Mediagazer: Tencent reports Q1 revenue up 6% YoY to ~$22.1B and online ad revenue up 26% YoY to ~$3.66B driven by upgraded ad infrastructure and WeChat Video Accounts (Josh Ye/Reuters)

9:15 AM ET, May 14, 2024

Top News:

Josh Ye / Reuters:

Tencent reports Q1 revenue up 6% YoY to ~$22.1B and online ad revenue up 26% YoY to ~$3.66B driven by upgraded ad infrastructure and WeChat Video Accounts — China's Tencent Holdings (0700.HK) posted a 6% rise in first-quarter revenue on Tuesday, beating analyst expectations …

Discussion: Financial Times, Nikkei Asia, Wall Street Journal, South China Morning Post, Seeking Alpha, CNBC, Tech in Asia, @pandawatch88, @davideborall, @thetranscript_, @byjoshye, The Information, Bloomberg and Tencent

Priyanka.G / Reuters:

Tencent Music reports Q1 revenue down 3.4% YoY to $937M, profit up 27.5% YoY to $212M, music subscription revenue up 39.2% YoY to $501M, and 113.5M paying users — China's Tencent Music Entertainment Group (1698.HK), beat first-quarter revenue estimates on Monday, helped by steady growth …

Discussion: Tencent Music, Music Business Worldwide, Music Ally, Digital Music News, Billboard and Variety

Todd Spangler / Variety:

Comcast CEO Brian Roberts says Comcast will launch StreamSaver, a bundle with Peacock, Netflix, and Apple TV+, later this month at a “vastly discounted price” — Get ready for the next cable-like streaming bundle: Comcast later this month will launch a three-way bundle …

Discussion: The Streamable, Deadline, The Hollywood Reporter and 9to5Mac

Todd Spangler / Variety:

Roku gets exclusive multiyear rights for MLB's Sunday Leadoff live games, starting May 19, a package previously held by NBCUniversal's Peacock — Starting May 19, Roku will stream Sunday MLB games for free on the Roku Channel. The company also will launch a new MLB Zone to help baseball fans find live …

Neal Mohan / The Hollywood Reporter:

YouTube CEO Neal Mohan argues that creators should be eligible for Emmys, as the awards “should reflect what viewers are actually watching on their TV screens” — In the years ahead, the TV Academy could consider expanding their categories to cover the full range of entertainment.

Discussion: Ad Age, @davemorgannyc, Danielle Brown on LinkedIn, @tvgrimreaper, @tracytran, Michelle Goad on LinkedIn, @alexweprin, @jimstenman, Tubefilter and Fede Goldenberg on LinkedIn

Alex Weprin / The Hollywood Reporter:
Ahead of YouTube's Brandcast, three top creators talk about producing polished content to be viewed on TVs and how YouTube connects them with audiences at scale

Discussion: Jeremiah McMillan on LinkedIn, @mythical, @michellekhare, @michellekhare, @alexweprin, Lauren Verrusio on LinkedIn, Jacob Moncrief on LinkedIn and @alexweprin

Bron Maher / Press Gazette:

The New Yorker confirms blocking readers in the UK from reading an article about convicted child serial killer Lucy Letby, to comply with a UK court order — Witnesses in the case were unusually given anonymity without reasons of national security or a risk to life.

Jesse Whittock / Deadline:

Sony Pictures reports Q4 revenue up 1.1% YoY to ~$2.74B, profit up 75% YoY to $208M, and FY 2023 revenue up 1.7% YoY to ~$10.31B, weighed down by the strikes — Sony Pictures Entertainment has seen operating income fall nearly 10% for the fiscal year ended March 31, 2024.

Discussion: Variety, The Wrap and The Hollywood Reporter

Sarah Basford Canales / The Guardian:

An Australian court sentences ex-army lawyer David McBride to five years and eight months for stealing Afghanistan war docs and leaking them to Australia's ABC — McBride, who pleaded guilty to stealing commonwealth information and passing it to the ABC, receives non-parole jail term of 27 months

Charlotte Tobitt / Press Gazette:

Lawyer: the BBC will pay “substantial” compensation to Princess Diana's ex-chauffeur over “serious and unfounded” allegations made by Martin Bashir in 1995 — Martin Bashir told Princess Diana and her brother that Steve Davies “feeds Today newspaper”.

