Michael Nathanson, a well-respected media research analyst, said Monday at Recode's Code Media conference that he estimates that Disney spends the most on content annually, followed by Comcast and AT&T.
Why it matters: There's been a long-standing narrative that Netflix spends more money on content than its streaming rivals, but the MoffettNathanson estimates revealed at the conference dispute that notion.
Hacked Disney+ accounts showed up for sale on dark web criminal markets almost immediately after Disney's new streaming service went live, reported ZDNet.
The big picture: The hijacking of account credentials no doubt came as a shock to the affected users, who suddenly found their passwords changed and their accounts inaccessible. But it's a commonplace occurrence in a world where many users reuse passwords from one service to another.
The New York Times will no longer use tracking pixels from Facebook and Twitter to track its users' browser history, executives tell Axios.
What's new: The company has created a marketing tool that will allow it to target potential subscribers on platforms like Facebook and Twitter without having to leverage its users' general browsing history.
A new study finds that while Americans mostly agree that something should be done to address the demise of local news, the population differs on how to address the problem based on their party identification.
Why it matters: The new data suggests that political disparities about the value of the media at the national level have carried through to the local level.
Some of the largest local newspaper chains have seen their stocks tumble over the past few weeks, making further consolidation and job losses in the local newspaper space seem inevitable.
Why it matters: The crisis surrounding the collapse of local news is not just being felt by family-owned local newspaper chains, of which there are many, but also major conglomerates and publicly traded newspaper companies.
With Q3 earnings season nearly over, investors are applauding, even cheering companies that fall short of expectations or signal next quarter won't be as rosy as previously thought.
Why it matters: Investors' renewed optimism that's pushed stock prices to all-time highs is giving businesses more leeway than in the past.
Health care hiring is driving the labor market, and it's so robust that it likely would be safe even during a recession or political upheaval, CNN Business reports.
Between the lines: No matter what happens, the population is aging and will need care.
The Justice Department will seek a court's approval to get rid of decades-old rules restricting how movie studios can distribute films, DOJ antitrust chief Makan Delrahim said Monday.
Why it matters: While the DOJ and FTC are investigating tech companies for anticompetitive behavior, Delrahim warned against hurting innovation by over-enforcing or putting in place strict rules that could outlive their usefulness.
A new Institute of International Education report shows that the number of international students newly enrolled in U.S. colleges and universities fell by 1% last academic year, per AP.
Why it matters: The drop marks the third consecutive year that enrollment for international students dipped, following 7% and 3% decreases in the two previous years, which were the first downturns in more than a decade.
Saudi Aramco is taking the world's largest oil producer public in what is expected to be the largest IPO of all-time — but it will be smaller than expected. Dan digs in with Axios' Ben Geman on what this means for global financial and energy markets, plus the future of Saudi Arabia.
Saudi Arabia's decision to abandon a $2 trillion valuation for the Aramco IPO underscores hurdles facing Crown Prince Mohammed bin Salman's plans to use the company as a tool for diversifying the kingdom’s crude-reliant economy.
Driving the news: ICYMI, over the weekend Aramco announced preliminary pricing on the offering that signals an estimated valuation of the world's largest oil-producing company in the $1.6–$1.7 trillion range.
The narrative of the U.S. economy lately has been strong consumer spending as the cornerstone of growth, offsetting lackluster business investment.
Driving the news: Economists pared down estimates for Q4 GDP — prompted by worse-than-expected economic data on Friday. The downgrades would have been worse, if not for retail sales figures that pointed to a solid, but slightly more cautious, consumer.
California’s unprecedented law requiring all public companies headquartered there to have at least one female board member by 2020 is drawing lawsuits.
Why it matters: Pressure to diversify corporate boards has historically come from shareholders and special interest groups. With California's law poised to take effect — and at least three states weighing similar legislation — critics are raising the question of government overreach.
WeWork is set to lay off at least 4,000 employees as early as next week as the company grapples with majorlosses that have threatened its very existence, the New York Times reported Sunday evening.
Details: About a third of the 12,500 people that WeWork employed across its global operation at the end of June would be impacted by the layoffs, NYT notes, citing two people with knowledge of the matter. One source placed the figure as high as 5,000–6,000.
