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10:00 AM ET, February 6, 2024

Mediagazer

 Top News: 
Ashley Carman / Bloomberg:
Spotify reports Q4 revenue up 16% YoY to €3.7B, MAUs up 23% YoY to 602M, subscribers up 15% YoY to 236M, a €75M operating loss, and expects 618M MAUs in Q1 2024  —  - Spotify posts second-largest gain ever for the quarter  — Company has been cutting costs in drive to become profitable
RELATED:
Mike Isaac / New York Times:
Meta proposes standards to identify AI content that its industry peers could use, and plans to label AI images posted on Facebook, Instagram, and Threads  —  The social network wants to promote standardized labels to help detect artificially created photo, video and audio material across its platforms.
Washington Post:
The Atlantic cuts ties with prominent contributor Yascha Mounk after writer Celeste Marcus accused him of rape; Mounk calls the claims “categorically untrue”  —  The Atlantic magazine has cut ties with writer Yascha Mounk, one of its prominent contributors, after a woman accused him of rape …
Amy Or / Bloomberg:
Sources: Reddit had over $800M in revenue in 2023, up 20%+ YoY, and was not profitable for the full year; a source says Reddit was profitable in Q4  —  - Social site posted over $800 million revenue last year  — Reddit may reveal public IPO filing as soon as this month
Will Fischer / Nieman Lab:
Q&A with Javonte Anderson, editor of Capital B Gary, a Black-focused nonprofit news outlet, on working with locals, shaping coverage via user surveys, and more  —  “We want to meet the people where they're at, whether that's churches, neighborhood block clubs, salons, or barber shops.”
Jonathan Stempel / Reuters:
A US judge finds WBD didn't overstate HBO Max streaming subscriber numbers prior to its 2022 merger and dismisses a proposed class action lawsuit from investors  —  Warner Bros Discovery (WBD.O) on Monday won the dismissal of a proposed class action led by Ohio Attorney General Dave Yost …
Selome Hailu / Variety:
Nielsen: the 66th annual Grammys hit an average 16.9M viewers, up 34% YoY, across CBS, Paramount+, CBS.com, and the CBS app; Paramount+ streams were up 173% YoY  —  The 66th annual Grammy Awards took a fast car towards ratings success on Sunday, bringing in an average 16.9 million viewers …
Alex Ritman / Variety:
Arthouse streamer Mubi acquires a majority stake in leading Benelux indie distributor Cinéart, marking the first acquisition of a distributor by Mubi  —  Arthouse streamer and distributor Mubi has acquired a majority stake in leading Benelux indie distributor Cinéart …
Jonathan Vanian / CNBC:
Last week's earnings showed signs of an ad market turnaround, with Meta's ad sales up 24% YoY, Amazon's ad business growing 27%, and Google's ad business up 11%  —  - The digital advertising market appears to be on the upswing based on quarterly results last week from Alphabet, Meta and Amazon.
Financial Times:
Microsoft strikes an AI deal with Semafor for a breaking news feed called Signals; Ben Smith says it will be written by journalists, using AI as a research tool  —  Collaboration comes as tech giant faces multibillion-dollar lawsuit from the New York Times Microsoft is working with media start …
RELATED:
Noreen Gillespie / Microsoft On the Issues:
Microsoft announces AI partnerships with the Craig Newmark School of Journalism, the Online News Association, the GroundTruth Project, and Nota
 
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 More News: 
Nitish Pahwa / Slate:
A look at the decline of Quora, which used to stand out as an accuracy-focused, knowledge-centric platform but is now filled with bizarre, AI-generated entries
Lachlan Cartwright / The Hollywood Reporter:
Memo: CNN revamps its morning schedule, moving up News Central to 7am ET; This Morning moves to Atlanta, Phil Mattingly and Poppy Harlow will move to new roles
Daniel Thomas / Financial Times:
UK-based Reach strikes a deal with Amazon for “contextual” first-party data to target online ads, as the media industry adapts to the end of third-party cookies
 Earlier Picks: 
Max Tani / Semafor:
How Condé Nast bought and destroyed Pitchfork by absorbing its creative teams and trying to fit it into the audience-driven terms of programmatic ad sales
Georg Szalai / The Hollywood Reporter:
Freely, a free UK streaming service backed by the BBC, ITV, Channel 4, and Channel 5 that will deliver live TV over broadband, plans to launch in Q2 2024
Discussion: Variety
Financial Times:
A look at the potential deal between Skydance and Shari Redstone's National Amusements, as a tough media industry landscape forces Redstone to consider offers
 

 
From Techmeme:

Gavin Anderegg / anderegg.ca:
Bluesky is working to become fully decentralized but it could take years amid financial concerns as it makes money only by selling domains for usernames

Wall Street Journal:
Sources: T-Mobile's network was among the systems hacked by the China-linked Salt Typhoon group, and some foreign telecommunications firms were also compromised

Wall Street Journal:
Sources: ByteDance is valuing itself at about $300B as part of a recent buyback offer, one of its highest valuations ever
 
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