In the quarter ending March 31, Fox Corporation saw its year-over-year profit increase sevenfold to $567 million, with a 6.5 percent drop in revenue to $3.2 billion. The numbers exceeded Wall Street estimates. Earnings per share were 88 cents, ahead of analyst expectations of 58 cents. Fox chief executive Lachlan Murdoch reported that exiting “Thursday Night Football” a year early would lift earnings from $350 million to $400 million, which would help finance the 13-year deal that the company struck to continue broadcasting Sunday NFL games. Read more

In Q1, Roku reported a 35 percent jump in active accounts, to 53.6 million, with revenue up 79 percent year-over-year to $574.2 million, beating Wall Street analysts’ expectation of $490.6 million. Those analysts also predicted that Roku would lose money in Q1 but instead it reaped an operating income of $75.8 million, up from $55.2 million in the red a year ago. Platform revenue increased 101 percent to $466.5 million. Total streaming hours on all Roku devices also reached 18.3 billion hours, a 49 percent YoY increase. Read more

Google debuted “Entertainment Space,” a feature on the left side of the home screen of Walmart tablets that the company dubs “a one-stop, personalized home for all your favorite movies, shows, videos, games and books.” It is soon to expand to Lenovo, Sharp and other manufacturers’ devices. Google Play product manager James Bender said that with Entertainment Space users will “save time and avoid having to hop between apps to try to figure out what to do.” Each family members can have their own profile on the hub. Read more

On May 6, the Biden administration rescinded the “Independent Contractor Rule,” created during the Trump administration, that made it easier to classify gig workers as independent contractors. The Department of Labor stated that withdrawing the rule would “maintain workers’ rights to the minimum wage and overtime compensation protections of the Fair Labor Standards Act.” Labor Secretary Marty Walsh added that the move will “stop the erosion of worker protections that would have occurred had the rule gone into effect.” Read more

NBCUniversal Telemundo Enterprises announced the launch of Telemundo Streaming Studios this week, a production unit that will exclusively serve the growing need for Spanish-language VOD streaming content. The newly created unit, which already has 35 projects in development, will also offer production services to direct-to-consumer platforms. Latinos are seen as a key cohort in expanding streaming, and Nielsen reported that four out of five have access at home to it. Rival Univision debuted PrendeTV, a free, ad-supported streaming service in March. Read more