AMC Entertainment, the world’s largest theater chain, just invested $20 million in Dreamscape Immersive, a company that has been developing a virtual-reality multiplex for the last year-and-a-half for rollout in the U.S. and U.K. Other investors include Steven Spielberg, 21st Century Fox, Metro-Goldwyn-Mayer and Warner Bros. Dreamscape’s team includes former chief of Disney’s theme park design, a “Men in Black” series producer, and a live event bigwig. With AMC’s investment, Dreamscape has amassed $40 million. Continue reading AMC Invests $20M in Dreamscape, Plans to Open VR Centers

Equifax’s two cyber breaches, which exposed about 143 million Americans’ personal information, were the work of hackers who took advantage of a flaw in Apache Struts software. The nonprofit Apache Software Foundation and the U.S. Computer Emergency Readiness Team warned of the bug in early March, but Equifax only alerted its end users on September 7, almost five months later. IT experts say the event highlights the challenges in keeping software current and identifying all potentially vulnerable applications. Continue reading Equifax Breaches Spur Businesses to Prioritize Cybersecurity

The Nasdaq Stock Market is lending assistance to NYIAX (New York Interactive Advertising Exchange), a startup that is trying to stop phony publishers in the digital ad market. That’s because, according to ad verification company Adloox, these con artists divert one-fifth of annual ad spending, which equals an estimated $16 billion this year. With its blockchain-enabled platform, NYIAX hopes to put an end to the lack of transparency that leads to this significant loss. These scams have become a problem due to the rise of automated ad exchanges that instantly match advertisers with publishers. Continue reading Startup NYIAX Partners with Nasdaq to End Digital Ad Fraud

To help AI and machine learning startups succeed, Google introduced a Developers Launchpad Studio, a six-month program that will gift participants with $50,000 in financial support without a quid pro quo for Google equity. Benefits also include product credits for Google Cloud and other services, product validation assistance and introductions to AI investors. The program will also make Google director of research Peter Norvig and Israel-based Google R&D Research Center head Yossi Matias available for feedback and advice. Continue reading Google Debuts Developers Launchpad Studio for AI Startups

At the New Music Seminar conference in New York, YouTube head of music Lyor Cohen said the company plans to create a new streaming service by merging Google Play Music and YouTube Red. “Right now, YouTube’s music ecosystem is unnecessarily complicated,” suggests The Verge. “There’s YouTube Red, which removes ads from videos and lets you save them offline, while also giving you access to Google Play Music for free. Then there’s YouTube Music, which anyone can use, but it gets better if you’re signed up for YouTube Red.” The move is meant to simplify the offerings and attract more subscribers. A date has not yet been announced. Continue reading Plans Confirmed to Merge Google Play Music, YouTube Red

In an effort to help consumers better understand the benefits of Apple HomeKit products, Apple has installed interactive smart-home displays in 46 of its retail locations worldwide. Apple customers can use the Home mobile app via an Apple Watch, iPhone or iPad to perform functions such as turning on Philips Hue light bulbs and controlling Hunter ceiling fan speeds. Apple’s Home app allows users to control HomeKit-enabled smart devices from a single location (or even collectively with a single command) by tapping the screen or interacting with virtual assistant Siri. Continue reading Apple Installs Interactive HomeKit Experiences in 46 Stores

Kent Bye covers location-based VR operations, pricing structures, crowd management and throughput, and reaching the mass audience in this 30-minute Voices of VR podcast interview with the founders of VR World NYC. The new midtown Manhattan portal, which opened June 24th, features over 50 VR experiences spread over three floors in a 20,000 square foot space near the Empire State Building. Visitors pay $39 in the afternoon and $49 in the evening for unlimited stay and play. Continue reading VR World NYC Offers an Open Buffet of 50+ VR Experiences

Private equity firm Sycamore Partners has agreed to purchase office supply retail chain Staples for $6.9 billion. Staples is another retailer that has been impacted by the growing success of Amazon and other online shopping services. Amazon, for example, has become a major competitor for corporate customers, while Staples’ overall sales have declined 6.1 percent over the past five years, according to ABC News. In 2015, Staples attempted to merge with Office Depot in an effort to stay competitive online, but last year the deal was blocked by a federal judge in response to a lawsuit initiated by the Federal Trade Commission. Continue reading Sycamore Partners to Acquire Retailer Staples for $6.9 Billion

