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 (Alex Sherman/CNBC)

Mediagazer: 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 (Alex Sherman/CNBC)

Top News:

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

Discussion:

Oliver Darcy /
Status: Who We Are — Status is the new, definitive nightly briefing that informs readers …

Brian Steinberg /
Variety: Oliver Darcy, CNN's ‘Reliable Sources’ Critic, Exits

Oliver Darcy /
@oliverdarcy@threads.net: Some personal news, as they say: I am launching my own media venture, Status, which will chronicle the Fourth Estate, Hollywood, and Silicon Valley. The NYT's Michael Grynbaum has the story here: https://www.nytimes.com/...

Liam Reilly /
@unbonfromage@threads.net: While I'm crushed @oliverdarcy is leaving @cnn, I'm so stoked for Status, which I know will be a big hit — make sure you subscribe! I'm incredibly proud to have worked with you these last 1.5 years and will, of course, need regular updates regarding Mr. Albert's moods now that you won't be down the hall.

Alexandra Steigrad /
New York Post: CNN's ‘Reliable Sources’ reporter Oliver Darcy shockingly quits network

John Nolte /
Breitbart: Left-wing Censor Oliver Darcy out at CNN

Alex Howard /
@digiphile@threads.net: I watched @cnnreliablesources many Sunday mornings for over a decade, until @CNN canceled it in 2022. We're all media critics now, but the show & newsletter acted as a watchdog & conscience for the industry, profession, & trade, combining reported analysis with smart, sometimes tough interviews. …

Jon Passantino /
@passantino@threads.net: Incredibly proud of the tireless and brave work @oliverdarcy has done at CNN and Reliable Sources. Holding media executives to account, including those in your own house, is not for the faint of heart. I will miss our countless late nights stressing over every word in the newsletter, but thrilled for Oliver and his new venture status.news https://www.nytimes.com/...

Natalie Korach /
The Wrap: Oliver Darcy Departs CNN to Launch Independent Media Newsletter

Alex Howard /
@digiphile@threads.net: I'm sorry to hear @CNNReliableSources is going on hiatus — especially if that negatively affects journalists at CNN. The newsletter & show played a useful, informative, & sometimes important role in the U.S. media ecosystem under @BrianStelter & @OliverDarcy, who's launched a new endeavor.

Bethany S. Mandel /
@bethanyshondark: Did Oliver Darcy leave CNN and take the emails of everyone signed up for Reliable Sources with him? [image]

Keith Olbermann /
@keitholbermann: Well there goes one of the few useful reporters @cnn Oliver Darcy gone from Reliable Sources, starts own newsletter: https://variety.com/...

Max Tani /
@maxwelltani: New: @oliverdarcy is leaving CNN, launching a new media newsletter https://www.status.news/...

Donie O'Sullivan /
@donie: I had the privilege (and the headache) of sharing an office with @oliverdarcy some time back during a particularly rocky period for CNN. I can confirm he is the same absolute, unapologetic, pain-in-the-ass for all the right people in real life as he is in his newsletter.

Donie O'Sullivan /
@donie: We are going to miss this guy. No media reporter has done more in recent years to hold power to account — especially at their own company — than @oliverdarcy. Sign up to his new venture: https://www.status.news/ https://www.nytimes.com/...

Chris Roush /
Talking Biz News: CNN's Darcy departs to start his own newsletter

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:
MediaPost, The Guardian, 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, @renee.diresta@threads.net, Arielle Garcia on LinkedIn, @crumbler@threads.net, Ruben Schreurs on LinkedIn, @lauren@mastodon …, @chronotope.aramzs.xyz, Lara O'Reilly on LinkedIn, @larakiara, Fox Business and Inside Radio, more at Techmeme »

Discussion:

Colin Kirkland /
MediaPost: X Removes All Ads For Premium+ Subscribers Following GARM Shutdown

Kari Paul /
The Guardian: Advertisers axe corporate responsibility scheme after lawsuit from Musk's X

Elizabeth Lopatto /
The Verge: Ad group sued by Elon Musk reportedly disbands

Thomas Barrabi /
New York Post: Shadowy ad cabal GARM shuts down after Elon Musk's X files antitrust suit over censorship

Lucas Nolan /
Breitbart: A ‘Win for the First Amendent:’ GARM Shuts Down in the Wake of Elon Musk's Antitrust Lawsuit

Jon Brodkin /
Ars Technica: Ad industry initiative abruptly shuts down after lawsuit filed by Elon Musk's X

Sarah Kay Wiley /
Sarah Kay Wiley on LinkedIn: Using courts to bully and intimidate is straight out of the authoritarian playbook - especially when it concerns free expression and choice. …

Claire Atkin /
Claire Atkin on LinkedIn: UPDATE: The WFA has shut down the Global Alliance for Responsible Media. What does this mean? Did he win? It depends what his goal was. …

Ryan Mac /
@mac_ryan_@threads.net: Musk and X will parade this as a major victory for “free speech,” but we shouldn't forget how/why GARM was formed: to hold social platforms like Twitter and Facebook accountable after they were used to spread a 2019 video of a white nationalist's massacre of 51 people in Christchurch.

