announcing:
Fubo's CEO blasts Venu, the Disney/Fox/WBD sports JV, saying it gives them control of 80% of the premium market and curbs competition, as he seeks an injunction
Jake Offenhartz / Associated Press:
The NYPD arrests independent videographer Sam Seligson on felony hate crime charges after he documented a pro-Palestinian protest in June
Justine Fisher / CNBC:
Starting October 17, Disney will raise the cost of most plans for Disney+, Hulu, and ESPN+ by $1 to $2 more per month, as it pushes customers to bundles
 Earlier Picks: 
Reuters:
ByteDance debuts AI text-to-video app Jimeng AI on iOS in China, after its July 31 Android release; China's Kuaishou released Kling AI in beta globally in July
Next TV:
Future plans to end Broadcasting & Cable, Multichannel News, and NextTV in print and as newsletters, replacing them with one newsletter and revamping NextTV.com
Katie Robertson / New York Times:
Internal memo: Axios CEO Jim VandeHei says the company is laying off about 50 employees, or ~10% of the company, due to “changes in the media business”
Sara Fischer / Axios:
X sues the World Federation of Advertisers, GARM, Mars, Unilever and others over what Linda Yaccarino calls an illegal boycott; Rumble also sues WFA and others
Discussion: @elonmusk, @lindayax, NPR, @jaredlholt, The Verge, @chrisgeidner, @lindayax, PhoneArena, Rumble, @elonmusk, @catthekin, @theliamnissan, @baekdal, @fmanjoo, @catthekin@threads.net, @catthekin@threads.net, @chrispavlovski, @kyliebytes, @hanse_mina@mastodon.social, @allahliker, The Federalist, @ngrossman81@threads.net, US District Court for the Northern District of Texas, @checkmyadshq, @karaswisher@threads.net, @firerock31@threads.net, @renee.diresta@threads.net, @renee.diresta@threads.net, @catthekin@threads.net, @silvermanjacob, @ranimolla, @tracybeanz, @barry, @joshtpm, @tracybeanz, @1elizabeth_jacobs@threads.net, The Daily Wire, @sherrilynifill@threads.net, Associated Press, @crumbler@threads.net, @katzish@threads.net, @goldman@threads.net, @rumblevideo, @jesse_brenneman, @chrispavlovski, @stopfundinghate, @sarafischer, @katieeyton, Digiday, @bobbyallyn, @bobbyallyn, The Hollywood Reporter, Awful Announcing, AV Club, Adweek, The Verge, @digiphile@threads.net, @lorakolodny@threads.net, @mac_ryan_@threads.net, @kateaconger@threads.net, New Republic, PRWeek, Fast Company, @dankennedy_nu@threads.net, Wired, Ars Technica, @rstephens@threads.net, HuffPost, The Media Leader, The Drum, CNN, Greg Glenday on LinkedIn, Deadline, Reuters, Wall Street Journal, @elizspiers@threads.net, New York Post, Variety, MediaPost, Quartz, Engadget, Ruben Schreurs on LinkedIn, Financial Times, Bloomberg, New York Times, The Information, TechCrunch, Fox Business, Barrett Media and Ad Age, more at Techmeme »
Sara Fischer / Axios:
ProRata, which aims to attribute and share AI chatbot subscription revenue with content owners, raised a $25M Series A and inks deals with major media companies
Charlie Nash / Mediaite:
Jennifer Jacobs, the Bloomberg News reporter fired for allegedly breaking Russian prisoner swap story embargo, suggests she didn't decide to publish prematurely
 

 
From Techmeme:

Wall Street Journal:
Gina Raimondo says holding back China in the chips race is a “fool's errand”, and investment, more than export controls, will keep US ahead of Beijing

Timothy B. Lee / Ars Technica:
Exploring the scaling challenges of transformer-based LLMs in efficiently processing large amounts of text, as well as potential solutions, such as RAG systems

Reuters:
Albania bans TikTok for a year from January 2025, part of a broader plan to make schools safer following the killing of a 14-year-old near a school in November
 
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