Top News:
Alex Heath / The Verge:
Memo: on top of cutting 20% of its staff, Snap is canceling its original shows, in-app games, and several other projects; layoffs could save $500M annually — Snapchat's original shows, in-app games, and camera drone are no more — Snap is laying off around 20 percent of its more than 6,400 employees …
Discussion:
Variety, TechCrunch, New York Times, Deadline, CNBC, Axios, @xpangler, @lucas_shaw, @sarafischer, @sarafischer and Forbes, more at Techmeme »
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Alex Heath / The Verge:
Sources: Snap plans to start laying off ~20% of its 6,400+ employees on August 31, 2022, including cuts to its hardware group; Snap stock is down ~80% in 2022 — Snap's stock price has declined nearly 80 percent this year — Snap is planning to lay off approximately 20 percent …
Discussion:
Ad Age, Fast Company, Insider, Wall Street Journal, Gizmodo, Forbes, @editorialiste, @themediaisdying, @om, Digital TV Europe, @pierce, @joannastern, @tessak22, The Information, @jason_kint, @elgray, Variety, New York Post, The Wrap, Transistori and The Hollywood Reporter, more at Techmeme »
Alex Heath / The Verge:
Netflix hires two Snap executives to lead its ad-supported tier: Chief Business Officer Jeremi Gorman and VP of Sales for the Americas Peter Naylor — Snap's VP of ad sales is also leaving for Netflix — Netflix has found an executive to lead its plan for an ad-supported tier …
Discussion:
Variety, Ad Age, Media Play News, Axios, @pkafka, @akruglov, @richlightshed, @tkawaja, @alexeheath, Wall Street Journal, The Wrap, Adweek, Next TV, Deadline and Slashdot, more at Techmeme »
New York Times:
Sources: The Washington Post is on track to lose money in 2022 after years of profitability, and CEO Fred Ryan floated cutting 100 jobs; WaPo denies staff cuts — With digital subscriptions and digital advertising revenue stagnating, the company is on pace to lose money this year.
Discussion:
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Kaya Yurieff / The Information:
Substack reining in writer cash advances and other benefits like health care shows a broader cutback by tech companies, after a two-year battle to lure creators — Substack shook up traditional media last year, offering six-figure cash advances and benefits including healthcare to recruit writers …
Discussion:
@emilybell, @mattlech, @s_m_i, @simonowens, @dangillmor, @karlbode, @kateclarktweets, @kyurieff, @notd_io and @amir
Ivan Mehta / TechCrunch:
Live Nation's Ticketmaster partners with Dapper Labs to release ticket NFTs on the Flow blockchain and expands its NFL partnership for NFTs to 100 games — Ticketmaster will now let event organizers issue NFTs (non-fungible tokens) tied to tickets on Flow, a blockchain operated by a16z-backed Dapper Labs.
Discussion:
Billboard and @yoda, more at Techmeme »
Jim Waterson / The Guardian:
As Reach journalists join the UK's largest newspaper strike in decades, some describe struggling to pay their bills amid the cost of living crisis — Industrial action expected on Wednesday is largest strike to hit UK newspaper industry in decades — hen hundreds of staff at the Mirror …
Discussion:
Press Gazette, @hgvandepeer, @janerockhouse, @royalreporter, @jimwaterson and @jenwilliamsmen
Alan Yuhas / New York Times:
Amid growing outrage, Bell Media CEO Mirko Bibic denies that gender, age, or gray hair were factors in dismissing veteran CTV journalist Lisa LaFlamme — The chief executive of a Canadian news network pushed back against allegations that sex, age or gray hair were factors in the abrupt dismissal …
Discussion:
@michellemanafy, @danbilefsky, @nickkristof, @charlesadler, B&T, Columbia Journalism Review, Boing Boing and Canadian Press
Todd Spangler / Variety:
Samsung announces more content from partners for its ad-supported TV Plus service, adding shows like the BBC's Top Gear and touting local news in 40+ US markets — It's the start of a new chapter for Samsung TV Plus, TV manufacturer's free ad-supported TV (FAST) and video on-demand service …
Discussion:
The Streamable, Axios, Samsung Newsroom, Digital TV Europe, MediaPost, Media Play News, Next TV and Deadline
Sara Fischer / Axios:
Time acquires Brandcast, which offers a no-code service for creating websites, and rebrands it as Time Sites; it is Time's first acquisition under the Benioffs — Time has bought Brandcast, a company that licenses software for easy-to-build marketing websites, Time's editor-in-chief and CEO Edward Felsenthal told Axios.
Discussion:
@raju, @axios, @markstenberg3, @sarafischer and TIME
Mark Bergen / Bloomberg:
A book excerpt details YouTube's efforts to remove Islamic extremist content and how the platform mostly failed to address other forms of political extremism — Unlike many of her colleagues at YouTube, Tala Bardan doesn't remember the company retreat in June 2017 as a nice long weekend.
Discussion:
@bradstone, @daveyalba, @fightextremism, @alexbarinka, @bridgeinit and @joshsteimle
Colin Stutz / Billboard:
Sony Music sues Triller for failing to pay licensing fees for months while continuing to use Sony's catalog after Sony ended their deal earlier in August 2022 — The record label says it's owned millions in monthly payments and for copyright infringement since it terminated their licensing agreement earlier this month.
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