William Gavin /
Quartz: GARM, the so-called ‘advertising cartel’ sued by Elon Musk's X and Rumble, is shutting down

Dave Lee /
@daveleebbg@threads.net: Does this affect the lawsuit, though? GARM isn't a defendant — WFA + the companies are. You can't make a lawsuit go away by shutting down a department.

Claire Atkin /
@catthekin@threads.net: This is what is happening, in no particular order: A) a bunch of European advertisers don't want to deal with the Texas legal system B) they don't want to deal with Elon C) they don't want to have their brand safety decisions aired out in public no matter what they are There are no winners here. …

Claire Atkin /
@catthekin@threads.net: Definitey does not make the lawsuit go away. They are doing what they can to make it easier (I'm not sure that's the legal strategy I would have taken, personally)

Renee DiResta /
@renee.diresta@threads.net: This corporate sloganeering implies that monetization is something a company is owed, and that one platform is available for free expression. Both are bullshit. The alarming impact to free speech is that a congressman and oligarch are bullying others into association and compliance by chilling …

Arielle Garcia /
Arielle Garcia on LinkedIn: WFA's decision to shut down GARM is horrible news for advertisers, and for the communities they serve. …

Casey Newton /
@crumbler@threads.net: This is X (and Jim Jordan)'s version of “free speech”: bullying organizations out of existence for choosing not to associate with violence and hate speech https://www.businessinsider.com/ ...

Ruben Schreurs /
Ruben Schreurs on LinkedIn: This is a major setback for global progress towards a more responsible media industry. — Very sad news, but I understand the difficult decision made by the WFA. …

Lauren Weinstein /
@lauren@mastodon.laurenweinstein.org: After Musk lawsuit, tiny staff anti-hate advertising group closes down. — Musk is demanding that advertisers buy ads on X. — https://www.businessinsider.com/ ... [image]

Aram Zucker-Scharff /
@chronotope.aramzs.xyz: The WFA just tripping ass backwards but I guess GARM was always basically a cut out. It's just a shame they can't even stand up for their own declared ethics here. [embedded post]

Lara O'Reilly /
Lara O'Reilly on LinkedIn: SCOOP: The Global Alliance for Responsible Media's activities are being “discontinued.” — It comes after Elon Musk's X filed a lawsuit …

Lara O'Reilly /
@larakiara: Scoop: The World Federation of Advertisers told members on Thursday that it's discontinuing the Global Alliance for Responsible Media initiative following an antitrust lawsuit filed by Elon Musk's X against the company earlier this week https://www.businessinsider.com/ ...

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?

Discussion:

Mike Davies /
Mike Davies on LinkedIn: So finally, thanks to the diligence of BBC News, we have the full story of how an erroneous post by a small Anglo-American-Asian “news website” …

Chris Davies /
Chris Davies on LinkedIn: An excellent piece of investigative writing with a disturbing insight into how ‘journalism’ and spreading disinformation has become a lucrative industry.

Emma Martins /
Emma Martins on LinkedIn: Misinformation and disinformation are real, as are the consequences. — If anything good is to come from the terrible recent events …

Jean-Paul Marthoz /
Jean-Paul Marthoz on LinkedIn: Southpost and riots. Many politicians talk as if they had the power to control misinformation on social media which leads to violence. …

Harry Goodwin /
The Sun: Millionaire mum who ‘first spread’ false Southport asylum seeker claim says her life has been ‘destroyed’

Dan Johnson /
Dan Johnson on LinkedIn: Incredibly, “X” does NOT have a policy against publishing misinformation, and it is quite clear that it both encourages and monetises such activity. …

Tim Fairhurst /
Tim Fairhurst on LinkedIn: At Go Vilnius airport, reflecting on a week in #Lithuania with all its wonderful nature and thought-provoking 20th century history … @bbcnewsfeed@mastodonapp.uk: The real story of the news website accused of fuelling riots — The BBC tracks down a Canadian hockey player, a dad in Pakistan and a Texan named Kevin linked to Channel3Now. — https://www.bbc.com/... (c) #BBC #News

