Snap Inc. announced plans to cancel ongoing projects such as Snap Originals, in-app multiplayer games, HTML mini-apps built by outside developers, and future development of its Pixy selfie-camera drone — all part of a corporate restructuring that will include laying off about 20 percent of its more than 6,400 employees. The company, which operates the popular social media app Snapchat, is taking cost-cutting measures as it faces growing competition from TikTok and other rivals and challenges to its core digital advertising business. Continue reading Snap Canceling Projects and Cutting 20 Percent of Workforce

Five industry experts were invited to give 25-minute presentations over Zoom to the ETC@USC membership last week on the theme of virtual beings. Discussions addressed creating a more emotive and relatable personality and improving the image, sound and body language of virtual characters. The presenters were chosen because of their efforts to bring a new dimension to related discussions taking place within ETC’s member companies. The talks were recorded and posted on ETCentric in support of ETC’s mission of sharing information and educating the industry. Continue reading Industry Leaders Discuss Virtual Beings at ETC Town Square

President Biden signed the expansive $280 billion CHIPS and Science Act into law yesterday. The legislation includes $52.7 billion in subsidies and tax credits to help strengthen U.S. semiconductor manufacturing, research and workforce development. In addition to revitalizing domestic manufacturing efforts, the package intends to “create good-paying American jobs, strengthen American supply chains, and accelerate the industries of the future,” explains the White House. The measure is also part of larger effort by the federal government to combat the growing influence of China, especially involving tech sectors and the potential impact to security and privacy. Continue reading Biden Signs Bill to Boost Chip Production and Supply Chains

The Entertainment Technology Center@USC will host its 6th vETC virtual conference at SIGGRAPH 2022 in Vancouver, British Columbia, August 9-11. During this year’s vETC at the Amazon Web Services booth (1039), speakers will present concepts, workflows, business models and case studies as they apply to virtual production. Many of the companies that worked on ETC’s latest R&D film project, “Fathead” will discuss their discoveries in sessions that will be recorded and posted on ETC’s YouTube channel. The 3-day program with list of speakers and gear to be demonstrated is available on the ETC site. Continue reading vETC to Discuss Virtual Production During SIGGRAPH

Elon Musk is attempting to terminate his $44 billion deal to acquire social giant Twitter. Musk’s attorneys claimed in a regulatory filing that Twitter was in “material breach of multiple provisions” of the purchase agreement and “appears to have made false and misleading representations.” According to Twitter board chairman Bret Taylor, “The Twitter board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement.” The deal includes a $1 billion “breakup fee” and the company can hold the billionaire to his original agreement by taking him to court. Continue reading Elon Musk Notifies Twitter of Plan to Cancel Acquisition Deal

Unless there is breaking news, ETCentric and The Daily News Brief will not publish during the upcoming national holiday. We wish you and your families a very happy and safe 4th of July weekend. Our team will return on Tuesday with the latest in entertainment technology news. Continue reading Happy Independence Day: ETCentric Will Return on Tuesday

HALOSTAGE is presenting an open forum and series of tech demonstrations over five days at The Henson Soundstage on The Jim Henson Company Lot in Los Angeles. The free event, slated for June 27-July 1, will feature virtual production LED stages with curved cinematic boards designed for in-camera visual effects (ICVFX). HALOSTAGE will offer in-depth presentations and hands-on shooting for all production departments. For studios and producers, demos will illustrate how mobile stages enable flexible setups and help eliminate investment risks. For the detailed program and to register, visit the HALOSTAGE event site. You can also check out the HALOSTAGE Invite PDF. Continue reading Forum to Demo Next-Gen Virtual Production Stage for ICVFX

The National Labor Relations Board announced over the weekend that 65 Apple employees at a Towson, Maryland store (near Baltimore) have voted to unionize (33 voted against). The Apple CORE (Coalition of Organized Retail Employees) will become part of the International Association of Machinists and Aerospace Workers (IAM). The decision follows a growing labor trend across restaurant, retail and tech industries, while marking a first for Apple’s more than 270 U.S. retail locations. The Towson facility is the third Apple Store to conduct a union drive this year, but the first to hold an official vote. Continue reading In First for Apple, Maryland Store Employees Vote to Unionize

