Top News:
Sarah Whitten / CNBC:
Netflix reports Q3 revenue up 15% YoY to $9.83B, vs. $9.76B est., paid memberships up 14% to 282.72M, vs. 282.15M est., and net income of $2.4B; NFLX jumps 7%+ — LOS ANGELES — Netflix posted third-quarter earnings Thursday that beat on the top and bottom lines as its advertising business continued to grow.
Discussion:
Netflix, Los Angeles Times, The Hollywood Reporter, Barron's Online, The Hollywood Reporter, @lucas_shaw, @carnage4life@mas.to, Sarah Whitten on LinkedIn, AdExchanger, Thurrott, Adweek, Light Reading, Neowin, StreamTV Insider, Deadline, The Streamable, Variety, Quartz, Forbes, Benzinga, The Verge, Wall Street Journal, Yahoo Lifestyle, Deadline, New York Times and Business Insider, more at Techmeme »
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Reuters:
Netflix gained 5.1M new subscribers in Q3, vs. 4M est., and says more than 50% of signups were for its ad-supported tier in countries where it was available — Netflix (NFLX.O) picked up 5.1 million streaming subscribers in the third quarter, topping Wall Street estimates by more than 1 million …
Discussion:
Adweek, Quartz, Business Insider, Associated Press, Barron's Online, Euronews, Observer, Forbes, The Media Leader, @reutersbiz, Bloomberg, Capital Brief, The Times, Entrepreneur, RTÉ, The Wrap, The Desk, IndieWire, Reuters, TVNewsCheck, Deadline and Advanced Television, more at Techmeme »
Todd Spangler / Variety:
Netflix forecasts 2025 revenue of $43B-$44B, which would be 11%-13% higher than its 2024 guidance, and targets a 2025 operating margin of 28% vs. 27% in 2024 — Netflix is expecting to keep growing revenue at double-digit percentages in 2025. — In reporting Q3 2024 results that beat analyst forecasts …
Sahil Patel / The Information:
LinkedIn woos publishers, testing a “News Banner” on its mobile app feed and a video ad program that sources say will earn Bloomberg and WSJ $2M+ each in 2024 — As Facebook owner Meta Platforms has backed away from news, Microsoft's LinkedIn has leaned into it.
Kirsten Eddy / Pew Research Center:
Pew: 37% of Republicans and 38% of Democrats trust information from social media; 40% of Republicans and 78% of Democrats trust national news organizations — Republicans are now nearly as likely to trust the information that comes from social media sites as they are to trust information …
Mark Stenberg / Adweek:
Bloomberg launches a Weekend Edition to reduce churn; CPO Julia Beizer says the publisher has 740K subscribers, of which about 40% are from outside the US — The new editorial product will focus on the intersection of finance and culture, boosting weekend readership
Discussion:
Bloomberg and Talking Biz News
Marah Eakin / Wired:
Inside the inaugural Culver Cup, a generative AI film competition sponsored by AWS and FBRC.ai giving filmmakers AI tools and three weeks to submit a short — Amazon is hosting AI filmmaking competitions. Meta is letting directors test Movie Gen. As tech companies develop new tools …
Jason Koebler / 404 Media:
Hobbyists post the code for Redbox kiosk software online, and tinkerers have been probing how it works, sometimes repurposing abandoned machines to run Doom — The code that runs Redbox DVD rental machines has been dumped online, and, in the wake of the company's bankruptcy …
Discussion:
Gizmodo, @rysiek@mstdn.social, Ars Technica, @georgescriban@threads.net and @jasonkoebler@threads.net
Bron Maher / Press Gazette:
Jon Steinberg, CEO of UK magazine publisher Future, announces plans to step down in 2025 after a 12-month notice period; Steinberg joined in April 2023 — Steinberg was in the role for approximately a year and a half. — Shares in magazine publisher Future plc dropped more than 10% …
Discussion:
London Stock Exchange, The Times and The Media Leader
Hanaa' Tameez / Nieman Lab:
A year after its launch, The Guardian's European edition generates 15% of the company's pageviews, and one-time donations from European readers increased by 45% — After the launch of Guardian Europe, one-time donations from European readers increased by 45%.
Discussion:
American Press Institute
Sara Fischer / Axios:
Memo: Google will block US election ads after the polls close on November 5 to prevent misinfo about voting, including candidates prematurely claiming victory — - Google is implementing the policy “out of an abundance of caution and to limit the potential for confusion …
Mark K. Miller / TVNewsCheck:
Tegna and Dallas Mavericks announce that six Tegna TV stations will join eight stations owned by others to air games to ~14M people in Texas, starting Oct. 26 — Eight stations join the six owned by Tegna to create one of the largest sports franchise footprints assembled by a local broadcast group.
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