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12:40 PM ET, April 21, 2021


 Top News: 
Netflix reports Q1 revenue of $7.16B, up 24% YoY, and 208M paid memberships, up 14% YoY but below its forecast of 210M; stock down 10%+ after hours  —  Revenue grew 24% year over year and was in line with our beginning of quarter forecast, while operating profit and margin reached all-time highs.
Edmund Lee / New York Times:
Competitors like Disney+, HBO Max, and Amazon Prime Video have cut into Netflix's share of viewer attention, but the company is in its best financial shape ever  —  The streaming service reported the addition of four million new customers for the first quarter, below the six million it had forecast.
Ashley Carman / The Verge:
Apple unveils in-app subscriptions for Apple Podcasts; Apple will take 30% of revenue in the first year, and 15% in following years  —  For ad-free, early access, and bonus content  —  A monumental change is coming to Apple Podcasts' business: the company is launching subscriptions within the Apple Podcasts app.
Rebecca Davis / Variety:
Reporters Without Borders:
RSF's 2021 Press Freedom Index finds journalism is totally blocked or seriously impeded in 73 of 180 countries and constrained in 59 others; US ranks 44th
Todd Spangler / Variety:
Roku rebrands Quibi content as Roku Originals and says those 75+ shows will be available to watch for free on the ad-supported Roku Channel later this year  —  Roku is officially dropping the Quibi name. … The 75-plus original shows from Quibi will be available to watch for free …
Fern Siegel / The Streamable:
Byron Allen launches Local Now, a free ad-supported streamer that aggregates 300+ hyperlocal channels across 225 markets in the US  —  Local Now, the free ad-supported streamer, has kicked off on most major platforms.  Local Now aggregates and streams local news, weather, sports, traffic and entertainment in real time.
Discussion: @michellemanafy and The Wrap
Alison Flood / The Guardian:
Simon & Schuster refuses to cancel a seven-figure book deal for Mike Pence's memoir, after staff open letter accused the publisher of “legitimising bigotry”  —  Simon & Schuster president Jonathan Karp says seven-figure book deal will go ahead, after open letter …
Aubrey Allegretti / The Guardian:
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 Featured Newsletter: 
Major news publishers grow revenue with a blend of subscriptions and advertising  —  Subscription models aren't right for every publisher, but some are building robust advertising and subscription businesses alongside each other.
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 More News: 
Manuel Roig-Franzia / Washington Post:
Profile of Dan Bongino, a Trump supporter who leads lists of shared Facebook posts, has a thriving YouTube channel, and will fill Limbaugh's radio spot in May
Editor and Publisher:
Publishers of 125 US newspapers have filed or announced suits against Google and Facebook, claiming the tech giants illegally monopolized the digital ad market
Brooks Barnes / New York Times:
Searchlight Pictures senior executives Steve Gilula and Nancy Utley announce their retirement from the Disney-owned specialty studio, leaving by the end of June
 Earlier Picks: 
Connie Bruck / New Yorker:
Profile of Ari Emanuel in his quest to be a mogul, from creating Endeavor to his recent focus on investing in live events businesses
Katie Robertson / New York Times:
The Village Voice returned to print in a new issue on Saturday; Brian Calle plans a print issue about four times a year, with the end goal of publishing monthly