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Disney’s Maker Studios Layoffs Underway As Part Of “Strategic Adjustments”

Maker Studios featured image_edited-1

EXCLUSIVE: Disney’s Maker Studios confirmed today it’s in the midst of layoffs. The digital operation isn’t saying what prompted the changes, but we heard the number of employees affected is about 30. “Maker Studios' business is constantly evolving, and after careful thought, we have decided to make some strategic adjustments – reducing staff in some areas while still actively hiring in others – to best align with the go-forward strategy of the company,” it said in a… Read

Business

Facebook Sees Growing User Engagement From Changes In Ad Loads And Video

Mandatory Credit: Photo by Miquel Benitez/REX/Shutterstock (5591773e)
Mark Zuckerberg
Mobile World Congress, Barcelona, Spain - 22 Feb 2016

Facebook execs warn that revenue growth will slow, while spending rises, as the company tries to increase the amount of time users spend on the site. The social media company owes some of its torrid revenue growth to its efforts to expand its ad load. But that will only grow “modestly” until mid-2017, slowing the pace, the company told analysts in a conference call to discuss Q2 earnings. At the same time, capital expenditures will increase “pretty substantially” to help… Read

breakingBusiness

Facebook Shares Rocket As Mobile And Video Growth Drive Q2 Earnings Beat

Facebook logo

Forget about the law of large numbers: Despite its huge size, Facebook just blew away Wall Street’s Q2 earnings forecasts — sending shares up more than 6% in post-market trading. If that holds during the trading day tomorrow, it would set a new high for the stock. The number of monthly active users increased 15% vs. last year to 1.71 billion while the number of mobile users rose 20% to 1.57 billion. CEO Mark Zuckerberg says that he’s “particularly pleased with our… Read

breakingBusiness

Apple’s iPhone Sales Decline, But Not As Much As Wall Street Feared

Apple

UPDATE, 3:13 PM: Apple CEO Tim Cook just added some fuel to the speculation that he still wants to become a power in the TV business — even after being thwarted by channel owners who want to keep the existing pay TV ecosystem intact. People should think of his existing Apple TV streaming platform as “building the foundation for what we believe can be a broader business over time,” he told analysts in a conference call. “I don’t want to be more precise than that. But you… Read

breakingBusiness

Twitter Shares Fall After It Misses Street’s Q2 Revenue Expectations

Twitter

Twitter shares are down more than 8% in postmarket trading after it reported mixed Q2 results that notably fell short of analysts’ revenue expectations. The social media company had a net loss of $107.2 million, a 21.6% improvement from the period last year, on revenues of nearly $602.0 million, up 19.8%. The Street was looking for revenues of $606.8 million. Adjusted earnings at 13 cents a share topped expectations of 9 cents. But Twitter also says that it sees… Read

TV

Digital Domain Sets 360° Virtual Reality Livestream Of Democratic Convention

Digital Domain logo

Video effects studio Digital Domain is broadcasting a first-ever, free curated virtual reality livestream of the Democratic National Convention, providing four 360° camera views of the events at Philadelphia’s Wells Fargo Center today through Thursday. Highlight videos will be available on-demand throughout the convention. "Politics has always been shaped by grassroots activism, and using this new immersive technology gives everyday voters a chance to feel more connected… Read

Business

Verizon Becomes A “Significant” Media Player With Yahoo Deal, CEO Says

Verizon logo vertical

Verizon is “a small player today” in internet media compared to Google and Facebook — but with its $4.8 billion deal to buy Yahoo should “take more than our fair share” of the market’s growth, CEO Lowell McAdam told analysts today in a scheduled call to discuss Q2 earnings. Yahoo will help Verizon to become a “significant player” in addressable media — which McAdam says could be a $180 billion market by 2020. The addition of Yahoo’s mail, media, and ad analytic businesses… Read

Business

Twitter Deal Adds Baseball, Hockey, And Sports Highlights To Video Offerings

Twitter logo

Add baseball, hockey and other sports programming to the video live stream offerings from Twitter, the result of a new alliance unveiled this morning with MLB Advanced Media. Twitter picked up the right to offer weekly out-of-market Major League Baseball and the National Hockey League games for free in the U.S. (Baseball will be available in other still-undisclosed countries.) The schedules will be announced “at a later date.” In addition, streaming video network 120… Read

Business

Verizon Seals $4.8B Deal To Buy Yahoo: Report – Update

Mandatory Credit: Photo by MCP/REX/Shutterstock (1141286p)
Yahoo offices, Los Angeles, America
Various

UPDATED, 5:10 PM: It looks like Verizon has a deal to buy Yahoo. Bloomberg News reports that the communications giant is set to announce Monday that it will pay $4.8 billion for the beleaguered company’s core web business in a deal that includes some real estate. That figure is in line with analysts’ expectations. The Wall Street Journal said Yahoo CEO Marissa Mayer is not likely to have a major role after the acquisition. PREVIOUSLY, July 22: Those who once thought that… Read

Business

RealD’s 3D Projection Patents Upheld By U.S. International Trade Org

RealD

The U.S. International Trade Commission has banned the import of certain 3D movie-projection systems that it found to have violated the patents of RealD, one of the leading providers of 3D systems. The Beverly Hills-based RealD has been in a long-running patent-infringement dispute with Sherman Oaks-based Masterimage 3D and Masterimage 3D Asia, based in South Korea. In its ruling (read it here), the commission determined the appropriate remedy is a limited exclusion order… Read

Business

Feds File Copyright Charges Against Owner Of World’s Most-Visited File-Sharing Site

Kickass Torrents logo

The same day the U.S. Justice Department dropped the hammer on Wolf of Wall Street producer Red Granite, it is going after the owner of the world’s most-visited illegal file-sharing site. The U.S. government has filed copyright-infringement charges against Atrem Vaulin, a Ukrainian who it says runs Kickass Torrents, or KAT. He was arrested today by local authorities in Poland, and the U.S. will seeks his extradition. The government says KAT since 2008 has enabled users to… Read

Business

Netflix Investors Wonder: Are Soft Q2 Sub Numbers A Blip, Or Sign Of Trouble?

Netflix app

It’s the question that obsessed Wall Street today: Are the softer-than-expected Q2 subscriber numbers, and disappointing forecast for Q3, that Netflix reported last night simply a blip from publicity surrounding a price increase announced last year? Or are they a sign that customers don’t love Netflix as much as Wall Street thought — and are open to switching to competitors including Amazon Prime and Hulu? Investors are worried. They shaved $5.6 billion off of the company… Read