Some Knight Foundation grantees detail funding issues, including long delays after approval, and say they've been told it is pausing most grants through H1 2025 (Richard J. Tofel/Second Rough Draft)

Mediagazer: Some Knight Foundation grantees detail funding issues, including long delays after approval, and say they've been told it is pausing most grants through H1 2025 (Richard J. Tofel/Second Rough Draft)

Top News:

CNBC:

Netflix reports Q3 revenue up 15% YoY to $9.83B, vs. $9.76B est., paid memberships up 14% to 282.72M, vs. 282.15M est., and net income of $2.4B; NFLX jumps 7%+— LOS ANGELES — Netflix posted third-quarter earnings Thursday that beat on the top and bottom lines as its advertising business continued to grow.
Discussion: Netflix, StreamTV Insider, Los Angeles Times, Benzinga, Motley Fool, Quartz, The Hollywood Reporter, Barron's Online, @lucas_shaw, @carnage4life@mas.to, Sarah Whitten on LinkedIn, AdExchanger, Financial Times, Thurrott, Business Insider, Adweek, Light Reading, Neowin, Deadline, The Streamable, Variety, Quartz, Forbes, The Verge, Wall Street Journal, Yahoo Lifestyle, Reuters, Deadline and New York Times, more at Techmeme »

Discussion:
Netflix: Fellow shareholders — In Q3, revenue grew 15% year over year and operating margin was 30% vs. 22% last year.

Daniel Frankel /
StreamTV Insider: Subscriber growth is nice, but Netflix poised to shift narrative to engagement

Samantha Masunaga /
Los Angeles Times: Netflix adds 5 million subscribers and beats Wall Street's profit expectations

Chris Katje /
Benzinga: Netflix ‘Should Continue To Outperform’: 6 Analysts On Streaming Stock's Q3 Earnings

Vinamrata Chaturvedi /
Quartz: The Dow drops 150 points while Netflix boosts the Nasdaq

Georg Szalai /
The Hollywood Reporter: Netflix Earnings Review: Stock Pop, More Price Target Hikes, But Also More Warnings

George Glover /
Barron's Online: Should You Buy Netflix Stock After Earnings?

Lucas Shaw /
@lucas_shaw: New: Netflix added about 5 million customers last quarter and beat Wall Street forecasts on pretty much every metric.

Dare Obasanjo /
@carnage4life@mas.to: Netflix's growth strategy of clamping down on password sharing while proving an ad-supported tier as an escape hatch has been an incredible success. — The company beat expectations on revenue, profits & new subscribers. The ad tier is helping as 50% of new sign ups are on that tier in the markets it's available. …

Sarah Whitten /
Sarah Whitten on LinkedIn: Netflix posted third-quarter earnings Thursday that beat on the top and bottom lines as its advertising business continued to grow. …

Victoria McNally /
AdExchanger: Netflix Predicts Ad Revenue Will Double Next Year

Daniel Thomas /
Financial Times: Netflix's third-quarter revenue and subscriber numbers beat expectations

Paul Thurrott /
Thurrott: Netflix Revenues Up 7.8 Percent to $8.5 Billion

Peter Kafka /
Business Insider: Netflix is rolling in cash. What a turnaround!

Saleah Blancaflor /
Adweek: Netflix Adds 5 Million Subscribers and Details 2 Big Ads Initiatives

Jeff Baumgartner /
Light Reading: Netflix beats Wall Street with 5.1M sub adds in Q3

John Callaham /
Neowin: Netflix added just over 5 million new subscribers in the third quarter of 2024

Jennifer Maas /
Variety: Netflix Adds 5 Million Paid Subscribers in Q3 to Reach 282 Million Globally

Bruce Gil /
Quartz: Netflix is serious about ads

Lindsey Choo /
Forbes: Netflix Earnings: Stock Climbs As Streaming Giant Beats Expectations—But Subscriber Growth Slows

Jessica Toonkel /
Wall Street Journal: Netflix Subscriber Growth Slows Amid Revenue Gains

Alexandra Canal /
Yahoo Lifestyle: Netflix earnings, subscriber growth top estimates as investors eye potential price hikes

