Spotify reports Q3 revenue up 19% YoY to €3.99B, vs. €4.02B est., MAUs up 11% to 640M, and forecasts Q4 profit and MAUs above est.; SPOT jumps 8%+ after hours (Jaspreet Singh/Reuters)
Mediagazer: Spotify reports Q3 revenue up 19% YoY to €3.99B, vs. €4.02B est., MAUs up 11% to 640M, and forecasts Q4 profit and MAUs above est.; SPOT jumps 8%+ after hours (Jaspreet Singh/Reuters)
Top News:
Wall Street Journal:
Sources: Disney board members are exploring fresh candidates in their search for a successor to Bob Iger, including EA CEO Andrew Wilson— Disney board members are considering outsiders including the CEO of videogame company Electronic Arts — Disney is exploring fresh candidates …
Discussion: New York Post, TVNewsCheck, Benzinga, Variety, The Wrap, Deadline, @dylanbyers, @alexweprin, Cord Cutters News and @mediaevan
Discussion:
Alexandra Steigrad /
New York Post: Disney broadens CEO search to external candidates to find Bob Iger's successor
Anusuya Lahiri /
Benzinga: Who Will Succeed Disney CEO Bog Iger?
Todd Spangler /
Variety: Disney Expands CEO Search to Outside Candidates Including EA's Andrew Wilson
Lucas Manfredi /
The Wrap: Disney Expands CEO Search to External Candidates, Including EA's Andrew Wilson
Dylan Byers /
@dylanbyers: Disney's search for Bob Iger's successor includes Electronic Arts C.E.O. Andrew Wilson, per @WSJ ... In 2022, I reported that Comcast had talked to Wilson about spinning off NBCUniversal, merging it with EA, and putting Wilson in charge... https://www.wsj.com/...
Alex Weprin /
@alexweprin: EA CEO Andrew Wilson is the first possible external candidate whose name has surfaced for the Disney CEO job (outside of Adam Silver last year) https://www.wsj.com/...
Luke Bouma /
Cord Cutters News: Disney Widens CEO Search Beyond “Castle Walls,” Electronic Arts CEO Among Contenders
New York Times:
Nicholas Carlson unveils Dynamo, a video-focused company that aims to make “cinematic” stories, and raised $3.4M from Henry Blodget, Jessica Lessin, and others— Nicholas Carlson is preparing to debut a media start-up of his own called Dynamo.Clark Hodgin for The New York Times
Discussion:
@bristei, @hblodget, @chaykak, @benmullin, @nichcarlson and @scottnover
Discussion:
Brian Steinberg /
@bristei: This venture idea reminds me a little of Great Big Story, the former CNN documentary video operation? https://www.nytimes.com/...
Henry Blodget /
@hblodget: Yes, @nichcarlson IS launching a new media co! And thank goodness! Video is by far the most consumed and influential medium on the planet. But linear TV is dying. So the world needs a trusted, focused, native-digital-video journalism brand. Nick and Dynamo are building it!
Kyle Chayka /
@chaykak: can you do “business journalism” while avoiding “political stories”? https://www.nytimes.com/...
Ben Mullin /
@benmullin: scoop: @nichcarlson is launching a new media company, Dynamo, with backing from @hblodget, @Jessicalessin and @ajs. Just don't call it a pivot to video!! https://www.nytimes.com/...
Nicholas Carlson /
@nichcarlson: My news is out!
The Streamable:
EchoStar reports a Q3 net loss of $142M on revenue of $3.89B, with Sling TV adding 145K customers but satellite service Dish losing 188K; SATS falls 12.9%— DISH continued to lose linear satellite subscribers, but the losses were fewer than the year-ago quarter.
