Disney reports Q3 revenue up 4% YoY to $23.2B, operating income up 19% YoY to $4.2B, DTC revenue up 15% YoY to $6.4B, and a $47M DTC profit as Disney+ grows (Todd Spangler/Variety)

Mediagazer: Disney reports Q3 revenue up 4% YoY to $23.2B, operating income up 19% YoY to $4.2B, DTC revenue up 15% YoY to $6.4B, and a $47M DTC profit as Disney+ grows (Todd Spangler/Variety)

Top News:

Variety:

Disney reports Q3 revenue up 4% YoY to $23.2B, operating income up 19% YoY to $4.2B, DTC revenue up 15% YoY to $6.4B, and a $47M DTC profit as Disney+ grows— Company warns weak theme park demand could extend into the ‘next few quarters’ … That said, there were some mixed emotions …
Discussion: Business Wire and Deadline, more at Techmeme »

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CNBC:

Disney reports Disney+ Core subscribers up 1% YoY to 118.3M and its combined streaming business turned a profit, a first, but without ESPN+ reported a $19M loss— WATCH NOW — Disney reported its fiscal third-quarter earnings Wednesday, topping analyst estimates as its combined streaming …

Discussion:
RTÉ

CNBC:
Starting October 17, Disney will raise the cost of most plans for Disney+, Hulu, and ESPN+ by $1 to $2 more per month, as it pushes customers to bundles

Discussion:
The Hollywood Reporter, Advanced Television, PhoneArena, Axios, TechRadar, Kotaku, Decider, The Hill, Deadline, Cord Cutters News, New York Post, Ars Technica, The Streamable, Engadget, New York Daily News, IndieWire, Quartz, CNN, 9to5Mac, Digital Trends, The Desk, BGR, TVLine, @2xaught7.bsky.social, Variety, Bloomberg and Consequence

Discussion:

Kelly Tyko /
Axios: Disney hiking prices for Hulu, ESPN+ and Disney+

Jacob Krol /
TechRadar: Get ready - Disney Plus, ESPN Plus, and Hulu are all getting more expensive - here's what you need to know

Zack Zwiezen /
Kotaku: Disney+ Gets Another Price Increase, Will Cost Twice As Much As It Did In 2019

Radhamely De Leon /
Decider: Disney Hikes Monthly Cost Of Disney+ To $16 As It Also Raises Prices For Hulu, ESPN+ And Streaming Bundles

Lauren Irwin /
The Hill: Disney ups streaming costs for Disney+, Hulu and ESPN+

Jill Goldsmith /
Deadline: Disney To Raise Prices On Most Streaming Plans This Fall

Alexandra Steigrad /
New York Post: Disney hikes streaming prices for Hulu, Disney+ and ESPN+

Scharon Harding /
Ars Technica: “So tired”: Disney+, Hulu, ESPN+ prices increase by up to 25 percent in October

David Satin /
The Streamable: Canceling Disney+, Hulu or ESPN+ Ahead of Price Increases? What Are the Best Alternatives?

Samantha Delouya /
CNN: Disney hikes price for Disney+, Hulu and ESPN+ subscription services

Chance Miller /
9to5Mac: Disney+, Hulu, and ESPN+ are all getting more expensive

Phil Nickinson /
Digital Trends: Get ready to pay for more Disney+, Hulu, and ESPN+

Jacob Siegal /
BGR: Disney+, Hulu, and ESPN+ are raising prices again in October

Ryan Schwartz /
TVLine: Disney+ and Hulu Reveal Major Price Increases — Here's How Much It'll Cost You to Stream Without Ads

Todd Spangler /
Variety: Disney Hiking Prices Across All Disney+, Hulu and ESPN+ Stand-Alone Plans and Most Bundles

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 …

Discussion:
PhoneArena, @karissabe@threads.net and Engadget, more at Techmeme »

Discussion:

Tsveta Ermenkova /
PhoneArena: Reddit to experiment with AI-powered search results and paid subreddits

Karissa /
@karissabe@threads.net: On reddit's earnings call just now, Steve Huffman says the company will begin testing new AI-powered search results later this year. “Later this year, we will begin testing new search result pages powered by AI to summarize and recommend content, helping users dive deeper into product, shows, games and discover new communities on Reddit.”

