Top News:
Lauren Feiner / The Verge:
President Biden signs the ByteDance-TikTok divest-or-ban bill into law, after the Senate passed it by 79-18; the House passed the legislation 360-58 on April 20 — The divest-or-ban bill is now law, starting the clock for ByteDance to make its move. The company has an initial nine months …
Discussion:
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Foo Yun Chee / Reuters:
TikTok is suspending the rewards program in TikTok Lite while it tries to resolve EU concerns about the potentially addictive nature of the program for children
TikTok is suspending the rewards program in TikTok Lite while it tries to resolve EU concerns about the potentially addictive nature of the program for children
Will Oremus / Washington Post:
Meta, Google, Snap, and Amazon all benefit from the US TikTok ban; Mark Zuckerberg criticized TikTok's Chinese roots in 2019, part of Meta's broader campaign
Meta, Google, Snap, and Amazon all benefit from the US TikTok ban; Mark Zuckerberg criticized TikTok's Chinese roots in 2019, part of Meta's broader campaign
Discussion:
Fast Company, @willoremus@mastodon.social and Ad Age, more at Techmeme »
M.G. Siegler / Spyglass:
Whether TikTok is banned or not, this is the end as we know it for the loss-making app, which may lose focus due to advertiser, creator, and staff uncertainty
Whether TikTok is banned or not, this is the end as we know it for the loss-making app, which may lose focus due to advertiser, creator, and staff uncertainty
Discussion:
The Cool Down, Wired and CNBC, more at Techmeme »
Alex Barinka / Bloomberg:
Biden signing the TikTok divestment bill starts a 270-day countdown for a sale or a US prohibition; sources say ByteDance sees divestiture as a last resort
Biden signing the TikTok divestment bill starts a 270-day countdown for a sale or a US prohibition; sources say ByteDance sees divestiture as a last resort
Discussion:
Digiday, New York Times, NBC News, KnowTechie, Lou Paskalis on LinkedIn, Jeremiah Lee on LinkedIn, Axios, Paste, Fast Company, Digital Music News, Gizmodo, Politico, GB News, Fox News, @pelstrom, Polygon, Forbes, The Hollywood Reporter, @tchambers@indieweb.social, Peter Elstrom on LinkedIn, AppleInsider, The Indian Express, CBS News, Wall Street Journal, TechCrunch, Variety, Billboard and Platformer, more at Techmeme »
Manish Singh / TechCrunch:
Indian streaming service JioCinema launches an ad-free subscription plan with the lowest tier costing $0.35/month for a single device, undercutting rivals — JioCinema, the popular Indian on-demand video streaming service, introduced a new monthly subscription plan on Thursday, with the lowest tier costing just 35 cents.
Discussion:
Reuters, Variety, Bloomberg and The Indian Express
Meta Investor Relations:
Meta reports Q1 revenue up 27% YoY to $36.46B, net income up 117% YoY to $12.37B, and family daily active people up 7% YoY to 3.24B for March 2024 — Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended March 31, 2024.
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Ashley Capoot / CNBC:
Meta's stock drops 15%+ after hours on weak Q2 revenue guidance and higher FY 2024 capital expenditures due to increased AI infrastructure investments — Mark Zuckerberg, CEO of Meta, testifies during the Senate Judiciary Committee hearing titled “Big Tech and the Online Child Sexual Exploitation Crisis …
Discussion:
Adweek, City A.M., The Information, The Wrap, Fortune and Roderick Mann on LinkedIn, more at Techmeme »
Murray Stassen / Music Business Worldwide:
Warner Music Group sells Uproxx, HipHopDX, and other assets to a new company, Uproxx Studios, formed by Jarret Myer, Rich Antoniello, and will.i.am — In February, Robert Kyncl - CEO of Warner Music Group - confirmed that WMG was in active discussions to sell its ‘owned and operated’ media properties UPROXX and HipHopDX.
Discussion:
UPROXX Studios, Billboard, Maria Weaver on LinkedIn, Forbes, Digital Music News and The Hollywood Reporter
New York Times:
Sources detail NPR's struggles with declining audiences, falling sponsorship revenue, internal conflicts over turning things around, and a diversity push — NPR employees tuned in for a pivotal meeting late last year for a long-awaited update on the future of the public radio network.
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Alex Weprin / The Hollywood Reporter:
Proxy filing for TKO Group Holdings: Endeavor's Ari Emanuel received a pay package of nearly $65M in 2023, the year that Endeavor merged UFC and WWE — TKO, the owner of the WWE and UFC, disclosed its executive pay packages in its proxy filing. — Endeavor's $21 billion deal to merge …
Scharon Harding / Ars Technica:
Reddit announces that its Dynamic Product Ads, which use “shopping signals” to automatically show relevant ads to users, are entering public beta globally — Reddit says its “communities are naturally commercial.” — Reddit has made it clear that it's an ad-first business.
Robbie Farias / Austin American-Statesman:
A photojournalist for TV station Fox 7 Austin was arrested after an altercation with state troopers at a pro-Palestinian protest at the University of Texas — A photojournalist with FOX 7 Austin was arrested during a pro-Palestinian protest at the University of Texas at Austin on Wednesday.
Discussion:
Dallas Morning News, @hardlynormal, @ashantiblaize, @ashantiblaize, @ashantiblaize, @saddamscribe, @meredithonfox7, @joshuajfriedman.com, @jfrickuga, Austin American-Statesman, KXAN-TV, @1amorey, @tiffanyclay.dev, @hemamullur, @nycsouthpaw@threads.net, @pamelacolloff, @beagle.bsky.social, FOX 7 Austin, @assalrad, @tplohetski, @walkeratx and ABC7
Will Sommer / Washington Post:
The founder of The Gateway Pundit says its parent company is filing for Chapter 11 bankruptcy, as it faces lawsuits claiming it promoted bogus election claims — Gateway Pundit, the popular far-right blog, is filing for bankruptcy as it faces lawsuits alleging it promoted bogus claims …
Discussion:
The Guardian, The Gateway Pundit, NPR, @checkmyads@threads.net, CNN, @yonetteajoseph@threads.net, @asfleischman, HuffPost and Mediaite
Winston Cho / The Hollywood Reporter:
The FTC bans noncompete clauses that restrict job switching, potentially complicating hiring in Hollywood as firms try to protect trade secrets and other info — The FTC on Tuesday voted to prohibit noncompete provisions in contracts, which could usher in a sea change to worker mobility …
Discussion:
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Tom Jones / Poynter:
How the Columbia Daily Spectator, the independent student newspaper of Columbia University, is covering the tense protests over the Israel-Hamas war — The Columbia Daily Spectator has expertly documented tense protests over the Israel-Hamas war inside and outside the campus.