Sheryl Sandberg announced that she will be resigning from her 14-year tenure as the chief operating officer of Meta Platforms, the company formerly known as Facebook. She will be replaced by Meta’s chief growth officer Javier Olivan and maintain a seat on the company’s board of directors. Sandberg will work with Meta CEO Mark Zuckerberg to transition out of her role as COO and officially step down this fall. Recognized by Zuckerberg and others as the primary architect of Facebook’s advertising business, Baird analyst Colin Sebastian said Sandberg developed “one of the strongest business models in the digital economy.” Continue reading Sheryl Sandberg Is Stepping Down as COO of Meta Platforms

Unless there is breaking news, ETCentric and The Daily News Brief will not publish during the upcoming national holiday. We wish you and your families a very happy Memorial Day. Our team will return on Tuesday with the latest in entertainment technology news. Continue reading ETCentric to Return After the Memorial Day Holiday Weekend

Production in the cloud, virtual workflows and remote work solutions were hot topics at the 2022 NAB Show in Las Vegas last month. Erik Weaver, director of adaptive production at the Entertainment Technology Center@USC, discussed new tools and techniques implemented during the production of ETC’s “Fathead,” a short film that experimented with in-camera real-time VFX and LED stages. Weaver joined “Fathead” virtual production producer Tom Thudiyanplackal, the short’s post-production supervisor James Blevins, and the global lead for Film/TV production partners at Amazon Web Services (AWS) Jack Wenzinger for a compelling NAB panel discussion, “ICVFX and the Cloud.” Continue reading ‘Fathead’ Team Explores Virtual Production During NAB Panel

Twitter’s board has accepted billionaire Elon Musk’s offer to purchase the social media company for $44 billion, a financial value that reflects his April 14th offer of $54.20 per share. “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” said Musk, the CEO of Tesla Motors and SpaceX, who earlier revealed a desire to make Twitter a private company. “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans.” Continue reading Twitter Accepts Musk’s $44 Billion Offer to Acquire Company

Less than two weeks after announcing he had built up a 9.2 percent stake in Twitter (and more recently turning down an offer to join its board of directors), billionaire CEO of SpaceX and Tesla Motors Elon Musk has made a cash offer of $54.20 a share to purchase the popular social networking service, valuing the company at about $43 billion. “Twitter needs to be transformed as a private company,” Musk wrote in a letter to Twitter chairman Bret Taylor disclosed in an SEC filing. “My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder. Twitter has extraordinary potential. I will unlock it.” Continue reading Elon Musk Makes ‘Best and Final’ $43B Offer to Buy Twitter

YouTube recently announced that it plans to offer full seasons of ad-supported streaming TV series free of charge, a first for the Google video platform. The move will put YouTube in competition with a growing number of free streaming services such as IMDb TV, Peacock, Plex, Pluto TV, The Roku Channel, Tubi and Xumo. U.S. consumers can expect more than 4,000 free episodes to start, with up to 100 additional film and television titles to be added each week. The popular video site already offers more than 1,500 free, ad-supported movies, so the television content is expected to serve as a vital expansion of its streaming options. Continue reading YouTube Joins the Free, Ad-Supported Streaming TV Market

WarnerMedia’s CNN is expected to charge $5.99 per month for its subscription-video streaming news outlet, CNN+, when it rolls out this spring. Early subscribers who sign up for CNN+ during the initial four-week promotion will pay $2.99 and have the option of CNN+ for life at 50 percent off the regular price, as long as the subscription is kept active. While many TV news networks have been launching free, ad-supported streaming outlets, CNN+ will reportedly run the same price as Fox Nation. The news network hopes that CNN+ will attract consumers growing up without cable and help the brand transition to a post-pay TV world. Continue reading CNN Readies Launch of Subscription Streaming News Outlet