Top News:
Sarah Whitten / CNBC:
Netflix reports Q4 revenue up 12.5% YoY to $8.83B vs. $8.71B est., global paid memberships up 12.8% to 260.28M vs. 256M est., net income of $938M, up from $55M — - Netflix added 13.1 million subscribers during the fourth quarter. — The company now has 260.8 million paid subscribers.
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Pranav Dixit / Engadget:
Netflix says user engagement with games on its service tripled in 2023 and Grand Theft Auto has become its most successful launch to date — The company added the Grand Theft Auto trilogy to its offerings late in the year. — Netflix said that user engagement with games on the service tripled in 2023.
Emma Roth / The Verge:
Netflix says it's looking to retire its ad-free Basic plan in some countries where ad-supported plans are available, starting with Canada and the UK in Q2 — Although Netflix no longer allows new or returning members to sign up for the ad-free Basic subscription that costs $11.99 per month …
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Todd Spangler / Variety:
Netflix co-CEO Ted Sarandos says the WWE deal “fits within” its anticipated $17B spending on content in 2024 and is not a change to Netflix's sports strategy — Netflix extended its lead as the world's biggest premium video-streaming platform — pulling in a better …
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Peter White / Deadline:
Netflix says it's not interested in acquiring “linear assets”, and it does not believe further M&A will “materially change the competitive environment” — Netflix is often talked about a potential buyer for big Hollywood studios as the latest set of M&A rumors swirl …
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The Wrap and @tvgrimreaper
CNBC:
Netflix buys the exclusive rights to WWE programs like Raw, airing in 2025 in the US, Canada, Latin America, and more; filing: the 10-year deal is worth $5B+ — - Netflix and TKO Group Holdings said Tuesday that the streaming platform will air the WWE's flagship program Raw starting next year.
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Meg James / Los Angeles Times:
The Los Angeles Times announces it is laying off at least 115 people, or more than 20% of the newsroom, citing annual losses of $30M-$40M — The Los Angeles Times announced Tuesday that it was laying off at least 115 people — or more than 20% of the newsroom — marking …
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CBS News:
Charles Osgood, who joined CBS News in 1971, anchored CBS Sunday Morning for 22 years, and spent decades as a radio commentator, dies at age 91 — Award-winning journalist Charles Osgood, who anchored “CBS Sunday Morning” for 22 years and was host of the long-running radio program “The Osgood File,” died Tuesday at home in New Jersey.
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Katie Kilkenny / The Hollywood Reporter:
Union staffers across Condé Nast brands plan a 24-hour walkout on Jan. 23, coinciding with Oscar nominations, to protest alleged unlawful bargaining practices — More than 400 workers at Vanity Fair, Vogue, Condé Nast Entertainment, Bon Appétit and other brands are walking …
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Max Tani / @maxwelltani:
Memo: Time CEO announces cuts across several departments and says the company has “diligently reduced” expenses but “there is still more work to be done” — Memo to staff from Time magazine CEO Jess Sibley announcing the cuts, saying the company has “diligently reduced our expenses” but “there is still more work to be done.” [image]
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@jyarow, @therealers, @kbode@threads.net, @paigelav, @scottnover and @samro
Charlotte Tobitt / Press Gazette:
Study commissioned by the UK government says the BBC does not serve as a “one-to one substitute for commercial providers in online local news provision” — Ofcom will publish annual report on BBC position in local news sector. — The BBC's online local news output does not add up to a …
Mark Sweney / The Guardian:
At a town hall, Reach CEO says staff have to face the “inconvenient truth” over its declining sale of print titles, but shift to digital will stabilize revenue — Reach chief tells staff to face ‘inconvenient truth’ over print but says digital will stabilise profitability
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@stejck, @iancarterim, @mattlcapon, @joshi, @alicemurphypyle and @philpem@digipres.club
Amanda Silberling / TechCrunch:
MrBeast's first video on X earns $263K+ in ad revenue in one week, but he calls it a “facade” as he thinks advertisers bought ads after noticing its popularity — MrBeast made over $263,000 in ad revenue from posting his latest video on X, but the YouTube icon says he thinks this number is “a bit of a facade.”
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