The TLDR: August 21, 2023

The TLDR powered by Barstool Sports highlights some of the biggest stories and trends Barstool execs and insiders (including CEO Erika Ayers) are keeping an eye on in the world of sports, media & tech. The newsletter is carefully curated by Tyler Morin and drops every Monday morning.

Today's TLDR reflects the week beginning August 14th.

SPORTS

• ESPN's Sage Steele to depart after lawsuit settlement over alleged free speech violations. Steele was suspended by ESPN in 2021. Read >
• Verizon and Disney discuss partnership for streaming ESPN cable channel. Verizon previously partnered on Disney+, Hulu, and ESPN+. Read >
• Madison Square Garden Sports Q4 revenue drops 28% to $127 million in FY2023 due to fewer NBA/NHL playoff games and NHL season timing. Overall parent company revenue was a record $887 million, up 8% from prior year. Read >
• Nationwide pickleball trend drives demand for more courts and facilities, with over $900 million needed for construction to meet current and future demand. Read >
• Netflix expands sports docuseries lineup to include sprinting with an upcoming untitled series following top sprinters worldwide. Read >

MEDIA

• Spotify considered removing white noise podcasts, aiming to increase annual gross profit by €35M. Read >
• Average price of major ad-free streaming services rises nearly 25% in a year to push users towards ad-supported tiers. Read >
• Substack expands into social networking by allowing users to follow writers without subscribing to newsletters, following Notes. Read >
• Fantasy Life, NBC Sports analyst Matthew Berry's firm, secures $2M funding, boasts profitability, $1M+ revenue, and 350K subscribers. Read >
• Roku adds channels including MrBeast, Saved by the Bell, 30+ CBS and Fox News channels, expanding on existing ABC and NBC news channels. Read >
• Simplify Inventions to acquire ~65% stake in Sports Illustrated owner Arena Group, involving $50M investment and ~$60M ad commitment. Read >
• Barstool CEO Erika Ayers Badan interviewed on Penn deal, site growth, and more. Read >
• The New York Times shifts focus from news-only subscription, emphasizes All Access bundle of five consumer products to attract new subscribers. Read >
• CoinDesk cuts 45% of editorial team as parent company Digital Currency Group explores outlet sale. Read >

TECH/SOCIAL MEDIA

• Meta introduces global HD photo support in WhatsApp, with plans for HD video support soon. Read >
• Meta updates Threads, adding Repost tab to profiles and including reposts in the Following feed. Read >
• Elon Musk announces intention to remove the "block" feature on X except for DMs, responding to user discussion. Read >
• NYC prohibits TikTok on city-owned devices due to security concerns, requiring removal within 30 days. Read >
• In 2023, console video gamers to spend $21B on in-game items and subscriptions, aligning with mobile's "live service games" trend. Read >
• X implements, then removes, five-second delays on t.co links to various sites including Instagram, Facebook, and Substack. Read >
• X discontinues timeline-based advertiser promotion of accounts. Follower Objective ads were reportedly generating $100M+ annually. Read >
• X faces backlash for placing ads on a pro-Hitler account shortly after assuring brand safety measures. Read >