It’s time for another Friday Five, where we unpack the newest developments in media, tech, and publishing. This week, we’re looking at Stripe’s AI-powered growth, the U.S.’s continued decline in the World Press Freedom Index, the publishing industry’s strong 2024 growth, subscriber turmoil at the Washington Post, and a landmark copyright ruling that could reshape AI training. Here’s what you need to know!
How Stripe’s billing experiment propelled a $500 million AI-fueled business
Stripe's Revenue and Finance Automation division, anchored by Stripe Billing, surpassed a $500 million annual revenue run rate at the end of 2024. The recent surge in AI has significantly boosted Stripe Billing's growth, with companies like OpenAI contributing to its increased usage. John Collison, Stripe's co-founder, emphasizes the importance of focusing on customer needs over being “first to market,” suggesting that prioritizing customer satisfaction leads to better long-term success. Read more on Fortune.
US slipping down the World Press Freedom Index. How low will it go?
The United States has been steadily declining in the World Press Freedom Index, dropping from 17th place in 2002 to 55th in 2024. This trend is expected to continue under the new Trump administration, especially after the Associated Press was barred from the Oval Office and Air Force One. Observers fear that such measures could further erode press freedom in the U.S., potentially leading to even lower rankings in future indices. Read more on InPublishing.
AAP: Overall Publishing Industry Up 6.5% Year-To-Date
According to the Association of American Publishers' (AAP) December 2024 StatShot report, the U.S. publishing industry experienced a 6.5% increase in total revenues for the year, reaching $14.2 billion. However, December 2024 saw a 4.3% decline compared to December 2023, with revenues totaling $904.6 million. These figures indicate a robust year for the publishing industry in 2024. Notably, digital audio formats continue to show significant growth across various categories. Read more on AAP.
Bezos' changes at 'Washington Post' lead to mass subscription cancellations — again
Jeff Bezos has announced that The Washington Post's opinion section will focus exclusively on "personal liberties" and "free markets.” This shift led to the resignation of opinions editor David Shipley and has sparked backlash from readers who view it as a move away from independent journalism. As a result, more than 75,000 digital subscribers have canceled their subscriptions, adding to previous losses from earlier editorial controversies. Read more on NPR.
Copyright’s Big Win in the First Decided US Artificial Intelligence Case
In a landmark decision, a U.S. court ruled in favor of Thomson Reuters against Ross Intelligence, marking the first U.S. case addressing AI training and copyright infringement. Ross had copied Westlaw's copyrighted materials without permission to train its AI, aiming to develop a competing legal research product. The court determined that such use did not qualify as fair use, emphasizing that this copying harmed potential licensing markets. This ruling sets a significant precedent for future cases involving AI training and the use of copyrighted materials. Read more on Scholarly Kitchen.