Karissa Bell /
Engadget: Reddit CEO teases AI search features and paid subreddits

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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:

Discussion:
@jonathan_vanian_1@threads.net: Reddit COO Jen Wong says Ad market is “stable.” But, “there are real election jitters. We did see some pauses in the UK around the [recent] election. We saw pauses around times of Trump rally shooting. So I think there's a lot of caution. …

Gordy H. /
Gordy H. on LinkedIn: Reddit, Inc. announced Q2 Earnings today and the results were stellar! 🚀 — Highlights Include: —Both users and revenue grew over 50% …

Martin Peers /
The Information: Reddit Reports 54% Revenue Growth in Q2

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:
TVNewsCheck, Sports Media Watch and USA Today

Discussion:

Blake Schuster /
USA Today: Charles Barkley won't retire from TV after all, because of course he never was going to

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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 …

Discussion:
Pressroom, New York Times, 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

Discussion:

Andrew Marchand /
New York Times: The eye-popping $77 billion haul that shook up the NBA landscape — and the future of media Fox News: Charles Barkley reverses retirement decision, vows to stay with TNT long-term: ‘This is the only place for me’

Brian Steinberg /
Brian Steinberg on LinkedIn: NEW: Charles Barkley backs off retirement plans, says he will stay with Warner Bros. Discovery and looks beyond looming loss of NBA rights.... …

Chuck Schilken /
Los Angeles Times: Charles Barkley isn't retiring or joining another network. TNT ‘is the only place’ for him

Mike D. Sykes /
USA Today: 5 things (NHL!) Charles Barkley can still do with TNT when Inside the NBA leaves the network

Andrew Marchand /
New York Times: Charles Barkley not retiring, staying with TNT Sports long term: ‘This is the only place for me’

Jason Clinkscales /
Sportico: Charles Barkley ‘Reaffirms’ Long-Term Commitment to WBD

Liam Reilly /
CNN: Charles Barkley cancels his retirement plans, says he'll stay with TNT Sports for long term

Nellie Andreeva /
Deadline: Charles Barkley Will Stay With TNT Sports “For Years To Come” In Retirement Plans Reversal

Ben Axelrod /
Awful Announcing: Charles Barkley cancels retirement to remain with TNT Sports long-term

Dave Nemetz /
TVLine: Charles Barkley Walks Back Retirement Decision as Warner Bros. Discovery Fights to Retain NBA Games

Michael McCarthy /
Front Office Sports: Charles Barkley Un-Retires From TV, Says He's Staying With TNT

Ryan Glasspiegel /
New York Post: Charles Barkley does about-face on TV retirement with TNT commitment

Lucas Manfredi /
The Wrap: Charles Barkley Cancels Retirement, Commits to TNT Sports for ‘Years to Come’

Alex Sherman /
CNBC: Charles Barkley commits to staying at Warner Bros. Discovery's TNT Sports no matter what happens to NBA

Peter Sblendorio /
New York Daily News: Charles Barkley nixes plan to retire, confirms long-term commitment to TNT Sports

Reuters:

IAC reports Q2 revenue down 15% YoY to $949.5M and profit up 24% YoY to $87.3M; Dotdash Meredith reports revenue up 3% YoY to $425.2M and ad revenue up 16% YoY— IAC (IAC.O) posted a 24% rise in its core profit in the second quarter, banking on advertising and licensing revenues of Dotdash Meredith, its biggest business.

Discussion:

Ray Schultz /
MediaPost: Dotdash Meredith Grew Its Digital Revenue By 12% In Q2

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 »

Discussion:

Kosaku Narioka /
Wall Street Journal: Sony Boosts Guidance as Profit Rises on Strength of Game, Music, Sensor Businesses

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 …

Discussion:

Catherine Perloff /
@catherineperlo1: Scoop: Netflix is lowering ad prices again as the steaming landscape becomes more competitive. We also have details of the streamer's upcoming launch with The Trade Desk. https://www.adweek.com/... AdExchanger: Netflix Brings Its Sky-High Ad Prices Down (A Smidge); X Sues GARM Over Lost Ad Revenue