For two months, IBM, in partnership with the Tribeca Film Festival, held a “Storytellers With Watson” competition, asking for submissions of ideas on how the media and entertainment industry can use AI. Now, after an all-day pitch event at IBM’s New York-based THINKLab, the competition has a winner: filmmaker/producer Seth Grossman, whose idea is to use AI to automatically create sizzle reels. His Rip-o-matic With Watson would analyze, index and edit together “rips” from videos that express the creator’s vision. Continue reading IBM, Tribeca Award Best Idea on Applying AI to M&E Industry

A study conducted by New York digital ad agency 360i revealed that Google Home is six times likelier than Amazon Alexa to answer user requests correctly. However, consumers are much more likely to purchase the Amazon product than Google’s. Amazon currently dominates with 70 percent of the voice-controlled speaker market, says eMarketer. Amazon released its new Echo Show with interactive touchscreen this week, and according to one reviewer, it’s not much different from Android or Apple voice assistants. Continue reading Google Home Is More Likely to Answer Correctly Than Alexa

Amazon just opened its seventh bookstore, a 4,000 square foot space, in the Time Warner Center at Columbus Circle in midtown Manhattan at the heart of the publishing industry. Nearby is the site of a bygone Borders bookstore in addition to publishers such as Penguin Random House, Simon & Schuster and Hachette Book Group. Amazon has committed to opening a chain of brick-and-mortar bookstores around the country, an irony given that the company’s online sale of books is often cited as a major factor in the demise of many bookstores nationwide. Continue reading Amazon Opens Bookstore in NYC, Plans Six More This Year

In a unanimous ruling, the U.S. Supreme Court tightened rules on where patent lawsuits may be filed. The consequences, say the experts, will make it much more difficult for patent trolls to seek out friendly courts that are likely to rule in their favor. Patent trolls are companies that buy patents solely to demand royalties and sue for damages. Currently, more than 40 percent of all patent lawsuits are filed in a federal court in East Texas, with a single judge there overseeing 25 percent of all nationwide patent cases. Continue reading Supreme Court Ruling Is Likely to Suppress Patent Troll Suits

The Bitcoin market, almost a decade old, is now skyrocketing in value. Behind Bitcoin’s rising price are investments by Japanese investors and a heightened perception of global perils. Over the weekend, according to the website CoinDesk, the price of Bitcoin reacted to a sudden spell of speculative investment, trading above $2,200 on Monday, which represents more than 15 percent from the closing price of $1,913 on Friday. Bitcoin is up 397 percent from a year ago and 130 percent this year. Continue reading Bitcoin Market Trending Upwards, But Ethereum On the Rise

Facebook just disclosed the meaning of the rocket ship icon next to the News Feed tab. According to the company’s News Feed head Adam Mosseri, the rocket ship is an experiment that connects a small number of users with people and pages they do not like or follow. At Variety’s Entertainment and Technology Summit, Mosseri said that the point is to expose people to stories they are interested in from sources they are not following. Facebook curates the information based on an algorithm that figures out a user’s interests. Continue reading Facebook’s Rocket Icon Revealed as News Feed Experiment

Apple became the first U.S. company to cross the $800 billion barrier in market capitalization when it reached $802.72 billion yesterday (on Monday it reached $801.37 billion but dropped below $800 billion by the close). The company reached $600 billion in 2012 and $700 billion in 2015. “Google parent Alphabet Inc. is currently in second place at $658.60 billion, according to FactSet,” reports MarketWatch. “Microsoft Corp. is third, nearly $270 billion behind Apple at $533.02 billion.” Amazon.com is presently holding at $455.42 billion. Investors are optimistic about Apple’s plans to launch three new iPhones later this year to celebrate the product’s 10-year anniversary. Continue reading Milestone: Apple Is First Company to Top $800 Billion Value