Facebook parent Meta announced better-than-expected earnings for Q2 last week, surpassing Wall Street estimates for revenue and profit. The company plans to continue spending heavily on artificial intelligence and virtual reality, despite significant losses in its AR/VR and metaverse businesses. Meta reported a revenue increase of 22 percent from $32 billion for the same quarter last year, representing four straight quarters of growth exceeding 20 percent. The company noted that net income jumped 73 percent to $13.47 billion. Advertising revenue, largely from Facebook and Instagram, was up 22 percent year-over-year. Continue reading Meta Reports Q2 Digital Ad Growth, Will Continue AI Spending

Comscore announced this week it is rolling out comprehensive audience measurement and cross-platform video insights for YouTube traffic across desktop and mobile devices and connected TVs in the U.S. “This new capability enhances Comscore’s existing reporting for YouTube video traffic on desktop and mobile browsers, as well as in mobile apps,” the company explains. Comscore clients will now have access to Traffic Sharing in YouTube CTV measurement data, which includes viewership info about content distributed on YouTube to content creators. Data should help advertisers evaluate ad campaigns that incorporate YouTube. Continue reading Comscore Measures YouTube Audience Across Digital Devices

Graphic design company Canva announced it is acquiring fellow Australian startup Leonardo AI with plans to have Leonardo’s 120 employees, including executives, join the Canva AI team. Financial terms of the deal were not disclosed. Sydney-based Leonardo has been gaining attention for its advanced generative AI platform that helps users create images and art based on the open-source Stable Diffusion model developed by Stability AI. The Leonardo team claims its offering is different than other AI art platforms since it provides users with more control. Users can experiment with text prompts and quick sketches as Leonardo.ai creates photorealistic images in real time. Continue reading Canva Aims to Boost Its GenAI Efforts with Leonardo Purchase

Two landmark bills designed to bolster online safety for children — the Kids Online Safety Act (KOSA) and the Children and Teens’ Online Privacy Protection Act (COPPA 2.0) — were overwhelmingly approved by the U.S. Senate on Tuesday in bipartisan 91-3 votes. If approved by the House, the legislation would introduce new rules regarding what tech companies can offer to minors and how those firms use and share children’s data. The three senators who voted against the bills cited concerns that the regulations could stifle free speech, open the door to government censorship, and fail to adequately address the greatest threats to children online. Continue reading Senate Passes Two Bills to Strengthen Children’s Online Safety

With 950 million active users, messaging app Telegram is planning to launch an in-app browser that supports Web3 along with an app store, according to founder Pavel Durov. Telegram, which launched in 2013, is expected to surpass 1 billion users this year and may hit profitability in 2025, Durov has said. Though the global platform is known for encrypted private communications, it has recently seen a surge of growth among mini-apps and games and has a thriving community built around crypto rewards. Now, Binance Labs has led an investment in Pluto Studio, developer of the Telegram-based game “Catizen.” Continue reading Messaging App Telegram Planning App Store, Pushes Web3

Alphabet announced that its revenue was up 14 percent to $84.7 billion in Q2, slightly outperforming expectations. Profits rose 29 percent to $23.6 billion, beating analyst targets by $900 million. Search continued to be a top performer, generating $48.5 billion in the three-month period ending June 30, while Google advertising was up 10.5 percent to $64.6 billion. Google CEO Sundar Pichai said the company’s cloud and generative AI solutions “are being used by more than 2 million developers.” The Google Cloud services unit surpassed the $10 billion quarterly revenue mark for the first time. “We are innovating at every layer of the AI stack,” Pichai added. Continue reading Alphabet Reports Q2 Profits Jump 29 Percent to $23.6 Billion

Amazon Prime Video is releasing a newly redesigned app that promises to bring “clarity and simplicity back to streaming” with AI-powered improvements to navigation, personalization, purchases and recommendations. Among other upgrades, the app makes it easier to quickly identify movies and series that are available to Prime members at no additional cost. Prime members had been lobbying for a brighter line between what is included with a subscription and what comes with an additional cost. A global rollout began this week, and eventually the app will be available to all Prime Video customers. Continue reading Responding to Members, Prime Video Updates User Interface

Google has reconsidered its previously announced plan to turn off third-party tracking cookies in its Chrome browser in favor of an option to be controlled by consumers. The original plan was pushed back a few times but was expected to take place early next year. Competitors and regulators have raised concerns about the deprecation that would have left Google — which hauled in more than $237.86 billion in ad revenue last year — free to use its own tracking to serve targeted ads to those using Chrome. Google is now developing a new plan to let consumers make their own informed decisions about whether to allow third-party cookies. Continue reading Google Changes Direction with Plans for Third-Party Cookies