Discussion:
The Desk, The Wrap, EchoStar Corporation, Tv Technology, The Hollywood Reporter, Cord Cutters News, Streaming Better and Benzinga
Discussion:
Matthew Keys /
The Desk: Dish Network sheds subscribers, but Sling TV grows during Q3
Lucas Manfredi /
The Wrap: EchoStar Sheds 43,000 Pay TV Subscribers, Adds 145,000 Sling TV Subscriptions in Q3 EchoStar Corporation: EchoStar Announces Financial Results for the Three and Nine Months Ended September 30, 2024
Georg Szalai /
The Hollywood Reporter: EchoStar Posts Loss of Dish, Gain of Sling TV Subs in Third Quarter, Raises $5.2B in Fresh Capital
Luke Bouma /
Cord Cutters News: Sling TV Added 145,000 New Customers But DISH Continue to Lose Subscribers
Nabaparna Bhattacharya /
Benzinga: EchoStar Q3 Earnings And Sales Falter, But Gains Ground With Sling TV Subscribers
RELATED:
Bloomberg: Letter: a group of Dish creditors rejects a bond-exchange offer that is key to the company's proposed acquisition by DirecTV, ahead of a November 12 deadline
Discussion:
Deadline, Wall Street Journal, The Streamable, Cord Cutters News, TVNewsCheck, The Desk, CBS News and Benzinga
Discussion:
Dade Hayes /
Deadline: EchoStar Stock Plunges After Dish Network Debt Holders Spurn Bond Deal Seen As Key To DirecTV Merger
Alexander Gladstone /
Wall Street Journal: Dish Bondholders Reject Debt Swap for Ergen's DirecTV Merger
David Satin /
The Streamable: DISH bondholders put DIRECTV merger in jeopardy, turn down new debt swap offer
Luke Bouma /
Cord Cutters News: Dish Network Bondholders Throw Wrench in DIRECTV Merger, Leaving Satellite TV's Future Uncertain
Matthew Keys /
TVNewsCheck: Dish Creditors Reject Bond Exchange, Raising Questions About DirecTV Acquisition
Matthew Keys /
The Desk: Dish creditors reject bond exchange, raising questions about DirecTV acquisition
Wall Street Journal:
Meta plans to ask Facebook and Instagram users in Europe if they want to get “less personalized ads” and cuts subscription prices by 40%, a concession to the EU— The Facebook and Instagram owner faces pressure in Europe to ask before using data to target ads or train artificial intelligence.
Discussion:
Meta, Mashable, CNBC, @laz_radic, @nickclegg, @nickclegg@threads.net, Engadget, Hindustan Times, noyb, Associated Press, The Verge, @metanewsemea, Reuters, @kint.bsky.social, Axios, @lexzard, Irish Independent, @eric_seufert, @mikeryanretail, RTÉ, TechCrunch, Bloomberg and WinBuzzer, more at Techmeme »
Discussion:
Christianna Silva /
Mashable: Meta cuts EU ad-free subscription price by 40% for Facebook and Instagram
Jonathan Vanian /
CNBC: Meta slashes EU Facebook and Instagram subscription fees by 40% to meet regional regulatory demands
Lazar Radic /
@laz_radic: 3/ The changes and how they have come about raise fundamental questions about who is ultimately in charge of designing social media products: regulators or the companies providing them?
Lazar Radic /
@laz_radic: 2/ The “less personalized” option would run a “contextual” session, which would only use session-limited data to tailor ads to the user. If I'm not mistaken, this was the EU's preferred option since day one. This suggests that they knew exactly the outcome they wanted.
Lazar Radic /
@laz_radic: 1/ Meta is rolling out changes in the EU for Facebook and Instagram users, offering a choice between reduced-price ad-free subscriptions or a free option with either personalized or “less personalized” but unskippable ads. https://about.fb.com/...
Nick Clegg /
@nickclegg: Today, we've announced important changes to Facebook and Instagram in the EU, including reducing the price of our subscription service by 40% and giving people in the EU the option to use Facebook & Instagram for free with less personalized ads. The changes we're announcing today
Nick Clegg /
@nickclegg@threads.net: Today, we've announced important changes to Facebook and Instagram in the EU, including reducing the price of our subscription service by 40% and giving people in the EU the option to use Facebook & Instagram for free with less personalized ads. …
Kris Holt /
Engadget: Meta cuts the price of its ad-free plan by 40 percent in a bid to sate EU regulators
Kelvin Chan /
Associated Press: Facebook and Instagram users in Europe can opt for less personalized ads
Jess Weatherbed /
The Verge: Meta plans to walk back its ‘pay or consent’ ad model in the EU. @metanewsemea: We will significantly reduce the price of Subscription for no ads, and offer people in the EU an additional new choice to use Facebook and Instagram for free with less personalized ads. We are doing this in response to feedback from EU regulators, even though evidence shows that
Jason Kint /
@kint.bsky.social: Facebook buckles but attempts to do it how it wants (see dark patterns, opt out, tracking across apps). This is big but EU should remain strong to why its laws are in place (to deal with Meta's abuse of market power in its surveillance capitalism). www.wsj.com/tech/meta-to...
