Snapchat has changed the way it pays creators through its Spotlight reward fund. Creators that use Snapchat’s TikTok clone, Spotlight, will now be paid millions per year, a source familiar with the matter told ZebethMedia. This marks the second time Snapchat has reduced the payout. In 2021, the company rewarded creators millions per week, down […]
The social platforms that power the creator economy might seem like they’re starting to slip. YouTube’s quarterly ad revenue declined 1.9% year over year, per Google parent company Alphabet’s quarterly earnings report this week. Overall, Alphabet missed analyst estimates, earning $69.1 billion in revenue, about a billion dollars less than expected. For many YouTubers, ad […]
Google has acquired Alter, an artificial intelligence (AR) avatar startup that helps creators and brands express their virtual identity, for about $100 million, a source familiar with the matter told ZebethMedia, in a push to boost its content game and better compete with TikTok. The acquisition was completed about two months ago, the source said, […]
Meta’s other bet is making Alphabet’s long-running Other Bets segment appear cheap, both in cash and market cap terms. Shares of Facebook’s parent company plummeted after the company reported huge costs and losses associated with its future-facing metaverse project, accompanied by a revenue decline that, while forex-impacted, was still far from the heady days when […]
Elon Musk told Twitter employees Wednesday that he’s not planning on laying off 75% of staff when he takes over the company, Bloomberg reports, citing “people familiar with the matter.” This is a walk back from what Musk reportedly said last week. The celebrity executive denied the previously reported number when he addressed employees at […]
On today’s quarterly earnings call, Meta founder and CEO Mark Zuckerberg was on the defensive when it comes to the company’s investment in the metaverse. Once again, the company lost over $3 billion dollars to its Reality Labs division this quarter, and Meta’s net income took a big hit. Since rebranding from Facebook to Meta, […]
Earlier this year, Meta posted its first quarterly revenue decline. Once again, Meta’s financials aren’t inspiring much faith in its investors this quarter. Meta’s revenue declined 4% year over year to hit $27.7 billion; but Meta CFO David Wehner pointed out on the earnings call today that some of this decline is owed to inflation. […]
Shortly after changing his bio to “Chief Twit,” Elon Musk posted a video of himself walking into Twitter’s San Francisco headquarters. “Entering Twitter HQ — let that sink in!” he wrote. The video depicted him walking into the office holding a sink, referencing a years-old, stale meme, as is par for the course with him. […]
Elon Musk’s on-again off-again plan to buy Twitter is on track to culminate in the billionaire taking control of the company this week. Musk is expected to close the deal by Friday, October 28, putting him officially in charge of one of the most prominent social networks in the world. Musk reportedly informed bankers of […]
Music startup Hyph announced an upcoming mobile app, which aims to be a music creation and remixing tool for everyone to use. With the creator economy estimated to be worth $100 billion, Hyph is targeting the over 50 million people worldwide who identify as content creators. Hyph allows users to create original songs by taking music […]
