Top News:
Lauren Forristal / TechCrunch:
Reddit says it plans to test AI-powered search result pages later in 2024, using a combination of first-party and third-party tech to power the feature — Reddit users will soon see AI-generated summaries at the top of search results. — Reddit co-founder and CEO Steve Huffman told investors during …
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PhoneArena, Engadget and @karissabe@threads.net, more at Techmeme »
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Jonathan Vanian / CNBC:
Reddit reports Q2 revenue up 54% YoY to $281.2M, vs. $254M est., Daily Active Uniques up 51% YoY to 91.2M, and net loss down from $41.1M in Q2 2023 to $10.1M — Reddit reported second-quarter results on Tuesday that topped analysts' estimates. — Here are the key numbers:
Wall Street Journal:
Sources: the NBA's deal with Amazon has several provisions that WBD can't match, including promotion of the NBA during Amazon's NFL streaming telecasts — League's media deal with tech giant included provisions Warner couldn't match, setting stage for legal fight
Discussion:
Sports Media Watch and USA Today
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Brian Steinberg / Variety:
Charles Barkley, a mainstay of TNT's Inside the NBA, reverses plans to retire and says he will keep working with WBD, which is fighting to keep NBA media rights — Charles Barkley says he isn't getting out of Warner Bros. Discovery's sports game. — The roundball great …
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New York Times, Pressroom, Fox News, Brian Steinberg on LinkedIn, Los Angeles Times, Awful Announcing, USA Today, New York Times, Sportico, CNN, Deadline, Associated Press, Awful Announcing, TVLine, Front Office Sports, New York Post, The Wrap, CNBC, Barrett Media, New York Daily News and The Hollywood Reporter
Jesse Whittock / Deadline:
Sony Pictures reports Q1 revenue down 7% YoY to $2.2B and operating income down 36% YoY to $73M, despite strong movie debuts and streaming subscriber growth — Sony Pictures Entertainment posted first quarter operating income of $73M, down over 36% year-on-year on a U.S. dollar basis.
Discussion:
CNBC, Wall Street Journal and Bloomberg, more at Techmeme »
Catherine Perloff / Adweek:
Some ad buyers say Netflix is now charging CPMs between $20 and $30, after originally seeking $65 in 2022 and a reported $39 to $45 in 2023 — The streaming platform initially came to the market with $65 CPMs in 2022 — Netflix is further lowering the prices of its ads …
Winston Cho / The Hollywood Reporter:
Division in Hollywood's approach to AI is growing, as some studios want to use AI tools more often in production, while unions aim to establish guardrails — While unions aim to establish guardrails and artists are going to court, studios are looking to use AI tools more often in production.
Discussion:
TVNewsCheck
Joe Lucia / Awful Announcing:
Fubo's CEO blasts Venu, the Disney/Fox/WBD sports JV, saying it gives them control of 80% of the premium market and curbs competition, as he seeks an injunction — The new Fubo logo. — Fubo's earnings call was on Tuesday. Unsurprisingly, CEO David Gandler used part of his opening remarks …
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Yahoo Finance, Bloomberg Law, Deadline, Bloomberg, IndieWire, The Streamable, Next TV and Deadline
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Etan Vlessing / The Hollywood Reporter:
FuboTV reports Q2 North America revenue up 26% YoY to $383M vs. $368M est., North America paid subscribers up 24% to 1.45M, rest of world revenue up 2% to $8.3M
FuboTV reports Q2 North America revenue up 26% YoY to $383M vs. $368M est., North America paid subscribers up 24% to 1.45M, rest of world revenue up 2% to $8.3M
Discussion:
Fubo, @fubotv_pr, Media Play News, The Streamable, Advanced Television and Cord Cutters News
Sara Fischer / Axios:
X sues the World Federation of Advertisers, GARM, Mars, Unilever and others over what Linda Yaccarino calls an illegal boycott; Rumble also sues WFA and others — Members include major tech companies, advertisers, agencies, ad tech firms and advertising coalitions.
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Lauren Forristal / TechCrunch:
Amazon Music debuts Topics, which helps users find podcast episodes by topic and is powered by both AI and humans — Amazon Music announced Tuesday the launch of its new AI-powered feature, “Topics,” which allows users to explore podcast episodes by specific topics discussed in the episode.
Discussion:
About Amazon and The Verge, more at Techmeme »
Next TV:
Future plans to end Broadcasting & Cable, Multichannel News, and NextTV in print and as newsletters, replacing them with one newsletter and revamping NextTV.com — By B+C Staff( Broadcasting & Cable ) published — Charlie Weiss will take on chairman role for B+C Hall of Fame, with Bill McGorry moving into chairman emeritus role
Katie Robertson / New York Times:
Internal memo: Axios CEO Jim VandeHei says the company is laying off about 50 employees, or ~10% of the company, due to “changes in the media business” — Jim VandeHei, the company's chief executive, said in an email that the cuts were necessary to adapt to “changes in the media business.”
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The Wrap, @samueljrob, @selenesanfelice, @loopemma, @daniellealberti, @smtology, @danprimack, @ryanabest, @sophiacai99, @tim_bays, @ruhlmuk, @simranparwani, @tblysik, @mac_ryan_@threads.net, @geomoriarty@threads.net, @sarafischer, @loopemma, @nickicamberg, @simranparwani, @daniellealberti, The Hill, Fast Company, @justinbaragona, New York Post, @jdawsey1, @sopandeb, @chrisjollyhale, @billygribbin, @keitholbermann, @redsteeze, @ethanscorey, @ethangach, @chaykak, @brandyljensen, @benkesslen, Fox Business, @chriscillizza, @mikebrice, @katie_robertson, Erin Hulliberger on LinkedIn, Deadline, Nieman Lab, @aulia@threads.net, TVNewsCheck and Barrett Media
Jake Offenhartz / Associated Press:
The NYPD arrests independent videographer Sam Seligson on felony hate crime charges after he documented a pro-Palestinian protest in June — A New York City journalist was arrested on felony hate crime charges Tuesday after filming a pro-Palestinian protest earlier this summer …
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AM New York, @joshuaphilll, @joeyneverjoe, The Desk, @petersterne, @akoseff, @petersterne, @ashagony, @AnarchoNinaAnalyzes …, @porican, @lailaalarian, @jljacobson, ARTnews, New York Post, @phoebe@sunny.garden, New York Daily News, @rustoleumlove@mastodon.online and @freedomofpress@newsie.social