Nicole Sperling /
New York Times: Netflix Adds 5 Million Subscriptions in Quarter

RELATED:
Reuters:

Netflix gained 5.1M new subscribers in Q3, vs. 4M est., and says more than 50% of signups were for its ad-supported tier in countries where it was available— Netflix (NFLX.O) picked up 5.1 million streaming subscribers in the third quarter, topping Wall Street estimates by more than 1 million …

Discussion:
MediaPost, Reuters, Quartz, Barron's Online, Business Insider, Euronews, The Media Leader, @reutersbiz, Associated Press, Observer, Forbes, Adweek, Bloomberg, StreamTV Insider, Capital Brief, The Times, Entrepreneur, RTÉ, The Wrap, The Desk, IndieWire, TVNewsCheck, Deadline and Advanced Television, more at Techmeme »

Discussion:

Reuters:
Netflix shares hit all-time high despite slowing subscriptions — here's why investors aren't worried Barron's Online: Netflix Is Winning the Subscriber Battle. Why It's Now Pressing the Mute Button and 5 Other Things to Know Today.

Shubhangi Goel /
Business Insider: Netflix just had a blockbuster quarter, and its Asia strategy had a big role to play in it @reutersbiz: Netflix picked up 5.1 million streaming subscribers in the third quarter, topping Wall Street estimates by more than 1 million, and said it expected higher customer growth around the holidays when Korean drama ‘Squid Game’ returns. More here: https://www.reuters.com/... [video]

Michael Liedtke /
Associated Press: Netflix's subscriber growth is slowing, but its profit and stock price are still surging

Alexandra Tremayne-Pengelly /
Observer: Netflix Added 5M Subscribers in Q3 Despite Lingering Effects of Hollywood Strikes

Brad Pareso /
Adweek: Netflix Adds 5.1M Subs, Details 2 Big Ads Initiatives

Bevin Fletcher /
StreamTV Insider: Netflix reports revenue, subscriber growth in Q3

Louisa Clarence-Smith /
The Times: Netflix beats expectations with 5m new subscribers

Sherin Shibu /
Entrepreneur: Is Netflix Raising Prices? Analysts Predict Yes as Company Posts Earnings

Lucas Manfredi /
The Wrap: Netflix Profits Surge 41% in Q3 to $2.36 Billion as Streamer Adds 5 Million Subscribers

Matthew Keys /
The Desk: Netflix adds 5 million global subscribers during Q3

Tony Maglio /
IndieWire: Netflix Added 5 Million Subscribers This Summer

Jill Goldsmith /
Deadline: Netflix Stock Ticks Up On Earnings Beat: Streamer Stresses Engagement As It Plans To Stop Reporting Quarterly Subscriber Numbers Next Year

Variety:
Netflix forecasts 2025 revenue of $43B-$44B, which would be 11%-13% higher than its 2024 guidance, and targets a 2025 operating margin of 28% vs. 27% in 2024

Discussion:

Tiernan Ray /
Fast Company: Netflix shares are up, but some analysts are concerned about the streamer

Peter White /
Deadline: Netflix Slams Rivals' Bundling Plans, Blames Strikes For “Patchier” Programming

Charley Blaine Amg-Thestreet /
Las Vegas Review-Journal: Netflix hints on when subscriber rates may rise

Greg McKenna /
Fortune: Netflix shares jump 11% on blowout earnings, studio touts return of Squid Game

Wayne Friedman /
MediaPost: Netflix' Strong 3Q Revenues, Ad-Options Gain. But Mixed Subscribers

Peter Kafka /
@pkafka: I wrote about how Netflix now makes $9 billion a year in profit - actual net income - and no one cares but a few year ago smart people thought they'd have trouble paying off their debt. https://www.businessinsider.com/ ...

Mansha Daswani /
WORLD SCREEN: Netflix Revenues Rise 15 Percent In Q3

Eric Fisher /
Front Office Sports: Netflix Shares Rise on Strong Earnings As Christmas NFL Games Lie Ahead

JesterAI /
Motley Fool: Netflix: Big Q3 Gains in Revenue, Margin

Caitlin Huston /
The Hollywood Reporter: Netflix Expects Programming Slate to Return to Normal in 2025 After Strike Disruption

CNN:

A federal judge issues a restraining order against Florida's surgeon general for threatening TV stations with criminal charges for airing a pro-abortion ad— New York CNN — — “To keep it simple for the State of Florida: it's the First Amendment, stupid.”