Altice USA has launched a new Internet package for its Optimum Stream platform. Called Entertainment TV, the virtual MVPD service offers premium entertainment content for $30 per month. The move comes as Altice says Optimum is further expanding its Optimum Stream product offering to homes in the U.S., including in Arkansas, Arizona, Louisiana, North Carolina and Texas. Optimum Stream was previously available only to Optimum Internet customers in New York, New Jersey and Connecticut. Optimum Stream debuted in 2021, targeting consumers without linear TV who would be interested in subscribing to a broadband service for $5 per month. Continue reading Altice USA Bows Entertainment TV Internet Streaming Service

Netflix reported that its popular streaming service has added 8.05 million subscribers during Q2, a healthy gain from 5.89 million newcomers during the same period a year earlier. The streamer’s total of more than 277 million worldwide customers makes it by far the largest subscription service of its kind. Revenue climbed to $9.56 billion, a nearly 17 percent second quarter gain that outperformed its own projections. Subscriptions on the ad-supported tier grew 34 percent compared to Q1. Amidst upheaval in more traditional media environs, Netflix seems to be gliding along, closing Thursday with a market valuation of $277 billion. Continue reading Netflix Reports Q2 Subscriber Growth as Revenue Tops $9.5B

Suno, the AI text-to-music startup that along with AI music generator Udio is currently being sued by the Recording Industry Association of America, has launched its long-awaited mobile app. Likened to a pocket-sized virtual music studio, it is available for free (with ads) to iOS users in the U.S. Suno says a global rollout is coming soon, as is a mobile app for Android. “Whether you’re a shower singer or a charting artist, we break barriers between you and the song you dream of making. No instrument needed, just imagination,” touts Suno’s landing page on Apple’s App Store. Continue reading Suno’s AI Music Generator Is Now Available for iOS Devices

DreamFlare has emerged from stealth to launch what is being billed as the first streaming platform for GenAI video. In addition to the consumer-facing subscription platform, the business model includes a sort of AI studio where creators can tap the expertise of professional storytellers to produce AI video using third-party tools like Runway, Sora and Midjourney. The company will feature two types of content: Flips, which are animated narratives with audio that viewers can also examine frame-by-frame, as with comic books, and Spins, described as “short movies” featuring branched narratives that provide interactive plot choices. Continue reading DreamFlare Launches AI Video Studio and Streaming Service

Generative video creation and editing platform Captions has raised $60 million in Series C funding. Founded in 2021 by former Microsoft engineer Gaurav Misra and Goldman Sachs alum Dwight Churchill, the company’s technologies — Lipdub, AI Edit and the 3D avatar app AI Creator — have amassed more than 10 million downloads for mobile, the firm says. The C round brings its total raise to $100 million for a stated market valuation of $500 million. With the new funding, Captions plans to expand its presence in New York City, which is “emerging as the epicenter for AI research,” according to Misra. Continue reading Captions: Generative Video Startup Raises $60 Million in NYC

New York-based AI startup Runway has made its latest frontier model — which creates realistic AI videos from text, image or video prompts — generally available to users willing to upgrade to a paid plan starting at $12 per month for each editor. Introduced several weeks go, Gen-3 Alpha reportedly offers significant improvements over Gen-1 and Gen-2 in areas such as speed, motion, fidelity and consistency. Runway explains it worked with a “team of research scientists, engineers and artists” to develop the upgrades but did not specify where it collected its training data. As the AI video field ramps up, current rivals include Stability AI, OpenAI, Pika and Luma Labs. Continue reading Runway Making Gen-3 Alpha AI Video Model Available to All

Spotify recently introduced a new $10.99 per month Basic streaming plan in the U.S., which includes “the music streaming benefits of your Premium plan without the monthly audiobook listening time.” As part of its move to provide “more choice for U.S. subscribers,” Spotify now offers subscriptions including an $11.99 per month Premium Individual plan, $16.99 Premium Duo option, $19.99 Premium Family (for up to 6 members of one household), and Audiobooks Access for $9.99 per month. Additionally, in an effort to boost video content the company is allowing podcasters, even those not officially hosted by Spotify, to upload video podcasts. Continue reading Spotify Offers Basic Streaming Plan, New Podcaster Feature