Friday Five: The Latest in Media and Technology
Welcome back to Friday Five! This week, we talk about Mather Economics acquiring Sophi Inc., The New York Times’ revenue growth strategy, The Associated Press setting AI guidelines for journalists, Simon & Schuster sold to an investment firm, and Disney+ losing 11.7m subscribers.
Mather Economics Acquires Sophi Inc.
Mather has acquired Sophi Inc., hoping to unite their expertise to help publishers engage and generate revenue. The partnership combines Mather's services and Sophi's software to offer a comprehensive suite of solutions, leading to more offerings and faster solutions for customers. Read More on Mather Economics.
The New York Times’ Successful Revenue Growth Strategy
The New York Times' revenue growth strategy relies on bundled subscriptions marketed as "All Access", offering news, cooking, Wirecutter (product reviews), and The Athletic (sports news). This strategy has contributed to the company's financial success, with operating profits of $55.8 million in Q2 and a growing subscriber base. Read More on Press Gazette.
Associated Press Sets AI Guidelines for Journalists
The Associated Press (AP) has decided not to allow the use of AI to create or alter photos, videos, or audio. The AP’s new guidelines say they will only use AI-generated images if they are the subject of a news story and will label them as such. This update in guidelines reflects the ongoing debate over the use of AI in journalism, with some arguing that it could lead to the spread of misinformation. Meanwhile, others are arguing that it could help journalists produce more accurate and timely reporting. Read More on The Verge.
Simon & Schuster Sold to an Investment Firm
Simon & Schuster, one of the major US book publishers, has been sold to the private equity firm KKR for $1.62 billion. The deal, which is seen as a sign of the growing consolidation of the book industry, raises concerns about the impact on authors and publishing operations. Read More on New York Times.
Disney+ Loses 11.7m Subscribers
Disney's Q3 revenue grew 4%, driven by growth in its direct-to-consumer business. However, Disney+ has lost 11.7 million subscribers. CEO Bob Iger emphasized restricting efforts to improve direct-to-consumer performance. Read More on Advanced Television.