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 Streamable, IndieWire, Reuters, Variety, Bloomberg, Los Angeles Times, The Hollywood Reporter, Deadline, Paramount and Deadline

Discussion:

David Satin /
The Streamable: Paramount+ Drops 2.8 Million Subscribers to Land at 68 Million, but Made $26 Million in Profit

Tony Maglio /
IndieWire: And Now Paramount Has Lowered the Value of Its Cable Channels by $6 Billion

Dawn Chmielewski /
Reuters: Paramount Global writes down value of cable networks, posts first streaming profit

Brian Steinberg /
Variety: Paramount Takes $5.98 Billion Write-Down on Cable Networks in Q2 Tied to Skydance Deal While Streaming Turns First Profit Los Angeles Times: Paramount Global takes $6 billion writedown on cable business, continuing TV woes

Caitlin Huston /
The Hollywood Reporter: Paramount Plans Cost Savings Moves as Streaming Finally Hits Small Profit Deadline: Paramount Takes $5.98B Write-Down At Cable Networks Ahead Of Skydance Deal In Latest Big Media Damage From Linear TV

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:
Engadget, TechRadar, @ilumium@eupolicy.social, New York Post, Tim Ringel on LinkedIn, Quartz, The Information, MediaPost, Damien Geradin on LinkedIn, @rinze@paquita.masto.host, @KimPerales@toad.social, Ad Age, @riptari, MEDIANAMA, Boing Boing, @ariellesgarcia, The Verge and Digiday, more at Techmeme »

Discussion:

Allisa James /
TechRadar: Google and Meta reportedly skirting their own rules to ad target young teens, shows why tech giants cannot regulate themselves

Jan Penfrat /
@ilumium@eupolicy.social: In the latest episode of #BigTech fuckery, #Google & #Instagram made a “secret deal to target #ads for #Insta to #teenagers on #YouTube.” — This Google marketing campaign “deliberately targeted a group of [underage] users labelled as “unknown” [...] to ensure the true intent of the campaign was disguised.” …

Thomas Barrabi /
New York Post: Google, Meta hatched secret deal to target teens on YouTube with Instagram ads: report

Tim Ringel /
Tim Ringel on LinkedIn: In a world of infinite features, targeting options, available 1st and 3rd party data, AI enabled optimization strategies and highly incentivized sales reps …

Laura Bratton /
Quartz: Google and Meta ran a secret ad campaign targeting teens

Sylvia Varnham O'Regan /
The Information: Meta and Google Struck Ad Deal to Target Teens

Laurie Sullivan /
MediaPost: Google, Meta Reportedly Struck Secret Ad Deal To Target Teens

Damien Geradin /
Damien Geradin on LinkedIn: Another powerful illustration of Google and Meta's moral bankruptcy. Targeting teens to get them hooked to Instagram is particularly bad … @rinze@paquita.masto.host: “Google and Meta made a secret deal to target advertisements for Instagram to teenagers on YouTube, skirting the search company's own rules for how minors are treated online.” — 🔒 https://www.ft.com/... 🔓 https://archive.ph/ZtMxN

Kim Perales /
@KimPerales@toad.social: #Google worked on a marketing project for #Meta that was designed to target 13- to 17-yr-old YouTube users with adverts that promoted its rival's photo & video app. — The IG campaign DELIBERATELY TARGETED a group of users labelled as “unknown” in its ad system, which Google knew skewed towards: <18. …

Garett Sloane /
Ad Age: Google monopoly ruling—what advertisers need to know about the future of search @riptari: Google has all the data it needs to create self-serving ad-targeting proxies like “unknown”. The choice of label is also quite the troll https://www.ft.com/... [image]

Simone Lobo /
MEDIANAMA: Google monopolised search text ads, limited advertiser control: US Antitrust hearing

Rob Beschizza /
Boing Boing: Meta and Google secretly targeted kids with ads

Arielle Garcia /
@ariellesgarcia: So, while @google adamantly denied serving targeted ads on kids' videos, they were secretly working with opioid-pushing @PublicisGroupe's @SparkFoundryWW to help @Meta target kids. “Embrace the unknown” is disgusting. https://www.ft.com/... [image]

Jess Weatherbed /
The Verge: Meta and Google secretly targeted minors on YouTube with Instagram ads

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, New York Post, Rolling Stone, The Hill, Deadline, New York Daily News, TVNewsCheck and Fox News

Discussion:

Isaac Schorr /
Mediaite: Trump Says He's Agreed to Three Unconfirmed Debates With Kamala Harris on NBC, ABC and Fox News

