Mediagazer: Elon Musk says a ~50% ad revenue drop and a heavy debt load kept Twitter cash flow negative; he said in March 2023 the company could be cash flow positive in Q2 (Jahnavi Nidumolu/Reuters)

4:45 PM ET, July 17, 2023

Top News:

Politico names co-founder John Harris as its top editor, overseeing US and European newsrooms; Matt Kaminski shifts to editor at large at the end of August 2023 — Mr. Harris, who helped found the media outlet in 2007, will succeed Matt Kaminski as the publication's editor in the United States …

Discussion: Washington Post, Talking Biz News, The Wrap, Deadline, @maxwelltani, @katie_robertson and @maggienyt

Byline Times:

Investigation: GB News presenter Dan Wootton used fake online identities from 2008 to 2018 to trick and bribe many men into sharing compromising sexual material — In the first part of its three-year special investigation, Byline Times reveals the accounts of victims targeted by the powerful TV presenter

Discussion: @imshanereaction, @imshanereaction, @rubytrubes, @adambienkov and @adambienkov

Brian Schwartz / CNBC:

Sources: Tucker Carlson signed a seven-figure ad deal with Public Square, making the anti-ESG shopping app one of his Twitter show's first advertisers — - Tucker Carlson has agreed to a seven-figure ad deal with Public Square (PublicSq.), a conservative-friendly shopping app, for his Twitter show.

Discussion: New York Daily News, Axios, The Wrap, @schwartzbcnbc, @cacoreyu, Wall Street Journal and The Information

Bryan Alexander / USA Today:

An interview with Jesse Watters about how his controversial comments are “brutally honest”, Tucker Carlson's firing, and more, as he moves to Carlson's 8pm slot — “Jesse Watters Primetime” will finally live up to its name. — The Fox News host won the conservative commentator golden ticket …

Discussion: Media Matters for America, @decodingfoxnews, @davidfolkenflik, @jessebwatters, @abughazalehkat, NPR and The Desk

Etan Vlessing / The Hollywood Reporter:

NYC-based private equity firm Integrated Media Company plans to acquire Toon Boom Animation from Corus Entertainment's cartoon company Nelvana for CA$147.5M — The software firm, owned by cartoon company Nelvana and part of Corus Entertainment, was sold to a New York-based equity firm, Integrated Media Company.

Clothilde Goujard / Politico:

The Norwegian Data Protection Authority orders Meta to stop showing users personalized ads for three months starting on August 4 or face a daily ~€89,500 fine — Meta's social media platforms will be barred from behavioral advertising in August. — 3 MINUTES READ

Discussion: The San Diego Union-Tribune, TechCrunch, Reuters, @jason_kint, @eric_seufert, @johnnyryan and Engadget, more at Techmeme »

Bloomberg:

Antenna: June 2023 was Netflix's best US growth month in years, with a gross ~3.5M signups, 100%+ above its recent averages, amid its password sharing crackdown — Netflix just had its best month in years and Disney is looking to sell its TV assets. What does that mean for the future of Hollywood?

Discussion: @lucas_shaw, @lucas_shaw, @carnage4life@mas.to, @jerrycap, @scottgustin and CNBC, more at Techmeme »

Caitlin Huston / Hollywood Reporter:

Fox's free ad-supported streaming service Tubi hires Vimeo CEO Anjali Sud as its new CEO, reporting to Tubi Media CEO Paul Cheesbrough, starting on September 1 — The executive had been CEO of video platform Vimeo since 2017. — Vimeo CEO Anjali Sud has been named the new CEO of Fox's free ad-supported streaming service Tubi.

Discussion: The Desk, Adweek, Variety, TechCrunch, The Wrap, @tvgrimreaper, Broadband TV News, Deadline, @anjsud, @xpangler and Cord Cutters News

Brian Steinberg / Variety:

Comcast adds NBC News Now, the free ad-supported streaming service NBC launched in 2019, to its X1 platform and channel guide, alongside 20 other FAST channels — Cable subscribers typically recognize a handful of news brands, including CNN, MSNBC and Fox News Channel.

Discussion: The Desk, Light Reading, @simplyzinhle, @tvkatesnow, @adrianbutler, @tomranzweiler and Cord Cutters News

Ivan Mehta / TechCrunch:

Meta rebrands Facebook's Watch tab as Video, which will now include all visual content like Reels, long-form content, and live videos, and adds editing features — Facebook announced new video-related features today ranging from editing to discovery to make the platform competitive with YouTube and TikTok.

