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Instacart cuts 250 jobs after reporting increased revenue
Instacart announced improved yer-over-year fourth quarter earnings and about 250 layoffs across the company.
Unity CEO John Riccitiello stepping down, effective immediately
Unity game developer said that John Riccitiello will step down as president and CEO of the company.
Reddit turns top contributors' Reddit Gold into real-world money
Reddit rolled out a new program today that allows the platform’s biggest contributors to earn real-world money for their virtual rewards.
Twitter finally begins paying some of its creators
Twitter’s ad-revenue sharing program for creators has officially launched — and it’s reportedly already begun paying eligible Blue subscribers. Elon Musk announced the initiative in February, but with scant details about how it would work, nobody knew quite what to expect. However, some high-profile users report today they’ve received notifications about incoming deposits — including one user claiming he’s set to receive over $24,000. The rewards are based on ads in replies to eligible users’ content.
Meta will no longer pay US publishers for news content
After Meta's revenue shrank for the first time, the company has reportedly told publishers it will no longer pay for content to run in Facebook's News Tab.
Elon Musk wants to quadruple Twitter users by 2028
Among the biggest questions on people's mind since Elon Musk made his bid to buy Twitter is how the service might change under his ownership. We're still a long way off from the deal becoming official, but Musk nonetheless has had to pitch investors on his vision for the company to get the funding he needs. As it so happens, the New York Times has obtained a copy of a pitch deck for investors, which gives us an idea of the preposterously grand vision that Musk has for the company. Here are a few highlights.
Stadia will give developers and publishers a bigger cut of sales
Google will also roll out a revenue sharing plan for Stadia Pro subscriptions.
Facebook accused of knowingly inflating its ad audience
Facebook's senior executives knew that it was overestimating the number of users its advertisers could reach, according to an amended lawsuit.
Twitter is considering subscriptions amid an advertising slump
It's in the early stages of exploring new revenue streams.
Google proposed, then abandoned, a website tipping feature
Google had been working on a tipping tool that let readers donate small sums of money to their favorite sites.
GoPro lays off 200 employees as coronavirus pandemic impacts sales
GoPro has announced that it will lay off 200 employees or around 20 percent of its workforce due to the coronavirus pandemic. It aims to reduce expenses by about $100 million by switching the majority of its business to a direct-to-consumer model.
Instagram brought in more money than YouTube in 2019
There's little doubt that Instagram is important to Facebook's bottom line, but how big is it, really? It might be larger than you think. Bloomberg sources say Instagram racked up $20 billion in ad revenue in 2019, handily eclipsing YouTube's $15.1 billion -- yes, the most popular video site on the planet wasn't as lucrative as a photo-focused social network. Instagram unsurprisingly played an important role in Facebook's finances, accounting for more than a quarter of the tech firm's ad money from last year.
Epic Games Store will keep offering free games throughout 2020
The Epic Games Store has faced something of a challenge in capturing the hearts and minds of gamers since its launch in 2018. Its continued insistence on exclusives, plus its relative immaturity compared to the likes of Steam, has seen complaints from all sides. But its hard graft is paying off, and the platform is sharing its good fortune with its fans. Today, it announced it will be continuing its weekly free game program throughout 2020 -- claim a game for free, and it's yours to keep forever.
Netflix releases worldwide subscriber stats by region for the first time
For the first time, Netflix is reporting its international business operating results by region. In a filing with the Securities and Exchange Commission (SEC), Netflix shared its streaming revenue and membership info for the US and Canada; Europe, Middle East and Africa; Asia-Pacific and Latin America. This change in how Netflix reports its earnings data highlights how important markets outside the US have become -- especially as Netflix faces new competition.
Uber Eats might start showing ads, too
You might soon see ads while you're looking for dinner in Uber Eats. The company recently posted a job listing, first spotted by TechCrunch, for an Uber Eats Ads Lead, and a spokesperson confirmed that Uber is exploring bringing relevant ads to Eats. So, while you're deciding where to order from, Uber could be tossing a few paid suggestions at you.
Sony's PS4 is the second best-selling console of all time
Sony's PlayStation 4 has become the second best-selling console of all time, surpassing the original PlayStation, which sold 102.5 million units. Sony said that it sold 2.8 million PS4s this quarter (including the PS4 Pro), on top of the 100 million mark it hit last quarter. That's down considerably (1.1 million units) from last year, but was enough to push it to 102.8 million, just above the original PS. It's not likely to catch the PS2, however, which sold 155 million units.
HBO Max can't come fast enough for AT&T
If AT&T's convoluted TV streaming options didn't convince you that the company was struggling, maybe its Q3 earnings will. According to the latest earnings report, released today, the company's revenue dropped 2.5 percent, with Warner Media revenue falling 4.4 percent, in the third quarter. It lost 1.2 million premium TV subscribers, and AT&T Now lost nearly 200,000 subscribers.
LGBTQ+ creators file lawsuit charging YouTube with discrimination
In a federal lawsuit filed yesterday, a group of LGBTQ+ video creators claims YouTube discriminates against their content. The group alleges that YouTube suppresses their videos, restricts their ability to monetize their channels and enforces its policies unevenly, giving more leeway to producers with large audiences. According to The Washington Post, the suit argues that YouTube deploys "unlawful content regulation, distribution, and monetization practices that stigmatize, restrict, block, demonetize, and financially harm the LGBT Plaintiffs and the greater LGBT Community."
YouTube offers tiered membership levels to boost creators’ revenue
Last year, YouTube took to the VidCon stage to share new ways creators could make money. This year, YouTube returned with updates to those programs. For starters, it's adding new Channel Membership levels. Since last year, fans have been able to pay a monthly fee of $4.99 in exchange for added membership perks like exclusive live streams, extra videos and shoutouts. Now, creators can set up to five different price points and offer varying perks at each tier. According to YouTube, when Fine Brothers Entertainment tested offering multiple levels, the company's membership revenue increased sixfold.
Streaming now accounts for almost half of global music revenue
Streaming has driven the US music industry for a few years. Last fall, streaming was responsible for up to 75 percent of the country's total music industry revenue. The 2019 IFPI Global Music Report, released today, shows the global scale of that trend. Streaming revenue grew by 34 percent in 2018 and accounted for 47 percent of total music revenue worldwide.