Kelly Hartog /
RADAR: Trump Makes Debate U-Turn by Claiming He Wants 3 Debates Against Kamala Harris... As She Leads Him by Six Points in White House Race

Jared Mitovich /
Politico: Trump re-commits to debating Harris on ABC after backing out

Sareen Habeshian /
Axios: Trump backs down after bailing on debating Harris

Kathryn Watson /
CBS News: Trump and Harris will debate on Sept. 10, as Trump proposes two more dates

Nikki McCann Ramirez /
Rolling Stone: Trump Agrees to Debate, Rants About Harris During Unhinged Presser

Dominic Patten /
Deadline: Donald Trump Floats Three Potential Debates With Kamala Harris On Different Networks, Including ABC

Dave Goldiner /
New York Daily News: WATCH: Trump calls for three debates with Kamala Harris as Democrat rises in polls

Kevin Breuninger /
TVNewsCheck: Trump Challenges Harris To Debates In September On NBC, Fox & ABC

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 …

Discussion:

Dominick Mastrangelo /
The Hill: Warren, Sanders, Castro urge DOJ to probe joint streamed sports venture

David Satin /
The Streamable: Disney, Fox, Warner Bros. Discovery Have Collectively Invested Over $1.2 Billion in Venu Sports

Raymond McCain /
Cord Cutters News: The DOJ May Investigate Venu Sports, the Disney, Fox, & WBD Joint Venture

Alexandra Canal /
Yahoo Finance: Fox CEO: Venu Sports price of $42.99 ‘hits the right mark’

Anna Washenko /
Engadget: Senators Elizabeth Warren and Bernie Sanders call for an antitrust investigation into Venu Sports

Alyssa Boyle /
AdExchanger: WBD Latches Onto Global Expansion And Sports To Turn Around Revenue Losses

David Rumsey /
Front Office Sports: ESPN+ Leads Disney's Streaming to First-Time Profit Despite High Costs

Winston Cho /
The Hollywood Reporter: Lawmakers Target Disney-Fox-Warner Sports Streaming Platform Over Antitrust Concerns

Lucas Manfredi /
The Wrap: Bernie Sanders, Elizabeth Warren Urge Government to Investigate Venu Sports for Anti-Competitive Model

Lauren Feiner /
The Verge: Senators want an investigation of the Fox-Disney-Warner Bros. sports bundle

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”

Discussion:

Tim Baysinger /
@tim_bays: So far, none of the analysts buy that WBD isn't losing the NBA, despite their lawsuit WBD execs refusing to even entertain that possibility on this call, which could be interpreted as willful blindness

RELATED:

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, @annaknicolaou, @heetermaria, Advanced Television, Yahoo Finance, CNBC, Sportico, Awful Announcing, Financial Times, Game Developer, Bloomberg, Los Angeles Times, The Streamable, The Hollywood Reporter, Warner Bros. Discoverey, IndieWire and Variety

Discussion:

Alex Sherman /
CNBC: Pressure mounting on Warner Bros. Discovery CEO David Zaslav to deliver value for shareholders

Bevin Fletcher /
StreamTV Insider: Warner Bros. Discovery takes $9B TV networks impairment charge in Q2

Lucas Manfredi /
The Wrap: Warner Bros. Discovery Stock Plunges Over 11% After Taking $9.1 Billion Impairment Charge on Linear TV Networks

Todd Spangler /
Variety: Warner Bros. Discovery Stock Crumples to All-Time Lows After Huge Q2 Impairment Charge

Rocio Fabbro /
Quartz: Warner Bros. Discovery stock plunged after revealing a $9.1 billion impairment charge

Michelle F. Davis /
@michellef_davis: Yikes. Warner Bros Discovery just said it's taking a $9.1 billion charge and writing off the value of its traditional TV networks after concluding that cable isn't worth what it was just 2 years after the $42 billion Discovery/WarnerMedia merger. $WBD @firmreturns: Couple of positive takeaways from $WBD Q2 earnings to offset the negatives: 1. They're not breaking it up despite the rumours. 2. DTC is growing nicely: ad revenue up nearly 100% yoy, 3.6m new subs, and $8.00 ARPU. Could be looking at double-digit DTC sub growth for full year.