Gabriela Domanico /
Gabriela Domanico on LinkedIn: This summer, Netflix is partnering with ad tech firms like The TradeDesk , Google's Display & Video 360, and Magnite, offering programmatic inventory with floors as low as $15 for a 10-second ad. …

Catherine Perloff /
Catherine Perloff on LinkedIn: Scoop: Netflix is further lowering their ad prices, as competition in streaming advertising heats up. …

Mark K. Miller /
TVNewsCheck: LMC's NewsPassID Ad Network Releases New Local News Ad Buying Solutions

Jamie Harris /
The Sun: Sky customers ‘not happy’ as their Netflix subscription is changing to include ads - check account now

Tim Peterson /
Digiday: Future of TV Briefing: The 2024 glossary

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

Discussion:

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 …

Discussion:
Yahoo Finance, Bloomberg Law, Deadline, Bloomberg, IndieWire, The Streamable, Next TV and Deadline

Discussion:

Brendan Coffey /
Yahoo Finance: Fubo Q2 Results Lifted by Baseball, Soccer; CEO Hits Venu

Chris Dolmetsch /
Bloomberg Law: Fox-Warner-Disney Sports Streamer Should Be Blocked, Fubo Argues

Dade Hayes /
Deadline: Disney-Fox-WBD Sports Streaming Venture Has One Major Advantage, Fubo CEO David Gandler Testifies: “Price Is King”

Chris Dolmetsch /
Bloomberg: Fox-Disney Sports JV Is the ‘Last Straw,’ Fubo CEO Testifies

Tony Maglio /
IndieWire: Why Does Venu Sports Want to Self-Destruct in 9 Years?

David Satin /
The Streamable: Fubo Wants an Injunction to Create Venu-Like Packages; What Would They Look Like if It Could?

Daniel Frankel /
Next TV: Fubo Begins Preliminary Injunction Quest Against Venu Sports as Antitrust Suit's Hearings Begin

Dade Hayes /
Deadline: Disney, Fox & Fubo Lawyers Clash In NY Court As Venu Sports Antitrust Lawsuit Goes Before Judge

RELATED:

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

Discussion:
@fubotv_pr, Fubo, Media Play News, The Streamable, Advanced Television and Cord Cutters News

Discussion:
@fubotv_pr: Fubo Closed Q2 2024 With 26% Year-over-Year Revenue Growth, 24% Year-over-Year Subscriber Growth and Exceeded Guidance in North America; Global Business Achieved 6th Consecutive Quarter of Year-over-Year Improvement in Profitability Metrics https://www.businesswire.com/ ... Fubo: Fubo Closed Q2 2024 With 26% Year-over-Year Revenue Growth, 24% Year-over-Year Subscriber Growth and Exceeded Guidance in North America; Global Business …

Erik Gruenwedel /
Media Play News: Fubo Ups Q2 Online TV Subs 24% to 1.45 Million, Narrows Fiscal Loss 50%

David Satin /
The Streamable: Fubo Falls to 1.45 Million Paid Users in North America, Posts 26% Year-Over-Year Revenue Increase

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

Discussion:

Michael Socolow /
@michaelsocolow: It's not even 12 noon, and the cuts in the media & journalism industry today are astonishing. -Tampa Bay Times cuts 20%. -Axios fires 50 people, last day this Friday. -Broadcasting & Cable magazine - the bible of the industry - to cease publication. This is bad. Real bad.

Joe Flint /
@jbflint: Broadcasting & Cable Mag, which made its debut in 1931 as Broadcasting Magazine, is officially no more. Media reporters that started there include John Lippman (former LAT & WSJ), David Crook (former LAT/WSJ) and @Variety_Cynthia. It was considered the bible of TV and radio. RIP

Bob Gold /
Bob Gold on LinkedIn: Bye-bye Multichannel News, Broadcasting & Cable and Next TV magazines and newsletters - alas! I knew ye well. …

Todd Spangler /
Variety: TV Industry Trade Outlets Broadcasting & Cable, Multichannel News Are Shutting Down

Stephen Battaglio /
Los Angeles Times: Veteran TV trade journal Broadcasting + Cable is shutting down, in a sign of the times for media

Alex Weprin /