Discussion:
Reuters, Washington Post, Slate, Advocate, Fox News, The Week, NBC Bay Area, Techdirt, The Guardian, Tampa Bay Times, Reason, New York Times, Axios, Digby's Hullabaloo, @unbonfromage@threads.net, Florida Politics, New Republic, Mediaite, Joe.My.God., Raw Story, The Hill and Florida Phoenix

Discussion:

Brendan Pierson /
Reuters: Florida officials barred from threatening TV stations over abortion rights ads

Lori Rozsa /
Washington Post: Judge orders DeSantis administration to stop threats over abortion ads

Ryan Adamczeski /
Advocate: Florida judge chastises Ron DeSantis for threatening abortion ad: 'It's the First Amendment, stupid'

Peter Weber /
The Week: Florida ordered to allow pro-abortion rights ads

Danielle Abreu /
NBC Bay Area: Judge blocks Florida from threatening TV stations over abortion ad: 'It's the First Amendment, stupid'

Mike Masnick /
Techdirt: 'To Keep It Simple... It's the First Amendment, Stupid': Judge Slams Florida's Attempt To Censor Abortion Initiative Ads

Carter Sherman /
The Guardian: Judge slaps down Florida effort to ban abortion ad: 'It's the first amendment, stupid'

Lawrence Mower /
Tampa Bay Times: DeSantis officials must stop threatening TV stations over abortion ads, judge rules

Elizabeth Nolan Brown /
Reason: 'It's the First Amendment, Stupid': Federal Judge Slams Florida for Threatening TV Stations

Patricia Mazzei /
New York Times: Judge Orders DeSantis Administration to Stop Threats Over Abortion-Rights Ad

Sareen Habeshian /
Axios: Florida judge grants temporary restraining order over abortion measure ads

Tom Sullivan /
Digby's Hullabaloo: “It's the First Amendment, stupid”

Liam Reilly /
@unbonfromage@threads.net: “Chief U.S. District Judge Mark E. Walker of the Northern District of Florida granted a temporary restraining order against Florida's surgeon general after the state health department threatened to bring criminal charges against broadcasters airing the ad.” — Read my full story with @brianstelter for @cnn here: …

Gabrielle Russon /
Florida Politics: Judge grants restraining order to stop state's threats over pro-abortion ads

Michael Luciano /
Mediaite: Judge Brutally Smacks Down DeSantis Ban on Pro-Abortion Ad: 'It's the First Amendment, Stupid'

Joe Jervis /
Joe.My.God.: Federal Judge: DeSantis Can't Prosecute Outlets Over Abortion Ads, Rules “It's The First Amendment, Stupid”

Matthew Chapman /
Raw Story: 'It's the First Amendment, stupid': Federal court smacks down Ron DeSantis

Juliann Ventura /
The Hill: Judge issues temporary injunction against Florida health officials over abortion ad threats

Adweek:

Bloomberg launches a Weekend Edition to reduce churn; CPO Julia Beizer says the publisher has 740K subscribers, of which about 40% are from outside the US— The new editorial product will focus on the intersection of finance and culture, boosting weekend readership

Discussion:
Bloomberg and Talking Biz News

Discussion:

Katherine Bell /
Bloomberg: What to Expect in Bloomberg's New Weekend Edition

Chris Roush /
Talking Biz News: Bloomberg launches weekend edition

Pew Research Center:

Pew: 37% of Republicans and 38% of Democrats trust information from social media; 40% of Republicans and 78% of Democrats trust national news organizations— Republicans are now nearly as likely to trust the information that comes from social media sites as they are to trust information …

Second Rough Draft:

Some Knight Foundation grantees detail funding issues, including long delays after approval, and say they've been told it is pausing most grants through H1 2025— Looking at front-loading, an unannounced strategic review, and a hold on “prioritizing” new grants

Discussion:

