Privately-held startup ByteDance, owner of TikTok, reported that its revenue more than doubled to $34.3 billion last year, rising 111 percent from a year ago while gross profit rose 93 percent to $19 billion. As of December 2020, ByteDance — which also runs Douyin, the domestic Chinese version of TikTok, and Jinri Toutiao, a news aggregation app — had about 1.9 billion monthly active users on all its platforms. Due to share-based compensation to workers, the company had a $2.1 billion operating loss last year. Continue reading ByteDance Revenue, Profit Leap in 2020 But No IPO in Sight

Amazon’s live-streaming platform Twitch was a haven for musicians during the COVID-19 pandemic, attracting “an average of 30 million visitors a day,” who watched 1+ trillion minutes of content last year. More importantly, its economic model, unlike that of Apple Music, Spotify and YouTube, allows musicians to monetize fan interactions. Musicians cultivate a loyal base that, in turn, patronizes them, to the tune of several thousand dollars a month. In contrast, last year, 97 percent of Spotify’s artists earned less than $1,000. Continue reading Twitch’s Business Model Lets Musicians Monetize Fan Loyalty

Google’s YouTube announced that its masthead — which appears at the top of its app and website — will no longer run ads related to alcohol, gambling, “prescription drug terms” or politics. Gambling includes sports betting and casino games, and politics references ads that endorse political candidates. According to Google, the move is aimed to “lead to a better experience for users.” The masthead is a very visible rectangle across the top of YouTube’s homepage and is usually the platform’s most expensive and desirable ad unit. Continue reading YouTube Bans Alcohol, Gambling, Politics from Masthead Ads

Since the COVID-19 pandemic struck, Amazon added 50 million Prime members and made $26+ billion in profits. Also surging, however, are fake reviews that bolster ratings for vendors but sow mistrust among shoppers. Amazon made it easier to leave a rating, such as one-tap ratings that allow the consumer to submit a star rating without accompanying text, but the attempt to instill confidence among consumers has largely backfired. Amazon’s one-day shipping has also made it much harder for small businesses to survive the transition to online sales. Continue reading Amazon Profits Rise as Do Fake Reviews and Inflated Ratings

As part of iOS 15, Apple will debut SharePlay to allow FaceTime users to stream online videos, movies and music from Apple TV or an iPad, iPhone or Mac and watch with friends while chatting — similarly to Facebook Messenger, Instagram and Houseparty. During COVID-19, the watch party feature was also adopted by Disney+, Hulu and Prime Video. SharePlay is ideally aimed at teens who are more likely to watch videos on their phones and chat. A Pew Research study showed that 59 percent of U.S. teens video-chat with friends. Continue reading Apple’s SharePlay to Power Watch Parties for FaceTime Users

The surge in online shopping due to COVID-19 allowed e-commerce giant Amazon to raise its advertising rates in May 50+ percent from a year earlier. The leap, as reported by Marketplace Pulse, is more grist for lawmakers trying to require Amazon to pay higher taxes. Amazon is expected to reap about $578 billion this year, according to eMarketer. The increased competition is leading even big brands like Procter & Gamble and Clorox to spend “billion-dollar advertising budgets” on Amazon to fend off smaller rivals. Continue reading Amazon Advertising Rates, Revenues Jump Due to COVID-19

IBM inked a five-year deal with the UK’s Science and Technology Facilities Council (STFC) to collaborate on artificial intelligence and quantum computing. The program, worth $297.5 million (£210 million) and aimed at developing sustainable technologies, will hire 60 scientists and gather interns and students to work at the newly established Hartree National Centre for Digital Innovation (HNCDI) to “apply AI, high performance computing (HPC) and data analytics, quantum computing, and cloud technologies” to research goals. Continue reading IBM Strikes 5-Year Deal with UK for AI, Quantum Computing

The FBI is investigating 100 ransomware variants, stated director Christopher Wray, who revealed that many of them trace back to Russian hackers. He noted that the cyberattacks share “a lot of parallels … a lot of importance, and a lot of focus by us on disruption and prevention” with the September 11 terrorist attacks. Most recently, a ransomware attack on Colonial Pipeline cost its operators $4.4 million to regain control and restore services (however, federal authorities recovered $2.3 million in cryptocurrency yesterday). Another attack targeted JBS, the world’s largest meat processing company.  Continue reading FBI Director Raises Alarm Over Ransomware Threats to U.S.

