Popular game streaming service Twitch — owned by parent company Amazon — plans to shrink the amount of subscription revenue it shares with top creators. After earnings surpass $100,000 in a 12-month period, the split with these premium streamers will reduce from 70/50 to 50/50, the same subscription share Twitch makes available to all streamers. The change goes into effect in June 2023, but Twitch stars are already rebelling. Having already lost a number of top creators to YouTube Gaming, Twitch potentially finds itself in a precarious position. Continue reading Twitch to Reduce Revenue Sharing with Premium Streamers

U.S. audiences have been showing up at theaters to see summer blockbusters, a happy plot twist for an industry that saw the bottom fall out during the height of the COVID-19 pandemic. Films such as Paramount’s “Top Gun: Maverick” and Universal’s “Jurassic World Dominion” and “Minions: The Rise of Gru” have proven that despite the surge in streaming, audiences will trek out of the home for content that rises to the level of an event. “There’s no question that we’re coming back — in relevance, and in actual behavior,” said Warner Bros. domestic distribution president Jeff Goldstein. Continue reading Summer Blockbusters Bringing Moviegoers Back to Theaters

The decentralization that promised to make cryptocurrencies accessible, transparent, and an everyman’s investment dream has turned into a nightmare for many. While professional investors have largely done well shorting blockchain stock, other individuals haven’t been as successful. Fortune wrote of “crypto carnage” in a market that has so far lost $1 trillion in this year’s market selloffs. Bitcoin has lost about 50 percent of its market value this year, while Ethereum has fallen by 56 percent since January. Last week, the European Union advanced a framework for crypto-assets that includes consumer protection and safeguards against cybercrime. Continue reading EU Advances Crypto Regulation in Face of Small Investor Pain

A Facebook team researching user well-being found that 1 in 8 users engage in compulsive social media habits that impact work, sleep, parenting or relationships, an analysis of recently released company documents suggests. The potentially harmful behavior, said to be categorized as “problematic use,” is comparable to what is also known as “Internet addiction.” Researchers said while some users lack control over disengaging from Facebook, the behavior isn’t considered “clinical addiction” because it doesn’t impact the brain the same way as habits like gambling or substance abuse. The research also referenced compulsive behavior among users of other social media apps. Continue reading Research Highlights Effects of Social Media on Mental Health

DraftKings has agreed to acquire Golden Nugget Online Gaming for $1.56 billion in stock, with the latter’s shareholders receiving 0.356 DraftKings shares, a roughly 53 percent premium to Golden Nugget Online’s stock. On the news, Golden Nugget Online shares skyrocketed almost 48 percent, but DraftKings’ remained relatively flat. The deal, which will bring 5 million online casino customers to DraftKings’ ecosystem, has been approved by both companies’ boards and is slated to close in the first quarter of 2022. Continue reading DraftKings to Purchase Golden Nugget Online for $1.56 Billion

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

The People’s Bank of China (PBOC), the country’s central bank, introduced a digital currency known as DCEP (Digital Currency Electronic Payment), which it said will share some features of bitcoin and Facebook’s Libra. It’s being internally tested in four large cities — Shenzhen, Suzhou, Chengdu and Beijing satellite city Xiong’an — aimed at improving its functionality and, in part, to prepare for the 2022 Winter Olympics in Beijing. The PBOC started its digital currency research in 2014. Continue reading China Launches Test of DCEP Digital Currency in Four Cities

In a Federal Trade Commission workshop, Nintendo, Microsoft, and Sony, the biggest game console manufacturers, have vowed to self-impose regulations requiring video game developers to disclose the odds for loot boxes. The FTC is looking at loot boxes, a system in which players buy “random” packages of in-game items without knowing the odds of getting items they actually want. The trade group Entertainment Software Association (ESA) plans to add warning labels and other policies related to loot boxes. Continue reading Game Industry Takes Steps to Address Loot Box Concerns

In the United Kingdom, gambling operators make big money on what’s called in-play wagers — second-by-second action on when a goal is scored, where it lands in the net and who had the assist. U.S. gambling operators may have to follow suit since the Supreme Court struck down a federal ban on sports betting, opening the gates to states getting in on the action, via TV broadcasting. Now betting operators, from casinos to websites and phone apps, need to be able to beat TV’s 5-to-10 second delays. Continue reading With Legal Sports Betting, Data Rises in Value and Conflict

The Supreme Court’s ruling now permits states to make their own decisions about legal gambling on sporting events. For media and advertising companies, the ruling could also be a boon to their bottom line. With gambling, viewers will want to follow live sports in greater detail, and expanded sports coverage means more advertising dollars. In anticipation of such legalized gambling, media executives are mulling over ideas for programming on their digital platforms that include more stats and betting options. Continue reading Media Outlets See Advertising Boon in Legal Sports Gambling

The U.S. Supreme Court, in a 6-3 opinion written by Justice Samuel Alito, struck down the 1992 Professional and Amateur Sports Protection Act (PASPA), a federal law stipulating that states could not “sponsor, operate, advertise, promote, license, or authorize” sports gambling. The ruling, which sided with a challenge brought by New Jersey, now opens the door for states to allow legal gambling, upending an over-25 year ban. The major sports leagues have responded positively and enthusiastically to the new status quo. Continue reading U.S. Supreme Court Rules States Can Allow Sports Gambling

The Chernin Group (TCG), headed by Peter Chernin, has created the Action Network, a subscription-based sports analysis and media company for gamblers and fantasy-sports players. The Action Network melds three TCG-acquired companies: Mark Cuban-backed FantasyLabs, Sports Insights and Sports Action. Employees of those three companies will join the Action Network, and their founders will also be involved in key positions. Former ESPN executive Chad Millman is the new group’s head of media. TCG is the new firm’s primary investor, although it declined to state a dollar figure. Continue reading TCG Forms Subscription-Based Company for Fantasy Sports

MGM Resorts International is getting into the e-sports business, converting a shuttered nightclub into a permanent venue for e-sports competitions beginning next year. It’s not alone, as several U.S. casinos are turning to e-sports as a way to attract younger tourists and pump up growth. Downtown Grand in Las Vegas and Caesars in Atlantic City are two others that are opening up e-sports attractions. Other casinos on the Las Vegas strip are looking to restaurants and entertainment to jumpstart revenue growth. Continue reading Casinos Face Decline in Gambling Revenue, Turn to E-Sports

The Department of Justice officially charged four people yesterday in connection with Yahoo’s 2014 data breach that reportedly resulted in the theft of data from 500 million Yahoo accounts. According to the indictment, the Russian government used the data obtained by two intelligence officers (Dmitry Dokuchaev, Igor Sushchin) and two hackers (Alexsey Belan, Karim Baratov) to spy on White House and military officials, bank executives, cloud computing companies, a senior level airline official, a Nevada gaming regulator, as well as Russian journalists, business execs and government officials. Continue reading U.S. Claims That Russian Hackers Were Behind Yahoo Attack

Former rivals DraftKings and FanDuel announced they plan to merge their daily fantasy sports operations into one company, to be run by DraftKings CEO Jason Robins. FanDuel chief exec Nigel Eccles will become chairman. The board will include three directors each from DraftKings and FanDuel, plus an independent director, while headquarters will be divided between New York and Boston offices. The deal, which aims to increase innovation by freeing up money, is expected to close during the second half of next year. Continue reading Daily Fantasy Sports: FanDuel and DraftKings Agree to Merge