Top News:
Sarah Whitten / CNBC:
Netflix reports Q2 revenue up 9% YoY to $7.97B, vs $8.04B est., and a 970K subscriber loss vs an estimated 2M subscriber loss; stock jumps 5%+ after hours — Netflix shares jumped 6% after the company said it lost fewer subscribers than anticipated during the second quarter.
Discussion:
Netflix, Reuters, Variety, @hedgeyecomm, Forbes, Neowin, @mylesudland, @jpodnos, The Streamable, @sherman4949, @sherman4949, Deadline, Axios, Protocol, @pkafka, CBS News, New York Post, Fortune, Wall Street Journal, @laurengoode, @smartleverage, @tvmojoe, @joshuaogundu, @klendathucap, @lesliejosephs, @lucas_shaw, @carnage4life, @lesliepicker, @samro, @lucas_shaw, @frankpallotta, @cnbcovertime, ABC7, @shruti_shekar and @variety, more at Techmeme »
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Todd Spangler / Variety:
Netflix acquires Australian animation studio Animal Logic for an undisclosed cash price and expects the deal to close in 2022; Animal Logic has ~800 employees — Netflix is acquiring Australian animation studio Animal Logic, which is producing films for the streamer including …
Discussion:
Mumbrella, TechCrunch, The Wrap, About Netflix, Deadline, Reuters, @emohorgan, @crecenteb and The Hollywood Reporter
Sara Fischer / Axios:
Money magazine, once a prominent Time Inc. title, is profitable again in online-only form as a niche consumer finance brand, current owner Greg Powel says — Money, once a prominent business title under Time Inc., is officially a profitable business again in online-only form, its new owner Greg Powel told Axios.
Discussion:
@sarafischer, @kendallbaker and Talking Biz News
Todd Spangler / Variety:
Netflix plans to launch its cheaper, ad-supported plan in “the early part of 2023”, starting in “a handful of markets where advertising spend is significant”
Discussion:
TechCrunch, Adweek, Neowin, 9to5Mac, The Wrap, The Streamable, The Verge, @xpangler, @verge, TechRadar, Deadline, IndieWire and Polygon, more at Techmeme »
Reuters:
Netflix is borrowing a page from Disney's playbook by building brands that traverse film, TV, games, and consumer products, to counter slowing subscriber growth
Discussion:
@x_cixra_x, @discussingfilm, @jaypeters, The Verge, @byharryconnolly, CBR, @adribbleofink, @isaacmcintyre and @amandarprescott, more at Techmeme »
Wall Street Journal:
Memo to staff: Meta is reallocating resources from Facebook's News tab and newsletter platform Bulletin, as the company focuses more on the creator economy — Senior executive tells employees that News tab and Bulletin newsletter platform will be ‘put on the backburner’
Discussion:
@keachhagey, @asharma, @vivian, @bendreyfuss, @peterbale, @film_girl, @emilybell, @joshgerstein, @will_flannigan, Social Media Today, @froomkin, @alexrkonrad, @tim_bays, @jaycodon, The Hill, @revkin, @charlesornstein, @jamesrbuk, @johnghendy, @jason_kint, @jbenton, @froomkin, @nicholasvinocur, @robpegoraro, @bgrueskin, @caseynewton, @bgrueskin, @nbashaw, @jimwaterson and @walthickey, more at Techmeme »
Sara Fischer / Axios:
UK events and publishing company Informa acquires Industry Dive, a US business newsletter publisher, for $389M in cash and up to $525M depending on performance — Industry Dive, a Washington, D.C.-based business media company, has signed an agreement to be acquired by Informa …
Sara Fischer / Axios:
Bloomberg Media is planning a major international expansion starting in 2022, hiring in-house talent in some markets and partnering with local outlets in others — Bloomberg Media is planning a major expansion into localized coverage of different regions around the world, CEO Scott Havens told Axios.
Discussion:
Talking Biz News and @sarafischer
Tatiana Siegel / Rolling Stone:
Bots amplified the fan-led campaign to release Zack Snyder's Justice League; 13%+ of users in the conversation were deemed fake, above the typical 3% to 5% — A WarnerMedia report reveals that bots and other inauthentic users bolstered the fan-led campaign for director Zack Snyder's Justice League do-over
Discussion:
ScreenRant, @noahshachtman, SlashFilm, @brettsperminute, @knesix, IndieWire, Fortune, The Verge, Gizmodo, @alisontheperson, UPROXX, @cmonstah, @josephwulfsohn, @jessehawken, Bleeding Cool, Vanity Fair, @brendengallager, @rocco_castoro, @michaeltoole, CBR, @rickyrawls, @gossithedog, The Playlist, @dramaticdevil, @papapishu, @jessehawken, @thediscfather, Forbes, Mashable, Insider, Engadget, TechRadar, The A.V. Club and CNET
Brian Steinberg / Variety:
NBC's Today show launches its first digital cover story, a look at creator and actor Issa Rae, as it eyes fans of consumer publications like People and Vogue — The people who oversee “Today” want to lure new audiences from a decidedly different competitor set.
Todd Spangler / Variety:
YouTube rolls out new shopping features, including a Shopify partnership to let eligible US creators and merchants link their Shopify store and YouTube channel — YouTube already soaks up billions of hours of the world's attention. Now the video giant also wants to hoover up a bigger piece of consumers' online purchases.
Sara Fischer / Axios:
Charter, an outlet that covers the future of work, raised a $3M seed to debut Charter Pro, a membership-based insights service for HR leaders by the end of 2022 — Charter, the digital media and insights company focused on the future of work, has raised a $3 million seed round to jump-start …
Discussion:
@sarafischer, @yinkawrites, @cariromm, @emgollie, @jeffjarvis, @delaney and @jessicalessin
Andrew Fedorov / The Fine Print:
Three Substack Local fellows say the year-long grant program didn't provide much business support; Substack's Hamish McKenzie says success wasn't guaranteed — Last April, Substack committed $1 million to a program to give grants for local journalists to launch publications …
Discussion:
@thefineprintnyc, @andrewfed, @blackamazon, @andrewfed, @sarahscire, @scmitchp, @kerrymflynn, @sarahscire, @janefriedman, @hannaraskin, @simonowens and @sarahscire
Amanda Meade / The Guardian:
PwC: Australian households spend AU$4,500+ per year on internet access, pay TV, gaming, news subscriptions, and other media; 75%+ paid for streaming TV in 2021 — PwC expects more than 80% of households will be paying for streaming services by end 2022 — Get our free news app, morning email briefing and daily news podcast
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