Business

Dec

08

2021

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By Troy Warren

Roku, YouTube Ink New Deal, Bringing YouTube TV Back to Streaming Platform

Business, DigitalBusiness, Digital, Roku, YouTubeTV

BY ALEX WEPRIN | HollywoodReporter.Com Troy Warren for CNT #Business #Digital The companies had been in a bitter public dispute since April, and with a deal for the main YouTube app set to expire Thursday. After a bitter, public, months-long dispute, Roku and Google have come to terms on a new multi-year distribution agreement, which covers both YouTube and YouTube TV. The new deal will return the YouTube TV app to Roku’s store, and will keep the main YouTube app from being pulled from the platform (the companies had warned that the app would be pulled from Roku’s store on Dec. 9 if they couldn’t come…

Dec

08

2021

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By Troy Warren

Major outage at Amazon disrupts businesses across the US

Business, Editors Picks, In The NewsAmazonWebCloudServices, Business, EditorsPicks

By FRANK BAJAK and BARBARA ORTUTAY, Associated Press Troy Warren for CNT #Business #EditorsPicks Amazon’s cloud-service network suffered a major outage Tuesday, disrupting access to many popular sites A major outage in Amazon's cloud computing network Tuesday severely disrupted services at a wide range of U.S. companies for more than five hours, the latest sign of just how concentrated the business of keeping the internet running has become. The incident at Amazon Web Services mostly affected the eastern U.S., but still impacted everything from airline reservations and auto dealerships to payment apps and video streaming services to Amazon's own massive e-commerce…

Dec

04

2021

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By Troy Warren

Former Netflix Engineer Sentenced to Two Years in Prison for Insider Trading

Business, In The NewsBusiness, Netflix, SungMoJun

BY J. CLARA CHAN | HollywoodReporter.Com Troy Warren for CNT #Business Sung Mo Jun, 49, was also given a $15,000 fine for leading an insider trading ring that brought in more than $3 million in profit based on information about Netflix's subscriber growth. A former Netflix engineer was sentenced to two years in prison and given a $15,000 fine for his role in leading an insider trading ring based on private information about the streaming giant’s subscriber growth, the U.S. Attorney’s Office for the Western District of Washington said on Friday. The former engineer, Sung Mo Jun, pleaded guilty to securities fraud in August. During…

Dec

03

2021

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By Troy Warren

US employers added a sluggish 210,000 jobs in November

BusinessBusiness, USEmployers

By CHRISTOPHER RUGABER, Associated Press Troy Warren for CNT #Business America’s employers slowed the pace of their hiring in November, adding a still-solid 210,000 jobs, the fewest in nearly a year WASHINGTON (AP) — America’s employers slowed the pace of their hiring in November, adding 210,000 jobs, the lowest monthly gain in nearly a year. But Friday’s report from the Labor Department also showed that the nation's unemployment rate tumbled from 4.6% to 4.2% evidence that many more people reported that they had a job. That is a historically low jobless rate though still above the pre-pandemic level of 3.5%. Overall,…

Dec

03

2021

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By Troy Warren

Amazon Studios’ Elaine Paul to Join Lyft as CFO

BusinessAmazonStudios, Business, ElainePaul, LYFT

BY J. CLARA CHAN | HollywoodReporter.Com Troy Warren for CNT #Business The incoming executive is currently the chief financial officer and vp finance at Amazon Studios. Elaine Paul, the chief financial officer and vp finance at Amazon Studios, will join Lyftnext year as the ride-sharing company’s next CFO. Paul will replace Brian Roberts, who is stepping down after seven years as Lyft’s CFO. Roberts will remain with Lyft as an adviser through June 2022 after Paul begins as CFO on Jan. 3. “Lyft has an inspiring mission, a clear vision, and incredible growth opportunities,” Paul said Thursday in a statement. “I’m thrilled to join…

Dec

02

2021

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By Troy Warren

Streaming Services to See 150M Cancellations Next Year as Churn Heats Up, Deloitte Predicts

Business, DigitalBusiness, Digital, StreamingServices

BY ALEX WEPRIN | HollywoodReporter.Com Troy Warren for CNT #Business #Digital The tech giants will need to balance subscriber acquisition with retaining existing customers to avoid losing subs. While most streaming services are still trying to scale up, a fresh challenge is emerging for companies hoping to be viable players in the market: large-scale churn. The global consulting firm Deloitte released its 2022 technology, media and telecom predictions Wednesday, and one of them is sure to be of interest to companies that are leaders in the streaming business, or hoping to become major players. Specifically, Deloitte predicts that more than 150 million people…

Dec

02

2021

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By Troy Warren

Mercedes, Stellantis to work with U.S. firm on new batteries

Business, CarsBusiness, Cars, Mercedes, Stellantis

By The Associated Press Troy Warren for CNT #Cars #Business BERLIN — Automakers Mercedes-Benz and Stellantis announced agreements with U.S. company Factorial Energy on Tuesday to help develop solid-state battery technology that they hope could make electric cars more attractive to a mass market. <CityNEWS> Mercedes-Benz, part of Daimler AG, said it is joining forces with Factorial, based in Woburn, Massachusetts, to jointly develop batteries with the aim of testing prototype cells as early as next year. It said it is “investing a high double-digit million dollar amount in Factorial” that will give it the right to a representative on the battery…

Nov

30

2021

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By Troy Warren

Cyber Monday sales should be robust, but business cooling

BusinessBusiness, CyberMonday

By ANNE D'INNOCENZIO, Associated Press Troy Warren for CNT #Business NEW YORK — Consumers are expected to spend between $10.2 billion and $11.3 billion Monday, making it once again the biggest online shopping day of the year, according to Adobe Digital Economy Index. Still, spending on what’s known as Cyber Monday could drop from last year’s level of $10.8 billion as Americans are spreading out their deals more in response to discounting in October by retailers, according to Adobe, which analyzes more than 1 trillion visits to U.S. retail sites. Both Black Friday and Thanksgiving Day online shopping came in below…

Nov

29

2021

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By Troy Warren

Twitter CEO Jack Dorsey to Step Down, Parag Agrawal Named Successor

Business, DigitalBusiness, Digital, JackDorsey, Twitter

BY ALEX WEPRIN | HollywoodReporter.Com Troy Warren for CNT #Business #Digital Dorsey, who co-founded the social networking site, will remain on the company's board of directors through his current term, then leave the company entirely in 2022. Twitter CEO and co-founder Jack Dorsey will step down as the tech company’s chief executive. Parag Agrawal, Twitter’s CTO, will succeed Dorsey as the company’s new CEO, effective immediately. Twitter announced the news Monday, with the company’s board unanimously approving of Agrawal as Dorsey’s replacement. Dorsey will remain on Twitter’s board of directors through his current term, which runs into 2022. Once his term ends, Dorsey told staff in…

Nov

28

2021

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By Troy Warren

Why Streamers Are Stalling on Sharing Data

Business, DigitalBusiness, Digital, StreamingData

BY TATIANA SIEGEL, RICK PORTER | HollywoodReporter.Com Troy Warren for CNT #Business #Digital Success is subjective, subscriber bases vary wildly, and confusing metrics math has left Hollywood with little more to go on than "we know hot programming when we see it." Back in 2019, WarnerMedia struck a deal for its soon-to-launch streamingplatform HBO Max that secured exclusive domestic streaming rights to The Big Bang Theory for five years. The pact, which sources pegged in the billions, also included an extension of an existing syndication deal with TBS in which the comedy will continue airing on the WarnerMedia-owned network through 2028. While the syndication side…

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