Discussion: Mediaite

New York Magazine:

Q&A with Walt Mossberg and YouTuber Marques Brownlee on tech reviews, handling pushback, YouTube, the issues with paid content, earning people's trust, and more — The two titans of tech reviewing talk shop with Kara Swisher. — Despite being two of the most influential tech reviewers ever …

Discussion: @karaswisher@threads.net, @mossbergwalt@threads.net and @mossbergwalt@threads.net, more at Techmeme »

Washington Post:

Some publishers worry about the impact of AI summaries in Google's Search Generative Experience; Raptive estimates some may lose up to 60% of their traffic — The tech giant is rolling out AI-generated answers that displace links to human-written websites, threatening millions of creators

Discussion: @jake_boly, @anyasipa, @bgrueskin, @carnage4life, @sarahhbickerton@mastodon.nz, @joeo10@mastodon.sdf.org and @acdha@code4lib.social, more at Techmeme »

Luke Harding / The Guardian:

An interview with the Kyiv Independent ex-Defense Correspondent Illia Ponomarenko about his new book on Russia's Ukraine invasion, social media, and more — Ahead of the publication of his raw account of the Russian invasion, the reporter talks about capturing the conflict in real time - and when the war will come to an end

Discussion: Associated Press

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More News:

Etan Vlessing / The Hollywood Reporter:
Lionsgate Studios, the company's film and TV studio business separated from Starz, will begin trading on the NASDAQ via SPAC on May 14, expecting to raise $350M

Discussion: @lavacreekvos and Lionsgate Studios

Sara Fischer / Axios:
Rumble sues Google, saying Google owes Rumble $1B+ in damages for lost ad revenue and for exploiting its ad tech dominance to hamper Rumble's ability to compete

Discussion: @sarafischer, @chrispavlovski, Reclaim The Net and Reuters, more at Techmeme »

Alexander Martin / The Record:
Hundreds of local and regional newspaper websites run by the UK's Newsquest were defaced on May 13 by a group calling itself “first-class Russian hackers”

Discussion: Alexander Martin on LinkedIn

Amber Neely / AppleInsider:
Apple News+ gets Offline Mode, which automatically downloads recent, personalized content for offline reading, and a new spelling game called Quartiles

Discussion: Engadget, 9to5Mac, @beep_roadrunner, @mattcassinelli, @baekdal and The Verge, more at Techmeme »

Jennifer Maas / Variety:
WGA East asks Vox Media to let employees at The Dodo and Thrillist merge into the Vox Media Union; Vox bought The Dodo and Thrillist parent Group Nine in 2021

Discussion: @jayasax, @maevedunigan, @jmrivera02 and @opheligarcia

Charlotte Tobitt / Press Gazette:
Le Monde in English, which makes up 10% of new Le Monde subscribers, hopes Paris Olympics and the US election will help reach 1M subscribers by the end of 2025

Santul Nerkar / New York Times:
Many student protesters say they value Al Jazeera's on-the-ground coverage, as many major Western media outlets have struggled to gain access to Gaza

Discussion: @dannassif, Foreign Policy, The New Arab, @mouradteyeb, @ednamohamed_, @structstories, @jpmarthoz, @anealla, @tonykaron, @joey_allaham, @thehowie, @hajiramirza, @dlepeska, @denniscearl and SPLICETODAY.com

Earlier Picks:

Bron Maher / Press Gazette:
Ian Hislop, editor of UK satirical and investigative magazine Private Eye for 38 years, on the privilege of editing as a job, being committed to print, and more

Discussion: @pressgazette, @jennyjamest and @sheronboyle1

Max Tani / Semafor:
Hunterbrook Media's publisher failed to disclose its ownership stake in a rival to a company that was recently the subject of a critical Hunterbrook article

Discussion: @maxwelltani, Rich Jaroslovsky on LinkedIn, The Overspill, Columbia Journalism Review and Talking Biz News

Lucas Shaw / Bloomberg:
Sources: Apple has met with Hollywood talent representatives to propose a new performance-based compensation regime, as Amazon and Netflix work on similar plans

Discussion: @markashtonlund, The Desk, Jin Ishimoto on LinkedIn, Avi Hakhamanesh on LinkedIn, The Streamable, @carnage4life, IndieWire, @plonf, @chordia22, @kellycwi, @lucas_shaw, The Wrap, 9to5Mac, The Information, @carnage4life@threads.net, @carnage4life@threads.net and @lucas_shaw@threads.net

Financial Times:
In a letter, the UK's News Media Association warns Apple that imposing a “web eraser” tool to block ads would threaten journalism's financial sustainability

Discussion: The Register, AppleInsider, Owen Meredith on LinkedIn, @LukaszOlejnik@mastodon.social, @popsarah and @parismarx@mastodon.online

Georgetown University:
Gabe Fleisher, the 22-year-old who has been writing the Wake Up To Politics newsletter since 2011, plans to expand his business after graduating from college

Discussion: Media Voices, @andria.bsky.social, @tomlobianco, @wakeup2politics, @wakeup2politics, @mctothstl, @chriscillizza and @lpdonovan

Sophie Culpepper / Nieman Lab:
Editors from four independent student newspapers discuss how they have approached covering US campus protests under immense pressure and a national spotlight

Discussion: Media Voices, Originally Reported …, Media Nation, @hannahpthacker, @zeynep, @vonklevi, @zeynep, @s_peppered, @editorrag, @spj_tweets, @s_peppered, @niemanlab, National Journal, TIME, Editor and Publisher and The New York Review of Books

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

Mark Gurman / Bloomberg:
How Tim Cook may navigate Trump's presidency, a closer look at Apple's upcoming smart home command center, sources detail a new AirTag coming in 2025, and more

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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