Top Stories

Viacom to Roll Out its Own Streaming Service Later This Year

Viacom, which has hinted it might introduce a direct-to-consumer streaming service, revealed it will launch such a service by September 2018, with “tens of thousands of hours” of content from such channels as Comedy Central, MTV and Nickelodeon. The company is not, however, going to produce a dedicated cable alternative for cord cutters, as have YouTube TV, DirecTV Now, Hulu Live and Fubo. The packaging of the content will more likely be competitive with Hulu and Netflix. Pricing details were not available. Read more

Facebook to Include Breaking News Section in Watch Platform

As part of Facebook’s broader news strategy, company exec Campbell Brown announced at the Code Media conference that the social platform plans to introduce a breaking news feature to its video streaming platform Facebook Watch. The company launched Watch in August to compete in the original video space across mobile, TV apps and desktop. Content partners earn 55 percent of ad revenue and Facebook gets 45 percent. Watch is different than Facebook’s video tab in that it offers exclusive content, personalized recommendations, subscription options and more. Read more

Amazon Plans to Launch New Delivery Service for Businesses

Amazon plans to launch “Shipping with Amazon,” a delivery service that will start in Los Angeles and cater to the independent merchants that sell on its site. The company intends to expand the service to additional cities and businesses over time. But analysts conclude that Amazon would have to spend tens of billions of dollars, and buy thousands of trucks, hundreds of planes and create thousands of sorting centers to scale out to the national level and handle millions of packages daily. Read more

Uber, Waymo Settle Lawsuit for $245 Million, 4 Days into Trial

Uber Technologies has settled a year-old lawsuit brought by Alphabet’s self-driving vehicle unit Waymo, which claimed that Uber stole and used trade secrets. In the agreement, Uber said it would not use Waymo technology in its autonomous vehicles and make certain that no such Waymo components were already in use. The ride-hailing firm also agreed to give Waymo 0.34 percent of its equity, equal to about $245 million, based on a valuation of $72 billion. The companies settled four days after the trial started. Read more

MoviePass Sells $128M in Tickets for Oscar-Nominated Films

Startup MoviePass, which charges subscribers $10 per month for the option to watch one film per day in a participating theater, said it has passed 2 million subscribers. The company also reported that it was responsible for $128.7 million of the domestic box office for this year’s Oscar nominated films. MoviePass chief executive Mitch Lowe has described the math behind the company’s claim. He also has an explanation for how the company will survive its biggest economic challenge: that it loses money on any customers who sees at least two movies a month. Read more

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