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9:05 AM ET, April 22, 2020


 Top News: 
Lauren Feiner / CNBC:
Netflix reports Q1 revenue of $5.77B, up 27.6% YoY, vs $5.76B est., global paid net subscriber additions of 15.77M, now totaling 182.86M accounts, up 22.8% YoY  —  - Netflix reported its Q1 2020 earnings after the bell on Tuesday.  — Netflix has ranked among analysts' favorite …
Georg Szalai / Hollywood Reporter:
Netflix CEO Reed Hastings' compensation reached $38.6M in 2019, up about 7% YoY, and chief content officer Ted Sarandos received a package worth $34.7M, up 17%  —  Hastings' pay day increased by 7 percent, with his right-hand man making 17 percent more.  —  Netflix CEO Reed Hastings …
Discussion: The Wrap and Broadcasting & Cable
Todd Spangler / Variety:
AT&T misses estimates, loses 138K AT&T Now customers and 897K premium TV subscribers in Q1, reports revenues of $42.78B and pulls its annual forecast  —  AT&T missed revenue and earnings estimates for the first quarter of 2020, with a 4.6% top-line decline driven by lower revenue …
Hollywood Reporter:
HBO Max to launch on May 27 for $15 per month with 10,000 hours of programming
Wall Street Journal:
Internal planning document for Vice Media Group lays out the possibility of layoffs of 300+ in digital operations, including cuts at Vice News and Refinery29  —  Planning document calls for over 300 layoffs, though company says several such proposals are being worked up
Jim VandeHei / Axios:
Axios says it qualified for a PPP loan “just shy of $5M” as it is both a media company and a small business with a national presence  —  Axios is among the small businesses that qualified for a PPP loan to protect existing jobs and help weather the coronavirus crisis.
Discussion: CNBC and @brianstelter
[Thread] Internal memos: Politico lays off 13 at Protocol as it cancels live events through at least Sept. 1, including its presence at political conventions  —  Didn't want to break this media news earlier because of my major conflict of interest. But I'm really sad to see another round of harsh cuts at a media company (and a new one at that!). 13 people, incl editors + reporters, lost their jobs at Protocol today
Mandy Jenkins / The Compass Experiment:
The Compass Experiment, McClatchy and Google's digital local news initiative, plans to launch the Longmont Leader in Colorado in May with a team of five  —  We're launching The Longmont Leader to provide critical news and information during this time of crisis — and beyond.
Alexandra Steigrad / New York Post:
Filing: NBCUniversal sold about half of its stake, worth ~$178M, in Peloton; Peloton shares are up more than 50% since mid-March because of the pandemic  —  NBCUniversal has sold a $178 million stake in stationary-bike company Peloton, whose shares have lately been surging because of the coronavirus crisis.
Lucas Shaw / Bloomberg:
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 More News: 
Charlotte Tobitt / Press Gazette:
Jewish News to continue publishing after the collapse of the merger with the Jewish Chronicle, which was acquired by a consortium and will go into liquidation
Discussion: The Times of Israel
Snap Inc.:
Snap reports in Q1 DAUs increased 20% YoY to 229M, revenue increased 44% YoY to $462M, time spent watching Discover content rose 35%+; stock up 19%+ after hours
Georgia to let movie theaters reopen April 27, but hiring staff, safety protocols, a lack of new releases, and limits on crowd sizes pose significant challenges
 Earlier Picks: 
Marc Tracy / New York Times:
NPR cuts CEO pay 25% and reduces other executives' salaries between 10% and 15%, but CEO says there are no layoffs planned at the moment
Seb Joseph / Digiday:
YouTube says it's working on letting advertisers use keyword or contextual targeting to decide what posts their ads will appear on before running them
Chris Welch / The Verge:
Sonos launches Sonos Radio, a free streaming radio service preloaded in the Sonos app, with 60K+ stations from multiple partners alongside original programming
Brian Steinberg / Variety:
Michael Jordan docuseries “The Last Dance” debuts to an average 6.1M viewers across ESPN and ESPN 2, the most-viewed original content on the network since 2004
Sarah Perez / TechCrunch:
NBCUniversal's movie ticketing company Fandango has agreed to buy Walmart's on-demand video streaming service Vudu for an undisclosed sum