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3:10 PM ET, April 20, 2022

Mediagazer

 Top News: 
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.
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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 stock drops 35%+  —  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.
Gerry Smith / Bloomberg:
Many talk shows are struggling to adapt to streaming, as such shows depend on current events and streamers want programming that appeals to users globally  —  Streaming services have already proved that they can produce Oscar-winning movies, Emmy-worthy dramatic series and high-profile live sports.
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.
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  —  South Korean dystopian hit ‘Squid Game’ has helped make Asia a lone bright spot for Netflix Inc., which added more than 1 million subscribers …
Discussion: New York Magazine
Alex Weprin / Hollywood Reporter:
Netflix earnings show that Disney, Paramount, and other companies that reorganized around streaming video have to grapple with consistent subscriber churn
Alex Pareene / The AP (Alex Pareene) Newsletter:
The reporters explaining that Taylor Lorenz's door knocking is common journalistic practice fail to grasp that the new right is opposed to any newsgathering  —  They want someone to knock on your door, too.  Not to put you in the newspaper, though.  —  On Tuesday, Washington Post reporter …
Michael M. Grynbaum / New York Times:
Joe Kahn announces his NYT leadership team; Marc Lacey and Carolyn Ryan will be managing editors starting June 14  —  A pair of veteran Times journalists will serve in the newsroom's No. 2 position under the new executive editor, Joe Kahn.  — Give this article- - - Read in app
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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
Makena Kelly / The Verge:
Six ex-staffers of Arsenal Media, co-founded by Benny Johnson to make GOP clients' content go viral, describe bullying, toxic HR practices, and late payments  —  In the breathless world of conservative online politics, Arsenal Media is here to help you go viral.
Betsy Klein / CNN:
WHCA says Joe Biden will attend the White House Correspondents' Dinner on April 30, the first time a sitting president has attended since 2016  —  President Joe Biden and first lady Jill Biden will attend the White House Correspondents' Dinner on April 30, the White House Correspondents' Association announced Wednesday.
Matt Tamanini / The Streamable:
TiVo study finds 28% of US viewers resubscribed to pay TV after cutting the cord; 29% say it is because it is the best way to watch sports and major live events  —  Cutting the cord can be complicated.  That's why we here at The Streamable try to make it as simple as possible for you.
Discussion: @sherman4949
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
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.
 
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 More News: 
Dan Gallagher / Wall Street Journal:
FactSet survey of Q1 ad revenue: Google is expected to rise 23% YoY to $55.1B, Meta is expected to rise 8% YoY to ~$27.5B, and Twitter to grow 25% YoY to $1.1B
The Coast:
Overstory Media, which operates newsletter-based outlets in Canada, acquires The Coast, a free alt-weekly newspaper in Halifax
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
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