Top News:
Michael M. Grynbaum / New York Times:
Oliver Darcy leaves CNN to launch Status, a newsletter akin to Puck, for $15/month or $150/year; CNN says the Reliable Sources newsletter is on summer hiatus — Oliver Darcy is starting a subscription-based news site dedicated to covering the media industry, joining a crowded field.
Discussion:
Status, Variety, @oliverdarcy@threads.net, New York Post, Breitbart, Talking Biz News, @digiphile@threads.net, The Hollywood Reporter, @passantino@threads.net, The Wrap, @digiphile@threads.net, @bethanyshondark, @keitholbermann, Mediaite, @maxwelltani, @donie, Deadline, @donie, Associated Press and Barrett Media
Lara O'Reilly / Business Insider:
Email: the World Federation of Advertisers discontinues activities of its nonprofit, GARM, following X's antitrust lawsuit, but intends to contest X's claims — - The World Federation of Advertisers is ‘discontinuing’ the activities of the Global Alliance for Responsible Media.
Discussion:
The Guardian, MediaPost, Engadget, Quartz, @daveleebbg@threads.net, @catthekin@threads.net, @catthekin@threads.net, @renee.diresta@threads.net, Arielle Garcia on LinkedIn, @crumbler@threads.net, Ruben Schreurs on LinkedIn, @lauren@mastodon …, @chronotope.aramzs.xyz, Lara O'Reilly on LinkedIn, @larakiara, Fox Business and Inside Radio, more at Techmeme »
Marianna Spring / BBC:
A look at the people behind Channel3Now, a crime news aggregator whose story wrongly blaming an asylum seeker for the Southport attack played a role in UK riots — What connects a dad living in Lahore in Pakistan, an amateur hockey player from Nova Scotia - and a man named Kevin from Houston, Texas?
Financial Times:
Sources: Google and Meta ran a pilot program in the US in May 2024 to target Instagram ads to teenagers on YouTube, which prohibits targeting ads to under-18s — Campaign on YouTube to boost Instagram's appeal to young people skirted search group's rules for marketing to under-18s
Kayla Cobb / The Wrap:
WBD CFO Gunnar Wiedenfels says NBA talks were a “triggering event” to reevaluate the company and take a $9.1B impairment charge, but were not the only factor — However, CFO Gunnar Wiedenfels notes the reevaluation wasn't “a response to one individual factor”
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Jill Goldsmith / Deadline:
WBD reports Q2 revenue down 6% YoY to $9.7B, a $9.99B net loss, and takes a $9.1B impairment charge for networks; global streaming subs rose 3.6M to reach 103M
Discussion:
CNBC, StreamTV Insider, The Wrap, Next TV, Variety, The Media Leader, Quartz, @michellef_davis, @firmreturns, @billbrewstertbb, WORLD SCREEN, @sherman4949, @sherman4949, @sherman4949, @annaknicolaou, @heetermaria, Yahoo Finance, Advanced Television, CNBC, Sportico, Awful Announcing, Financial Times, Game Developer, Bloomberg, Los Angeles Times, The Streamable, The Hollywood Reporter, Warner Bros. Discoverey, IndieWire and Variety
Andrew Marchand / New York Times:
Sens. Elizabeth Warren and Bernie Sanders and Rep. Joaquin Castro write to the DOJ asking to investigate Venu Sports and “oppose it if violates antitrust law” — Sens. Elizabeth Warren and Bernie Sanders and Rep. Joaquin Castro have sent a letter to the Department of Justice asking …
Arvind Dilawar / Drop Site News:
A freelance journalist claims the NYT failed to correct a story he co-wrote on antisemitism in Teaneck, NJ, after he found a source gave incorrect information — An elected official alleged an antisemitic break-in. Police say it didn't happen. — As a freelance journalist …
Discussion:
@derekjohnbryant, @malsaafin, @nkulw, @jbenmenachem, @jeremyscahill and @ryangrim
New York Times:
Analysis: Truth Social is increasingly reliant on niche ad campaigns that target hard-core Trump fans and Christian conservatives, often with small ad budgets — Donald J. Trump's social network is increasingly relying on a niche of the ad market that caters to hard-core Trump fans and Christian conservatives for revenue.
Kayla Cobb / The Wrap:
Sony's anime streaming service Crunchyroll announces it has surpassed 15M monthly paid subscribers, up from 11M in July 2023 — The news comes after Sony reported a 10% increase in operating profit during its first fiscal quarter of 2024 — Crunchyroll, the Sony-backed streaming service dedicated …
Discussion:
Crunchyroll, Carter Hahnselle on LinkedIn, Next TV, TVNewsCheck, CNBC and The Streamable
Caitlin Huston / The Hollywood Reporter:
iHeartMedia reports Q2 consolidated revenue of $929M, up 1% YoY, an operating loss of $910M, up from $897M in Q2 2023, and podcast revenue up 8% YoY to $104.5M — The company also saw a wider net loss this quarter compared to last year. — Podcast revenue at iHeartMedia rose 8 percent …
Discussion:
Inside Radio, iHeartMedia …, Radio & Television … and Barrett Media
Emma Roth / The Verge:
TikTok launches TikTok Spotlight, in-app hubs for movies and TV shows that add links to “applicable” videos with more info and where to watch, tested with Dune — TikTok will now create in-app hubs for movies and TV shows and place them directly on fan-made videos.
Discussion:
TechCrunch, Ad Age, TikTok, Digital Music News, Deadline, Variety, The Media Leader and The Hollywood Reporter, more at Techmeme »
Jennifer Maas / Variety:
Nexstar reports Q2 net revenue up 2.3% YoY to $1.3B, net income up 41.3% YoY to $106M, ad sales up 2.2% YoY to $522M, CW quarterly losses down $33M from Q2 2023 — Nexstar reported its second-quarter 2024 earnings Thursday, revealing that the CW Network has narrowed its losses by $33 million.
Discussion:
The Wrap, The Desk, Deadline, Nexstar Media Group, Inc. and Next TV
Thomas Hunter / Press Gazette:
Perplexity donates $250K to Northwestern's Medill School of Journalism to support research into AI and news after news outlets accused Perplexity of plagiarism — Northwestern University's Medill School of Journalism will receive $250,000. — AI search chatbot Perplexity …
Discussion:
@sarahnemerson, @aravsrinivas, @aravsrinivas and Beyond Search
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