Top News:
Alex Sherman / CNBC:
NBCU reports Q2 revenue of $9.4B, up 18.7% YoY, and adjusted EBITDA of $1.9B, up 19.5% YoY; Peacock had a $467M loss and subscribers stayed flat from Q1 at 13M — - Comcast reported earnings for the second quarter before the bell on Thursday — Comcast broadband subscribers were flat at 32.2 million for the quarter.
Discussion:
Variety, The Wrap, The Streamable, Variety, @sherman4949, Deadline, UPI, The Verge, Wall Street Journal, Comcast Corporation and The Hollywood Reporter
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, Digiday, The Register, Mumbrella, @simonjharris, @johnwilander, @larakiara, @aexm, Social Media Today, @martinsfp, MediaPost, AdExchanger, The Verge, The Drum and StreetInsider.com, more at Techmeme »
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:
New York Times, Variety, BIG by Matt Stoller, Facebook, @arpitrage, @levynews, @ryanbarwick, Transistori, Fortune, CNBC, New York Times, CNBC, Forbes and Protocol, more at Techmeme »
Paul Sawers / TechCrunch:
Filing: Spotify bought Findaway for €117M, Sonantic for €91M, and Chartable and Podsights for €83M, with a possible extra payment of €21M — Spotify has quietly announced how much it's paying for four of its recent acquisitions, revealing that it's doling out a combined €291 million …
Peter Houston / Media Voices:
Interview with Medium's VP of Content, who says it is focused on highlighting experts and needs to figure out how to provide users with predictable growth — In our final episode of the season, we hear from Medium's VP of Content Scott Lamb. Scott leads the content and creator relations teams …
Discussion:
What's New in Publishing
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, @dfreelon, @attorneynora, @phmai, @brandonsilverm, @v_ness, @logandobson, Social Media Today, @joepcunningham, @senrubiopress and TechCrunch
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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”
Discussion:
@jimhansondc, @thatdanstewart, Scope Creep 🎯, @annalecta, Tubefilter, @stokel, @iblametom, @stokel, @alexhern, Insider, New York Post, Newslit Daily, Fortune and BuzzFeed News
Naman Ramachandran / Variety:
ITV reports H1 2022 revenue rose 8% YoY to £1.67B, driven by ITV Studios, up 16% YoY to £927M; total ad revenue rose 5% YoY and digital ad revenue rose 20% YoY — U.K. broadcaster ITV's total external revenues are up 8% at £1.67 billion ($2.04 billion), according to half year financial results released on Thursday.
Discussion:
Variety, Deadline, Deadline and The Hollywood Reporter
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, @sarafischer, Spotify, The Verge, Deadline and Business Wire
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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%
Discussion:
Inside Radio, @kevinbrennanmp, Music Business Worldwide, Spotify Investor Relations, Digiday, @dada_drummer, @lucas_shaw, @trengriffin, @eldsjal, @lucas_shaw, TechCrunch, @jherskowitz, @richlightshed, @aagave, @tvgrimreaper, @tvgrimreaper, @livesquawk, Music Technology Policy, Digital Music News, Ad Age, Billboard, CNET, Fast Company and Hypebot
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”
Discussion:
@lexnfx, @heilemann, @chrismessina, The Desk, @ashleyrcarman, @ashleyrcarman, @ashleyrcarman, ScreenRant, 9to5Google, TechRadar, Gizmodo, CNET, 9to5Mac and The Verge
Laura Hazard Owen / Nieman Lab:
Institute for Nonprofit News: 65% of US nonprofit news site launches in 2021 were local; foundations remain the largest funding source for most outlets surveyed — Local news sites have accounted for 55% of all U.S. nonprofit news sites launched since 2017, and last year, 65% of launches were local …
Discussion:
Poynter
Sara Fischer / Axios:
Source and memo: Vox Media lays off 39 people, or less than 2% of its 2,000+ staff, including some in editorial, and will slow hiring, amid economic uncertainty — Vox Media is laying off 39 people, less than 2% of its total staff of more than 2000, in an effort to get ahead of economic uncertainty …
Discussion:
CNBC, @oliverdarcy, @marisakabas, @sherman4949, @tvgrimreaper, @ewerickson, @heminator, @seanagnew, @jason_howerton, @sarafischer, @oliverdarcy, Discourse Blog, MediaPost and Variety
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 — A quick succession of new features and tests has left even the app's most loyal users, including Kim Kardashian, wondering what Instagram is for
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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
Discussion:
People vs Algorithms, Mascarpone, @alex, @caseynewton, @theurbanjuror, @rossreports, @boopfashionista, @rrroooiiirrr, @_zeets, @taylorlorenz, @taylorlorenz and @taylorlorenz
Jackson Richman / Mediaite:
After Turning Point USA sent a cease-and-desist to ABC News, The View apologizes for associating the youth 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, @johnrobertsfox, Decider and Deadline
Rick Edmonds / Poynter:
Money, the finance magazine that converted to digital-only in 2019, becomes the exclusive syndicated provider of finance news to McClatchy's 29 local outlets — Contrary to the unsual hedge fund narrative, McClatchy is increasing its editorial investment — Money, the longtime personal …
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