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9:35 AM ET, April 20, 2022


 Top News: 
Emily McCormick / Yahoo Finance:
Netflix reports losing 200K net subscribers in Q1, vs. an estimated 2.5M net additions, and $7.87B revenue, vs. $7.95B est.; Netflix opens down 30%+  —  Netflix (NFLX) reported an unexpected decline in first-quarter net subscribers as the company navigated an exit from Russia and an increasingly saturated North American market.
Alex Weprin / Hollywood Reporter:
Reed Hastings says Netflix plans to offer cheaper, ad-supported plans and will examine what those plans will look like “over the next year or two”  —  Co-CEO Reed Hastings revealed the move on an earnings call after the streaming giant disclosed it lost 200,000 subscribers during its most recent quarter.
Todd Spangler / Variety:
Netflix estimates that its users are sharing passwords with 100M+ non-paying households globally, including 30M+ in the US and Canada, in violation of its rules  —  There's a whole lot of password-sharing going on across Netflix's customer base — and the streaming giant is eager to get money from the freeloading masses.
Michael Grothaus / Fast Company:
Disney stock drops ~5%, Warner Bros. Discovery drops ~4%, and Paramount drops ~5% in pre-market trading, after Netflix reported a drop in subscribers  —  Yesterday, Netflix announced it lost subscribers for the first time in 10 years.  The company reported 200,000 fewer subscribers …
Discussion: @modeledbehavior and @brianstelter
Peter Vercoe / Bloomberg:
Netflix added 1.09M subscribers in Asia Pacific, the lone bright spot, helped by the success of the South Korean series Squid Game, its biggest launch
Discussion: New York Magazine
New York Times:
The New York Times Managing Editor Joe Kahn will succeed Dean Baquet as executive editor, starting in June; Baquet “will remain to lead an exciting new venture”  —  Mr. Kahn, 57, will take over a newsroom undergoing enormous change.  — Give this article- - - Read in app
Michael M. Grynbaum / New York Times:
A profile of Joe Kahn, whose focus on China shaped his career, during which he won two Pulitzers and helped turn The New York Times into a 24-hour operation  —  Joe Kahn, the next executive editor of The New York Times, has had a steady rise in journalism.  It began with a decision to turn his focus to China.
Taylor Lorenz / Washington Post:
A look at the woman behind Libs of TikTok, a Twitter account that reposts videos along with incendiary framing and is shaping LGBTQ+ right-wing media coverage  —  A popular Twitter account has morphed into a social media phenomenon, spreading anti-LGBTQ+ sentiment and shaping public discourse
Discussion: @ndrew_lawrence, @libsoftiktok, The AP (Alex Pareene) …, @mattbinder, @alexstamos, @nycsouthpaw, @jdvance1, @oneunderscore__, @oneunderscore__, @mattbinder, @ndrew_lawrence, @mattbinder, @michaelehayden, @davidklion, @robbysoave, @justinhendrix, @alexthomp, @christinapushaw, @brandyzadrozny, @taylorlorenz, @benjysarlin, @ggreenwald, @oneunderscore__, @rvawonk, The Racket News, @literaryeric, @kendallybrown, @kattenbarge, @kriscoratti, @taylorlorenz, @ggreenwald, @steveschmidtses, @cd_hooks, @3r1ng, @conor64, @pbump, Digital Threat Digest, @mathewi, @bubbaprog, @the_moviebob, @ericowensdc, @mollyjongfast, @meredithshiner, @heminator, @oneunderscore__, @taylorlorenz, @kathryntewson, @hezbolsonaro, @beyerstein, @ggreenwald, @ndrew_lawrence, @eoinhiggins_, @andyswan, @bigblackjacobin, @agoldmund, @meredithshiner, @alexstamos, @junlper, @oneunderscore__, @kept_simple, Real News Revolt, Fox News, @steveschmidtses, @taylorlorenz, @becketadams, @ggreenwald, Mediaite, @ggreenwald, @mehdirhasan, @beyerstein, @taylorlorenz, @lackingsaint, @oneunderscore__, @beyerstein, @oneunderscore__, @beyerstein, @taylorlorenz, @oneunderscore__, @oneunderscore__, @beyerstein, @alexstamos, @ggreenwald, @_cingraham, @cjciaramella,, @steveschmidtses, @glennf, @janeost_, @dklmarxist, Carl Beijer, @ggreenwald, @maxwelltani, @pwnallthethings, @turnip_tops, @scottnover, @hasanthehun, @andrewperezdc, @thelincoln, @taylorlorenz, @brianstelter, @benshapiro, @nicdawes, @kt_so_it_goes, The Scroll, @brianstelter, @kimzetter, @libsoftiktok, @rocco_castoro, @donmoyn, @heerjeet, @alexstamos, @junlper, @lib_crusher, Rolling Stone, @alexstamos, @eoinhiggins_, @taylorlorenz, @_cingraham, Nothing but the Truth, @eigenrobot, @donmoyn, @kept_simple, @pbump, @krisgoldsmith85, @sturgeons_law, @ozraeliavi, @willchamberlain, @amber_athey, @garbageape, @ggreenwald, Bulletin, The Week, @arthur_affect, @christinapushaw, @libsoftiktok, The Federalist, Seth Tower Hurd's The Five, New York Post and The Rewired Soul
Sara Fischer / Axios:
Sources: Warner Bros. Discovery suspended external CNN+ marketing and laid off CNN CFO Brad Ferrer, replaced by Discovery's CFO for streaming and international  —  Warner Bros. Discovery has suspended all external marketing spend for CNN+ and has laid off CNN's longtime chief financial officer …
Sara Fischer / Axios:
Rolling Stone CEO Gus Wenner says 2021 was the company's most profitable year in two decades, due to a renewed investment in live events and a focus on creators  —  Rolling Stone will debut its inaugural “Creators” issue Tuesday, featuring the first in-depth profile of YouTube star MrBeast.
Adam B. Vary / Variety:
Entertainment Weekly Editor in Chief Mary Margaret is leaving and will be replaced by Executive Editor Patrick Gomez, who will take the title of general manager  —  Mary Margaret will exit her role as editor-in-chief of Entertainment Weekly, and she'll be replaced by EW executive editor Patrick Gomez …
Discussion: The Wrap
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 More News: 
Catherine Shu / TechCrunch:
Indonesia-based Noice, an audio content startup focused on podcasts, radio, audiobooks, and live audio, raises a $22M Series A led by Northstar
 Earlier Picks: 
Joshua Topolsky / @joshuatopolsky:
[Thread] Joshua Topolsky, The Outline's founder and BDG's chief content officer for culture and innovation, leaves to start the “I've Seen the Future” podcast
Charlotte Tobitt / Press Gazette:
Reuters says March was its biggest month ever for client use of its video content with 4.5M+ uses on TV across the world, beating the record of 3.6M in February
Q&A with the chief editor of Novaya Gazeta Europe, launched as a parallel operation to Russia's Novaya Gazeta, which suspended work due to Russian censorship