Bill Brewster /
@billbrewstertbb: WBD is, has been, and will always be uninvestable because Zaslav is a rent seeker. How did he lose the NBA? And how didn't he spend enough on House Of The Dragon?! HOD was good btw... The guy doesn't build. He buys and milks. Good game when you own distribution. Not so good

Mansha Daswani /
WORLD SCREEN: $10 Billion Loss For Warner Bros. Discovery

Alex Sherman /
@sherman4949: Just your normal $10.2 billion quarterly operating loss for Warner Bros. Discovery. (To put that in perspective, the entire market cap of Warner Bros Discovery is about $18 billion).

Alex Sherman /
@sherman4949: “The consumer experience right now is not good,” WBD CEO David Zaslav says of streaming in general.

Anna Nicolaou /
@annaknicolaou: WBD says their TV channels are worth $9bn less than they were just 2 years ago. feels like a moment for the end of cable television

Maria Heeter /
@heetermaria: 🚨+📺+ 💸 = ☹️ Warner Bros Discovery reports nearly $10BN loss The co weighed a breakup in a bid to raise its sinking share price, but has since concluded that this is not the best option at this time, per @FT @annaknicolaou https://www.ft.com/... [image]

Alexandra Canal /
Yahoo Finance: Warner Bros. Discovery sinks after taking massive $9.1 billion impairment charge on its cable business

Lillian Rizzo /
CNBC: Warner Bros. Discovery stock falls as it writes down $9.1 billion, misses estimates

Anthony Crupi /
Sportico: WBD Takes $9.1B Impairment Charge as NBA Hopes Fade

Sean Keeley /
Awful Announcing: Warner Bros. Discovery stock freefalls over $9.1 billion charge, uncertainty around sports rights renewals

Justin Carter /
Game Developer: Report: WB Discovery looking to sell off games, other divisions to prevent total breakup

Hannah Miller /
Bloomberg: Warner Bros. Shares Tumble on $9.1 Billion TV Network Writedown

Meg James /
Los Angeles Times: Warner Bros. Discovery takes $9-billion write-down from TV networks amid struggles

Matt Tamanini /
The Streamable: Warner Bros. Discovery Climbs Over 103.3 Million Streaming Customers Amidst Disastrous Financial Quarter

Etan Vlessing /
The Hollywood Reporter: Warner Bros. Discovery Takes Major Impairment Charge Over Linear TV While Streaming Makes Minor Gains

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

Discussion:

Derek Bryant /
@derekjohnbryant: “In a decade of being a full-time freelance journalist, I have personally never come up against the kind of opposition I've experienced trying to cover the reverberations of the ongoing Israeli genocide in Gaza.”

Mohammad Alsaafin /
@malsaafin: “The way the reporting and editing process unfolded next was a window into how politically convenient claims make their way into the paper of record without corroboration—and stay in despite contradictory evidence.”

Noah Kulwin /
@nkulw: Look at my New York Times dawg [image]

Jon Ben-Menachem /
@jbenmenachem: I really struggle to see another mainstream, ‘objective’ print outlet ignoring reportable material like this. [image]

Jeremy Scahill /
@jeremyscahill: New at @DropSiteNews: “I reported a piece for the New York Times on antisemitism. I found a major error, but the Times didn't care” https://www.dropsitenews.com/ ... Story by Arvind Dilawar

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.

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

Discussion:

Carter Hahnselle /
Carter Hahnselle on LinkedIn: 15m subs!!! Proud to say I that was here WAYYYY back when we were celebrating 500k! — https://lnkd.in/...

Jack Reid /
Next TV: Crunchyroll Surpasses 15 Million Subscribers

Jack Reid /
TVNewsCheck: Crunchyroll Surpasses 15 Million Subscribers

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:
Inside Radio, iHeartMedia …, Radio & Television … and Barrett Media

Discussion:

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:
TechCrunch, Ad Age, TikTok, Digital Music News, Deadline, Variety, The Media Leader and The Hollywood Reporter, more at Techmeme »

Discussion:

Lauren Forristal /
TechCrunch: TikTok partners with Warner Bros. to become a discovery engine for TV and movies

Gillian Follett /
Ad Age: The top 5 brand TikToks you need to know about right now

Ashley King /
Digital Music News: What is TikTok Spotlight? A New Promo Tool For Media Marketing Emerges — With Film & TV Studios the Initial Targets

Jill Goldsmith /
Deadline: TikTok Debuts New Tool For Hollywood To Drive Engagement, Says “Studios Will Never Miss Another Opportunity”

Todd Spangler /
Variety: TikTok Launches ‘Spotlight’ to Let Entertainment Marketers Tap Into Fan Content; Warner Bros. Touts Results of ‘Dune 2’ Campaign

Jack Benjamin /
The Media Leader: TikTok launches Spotlight promotional solution

Caitlin Huston /