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, Variety, @hedgeyecomm, Forbes, The Streamable, Axios, Light Reading, @sherman4949, @sherman4949, @pkafka, ABC7, @tvmojoe, @frankpallotta, New York Post, Fortune, Deadline, @klendathucap, @carnage4life, @joshuaogundu, Wall Street Journal, @cnbcovertime, @laurengoode, @lesliejosephs, @lesliepicker, @shruti_shekar, @samro, @variety, @lucas_shaw and @lucas_shaw, 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:
The Wrap, TechCrunch, About Netflix, Axios, @emohorgan, Deadline, Reuters, @crecenteb and The Hollywood Reporter
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” — Netflix is angling to win over a new bloc of value-conscious consumers — and help turn around …
Discussion:
Adweek, The Wrap, The Streamable, TechRadar, Protocol, Deadline, Polygon and IndieWire, 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, The Hill, @will_flannigan, @froomkin, @bendreyfuss, @jason_kint, Social Media Today, @revkin, @nicholasvinocur, @alexrkonrad, @tim_bays, @jaycodon, @charlesornstein, @jamesrbuk, @johnghendy, @jbenton, @froomkin, @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 …
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.
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:
SlashFilm, Fortune, @noahshachtman, CBR, The Verge, Gizmodo, Vanity Fair, @alisontheperson, UPROXX, @cmonstah, @josephwulfsohn, @jessehawken, Bleeding Cool, @brendengallager, @rocco_castoro, @michaeltoole, @rickyrawls, @gossithedog, The Playlist, @dramaticdevil, @papapishu, Forbes, @jessehawken, @thediscfather, ScreenRant, Insider, Mashable, Engadget, TechRadar, The A.V. Club and CNET
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:
@yinkawrites, @sarafischer, @cariromm, @emgollie, @jeffjarvis, @delaney and @jessicalessin
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:
@sarafischer
New York Times:
Dana Canedy, publisher of Simon & Schuster's flagship imprint, leaves the job after two years; Jonathan Karp will resume being publisher while remaining the CEO — She was the first Black woman in the position, which she held for two years. Her hiring came amid a push for diversity in the industry.
Discussion:
Publishers Weekly, @ksandler1, @sarahw and Canadian Press
Ryan Barwick / Marketing Brew:
Ebiquity finds its ad clients spent ~$115M, ~7.8% of combined budgets, on clickbait sites with “made for advertising” content, between January 2020 and May 2022 — This ad spend goes to “made for advertising” inventory, which uses clickbait headlines to get eyeballs.
Discussion:
The Drum, @marketingbrew and Adweek
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