1. Democratic lawmakers on Thursday introduced legislation to reinstate the lynchpin of the former net neutrality rules, which were passed during the Obama administration and prohibited carriers from blocking traffic due to its content.The proposed Net Neutrality and Broadband Justice Act, unveiled by Senators Ed Markey (D-Massachusetts) and Ron Wyden (D-Oregon) and Representative Doris Matsui (D-California), would prohibit broadband providers
from blocking or throttling lawful internet traffic, or from engaging in paid prioritization schemes.“The repeal of net neutrality was a disastrous decision that will have a lasting impact on our economy and democracy,” said Senator Markey in a statement. “This bill will restore the basic principles of net neutrality and ensure that the internet remains a level playing field for all.” Supporters of net neutrality argue that without it, providers will be able to throttle or block access to
certain websites or services, or charge extra for faster speeds. They say that could lead to a two-tiered internet system in which large corporations are able to afford faster service while small businesses and startups are left behind.
3. Roku issued a warning to investors on Wednesday, saying that its platform revenue growth would be weaker than expected due to a slowdown in TV advertising spend.The company said it expects third-quarter revenues of only $700 million, while analysts were expecting $902 million. Roku pinned the blame for the weak forecast on the current macroeconomic environment, which it said has caused a slowdown in
TV advertising spending. Investors responded to Roku's news by sending its stock prices plunging more than 20% in after-hours trading.
4. Meta Platforms’ revenue declined for the first time in its history, down 1% year-on-year to $28.8 billion in the second quarter, according to an earnings statement. Advertiser demand cooled during the period, with the slowdown viewed as broad-based versus affecting just a handful of categories. While ad impressions increased 15% in Q2 across the Facebook owner’s properties, the average price-per-ad fell 10%. The company also saw a
deceleration in user growth for its core apps. Monthly active users (MAUs) on Meta Platforms’ suite of products grew 10% year-over-year to 2.41 billion in Q2, compared to 12% growth in the prior quarter. Despite the slowdown, Meta Platforms is still generating enormous amounts of cash flow and is sitting on a huge stockpile of cash and investments, which gives it plenty of dry powder to weather an extended downturn or make acquisitions. For now, though, Meta Platforms is focused on returning
money to shareholders through share buybacks and dividends.
5. Facebook is no longer paying publishers to have their content appear on the social media site's News Tab, according to multiple reports.
The move is a big blow to news organizations, as Facebook has been a major source of revenue for them in recent years. CNN, for example, has received more than $3 million from the social media giant in 2019, while the Wall Street Journal has raked in more than $10 million. Publishers are still free to publish content on Facebook, but they will not be paid for it. The change is part of Facebook's efforts to overhaul its News Tab, which has been criticized for featuring too much content from
left-leaning outlets and not enough from conservative ones. In a statement, a Facebook spokesperson said that the company is "working with our publishing partners to create a sustainable product and business model" for the News Tab.
6. Direct-sold advertising is on the rise at Foundry, the B2B publishing giant once known as IDG. The company has made a judgment call that the value of programmatic media buying (PMG) revenue does not equate to the lost opportunity in the loss of third-party ad buys. “We’re going all in on direct sales,” said Michael Parekh, SVP, head of digital operations at Foundry. “It’s more work, but it pays off. We’re seeing CPMs that are two to three
times higher than what we were getting through programmatic. And we’re capturing more data, so we can better target our ads and measure their effectiveness.” Parekh said the company made the decision to move away from programmatic for two reasons: quality and control. “With programmatic, you lose a lot of control over who sees your ad and where it appears,” he said. “You also lose sight of who your customer is. With direct sales, you work hand in hand with your customer to make sure you’re
reaching the right people with your message.” While many companies are moving away from programmatic advertising, Foundry is one of the few that has made the move to direct sales. And it seems to be paying off: The company is seeing CPMs that are two to three times higher than what it was getting through programmatic.
7. The proliferation of smart TVs in American homes is continuing apace, according to new research from Hub Entertainment Research.
The study, which looked at TV homes in the US, found that 74% now have a smart TV, up from 61% in 2020.That growth is being driven by a number of factors, including the increasing affordability of smart TVs and the growing availability of streaming services such as Netflix and Hulu."As streaming services become more ubiquitous and as hardware prices decline, we're seeing more and more consumers make the jump to smart TVs," said Jon Giegengack, principal at Hub Entertainment Research. "That's
good news for the industry overall, since viewers are increasingly using their TVs as their primary gateway to streaming content."
8. As the smart TV market grows increasingly competitive, manufacturers are ramping up their content and ad offerings in ways that puts competitive pressure on providers of streaming media devices like Roku, Google, Apple and Amazon. LG Channels is one example of this trend. Introduced to LG's webOS platform in 2016, LG Channels has grown into one of the top six apps on webOS in the U.S. in terms of streaming hours. In fact, it averages
approximately 40% daily growth compared to other top apps on the platform. What makes LG Channels so popular? For starters, it offers a robust lineup of content, including live and on-demand TV, movies, sports, news and more. In addition, the app provides a personalized viewing experience that's tailored to each user's interests. This means that LG Channels can recommend new content based on what you've previously watched. LG Channels is also well-integrated with other LG webOS apps and
services. For example, users can easily access their favorite channels and shows from within the app's intuitive interface. Plus, they can share what they're watching with friends and family members via social media or email with just a few taps.
9. TikTok is making it easier for users to filter videos that could be deemed unsafe for younger audiences. Addressing criticism over security and user exposure to potentially harmful content, the company has already added parental controls. But the latest addition means users themselves can decide if recommended content is suitable for them or not. While the For You feed was designed to enable users to explore a range of content, they can now
choose to hide videos from the feed that are recommended to them based on their age. This means that even if a video is recommended to a user based on their interests, it won’t appear in the For You feed if it’s deemed unsuitable. TikTok says this latest change is in direct response to feedback from users who want more control over the type of content they see.
10. You.com, a new search engine that aims to take on Google's dominance, has announced that it has secured $25 million in funding.
The site, which is still in beta, promises to deliver more relevant results than Google by using a "personalized search" algorithm that takes into account the user's interests and location. You.com is the brainchild of serial entrepreneur Giorgio Balli, who previously founded online advertising company Kijiji and social network Tagged. "People are tired of Google dictating what they see," said Balli in a statement. "You.com will change that by giving users the power to control their own search
experience." The site is currently available in the United States and plans to launch in other countries later this year.
11. Twitter is currently conducting a live test of its new Status feature with some users in Australia and the US. This new feature allows users to share their current status with others on the platform. You are limited to 17 options, which are pre-determined by Twitter. You cannot add your own custom status marker at this stage of the test.
12. TikTok is getting into mobile gaming. The social video app, which is owned by Chinese tech giant ByteDance, is launching “mini-games” that can be played inside TikTok and discovered through creators’ videos, TechCrunch has learned. An email sent to TikTok creators on Wednesday morning hinted at the development, saying that the new games are “coming soon” and that the company is “looking for talented creators to help us build them.”
Details about the games are still scant, but our source said they will be simple, casual titles that can be played in short bursts. They will also only be available on mobile devices and won’t be playable on desktop. In addition to its new mini-games, TikTok is also said to be working on a standalone app for gaming. That app, which is currently codenamed “Project Card,” is planned for a global launch and would compete directly with the likes of Fortnite and PlayerUnknown’s Battlegrounds (PUBG),
our source said.