Time Magazine Layoffs and Strategic Changes

Time magazine is cutting 22 roles across various departments, including editorial, technology, sales & marketing, and TIME Studios. This decision is driven by business challenges such as lower advertising budgets, competition, shifts in consumer behavior, and a focus on growth areas like Climate, AI, and Health.

Amazon's Q2 Earnings Report and Forecast

Amazon reported weaker-than-expected revenue for the second quarter and issued a disappointing forecast for the current period. The company is facing challenges in its core retail business due to competition from discount sites like Temu and Shein. While online store sales grew slowly, third-party seller services revenue accelerated. AWS beat estimates, but the unit is expanding slower than competitors like Microsoft and Google. Amazon's advertising revenue grew, with most sales coming from sponsored product listings. Net income doubled due to cost-cutting efforts. Weak guidance is attributed to consumer distractions from world events like the Olympics and the attempted assassination of Donald Trump.

Netflix's Decision to Stop Quarterly Membership Data Disclosure

Netflix plans to stop giving quarterly membership data, which may signal a growth slowdown in the near future. The move has negatively impacted Wall Street's reaction to the company's report.

Paramount Global Downgraded to Junk Status by S&P

Paramount Global has been downgraded to junk status by S&P due to the ongoing plunge in cable TV subscriptions. The studio is facing economic challenges as American households continue to cut cords, impacting advertising revenue and streaming profitability.