Top News:
Todd Spangler / Variety:
Spotify reports Q2 revenue up 23% YoY to €2.9B, a €125M net loss, up from €20M YoY, MAUs up 19% YoY to 433M, and Premium users up 14% YoY to 188M; stock up 12% — Spotify turned in strong numbers for the second quarter, beating expectations for total and paid subscriber adds and reporting 23% revenue growth.
Discussion:
Music Business Worldwide, Spotify Investor Relations, @kevinbrennanmp, Ad Age, TechCrunch, @dada_drummer, Music Technology Policy, @eldsjal, @jherskowitz, CNET, Billboard, @richlightshed, @trengriffin, @lucas_shaw, @tvgrimreaper, @aagave, @lucas_shaw, Digital Music News, @livesquawk, @tvgrimreaper and Hypebot, more at Techmeme »
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The Hollywood Reporter:
CEO Daniel Ek says Spotify plans to reduce the pace of hiring by 25%: “I do believe only the prepared survive, and we're preparing as if things could get worse” — As the music streaming giant's stock jumps, CEO Daniel Ek addresses macro-economic challenges, saying …
Discussion:
Axios, Spotify, The Verge, @sarafischer, Deadline, Business Wire and Fast Company
Ingrid Lunden / TechCrunch:
Spotify has “decided to stop further production of Car Thing units” and will take a €31M charge, citing factors like “product demand and supply chain issues” — Spotify's push to complement its music streaming with a big move into podcasting and related content appears …
Discussion:
ScreenRant, TechRadar, @chrismessina, @ashleyrcarman, 9to5Mac, @ashleyrcarman, @ashleyrcarman, 9to5Google, @heilemann, @lexnfx, CNET, Gizmodo and The Verge, more at Techmeme »
Abner Li / 9to5Google:
Google delays phasing out third-party cookies in Chrome to H2 2024, after deferring the plan from 2022 to 2023, citing the need for more Privacy Sandbox tests — Google was originally planning to get rid of third-party cookies in its browser by 2022, but that was later pushed back to 2023.
Discussion:
Insider, The Keyword, MediaPost, CNET, AdExchanger, The Verge, The Drum, @aexm, @martinsfp and StreetInsider.com, more at Techmeme »
Charlotte Klein / Vanity Fair:
Some Republican candidates are barring mainstream media from events and ignoring debate requests as US midterm elections approach, favoring right-wing outlets — GOP politicians are increasingly shirking sit-down interviews, barring journalists from 2022 events, and skipping debates …
Discussion:
@jeff_jacoby, New York Magazine, @aaronhuertas, @jonathanchait, @msignorile, New York Magazine, @isaacdovere, @jonathanchait, @reportercioffi, @jason_a_w, @karlbode, @pbump, @davereaboi, @joetalkshow, @greg_price11, @jameslynch32, @mattgertz, @arkansasblog, @mlcalderone and Media Matters for America
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Paul Farhi / Washington Post:
A profile of Governor Ron DeSantis' press secretary Christina Pushaw, who uses Twitter to attack journalists and mainstreamed the term “groomer” within the GOP — Known for her aggressive Twitter comments and brusque treatment of the media, the Florida governor's press secretary has used taunts to solidify a tough image
Discussion:
@jayrosen_nyu, @ryanlcooper, @hshaban, @kemc, @adamdavidson, @jason_howerton, @jackhealynyt, @dandrezner, @murphymike, @soledadobrien, @mlcalderone, @drewharwell and @timjgraham
Emma Roth / The Verge:
TikTok plans to give select researchers “public and anonymized data” from its platform and moderation system to “assess content and trends or conducts tests” — The move comes hours after a report reveals TikTok's efforts to distance itself from China
Discussion:
@tiktokcomms, TikTok, @attorneynora, @brandonsilverm, @v_ness, @joepcunningham, @logandobson and Axios, more at Techmeme »
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Chris Stokel-Walker / Gizmodo:
Internal TikTok PR documents reveal suggested responses to difficult questions, including downplaying AI, parent company ByteDance, and “the China association” — Leaked documents detail what TikTok tells the media—and what it doesn't. — Leaked documents from within TikTok reveal …
Discussion:
Insider, Tubefilter, @jimhansondc, New York Post, @alexhern, @stokel, @annalecta, @thatdanstewart, Newslit Daily, @stokel, @iblametom and TechCrunch, more at Techmeme »
Sara Fischer / Axios:
Hulu now accepts political issue ads, after Democrats complained over rejected ads around guns and abortions, matching the policies of Disney's cable networks — Disney on Wednesday confirmed to Axios that it would allow political issue ads — in addition to candidate ads …
Discussion:
Variety, Washington Post, Mediaite, UPI, The Hollywood Reporter, The Week, Vanity Fair, CNET, The Streamable, Los Angeles Times, The Verge, @sarafischer, @neontaster, The A.V. Club, @sarafischer, Gizmodo, Media Play News, Forbes, @lesliemac, Protocol, The Wrap, @issielapowsky, @kestral52, @sifill_, IndieWire, Decider, Insider and Rolling Stone
Salvador Rodriguez / Wall Street Journal:
Meta reports its first-ever YoY quarterly revenue decline and issues a lowered Q3 forecast, citing a weak ad demand environment and macroeconomic uncertainty — Social-media giant missed Wall Street's sales expectation but added users—defying analysts' projections — The Tech Sector Is Taking a Beating.
Discussion:
Variety, TechCrunch, New York Times, Axios, CNBC, @levynews, @ryanbarwick, Forbes and Protocol, more at Techmeme »
Taylor Lorenz / Taylor Lorenz's Newsletter:
Nostalgia for the “old”, chronological Instagram makes sense but belies changing norms around online sharing, communication, privacy, and engaging content — It isn't just the platform that has changed, we have too. — Over the past few days there's been a movement to “Make Instagram Instagram again.”
Discussion:
@theurbanjuror, @rossreports, @boopfashionista, @rrroooiiirrr, @_zeets, @taylorlorenz, @caseynewton, @taylorlorenz and @taylorlorenz, more at Techmeme »
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Taylor Lorenz / Washington Post:
Source: Meta is forming an advisory board composed of top entertainment executives, managers, and publicists; the board will not advise on product changes
Discussion:
Insider, Fast Company, Today in Tabs, @taylorlorenz, @edwardbarsamian, @taylorlorenz, @drewharwell, @arainert, @jessespector and @taylorlorenz
Jon Harris / Buffalo News:
The Buffalo News names Sheila Rayam as executive editor, the first Black journalist and second woman to hold the position in the paper's 142-year history — Longtime journalist Sheila Rayam has been named executive editor of The Buffalo News, the first Black journalist and the second woman …
Discussion:
@sulliview, American Press Institute and @joespectorny
Jackson Richman / Mediaite:
After Turning Point USA sent a cease-and-desist to ABC News, The View apologizes for associating the group with neo-Nazis who protested outside its summit — The View apologized for lumping in Turning Point USA with neo-Nazis who protested outside the pro-Trump youth group's summit.
Discussion:
Fox News, Decider, American Greatness, @johnrobertsfox, The Sun, Deadline and The Hill
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