Top News:
The Verge:
Twitch CEO Dan Clancy confirms plans to cut 500+ jobs, or ~35% of its staff, and says its workforce was oversized for its business' size, after March 2023 cuts — Twitch is laying off more than 500 employees, Twitch CEO Dan Clancy announced this morning, reportedly accounting for around 35 percent of its staff.
Discussion:
Twitch, Observer, The Register, The Hill, Bloomberg, Adweek, Dan Rayburn on LinkedIn, Deadline, @tomwarren, CNN, Decrypt, Justin Gerrard on LinkedIn, Tubefilter, Metro, WKYC-TV, Thurrott, @ianbetteridge@writing …, Game Rant, Gizmodo, MediaPost, @lucas_shaw, @carterfornow, @dannyodwyer, @zacharydiaz, @carnage4life, @richlightshed, @tunguz, gamedeveloper, New York Daily News, The Wrap, GamesIndustry.biz, Engadget, Jalyssa Eliasen on LinkedIn, Spencer Soper on LinkedIn, TechCrunch, The Information, GamesHub, Cord Cutters News, Shacknews and Bloomberg, more at Techmeme »
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Alex Weprin / The Hollywood Reporter:
Memo: Amazon Studios SVP Mike Hopkins says the company would cut “several hundred roles” in its Prime Video and MGM Studios units; both had cuts in early 2023 — Mike Hopkins announced the cuts Wednesday. — Amazon is cutting hundreds of jobs in its Prime Video and MGM Studios division.
Discussion:
Variety, Mumbrella, The Information, Next TV, CNBC, @lmoses, Los Angeles Times, Thurrott, KTFT, Business Insider, Wall Street Journal, Observer, The Wrap, Reuters, @tim_bays, IndieWire, @jessicalessin, @lucas_shaw, Breitbart, @davidclinchnews, @carnage4life@threads.net, Engadget, TechCrunch, Media Play News, Commercial Observer, MediaPost, Cord Cutters News and Bloomberg, more at Techmeme »
Deadline:
Memo: Amazon Studios Head Jennifer Salke says recent layoffs were part of its plan to consolidate the Amazon Studios and MGM theatrical distribution teams — EXCLUSIVE: Earlier this morning, Amazon revealed that it was laying off several hundred employees across Prime Video and Amazon Studios as part of a review of its business.
Discussion:
The Wrap
Wall Street Journal:
Sources: Skydance backers are discussing an all-cash bid for National Amusements; if successful, they would pursue a second deal to merge Paramount and Skydance — CEO Ellison, his father, Larry, and other investors are in talks to buy Redstone's stake in National Amusements, Paramount's parent
Discussion:
Los Angeles Times, Variety, New York Post, @jtoonkel, Deadline, @cgasparino, @cgasparino, The Wrap, @tvgrimreaper, @asharma and Bloomberg
Los Angeles Times:
California public radio station KCRW cuts about 16 jobs by offering buyouts and ends its Greater LA podcast, in a bid to reduce a projected $3M budget deficit — Santa Monica public radio station KCRW will part ways with more than a dozen staffers and end the popular podcast “Greater LA.”
Discussion:
The Wrap, @bigdanimals, @radiochio and @radiochio
Maria Sherman / Associated Press:
Luminate's 2023 report: the global music industry passed 4T streams in 2023, a new record and up 34% YoY; Taylor Swift accounted for one in every 78 US streams — Listened to more music last year? You're not alone. — The global music industry surpassed 4 trillion streams in 2023 …
Discussion:
Luminate, CNN, Axios, @lucas_shaw, Variety, @alexselbyb, Music Business Worldwide, Billboard, @lucas_shaw, @lucas_shaw and Music Ally, more at Techmeme »
Todd Spangler / Variety:
Netflix President of Advertising Amy Reinhard says its ad tier has 23M+ MAUs globally, and 85% of customers on the ad tier are streaming for 2+ hours per day — Netflix is seeing strong growth of its advertising-based plan, having recently eclipsed 23 million global monthly active users, president of advertising Amy Reinhard said.
Discussion:
Reuters, The Information and Media Play News, more at Techmeme »
Michael M. Grynbaum / New York Times:
Donald Trump will appear in his first live Fox News interview in nearly two years later today; sources say Trump thinks Fox erred in settling with Dominion — A town hall in Iowa on Wednesday is the network's first live interview with the former president in nearly two years, the latest twist in a long-running drama.
Discussion:
The Hill, Axios, @grynbaum, @alexthomp, @alexthomp, @sarafischer, @davidfolkenflik, The Streamable and Semafor
Bloomberg:
Sources: OpenAI is in talks with CNN and Fox Corp. to license their text, video, and image content; Time “is in discussions with OpenAI” about a content deal — - Startup has said it's in discussions with dozens of publishers — Negotiations come as OpenAI faces New York Times lawsuit
Discussion:
Reuters, @wholemarsblog, @davidclinchnews, @lynnmdoan and @shiringhaffary, more at Techmeme »
Press Gazette:
The Reuters Institute survey of news leaders: 48% say money from AI deals will be very little for any publisher, most will put more effort into WhatsApp, more — The Reuters Institute survey touched on AI pessimism, news avoidance and paywall success. — Less than half of news leaders feel confident …
Discussion:
@nicnewman, @nicnewman, @nicnewman, @pressgazette, Decrypt and BuzzMachine
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Bloomberg:
Sources: WPP is considering options to exit its 40% stake in market-research business Kantar; WPP sold 60% of Kantar to buyout firm Bain Capital in 2019 — - Kantar could be valued about £7 billion in a transaction — WPP sold a majority stake in Kantar to PE firm Bain in 2019
Sarah Perez / TechCrunch:
Sensor Tower: Netflix Games downloads rose 180%+ YoY to 81.2M globally across the App Store and Google Play in 2023, with Q4 accounting for ~53% of downloads — Just over two years ago, Netflix announced it would enter a new business: gaming. Amid a mobile gaming market dominated by free …
Discussion:
@economyapp, more at Techmeme »
The Guardian:
An armed gang stormed Ecuador's TC Televisión during a live broadcast, after Ecuador's president declared a state of emergency; all the gunmen were arrested — Gangsters unleashed wave of terror following move by President Daniel Noboa in response to gang leader's prison escape
Discussion:
Reporters Without Borders, The Mirror, Taipei Times, The Daily Beast, Associated Press, Breitbart, @sentdefender, CBS News, abc7NY, Semafor, Reuters, New York Times, TMZ.com, The Gateway Pundit, NBC 7 San Diego, Financial Times, Blaze Media, Fox News, Voice of America, Mediaite, BBC, The Universe As A Causal Set, The Daily Caller, New York Post and Deseret News
Peter Kafka / Business Insider:
Source: the Los Angeles Times is looking at another round of cost-cutting this year, aiming to cut more than $10M from its budget — - Another billionaire is having a hard time with his newspaper. — Jeff Bezos's Washington Post made big cuts — and Warren Buffett has given up on papers altogether.
Discussion:
Washington Post, @pkafka, @tomaxwell, MediaPost, Axios, The Wrap and Bloomberg
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