Jonah Peretti’s career to date has been defined by constant reinvention. As the founder and CEO of BuzzFeed, Peretti has been at the forefront of digital media for almost two decades, navigating changes as the once small startup transformed into, at one point, a multimedia powerhouse. But as the company grows older, one question lingers: […]
Jonah Peretti helped shaped digital media — can he do it again?
Архив метки: CEO
The tech world mourns Susan Wojcicki
Susan Wojcicki, a longtime Googler who spent nearly a decade as the CEO of YouTube, passed away Friday after a two-year battle with non-small cell lung cancer. Wojcicki, who was 56, famously rented the garage of her Menlo Park home to Larry Page and Sergey Brin as they were starting Google. She then became one […]
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The tech world mourns Susan Wojcicki
YouTube continues to see ad revenue decline, 2.6% drop YOY
Alphabet reported Tuesday its latest earnings, citing that YouTube saw ad revenue fall 2.6% year over year as advertisers pulled back from the platform due to economic uncertainty. YouTube only raked in $6.69 billion in advertising revenue for the first fiscal quarter of 2023 compared to the $6.87 billion during the same period last year.
Despite the disappointing number, YouTube managed to slightly beat analysts’ expectations of $6.6 billion.
This is the third quarter in a row that YouTube’s ad revenue decreased. The downward sliding figures are a cause of concern for content creators, who look to ad revenue to earn income.
The company attempted to offer reassurance during Tuesday’s earnings call, choosing to focus on its success with the short-form video feature Shorts.
“Last year the number of channels that uploaded to Shorts daily grew over 80%. Those posting weekly on Shorts saw the majority of new channel subscribers coming from their Shorts posts,” Sundar Pichai, CEO of Google and Alphabet said.
As the platform experiences intense competition from rivals like TikTok, the company continues to focus on the Shorts to boost its growth. In November 2022, YouTube rolled out Shorts to smart TVs. Google announced in February that Shorts has reached 50 billion daily views.
“We’re seeing strong watch time, growth… monetization is also progressing nicely. People are engaging and converting on ads across Shorts at increasing rates,” added Philipp Schindler, Google’s chief business officer.
YouTube also reiterated plans to ramp up its efforts to make YouTube more shoppable. The company partnered with Shopify last year to enable YouTubers and merchants to feature products on their channels.
“Shopping on YouTube… It’s still super early days. One highlight last year, we brought shopping to more creators and brands by partnering with commerce platforms like Shopify. Now more than 100,000 creators, artists and brands have connected their own stores to their YouTube channels to sell their products. We’re excited about the potential ahead,” Schindler said.
The company confirmed to TechCrunch in November that it plans to add shopping features to Shorts.
Overall, parent company Alphabet reported $69.8 billion in revenue for the first quarter of 2023, a 3% increase from the same year-ago period.
YouTube CEO Susan Wojcicki stepped down from her role in February, taking on an advisory role across Google and Alphabet. Neal Mohan, chief product officer, is the new CEO.
In January, Alphabet cut 6% of its workforce, which affected 12,000 employees.
YouTube Shorts begins testing shopping features and affiliate marketing
YouTube continues to see ad revenue decline, 2.6% drop YOY by Lauren Forristal originally published on TechCrunch
YouTube continues to see ad revenue decline, 2.6% drop YOY
Warner Bros. Discovery promises Max will be a more personalized, technically improved streaming service
With next month’s arrival of the new streaming service “Max” from Warner Bros. Discovery, the company is also promising a revamped product experience with an expanded feature set, improved recommendations and better performance. The new service, which combines HBO Max and Discovery+ content into one offering, will gain an updated user interface that’s delivered by way of a largely seamless transition for existing HBO Max subscribers across most platforms.
However, Discovery+ subscribers will be able to continue to watch in their standalone app, if they choose, the company noted during today’s press event where it introduced the new service and its many forthcoming originals, including a new Game of Thrones series.
Of particular interest, the company openly admitted that its current HBO Max service has a number of technical shortcomings that it now aims to address with the move to Max.