Maribel Pérez Wadsworth /
Knight Foundation: Accelerating Philanthropy - An update from Maribel Pérez Wadsworth

Reconstitution /
Reconstitution, Inc. on LinkedIn: Oh Richard. From my seat at Reconstitution I've been ranting about all of this for years but on two completely different dimensions which you, Knight, Press Forward, and Newmark still miss. …

Markus Schöberl /
Markus Schöberl on LinkedIn: Nonprofit-expert Richard Tofel draws a scary picture of the US-industries largest funder of news organizations. …

Richard Tofel /
Richard Tofel on LinkedIn: Concerns about the front-loading of Press Forward, an unannounced strategic review and pause on new grants, and admitted administrative problems at the leading institutional funder of journalism. … Press Forward: Press Forward awards $20 million to 205 local news outlets - including one in every state - for their work closing persistent coverage gaps

Tom Davidson /
Editor and Publisher: Press Forward just sent us a message

Eric Deggans /
@edeggans@threads.net: So cool to see that the Press Forward initiative is helping uplift and preserve journalism with grants averaging $100,000 each to 205 newsrooms across the country, including the Independent Florida Alligator and Watermark in Florida. DETAILS: https://www.pressforward.news/ ...

CommonWealth Beacon:

A look at Melrose Update Robocast, a podcast generated using Google's NotebookLM and public documents and born of frustration with a Massachusetts news desert— Robocast creator calls it ‘an act of desperation’ with decline in local news — Stay in the know. — A NEW LOCAL PODCAST covering Melrose debuted this month.

Discussion:
Media Nation and Wired, more at Techmeme »

The Information:

LinkedIn woos publishers, testing a “News Banner” on its mobile app feed and a video ad program that sources say will earn Bloomberg and WSJ $2M+ each in 2024— As Facebook owner Meta Platforms has backed away from news, Microsoft's LinkedIn has leaned into it.

Discussion:

Constantine von Hoffman /
MarTech: LinkedIn: The marketer's guide

Rodrigo Brancatelli /
Rodrigo Brancatelli on LinkedIn: Check out this great article from The Information. At LinkedIn, our team is deeply committed to bringing top-tier news and insights to our members …

Catherine Taibi Autorino /
Catherine Taibi Autorino on LinkedIn: Our vision at LinkedIn is to connect Members with relevant professional news & knowledge from trusted sources. …

Dan Horowitz /
Dan Horowitz on LinkedIn: Great new post from The Information. Just one of the stats in the piece - The number of videos published to LinkedIn by publishers on a weekly basis …

Wired:

Inside the inaugural Culver Cup, a generative AI film competition sponsored by AWS and FBRC.ai giving filmmakers AI tools and three weeks to submit a short— Amazon is hosting AI filmmaking competitions. Meta is letting directors test Movie Gen. As tech companies develop new tools …

Discussion:
Todd Terrazas on LinkedIn

Press Gazette:

Jon Steinberg, CEO of UK magazine publisher Future, announces plans to step down in 2025 after a 12-month notice period; Steinberg joined in April 2023— Shares in magazine publisher Future plc dropped more than 10% on Friday morning after the company announced the departure …

Discussion:
London Stock Exchange, Investing.com, Bloomberg, The Times and The Media Leader

Discussion:

Benoit Berthelot /
Bloomberg: Future Plc Shares Drop After CEO Announces Departure

Jack Benjamin /
The Media Leader: Future CEO Jon Steinberg to depart

404 Media:

Hobbyists post the code for Redbox kiosk software online, and tinkerers have been probing how it works, sometimes repurposing abandoned machines to run Doom— The code that runs Redbox DVD rental machines has been dumped online, and, in the wake of the company's bankruptcy …

Discussion:
Gizmodo, @rysiek@mstdn.social and Ars Technica

Discussion:
@rysiek@mstdn.social: This would be a great story to use the word “hackers” in, to reclaim it for the community: — https://www.404media.co/...

Nieman Lab:

A year after its launch, The Guardian's European edition generates 15% of the company's pageviews, and one-time donations from European readers increased by 45%— After the launch of Guardian Europe, one-time donations from European readers increased by 45%.

Discussion: