Tag: cutting
PM refuses to commit to cutting net migration to level set in 2019 Tory manifesto
In One Chart: 2.3 million Americans ditched pay TV services in the first quarter: This chart shows just how much more we are cutting the cord
Spotify Tries To Win Indie Authors By Cutting Audiobook Fees
The margins on audiobooks are exceptionally high, much to the chagrin of the authors. For example, Audible takes 75 percent of retail sales (though it’ll only take 60 percent with an exclusivity contract). Many authors share royalties with their narrators and have to pay production fees — meaning they get an even smaller share of royalties. The move by Spotify and Findaway is likely a bid to draw more indie authors from Audible, which is currently its biggest competitor. But Spotify’s audiobooks business — which it launched last fall — still has a long way to go. Unlike music or podcasts, most audiobooks on Spotify must be purchased individually, and sales are restricted to its web version. Even CEO Daniel Ek admitted that the current process of buying an audiobook through Spotify is “pretty horrible.” “We at Spotify are just at the beginning of our journey supporting independent authors — we have many plans for how to help authors expand their reach, maximize revenue, and ultimately build a strong audiobooks business,” said Audiobook’s communications chief, Laura Pezzini.
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Red Hat Begins Cutting ‘Hundreds of Jobs’
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Warning: SWDBY is at high risk of cutting its dividend
Warning: GPC is at high risk of cutting its dividend
Telstra admonished for cutting mobile service without sufficient notice to customers
Nvidia reportedly cutting supply on slow selling RTX 4070 GPU
Tesla’s rampant price cutting is taking a toll on its profits
Tesla published its first quarter earnings report in which the company said it earned $2.9 billion in net income on $23.3 billion in revenue. That represents a 24 percent increase year over year compared to $18.7 billion in revenue in Q1 2022.
Most importantly, the company’s gross margins fell to 19.3 percent, a sign that its rampant price cutting was starting to take a toll on its bottom line. Gross margins were down 18.9 percent quarter-over-quarter, and 33 percent year-over-year.
Some analysts were dour about Tesla’s future in reaction to the earnings report. “Tesla’s underwhelming quarter is the latest sign that growing macroeconomic uncertainty is having some impact on demand for its electric vehicles,” Jesse Cohen, senior analyst…