At Facebook’s annual F8 developer conference, chief executive Mark Zuckerberg stated that the company would “refocus” on the developer community by spotlighting technologies that “enable developers and businesses to build and grow” on its platforms. The company announced, for example, that the Messenger API for Instagram is now available to all developers. It’s also adding third-party tools to its Facebook Business Suite, which was launched last year. Going forward, PyTorch will be Facebook’s default AI platform.

Continue reading Facebook F8 Event Highlights Tools for Developer Community

U.S. movie theaters brought in nearly $100 million in ticket sales over the four-day Memorial Day weekend. The top two titles were Paramount’s “A Quiet Place Part II,” which earned $48.4 million in three days (and $57 million over the full four days) and Disney’s “Cruella,” which made $27 million in four days, after an earlier Disney+ release. This performance has been the best box office since the advent of the global COVID-19 pandemic, although it was less than half of the $232 million earned in the same holiday period in 2019. Continue reading Movie Theaters Report Upswing for Strong Holiday Weekend

LinkedIn added a “Boost” option that brands can use to maximize the reach of their posts. Any high-performing organic Page update can be turned into paid ads in this manner, explained LinkedIn, adding that if the brand sees “early traction” to an organic update, it can “capitalize on that, without having to create a new ad.” “With the click of a button and a few payment details, you can easily give your most engaging or time-sensitive content a little boost to quickly expand your audience reach,” the company added. Boost is touted as an ideal tool for content related to industry thought leadership, customer spotlights, and new product launches or special events. Continue reading LinkedIn Offers Feature for Brands to ‘Boost’ Organic Pages

Ryan Beagan, vice president of virtual production at WarnerMedia, met virtually with USC students on April 21 for the fifth installment in ETC@USC’s Spring 2021 Executive Coffee with… series. Beagan engaged a group of six students and one recent alumnus in a one-hour discussion on “The Post-Pandemic Future of Virtual Production.” Graduate and undergraduate students in computer science, industrial engineering, theater, applied data, and film and television production discussed topics including sophisticated game engines, collaborative processes and new tools, and adapting to evolving compliance rules. Continue reading ETC Executive Coffee: Warner on Future of Virtual Production

COVID-19 drove consumers to online shopping, with eMarketer reporting that global e-commerce sales grew to $4.28 trillion in 2020, from $3.35 trillion the previous year. Many advertisers shifted spending to social media platforms, according to the Interactive Advertising Bureau, which said that such ad revenue grew 16.3 percent to $41.5 billion last year and represented almost one-third of all digital advertising. Now Snap, Facebook, Pinterest and TikTok have debuted ads that use augmented reality to market products. Continue reading Snap Unveils New AR Features for Advertisers, Pushing Trend

Disney executives met virtually with USC students on April 7 for the fourth installment in ETC@USC’s Spring 2021 Executive Coffee with… series. Mark Mine, director of the Technology Innovation Group at The Walt Disney Studios, along with his Disney colleague Daniel Baker, senior producer of technology innovation – interactive experiences, engaged a group of nine USC students in a one-hour discussion on “The Future of Immersive Media Storytelling.” They discussed the “aura” of effective immersive media, the balance between game elements and narrative elements, the use of light and shadow for user interface and user experience design, and the importance of navigation. Continue reading ETC Executive Coffee: Disney on Immersive Media Storytelling

“Fortnite” creator Epic Games sued Apple over its 30 percent commission on all App Store transactions. That case is now in court, and Apple chief executive Tim Cook took the stand to defend his company against accusations of monopolistic behavior. On the sidelines are other companies with the same grievance and the European Union, which also charged Apple with violating antitrust rules with the App Store. In an hour of testimony, Cook stated that commissions from app developers help the company create better App Store security. Continue reading Apple Chief Exec Tim Cook Testifies in Trial with Epic Games