Sara Fischer /
Axios: Meta adjusts ad approach amid pressure from EU regulators
Lex Zard /
@lexzard: This model is only legitimate if the third ‘less personilised’ option is able to pass the legitimate interest test - that is if processing personal data for this option does not require consumer consent. Not a big chance Meta can prove this https://about-fb-com.cdn.ampproject.org / ...
Adrian Weckler /
Irish Independent: Facebook and Instagram to introduce unskippable ads
Eric Seufert /
@eric_seufert: Meta is reducing the price of its subscription and introducing a Less Personalized Ads (LPA) scheme that will target ads only by context in the EU to comply with the DMA and new interpretations of the GDPR. [image]
Mike Ryan /
@mikeryanretail: These “less personalized ads” will be contextual *within a session* and augmented by baseline demographics (age, gender, location) Rollout begins “in the coming weeks,” i.e. peak shopping season
Brian O'Donovan /
RTÉ: ‘Unskippable’ ads to feature on Facebook and Instagram
Natasha Lomas /
TechCrunch: Europe's DMA forces Meta toward ‘less personalized ads’
Gian Volpicelli /
Bloomberg: Meta Unveils Less Targeted Ads to Allay EU Regulators' Concerns
Markus Kasanmascheff /
WinBuzzer: Meta Adjusts Ads on Facebook and Instagram to Meet EU Demands
Le Monde:
Le Monde, Le Figaro, Les Echos, and other French news outlets sue X, accusing it of running their content without paying, violating so-called neighboring rights— Several leading French news organizations said Tuesday, November 12, that they are suing social media platform X, accusing it of running their content without payment.
Discussion:
Reuters, The Times, TechCrunch, Daily Sabah, Telegraph, The Guardian and Al Jazeera
Discussion:
Chris Price /
Telegraph: Europe's richest man sues Elon Musk's X
Angelique Chrisafis /
The Guardian: French news titles sue X over allegedly running their content without payment
Reuters:
Spotify reports Q3 revenue up 19% YoY to €3.99B, vs. €4.02B est., MAUs up 11% to 640M, and forecasts Q4 profit and MAUs above est.; SPOT jumps 8%+ after hours— Audio-streaming giant Spotify (SPOT.N) forecast fourth-quarter profit above Wall Street estimates on Tuesday …
Discussion:
Variety, Billboard, CNBC, Music Ally, Investing.com, Bloomberg, @richlightshed, @eldsjal, @richlightshed, Spotify and Benzinga, more at Techmeme »
Discussion:
Todd Spangler /
Variety: Spotify Tops Q3 Forecasts, Reaches 252 Million Premium Subscribers as Revenue Climbs 19%
Glenn Peoples /
Billboard: Spotify Subscription Revenue Soars in Q3, Operating Profit Hits Record High
Ashley Carman /
Bloomberg: Spotify Beats Subscriber, Margin Estimates Even as Ad Sales Lag @richlightshed: @Spotify Spotify understands the importance of winning time spent $SPOT @eldsjal explains Spotify US users who consume audiobooks spend five more hours on the platform monthly than users who do & the number of Audiobooks available on @Spotify has doubled year-over-year
Daniel Ek /
@eldsjal: Spotify's Q3 results are here and it was another standout quarter. Here are a few highlights + a quick hello from our new CFO, @ChristianLuiga! Thank you to the team for continuing to deliver. 🙌🚀 [video]
@richlightshed:
Daniel Ek starts off $SPOT Q3 2024 earnings call announcing a couple of big video @Spotify announcements coming shortly. Particularly interesting given the power of video podcasting during this year election. https://lightshedtmt.com/...
