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8:15 AM ET, August 7, 2024

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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 …
Discussion: IndieWire, The Wrap, The Verge and Bloomberg
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
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
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Jonathan Vanian / CNBC:
Reddit reports Q2 revenue up 54% YoY to $281.2M, vs. $254M est., Daily Active Uniques up 51% YoY to 91.2M, and net loss down from $41.1M in Q2 2023 to $10.1M  —  Reddit reported second-quarter results on Tuesday that topped analysts' estimates.  —  Here are the key numbers:
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
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
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
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.
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.
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  —  The streaming platform initially came to the market with $65 CPMs in 2022  —  Netflix is further lowering the prices of its ads …
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: 
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
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
 Earlier Picks: 
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, @chrisgeidner, The Verge, PhoneArena, @lindayax, Rumble, Associated Press, @elonmusk, @catthekin, @theliamnissan, @baekdal, @fmanjoo, @catthekin@threads.net, @catthekin@threads.net, @chrispavlovski, @crumbler@threads.net, @kyliebytes, @hanse_mina@mastodon.social, @katzish@threads.net, @allahliker, The Federalist, @ngrossman81@threads.net, US District Court for the Northern District of Texas, @checkmyadshq, @karaswisher@threads.net, @firerock31@threads.net, @sherrilynifill@threads.net, @renee.diresta@threads.net, @renee.diresta@threads.net, @catthekin@threads.net, @silvermanjacob, @ranimolla, @tracybeanz, @goldman@threads.net, @barry, @joshtpm, @tracybeanz, @1elizabeth_jacobs@threads.net, The Daily Wire, @rumblevideo, @jesse_brenneman, @chrispavlovski, @stopfundinghate, @sarafischer, @katieeyton, @bobbyallyn, @bobbyallyn, The Hollywood Reporter, Digiday, 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, The Media Leader, The Drum, CNN, Greg Glenday on LinkedIn, Reuters, Deadline, HuffPost, 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
Kathryn Lundstrom / Adweek:
Uber says its Advertising annual revenue run-rate passed $1B in Q2, up from $650M+ in Q2 2023; Uber began selling in-app Journey Ads programmatically in June
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

Paresh Dave / Wired:
Google says it wouldn't force its device makers, browser, and wireless carrier licensees to distribute Gemini to US users for three years, in a proposed remedy

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
 
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