Top News:
Michael M. Grynbaum / New York Times:
Oliver Darcy leaves CNN to launch Status, a newsletter akin to Puck, for $15/month or $150/year; CNN says the Reliable Sources newsletter is on summer hiatus — Oliver Darcy is starting a subscription-based news site dedicated to covering the media industry, joining a crowded field.
Discussion:
Status, Variety, @oliverdarcy@threads.net, @unbonfromage@threads.net, New York Post, Breitbart, @digiphile@threads.net, The Hollywood Reporter, @passantino@threads.net, The Wrap, @digiphile@threads.net, @bethanyshondark, @keitholbermann, Mediaite, @maxwelltani, @donie, Deadline, @donie, Associated Press, Barrett Media and Talking Biz News
Lara O'Reilly / Business Insider:
Email: the World Federation of Advertisers discontinues activities of its nonprofit, GARM, following X's antitrust lawsuit, but intends to contest X's claims — - The World Federation of Advertisers is ‘discontinuing’ the activities of the Global Alliance for Responsible Media.
Discussion:
Fox Business, MediaPost, The Guardian, Bloomberg, Wall Street Journal, The Verge, New York Post, Breitbart, New York Times, Engadget, Ars Technica, Sarah Kay Wiley on LinkedIn, Claire Atkin on LinkedIn, @mac_ryan_@threads.net, Quartz, @daveleebbg@threads.net, @catthekin@threads.net, @catthekin@threads.net, @renee.diresta@threads.net, Barrett Media, Arielle Garcia on LinkedIn, @lauren@mastodon …, @chronotope.aramzs.xyz, Lara O'Reilly on LinkedIn, @larakiara, @crumbler@threads.net, Ruben Schreurs on LinkedIn and Inside Radio, more at Techmeme »
Marianna Spring / BBC:
A look at the people behind Channel3Now, a crime news aggregator whose story wrongly blaming an asylum seeker for the Southport attack played a role in UK riots — What connects a dad living in Lahore in Pakistan, an amateur hockey player from Nova Scotia - and a man named Kevin from Houston, Texas?
Financial Times:
Sources: Google and Meta ran a pilot program in the US in May 2024 to target Instagram ads to teenagers on YouTube, which prohibits targeting ads to under-18s — Campaign on YouTube to boost Instagram's appeal to young people skirted search group's rules for marketing to under-18s
Discussion:
PRWeek, Engadget, TechRadar, New York Post, Quartz, The Information, Damien Geradin on LinkedIn, @rinze@paquita.masto.host, @KimPerales@toad.social, Ad Age, MediaPost, @riptari, Tim Ringel on LinkedIn, MEDIANAMA, Boing Boing, @ariellesgarcia, @ilumium@eupolicy.social, The Verge and Digiday, more at Techmeme »
Alex Sherman / CNBC:
Paramount reports Q2 revenue down 11% YoY to $6.81B vs. $7.21B est., its first ever streaming profit, of $26M, and a $5.98B impairment charge for cable networks — Paramount Global's second-quarter revenue dropped 11% and missed analyst estimates as licensing, TV advertising and cable subscription sales dropped.
Discussion:
The Wrap, The Streamable, IndieWire, Reuters, Variety, Next TV, Bloomberg, Los Angeles Times, The Hollywood Reporter, Deadline, Paramount and Deadline
CNN:
ABC says Trump and Harris have agreed to debate on September 10; at a press conference, Trump also says he has agreed to debate on Fox and NBC — Donald Trump and Kamala Harris are set to debate on ABC on September 10 after the former president said Thursday he had agreed to the faceoff, along with two others next month.
Discussion:
Variety, The Wrap, Mediaite, RADAR, Politico, Associated Press, Axios, CBS News, The Daily Beast, New York Post, Rolling Stone, The Hill, Deadline, New York Daily News, TVNewsCheck and Fox News
Andrew Marchand / New York Times:
Sens. Elizabeth Warren and Bernie Sanders and Rep. Joaquin Castro write to the DOJ asking to investigate Venu Sports and “oppose it if violates antitrust law” — Sens. Elizabeth Warren and Bernie Sanders and Rep. Joaquin Castro have sent a letter to the Department of Justice asking …
Arvind Dilawar / Drop Site News:
A freelance journalist claims the NYT failed to correct a story he co-wrote on antisemitism in Teaneck, NJ, after he found a source gave incorrect information — An elected official alleged an antisemitic break-in. Police say it didn't happen. — As a freelance journalist …
Discussion:
@derekjohnbryant, @malsaafin, @nkulw, @jbenmenachem, @jeremyscahill and @ryangrim
Kayla Cobb / The Wrap:
WBD CFO Gunnar Wiedenfels says NBA talks were a “triggering event” to reevaluate the company and take a $9.1B impairment charge, but were not the only factor — However, CFO Gunnar Wiedenfels notes the reevaluation wasn't “a response to one individual factor”
RELATED:
Jill Goldsmith / Deadline:
WBD reports Q2 revenue down 6% YoY to $9.7B, a $9.99B net loss, and takes a $9.1B impairment charge for networks; global streaming subs rose 3.6M to reach 103M
Discussion:
CNBC, StreamTV Insider, The Wrap, Variety, Next TV, Quartz, @michellef_davis, @firmreturns, @billbrewstertbb, The Media Leader, WORLD SCREEN, @sherman4949, @sherman4949, @sherman4949, Advanced Television, @annaknicolaou, @heetermaria, Yahoo Finance, CNBC, Sportico, Awful Announcing, Financial Times, Game Developer, Variety, Bloomberg, Los Angeles Times, The Streamable, The Hollywood Reporter, Warner Bros. Discoverey and IndieWire
New York Times:
Analysis: Truth Social is increasingly reliant on niche ad campaigns that target hard-core Trump fans and Christian conservatives, often with small ad budgets — Donald J. Trump's social network is increasingly relying on a niche of the ad market that caters to hard-core Trump fans and Christian conservatives for revenue.
Kayla Cobb / The Wrap:
Sony's anime streaming service Crunchyroll announces it has surpassed 15M monthly paid subscribers, up from 11M in July 2023 — The news comes after Sony reported a 10% increase in operating profit during its first fiscal quarter of 2024 — Crunchyroll, the Sony-backed streaming service dedicated …
Discussion:
Crunchyroll, Carter Hahnselle on LinkedIn, Next TV, TVNewsCheck, CNBC and The Streamable
Caitlin Huston / The Hollywood Reporter:
iHeartMedia reports Q2 consolidated revenue of $929M, up 1% YoY, an operating loss of $910M, up from $897M in Q2 2023, and podcast revenue up 8% YoY to $104.5M — The company also saw a wider net loss this quarter compared to last year. — Podcast revenue at iHeartMedia rose 8 percent …
Discussion:
Sportico, Front Office Sports, Inside Radio, iHeartMedia …, Radio & Television … and Barrett Media
Emma Roth / The Verge:
TikTok launches TikTok Spotlight, in-app hubs for movies and TV shows that add links to “applicable” videos with more info and where to watch, tested with Dune — TikTok will now create in-app hubs for movies and TV shows and place them directly on fan-made videos.
Discussion:
The Guardian, TechCrunch, Ad Age, TikTok, Digital Music News, Deadline, Variety, The Media Leader and The Hollywood Reporter, more at Techmeme »
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