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2:40 PM ET, June 23, 2022


 Top News: 
Alex Sherman / CNBC:
Semafor will be ad-supported for “six, 12, maybe 18 months” before adding a paywall and will hire talent agents to pair journalists with products and events  —  - Media executives are hopeful they've learned lessons and streamlined their businesses to weather a potential recession.
Discussion: @taylorlorenz
New York Times:
Justin Smith and Ben Smith's Semafor raised $25M from Jessica Lessin, crypto billionaire Sam Bankman-Fried, and others; debut is planned for fall with ~30 staff  —  The news start-up Semafor has raised $25 million from wealthy individuals, with a goal of cultivating direct relationships between its journalists and its audience.
Netflix lays off roughly 300 people of its 11,000 global staffers, with the bulk of the jobs lost in the US, following initial job cuts of 150 in May  —  Layoffs have hit Netflix again, with the streamer letting go of roughly 300 staffers on Thursday, Variety has learned exclusively.
Peter Kafka / Vox:
Traditional media companies, especially TV, as well as streamers, face a serious threat from TikTok, and seem to be doing little so far to counter or respond  —  Facebook knows it has a TikTok problem.  TV and streamers do, too.  —  The people who bring you video entertainment …
The documentary subpoenaed by the January 6 Committee has been acquired by Warner Bros. Discovery and will air on Discovery+ this summer  —  UPDATE: Discovery+ released a trailer for the documentary Unprecedented, featuring footage of Donald Trump and his family, as its filmmaker Alex Holder …
Rolling Stone:
Filmmaker Alex Holder, who followed the Trump family for a documentary over the last six weeks of his 2020 campaign, gave the footage to the January 6 committee
New York Times:
Sources: Rupert Murdoch and Jerry Hall are divorcing; the split, his fourth, is unlikely to alter the structure of his businesses, with family shares in a trust  —  The media mogul's fourth divorce is unlikely to change the ownership structure of Mr. Murdoch's empire, but it could reverberate …
Lucas Shaw / Bloomberg:
Sources: Pink Floyd is seeking $500M+ for their music catalog and merchandise rights, with Warner Music Group, Sony Music Entertainment, and BMG among bidders  —  Members of the rock band Pink Floyd are seeking at least $500 million in a deal for their music catalog, according to people familiar …
Naman Ramachandran / Variety:
Barb: UK households with a streaming service subscription reached 19.57M in Q1 2022, up ~500,000 from Q4 2021; Apple TV+ grew 27% QoQ and Disney+ grew 19% QoQ  —  STREAMING … BARB's establishment survey for the first quarter of the year reports that the number of U.K. households with access …
Discussion: AppleInsider
Megan Graham / Wall Street Journal:
A look at efforts to reduce digital advertising's carbon footprint, which, according to a 2018 study, accounted for roughly 10% of the internet's energy usage  —  Digital ads require a lot of computing power, but the exact amount of electricity they consume is hard to pin down
Discussion: @nalanpog, @openx, @ad_association and @raju
Jim Waterson / The Guardian:
News UK's talkTV ratings remain far behind rivals, with Piers Morgan's show getting 64K viewers on Monday; Murdoch has become involved in reviving the channel  —  Effort to revive fortunes of Piers Morgan-fronted rightwing channel include appointing new boss and expected relaunch
Mia Sato / The Verge:
Snapchat announces a one-year accelerator program for 25 Black Snapchat creators, offering a $10K/month stipend, a Google Pixel 7 Pro, and more  —  Participants will receive $10,000 a month in funding  —  Twenty-five Black Snapchat creators will receive funding, mentorship …
Discussion: Adweek, TechCrunch and @blackamazon
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 More News: 
Wall Street Journal:
Sources: Comcast and Google have emerged as the top contenders to help Netflix develop an ad-supported tier, and Netflix has discussed ad partnerships with Roku
Max Brantley / ArkansasTimes:
An appeals court rules against The Arkansas Times, which challenged a state law requiring contractors to pledge not to boycott Israel; the ACLU plans to appeal
 Earlier Picks: 
Sarah Perez / TechCrunch:
Twitter tests Twitter Notes with select users, for creating long-form content with rich text formatting and uploaded media that can be tweeted upon publishing
Charlotte Tobitt / Press Gazette:
The UK unveils a Bill of Rights, which would replace the Human Rights Act and make it harder for courts to order journalists to disclose their sources
Sara Fischer / Axios:
PwC: in 2026, the US is expected to become the first major media market in the world to see digital newspaper ad revenue eclipse print newspaper ad revenue