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12:50 AM ET, July 26, 2023

Mediagazer

 Top News: 
Todd Spangler / Variety:
YouTube's ad revenue increased 4.4% YoY to $7.67B in Q2, above expectations of $7.43B and a reversal after three consecutive quarters of declines  —  Alphabet, the parent company of Google and YouTube, came in above analyst earnings expectations, with top-line growth of 7%.
RELATED:
Miles Kruppa / Wall Street Journal:
Alphabet reports Q2 Google ad revenue of $58.14B, growing 3% YoY after two consecutive quarters of falling ad sales  —  Financial chief Ruth Porat to become Alphabet's president and chief investment officer  —  Google reported a pickup in revenue growth during the most recent quarter …
Aisha Malik / TechCrunch:
CEO Daniel Ek teases ways Spotify could integrate additional AI functionality into its products, including summarizing podcasts and generating audio ads  —  During the company's second-quarter earnings call this morning, Spotify CEO Daniel Ek teased a few ways the streaming service could introduce additional AI-powered functionality.
RELATED:
Ashley Carman / Bloomberg:
Spotify Q2: revenue up 11% YoY to €3.2B, Premium subs up 17% YoY to 220M, MAUs up 27% YoY to 551M; Q3 sales forecast below analyst est.; SPOT closes down 14.26%
Tatiana Siegel / Variety:
Sources detail Jeff Zucker's efforts to court potential investors in a bid for CNN, including Jeff Bezos, Laurene Powell Jobs, Alex Soros, and Roman Abramovich  —  Jeff Zucker was breezing through the Faena Hotel in Miami Beach when he spotted David Zaslav across the room.
Newley Purnell / Wall Street Journal:
Meta hasn't labeled propaganda accounts of state-backed media from Russia and other authoritarian governments on Threads, unlike on Facebook and Instagram  —  State-backed media accounts have hundreds of thousands of followers without the labels they are made to carry on Instagram and Facebook
Jon Lafayette / Next TV:
Marquee Sports Network, a Chicago Cubs and Sinclair joint venture, launches a streaming app with live Cubs games and more in the Chicago area, for $19.99/month  —  Subscription costs $19.99 a month  —  Marquee Sports Network, the regional sports network joint venture of the Chicago Cubs and Sinclair …
Matias Grez / CNN:
The BBC apologizes for a reporter's “inappropriate” question at the Women's World Cup opener; the reporter asked Morocco's captain if the team had gay players  —  Women's World Cup 2023: Live scores, fixtures, results, tables and top scorers  —  The BBC has apologized for an …
Angelique Jackson / Variety:
SAG-AFTRA Foundation president Courtney B. Vance says Dwayne Johnson donated a seven-figure sum to the SAG-AFTRA Relief Fund, the largest single donation ever  —  On July 13, as SAG-AFTRA leadership declared the union was going on strike, SAG-AFTRA Foundation president Courtney B. Vance …
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Washington Post:
The previous big strikes reshaped Hollywood and fueled reality TV's rise; the current ones will likely turn established actors into TikTok stars and vice versa
Charlotte Tobitt / Press Gazette:
The Guardian reports revenue up 3.4% YoY to £264.4M for FY ending March 31, 2023, digital reader revenue grew 7.6%, and digital makes up 70% of total revenue  —  Total revenues were up 3% in the year to 31 March 2023.  —  Guardian Media Group has maintained a four-year run of revenue growth …
RELATED:
Charlotte Tobitt / Press Gazette:
The Guardian creates seven journalist jobs to improve its coverage of underrepresented communities, including in the UK and US, after its founder's slavery ties
Jonathan Vanian / CNBC:
Snap Q2: revenue down 4% YoY to $1.07B, vs. $1.05B est., global DAUs up 14% YoY to 397M, vs. 395M est., and Q3 revenue forecast below est.; SNAP down 16%+  —  - Snap's overall sales in the second quarter declined 4% from the $1.11 billion it logged in the previous year during the same period.
Sarah Taaffe-Maguire / Sky News:
NatWest CEO Dame Alison Rose admits to being the BBC source for an erroneous story that said Coutts de-banked Nigel Farage for financial, not political, reasons  —  NatWest chief executive Dame Alison Rose said she thought she was confirming publicly available information to a BBC reporter …
 
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 More News: 
Charlotte Tobitt / Press Gazette:
In response to MPs questions over The Sun's Huw Edwards reporting, its EIC says the story had “significant scrutiny pre-publication” and corroborative evidence
TechCrunch:
Threads adds an option for a chronological feed of posts from people the user follows
Jon Lafayette / Next TV:
Nexstar names Fox distribution head Michael Biard as its president and COO, effective August 21; Fox Corp. names David Espinosa to succeed Biard
Thomas Seal / Bloomberg:
The UK plans to force social media and ad platforms like Google Ads to stop scam ads including fake celebrity endorsements and pop-ups with malware
Discussion: Financial Times
 Earlier Picks: 
Todd Spangler / Variety:
Netflix rolls out a My Netflix tab on iOS, superseding the Downloads tab to offer downloads, watch lists, reminders, and more; Android gets My Netflix in August
Aisha Malik / TechCrunch:
TikTok rolls out support for text posts, available via the app's Camera page and letting users add sounds, locations, stickers, and more
 

 
From Techmeme:

Gary Marcus / Marcus on AI:
Apple AI researchers say they found no evidence of formal reasoning in language models and their behavior is better explained by sophisticated pattern matching

Anthony Ha / TechCrunch:
Matt Mullenweg says WordPress is “forking” Advanced Custom Fields, a plugin developed by WP Engine; ACF team says the plugin was taken away “without consent”

Wes Davis / The Verge:
Threads users criticize Meta after the company posted AI-generated images of the Aurora Borealis on its Threads account

 
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