“As we started this journey 12 months ago, we did a thorough assessment of our two streaming businesses, as well as the technology and products of each. And we realized that, while both were solid, they also each had important shortcomings,” said JB Perrette, CEO and president of global streaming and games, while speaking to the gathered crowd.
“In summary, we needed to do the basics much better,” he said, before spinning his mea culpa into an odd form of praise by adding, “if we got this far with some suboptimal features and experiences, imagine what we will do when we get more of it right!”
That’s certainly an interesting way to sell things, we’d say.
Perrette said the new Max service would address several key business objectives, including user engagement, retention, more regular viewership and easier, more personalized discovery of the content offerings, to name a few.
Warner Bros. Discovery to launch ‘Max’ service starting at $9.99/mo on May 23
Though the company had announced an expanded slate of new original programming earlier in the event, including new series like Big Bang Theory and True Detective spinoffs, a live-action Harry Potter, DC Comics titles like “The Penguin,” and others, the exec also acknowledged that the product itself has to do a better job at surfacing its content for subscribers.
“HBO Max has an amazing depth of content, but it’s largely unexplored because we don’t make it easy enough to find,” he said. As an example of this problem, he noted that three-quarters of its viewership came from the home screen only, while on Discovery+ the majority of usage came from other screens deeper in the app. In addition, four times as much content drives the majority of viewership on Discovery+ than on HBO Max.
Image Credits: Warner Bros. Discovery
One might argue that’s because of the nature of the programming on the respective services, where Discovery+’s lifestyle content drives repeated viewing, perhaps, compared with flagship series like “Game of Thrones” that are viewed in real time, but are not necessarily the types of shows to be rediscovered later and then rewatched. However, the company is betting that product changes will be able to improve these metrics around discoverability.
For starters, the revamped app will feature a new content navigation menu at the top that will help consumers more easily find the series and movies, as well as the new releases they may want to watch. Across the app, the company promises streamlined categories, improved content detail pages, shortcuts, dedicated brand hubs and thematic content rails, to make the app easier to explore.
HBO’s brand will still have a prominent position in this new interface, too, but will be showcased alongside the company’s other top brands that will serve as gateways to their respective content.
There will also be genre hubs to dive into different types of content and a new quick shortcut that lets users save content to a list for later viewing.
For users on the new Ultimate Ad-Free tier, the service will feature an expanded catalog of 4K UHD content, including across programming like “Game of Thrones,” “The Last of Us,” “Harry Potter,” “Lord of the Rings,” “The Dark Night” trilogy and others. This catalog will expand to include all the Warner Bros. movies released this year and in the future.
Image Credits: Warner Bros. Discovery
Plus, individual user profiles will for the first time offer more personalized experiences where users are recommended new things to watch based on their prior habits and viewing, via things like “because you watched” recommendations, suggestions of what to watch next that appear when you finish a series or movie and immersive hero images tailored to the end user. This personalized experience will extend beyond the home page, too, so users are seeing tailored recommendations across the full service.
A combination of machine learning and human editorial curation will help to drive these recommendations, Perrette explained.
Parents will be able to configure their kids’ profiles, including through the use of parental controls. While that’s not new, the revamped Max will introduce a default kids profile for its new subscribers, with options for parents to set the profile to either little kids, big kids, big kids plus, pre-teens or teens — an expanded set of kids’ tiers that goes beyond those offered by some rival services, where the “kids” experience is often aimed at younger school-age children. This tends to frustrate older kids, and teens when they outgrow cartoons and other “kids” content, but aren’t yet old enough for more adult fare, like much of what HBO offers.
Under the hood, the company touted other technological improvements focused on user retention, performance and stability.
For example, Max will proactively alert customers about failed payments through notifications and on and off-product messages, including for the first time in-app alerts on connected TVs. It also added support for PayPal as another payment option and made it easier for its marketing teams to run promotional pricing without requiring weeks of engineering work.
Image Credits: Warner Bros. Discovery
The company additionally promised updates to its core architecture to deliver “faster, more reliable, and more efficient performance.” Among the changes, Max will offer a new connected TV sign-in process where users don’t have to type in their credentials with their remote and a more dependable downloads experience.
“…We maniacally focused on app performance to get our customers watching their content as fast as possible,” Perrette said. “So app start times, video start times, and the general navigation response times will be 20 to 30% faster, depending on which device you’re using.”
The exec said HBO Max app customers will be automatically updated to Max on May 23 when the shift is made. On most platforms, this update will happen automatically, but others will prompt users who open the HBO Max app to download the new Max app instead. It will then only be “two clicks” to continue watching, Perrette noted, as usernames, passwords, profiles, watch histories, watch rails and billing will carry over automatically. Discovery+ subscribers won’t be forced to transition apps but will be prompted at different times to try the new Max app.
Image Credits: Warner Bros. Discovery
The new service will offer three pricing tiers, starting at $9.99 per month for ad-supported, $15.99 per month to go ad-free and $19.99 per month for ad-free viewing with 4K UHD and Dolby Atmos. The latter two tiers also include offline downloads but are limited to either 30 or 100 downloads, respectively. The top-tier service also includes four concurrent streams instead of just two.
‘Game of Thrones’ fans are getting a new spinoff based on characters Dunk and Egg
Warner Bros. Discovery promises Max will be a more personalized, technically improved streaming service by Sarah Perez originally published on TechCrunch
Warner Bros. Discovery promises Max will be a more personalized, technically improved streaming service
Disney cuts metaverse division as part of broader restructuring
Walt Disney Co. has eliminated its metaverse division as part of staff cuts that promise to reduce head count by around 7,000 across the company over the next two months, reports The Wall Street Journal.
CEO Bob Iger said Monday that those layoffs would begin this week. Disney’s next-generation storytelling and consumer experiences unit, the small division that was developing metaverse strategies, looks like it’s one of the first to go.
The metaverse division is headed by Mike White, who was promoted to the role from SVP of consumer experiences and platforms in February 2022 and charged with getting Disney deeper into the web3 space. The unit aimed to find ways to tell more interactive stories in immersive formats using Disney’s extensive library of intellectual property, according to WSJ. Aside from the Disney we all know and love, that extensive library includes Pixar, Marvel and all of the Star Wars movies and shows.
All 50 or so members of the team have lost their jobs, sources told WSJ. White will remain at the company, but it’s not clear in what capacity.
The company could not be reached for comment.
Disney’s former CEO, Bob Chapek, brought White on last year with the goal of creating “an entirely new paradigm for how audiences experience and engage with our stories,” according to an internal memo. Chapek also described the metaverse as “the next great storytelling frontier” and a “perfect place to pursue our strategic pillars of storytelling excellence, innovation and audience focus.”
The hiring of White and the creation of the new metaverse unit came a few months after Facebook rebranded to Meta in an attempt to identify with the futuristic technology into which CEO Mark Zuckerberg had been pouring billions of dollars.
Iger took over for Chapek in November and, despite recent developments, seems to be bullish on the metaverse. He invested in and joined the board of Genies Inc. last year, a startup that lets users create online avatars for use in metaverse applications.
The metaverse is still many years from going mainstream, which has frustrated many big tech companies that invested large sums on new entertainment formats. Despite Meta’s billions spent on the Oculus headset and building out the metaverse, there has been low user demand and general confusion among users about how to use the new technology for anything but gaming.
Last month, Disney said it would make $5.5 billion in cuts and cut 7,000 jobs as part of a broader restructuring. Like many other large conglomerates, Disney is feeling the pressure to bring costs down, and that often means cutting out expensive moonshot projects that aren’t bringing in any near-term revenue.
It’s not yet clear if Disney will continue to work on metaverse applications via other teams, since it’s a long-term bet. Zuckerberg has repeatedly asked investors to trust him, be patient and play the long game.
Disney cuts metaverse division as part of broader restructuring by Rebecca Bellan originally published on TechCrunch
Disney cuts metaverse division as part of broader restructuring