Sony says the company has no plans to submit a revised offer for Paramount Global as the deal "does not fit well with our strategy" (Ryan Browne/CNBC)
Mediagazer: Sony says the company has no plans to submit a revised offer for Paramount Global as the deal “does not fit well with our strategy” (Ryan Browne/CNBC)
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: Reuters, Business Wire, @pkafka, @sherman4949, TVNewsCheck, The Hollywood Reporter, Los Angeles Times and Deadline, more at Techmeme »
Discussion:
Business Wire: The Walt Disney Company Reports Third Quarter and Nine Months Earnings for Fiscal 2024
Peter Kafka /
@pkafka: “The good news is the Olympics are over in a couple weeks” says Disney CFO. (Disneyland Paris business has been slow, which Disney blames on the games.)
Alex Sherman /
@sherman4949: Disney says it is still having conversations with strategic partners for ESPN. These conversations have been going on for more a year now.
Alex Sherman /
@sherman4949: Disney CEO Bob Iger says the Disney streaming password sharing crackdown will begin in earnest in September.
Alex Weprin /
The Hollywood Reporter: Disney Turns a Profit in Streaming as Entertainment Income Soars
Samantha Masunaga /
Los Angeles Times: Disney's streaming business is profitable for the first time, but its parks unit lags
Jill Goldsmith /
Deadline: Ka-ching! Disney Turns Streaming Profit For First Time And Ahead Of Schedule
RELATED:
The Verge:
Disney CEO Bob Iger says the company's password sharing crackdown will kick off “in earnest” in September, after announcing paid sharing in February 2024— Disney Plus will soon no longer let you share your password with people outside your household.
Discussion:
@2xaught7.bsky.social, more at Techmeme »
Variety:
Disney says the “outcome of the Hulu deal arbitration is uncertain” and it might have to pay up to $5B more to complete the buyout of NBCUniversal's 33% stake— Dispute over fair value of Hulu entered arbitration in May 2024, according to Disney
Discussion:
The Wrap, The Information, Deadline and @tvgrimreaper
Discussion:
Lucas Manfredi /
The Wrap: Disney Could Pay Up to $5 Billion More for Comcast's Hulu Stake
Jill Goldsmith /
Deadline: No Surprise, Disney & NBCUniversal Disagree On Hulu Valuation With $5 Billion In The Balance
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:
Tony Maglio /
IndieWire: Disney Finally Turns a Profit at Streaming
Lucas Manfredi /
The Wrap: Disney Swings to First-Ever Combined Streaming Profit of $47 Million in Q3
New York Times:
The NYT reports adding 300K digital subscribers in Q2, for 10.8M in total, and digital ad revenue up 7.8% YoY to $79.6M; The Athletic losses fell to $2.4M— The publisher added about 300,000 digital subscribers in the latest quarter, and now has more than 10.8 million subscribers.
Discussion:
The Wrap, Bloomberg, @pkafka, @nkulw and @katie_robertson
Discussion:
Natalie Korach /
The Wrap: New York Times Adds 300,000 Digital Subs in Q2 as Total Revenues Rise 6% to $625 Million
Peter Kafka /
@pkafka: The New York Times has spent $3 million in legal fees suing Microsoft and OpenAI this year. For context: last year the paper earned $232 million in profits.
Noah Kulwin /
@nkulw: Monopolist paper that killed the competition and is rearranging its innards to be more stupid and facile all the time
Katie Robertson /
@katie_robertson: New: The New York Times added another 300,000 subscribers in the last quarter, now has almost 11 million total https://www.nytimes.com/...
RELATED:
The New York Times Company:
The NYT reports Q2 revenue up 5.8% YoY to $625.1M, subscription revenue up 7.3% YoY to $439.3M, and operating profit up 13.6% YoY to $104.7M— NEW YORK, August 7, 2024 - The New York Times Company (NYSE: NYT) announced today second- quarter 2024 results. Key Highlights
Discussion:
@tvgrimreaper
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:
9to5Mac, PhoneArena, @karissabe@threads.net and Engadget, more at Techmeme »
Discussion:
Ben Lovejoy /
9to5Mac: Some subreddits could be paywalled, hints Reddit CEO
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
RELATED:
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
Discussion:
Anthony Vargas /
AdExchanger: Reddit's Ads Biz Is Surging, But It's Still The Runt Of The Social Media Litter @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
RELATED:
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
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
Press Gazette:
GB News says it now has 10,000 paying members, after soft launching its membership scheme with £5, £10, or £20 per month tiers in November 2023— Broadcaster also says it has passed the 100 million monthly page views mark based on internal figures.
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
CNBC:
Sony says the company has no plans to submit a revised offer for Paramount Global as the deal “does not fit well with our strategy”— Sony's finance chief on Wednesday said the Japanese technology and media giant will not reconsider a fresh bid for film and TV production group Paramount Global.
Discussion:
Variety and The Hollywood Reporter
Discussion:
Todd Spangler /
Variety: Sony Officially Says It Won't Bid for Paramount Global to Counter Skydance Deal
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:
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”