Discussion: PRWeek, MediaPost, The Verge, Engadget, @paulgreenberg and Meta, more at Techmeme »

Sara Guaglione / Digiday:

Analyses: 53% of weekly US podcast listeners listen to non-US podcasts; in February 2023, Latin America saw the fastest growth in podcast listeners, up 7.7% YoY — Though the podcast industry is in a state of correction after a period of significant investment, some podcast networks have found …

Discussion: @glenngabe and @ryanmcraver

Jahnavi Nidumolu / Reuters:

Elon Musk says a ~50% ad revenue drop and a heavy debt load kept Twitter cash flow negative; he said in March 2023 the company could be cash flow positive in Q2 — Elon Musk said Twitter's cash flow remains negative because of a nearly 50% drop in advertising revenue and a heavy debt load.

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Variety:
Alexandre Fonseca, Altice Group's co-CEO and Altice USA's chairman, resigns after Portuguese police arrested an Altice Group co-founder in a corruption probe

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Brendan O'Boyle / Reuters:
Local media report that Mexican journalist Nelson Matus was killed on July 15 in Acapulco after reportedly surviving two assassination attempts in 2017 and 2019

Discussion: Fox News and Agence France-Presse

Financial Times:
A look at Russian warlord Yevgeny Prigozhin's online media empire, which stands in post-mutiny limbo after Russia's internet censor banned Prigozhin websites

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Lewis Gordon / The Ringer:
After DVDs and streaming, Netflix gears up for what appears to be its third and most ambitious act: video games, with 67 in its library and 86 in development

Discussion: Insider, @lewis_gordon, @lewis_gordon, @ringer, @soi, @ballmatthew, @lewis_gordon, @adrianhon@mastodon.social, Comic Book and CBS News

Clayton Davis / Variety:
Letter: the Academy of Motion Picture Arts and Sciences affirms its commitment to DEAI programs; at least four Black leaders left the Academy in the past year

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Gene Maddaus / Variety:
Sources detail some of SAG-AFTRA's demands, including paying 2% of streaming revenue to performers, compensation when using AI likenesses, pay raises, and more

Discussion: Jalopnik, @variety_cynthia, @somebadideas, @tvgrimreaper, @cinesnark, @pagetpaget, @alexandrian.bsky.social, @brianstorms@mastodon.social, The A.V. Club, The Hollywood Reporter and The Hollywood Reporter

Earlier Picks:

Sohee Kim / Bloomberg:
A look at Sony-owned Crunchyroll, which has 100M+ registered members, including 11M paid subscribers, as the anime streaming service looks to India for growth

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Rhiannon Williams / MIT Technology Review:
Study: ChatGPT helped writers complete tasks, such as writing press releases or reports, 40% faster and produce work that assessors scored 18% higher in quality

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Charlotte Klein / Vanity Fair:
Sources: at an all-hands, New York Times staff expressed frustration at how the sports desk was cut and raised concerns over differing standards at The Athletic

Discussion: @dvnjr, @dvnjr, @alex_shephard, @charlottetklein, @dvnjr, @fakebook, @sidhubaba, @GW@newsie.social and New York Magazine

Jessica Nicholson / Billboard:
Radio and music industry trade website All Access plans to close on August 15, 2023, after 28 years, over a revenue drop “that makes moving forward impossible”

Discussion: AllAccess.com, Digital Music News, The Desk, @miguelfuller, @timmurphytalks, @jbleach85, @foxebenbrown, @jamescridland, @tonylorino, @jaredhalpern, Deadline and Inside Radio

Amanda Silberling / TechCrunch:
Creator monetization platform Passes, founded in 2022, plans to acquire rival Fanhouse, founded in 2020; some creators are worried and one Fanhouse founder quit

Discussion: Music Ally, Digital Music News, @asilbwrites, @lucy_guo, @lucy_guo, @itsbellaxrose, @lucy_guo, @lucy_guo, @rileyrosez, @jasminericegirl, The Passes Blog and The Information

David Satin / The Streamable:
The Phoenix Suns and Gray Television's broadcasting deal, announced in April 2023, becomes official; report: Diamond Sports' RSN could not match Gray's offer

Discussion: The Hollywood Reporter, Sports Business Journal, Sportico, The Desk, Awful Announcing, Barrett Media, Cord Cutters News and The Athletic

From Techmeme:

Jason Schreier / Bloomberg:
Sources: after closing several video game studios, Microsoft plans more cuts, as the massive Activision acquisition has ramped up scrutiny on the Xbox division

Wall Street Journal:
In a blog post, Neuralink details a problem with its implant in patient Noland Arbaugh's brain that reduced data collection after the implant's threads came out

Wall Street Journal:
Binance sources and docs: an internal investigator, dismissed in late 2023, found evidence of secret internal trading accounts and DWF Labs' market manipulation

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