@richlightshed:
@Spotify ... 🔥 Spotify paying subs up 12% y-o-y & 2% seq, while Apple has not disclosed stats since mid-2019 Global Music Paid Sub Comparison $SPOT $AAPL ▪️@Spotify at 252 mm as of end of Q3 2024 (27% or ~68 mm in North America) ▪️@AppleMusic 60 mm as of June 2019 (has NOT updated) [image]
Erica Kollmann /
Benzinga: Spotify Stock Climbs Despite Q3 EPS, Revenue Misses
Reuters:
Tencent Music reports Q3 revenue up 6.8% YoY to ~$970M, below est., social entertainment revenue down 23.9%, and paying users up 15.5%; TME drops 5%+ pre-market— Tencent Music Entertainment (1698.HK) missed estimates for quarterly revenue on Tuesday, as Beijing's crackdown …
Discussion:
Investing.com, Billboard, Tencent Music, Benzinga, Music Business Worldwide, Digital Music News, Music Business Worldwide and Variety
Discussion:
Elizabeth Dilts Marshall /
Billboard: Tencent Music Profit Jumps 35% on Subscriber Growth Tencent Music: Tencent Music Entertainment Group Announces Third Quarter 2024 Unaudited Financial Results
Anusuya Lahiri /
Benzinga: Tencent Music's Q3 Revenue Tops $1 Billion, But Monthly Active Users Fall 3%, Stock Reacts
Murray Stassen /
Music Business Worldwide: Over 8% of Tencent Music's subscribers are ‘Super VIP’. That's 10m users paying 5x the standard subscription price
Dylan Smith /
Digital Music News: Tencent Music Posts Double-Digit Q3 2024 Subscriber and Profit Growth — Non-Streaming User Dip Continues
Murray Stassen /
Music Business Worldwide: Tencent Music now counts over 10m ‘Super VIP’ subscribers, as total paid user base rises 15.5% YoY to 119m in Q3
Patrick Frater /
Variety: Tencent Music Enjoys Streaming Growth as Social Side Continues Slide
The Hollywood Reporter:
Gary Lineker plans to step down from soccer show Match of the Day after 26 years, but extends his BBC Sport contract; he is the BBC's highest-paid presenter— The ex-England soccer captain has become the face of BBC Sport and the public broadcaster's highest-paid presenter since …
Discussion:
Alexandra Topping /
The Guardian: After Lineker: who could be the next Match of the Day host?
Ellie Henman /
The Sun: Fresh row at BBC as host Mark Chapman refuses to share MOTD job with female star after Gary Lineker quit
Matthew Cooper /
The Mirror: How Gary Lineker ‘could double his £30m fortune’ after BBC Match of the Day exit
Daniel /
@dan_ofthesouth: Go on @GaryLineker 🫡 [image] @bbcmotd: ‘A big part of my life right from the start.’ @GaryLineker speaking to @BBCBreakfast, reflecting on what Match of the Day means to him. #BBCFootball [video] @hltco: 25 years presenting MOTD is incredible when you think about it. Gary Lineker has been the face of this country's biggest football show for the entirety of millions of supporters' lives, he'll have been one of the first faces they associated with the game; that's some legacy. [image]
Gabrielle Wilde /
GB News: ‘Left-field choice’ tipped for MOTD role as BBC plan for major shake-up
@bbcmotd:
The end of an era, after more than 25 years hosting Match of the Day. Gary will continue to host the FA Cup and lead the BBC's 2026 World Cup coverage. #MOTD #BBCFootball [image]
Dan Sheldon /
New York Times: Gary Lineker leaving Match of the Day at end of season, will host BBC's 2026 World Cup coverage @theeuropeanlad: Gary Lineker will be missed as presenter of Match of the Day. I remember watching this program every Saturday night as a little boy until now. Nostalgic, funny and class.
Ali Watkins /
New York Times: Gary Lineker to Leave BBC's ‘Match of the Day’
Dougie Critchley /
@dougiecritchley: Replacing Gary Lineker is a near impossible task. He is Match Of The Day. It's all multiple generations have ever known. Broadcasting behemoth!
Frank Dalleres /
City A.M.: The three names in the frame as Lineker confirms Match of the Day leaving date
Ellise Shafer /
Variety: Gary Lineker to Leave ‘Match of the Day’ at End of Season, Extends BBC Contract to 2026 World Cup
Helen Bushby /
BBC: Lineker to stop hosting Match of the Day, BBC confirms
Rick Porter /
TVNewsCheck: ‘Tracker,’ ‘Elsbeth’ Show Strong Multi-Platform Gains For CBS In Early Ratings Returns
Nik Roseveare /
Advanced Television: Lineker leaving Match of the Day
Martin Robinson /
Daily Mail: Axing Lineker will save BBC ‘millions’: Gary was ‘open’ …
Arthur Weinstein /
Awful Announcing: Popular announcer Gary Lineker reportedly sets BBC departure
Variety:
Netflix says its ad tier has 70M MAUs globally, up from 40M in May 2024, and it sold all out available in-game inventory for its Christmas Day NFL broadcasts— Netflix, a company that once dismissed the concept of allowing commercials around its popular streaming content, now can't seem to get enough of them.
