Google in Legal Waters, Robinhood's New Gamble, Axios' Counter-AI Strategy & More
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Robinhood launched Sherwood News, a media subsidiary aiming to be a revenue source through ads and events, separate from its trading platform. The new site features diverse content sections and employs veteran journalists.
Google is removing links to California news sites in response to a proposed state law that would require tech companies to pay publishers for content. The company describes the action as a test to assess the legislation's impact on its services.
Axios CEO Jim VandeHei is adjusting the company's strategy to counter AI's impact, focusing on journalistic expertise and live events. This includes launching a membership program and expanding high-end newsletters to adapt to shifts in news consumption.
Nylon is reintroducing a physical magazine for the first time since 2017, as part of a wider trend where legacy publications revive print for strategic marketing and advertising. This move comes despite a challenging digital advertising environment.
Puck has acquired the Substack newsletter Artelligence, marking its first purchase of an existing newsletter. Artelligence, which has 32,000 subscribers, will be rebranded as "Wall Power" and integrated into Puck's portfolio, with efforts to convert paid subscribers.
Former Meta news executive Campbell Brown has joined AI startup TollBit as a senior adviser. TollBit, which is developing a marketplace to connect AI firms with media outlets, recently raised $7 million. Brown will focus on fostering partnerships in media and tech.
The Lenfest Institute launched a $7.25 million Local News Infrastructure Fund, backed by the Knight Foundation, to boost technology in local newsrooms. The fund will support services that enhance publisher capabilities in audience engagement and revenue generation.
Chartbeat's data shows rapid growth in social video on platforms like YouTube and TikTok, advising publishers to focus on filling content gaps, investing in evergreen content, and adapting to longer video formats to engage younger audiences.
Google has responded to publisher Gannett's June 2023 antitrust lawsuit, denying allegations and arguing its ad tech practices are crucial for a healthy web. Google contends that Gannett's requested relief would harm public interest.
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