Discussion:
Lucas Manfredi /
The Wrap: Netflix's Ad Tier Explodes to 70 Million Monthly Users Globally
Amy Reinhard /
About Netflix: Netflix Celebrates Two Years of Advertising
Tony Maglio /
IndieWire: 70 Million of You Now Watch Commercials on Netflix
David Satin /
The Streamable: Netflix celebrates two years of ads as ad-supported plan eclipses 70 million
Anusuya Lahiri /
Benzinga: Netflix Reaches 70 Million Users On Ad-Supported Plan, Boosts Live Sports Ads
Nicholas Morine /
RetailWire: Netflix's Ad-Supported Plan Surpasses 70M Monthly Users: Are Streaming Ads Here To Stay?
Emily Dreibelbis Forlini /
PCMag: Is Netflix Getting More Like Typical TV? ‘Over 50%’ of New Users Opt for Ads
Chris Morris /
Fortune: In just two years, Netflix's ad-supported tier has signed up 70 million users, eclipsing total membership for Hulu, Peacock, and Apple TV+
Alex Weprin /
The Hollywood Reporter: Netflix Says Ad Tier Has Surged to 70M Users, Christmas Day NFL Games Sold Out
Lawrence Bonk /
Engadget: Netflix's ad tier has attracted more than 70 million subscribers
Wendy Lee /
Los Angeles Times: Netflix says ad-supported plan now has 70 million monthly active users
Harshita Mary Varghese /
Reuters: Netflix's ad-supported tier hits 70 million users
Alexandra Canal /
Yahoo Finance: Netflix ad tier reaches 70 million monthly active users
Axios:
Source: Substack raised ~$10M in new funding; investors include Nate Silver and Omeed Malik, whose firm 1789 Capital backed Tucker Carlson's new media venture— - Substack's original value proposition of empowering writers to connect directly with their audiences has attracted a diverse set of writers …
Discussion:
ZeroHedge News
Discussion:
Washington Post:
Olivia Nuzzi drops a request for a protective order against ex-fiancé Ryan Lizza, whom she accused of harassment following news of her relationship with RFK Jr.— After news broke of her relationship with Robert F. Kennedy Jr., Nuzzi accused ex-fiancé Lizza of harassment and blackmail, which he denied.
Discussion:
The Wrap, @jenhoward.bsky.social, @lachcartwright and @maxwelltani@threads.net
Discussion:
Sean Burch /
The Wrap: Olivia Nuzzi Withdraws Protective Order Request Against Ex-Fiancé Ryan Lizza Following RFK Jr. Affair
Jen Howard /
@jenhoward.bsky.social: May have to add “Nuzzi” and “Lizzy” to my growing list of muted names. [embedded post]
Lachlan Cartwright /
@lachcartwright: NEW: Statement from Olivia Nuzzi's attorney — “Ms. Nuzzi has no interest in fighting a public relations battle. For insight into her decision, you can refer to the statements in her motion.”
Adweek:
Google cracks down on affiliate SEO businesses run by third parties, leading to much lower search visibility for those businesses at Time, WSJ, CNN, and others— The steep drops in search visibility could mean the end to outsourcing affiliate operations — The search visibility of the Forbes …
Discussion:
Mark Stenberg on LinkedIn and @simondowens@threads.net
Discussion:
Mark Stenberg /
Mark Stenberg on LinkedIn: Exclusive: A new Google policy is penalizing publishers for using third-party vendors to run their affiliate operations. …
The Guardian:
ECHR rules in favor of Daily Mail publisher ANL, which argued that forcing media orgs to pay success fees when they lose a case violates free speech rights— Associated Newspapers argued it was ‘excessive’ for such fees to be added to the costs of people who had sued it
Discussion:
Byline Times, @ChrisMayLA6@zirk.us and Press Gazette
Discussion:
Josiah Mortimer /
Byline Times: MediaWatch: The Daily Mail Relies on Its Arch-Nemesis the ECHR for Partial Court Win @ChrisMayLA6@zirk.us: I'm going to say its just a little bit ironic that the Daily Mail has used the European Court of Human Rights to successfully sue for a reduction in damages it is having to pay to victims of its practices over the years..... Its one of those things that makes you think there is little point in poetical satire any longer.... …