Reddit Announces IPO on Heels of Expanded Deal with Google

Community message board and social news aggregator Reddit, founded in 2005, has filed to go public on the New York Stock Exchange in an IPO observers say may be complete in a matter of weeks. It is the first social media company to go public in many years, with Snap Inc.’s 2017 offering cited as the most recent stock market splash. Reddit’s bankers are reportedly seeking a $5 billion valuation, about half the $10 billion it was valued at for a 2021 private funding round. Reddit filed with the SEC the same day it announced an “expanded partnership” with Google to use Vertex AI. Continue reading Reddit Announces IPO on Heels of Expanded Deal with Google

CES 2024 Expects 130,000 Attendees and 4,000+ Exhibitors

Las Vegas becomes the global center of technology and innovation as more than 130,00 attendees, business leaders, and over 4,000 exhibitors arrive for the start of CES 2024, January 9-12. Across more than 2.5 million square feet of exhibit space and 250 conference sessions, the ETC@USC team of reporters and analysts will cover stories of greatest interest, importance, and potential impact to the future of media and entertainment. Smart TVs and next-gen displays; the latest in processor upgrades; AR, VR and XR; security; mobility and robotics are among the themes we expect to take center stage, all of which will be tied in one way or another to AI. Continue reading CES 2024 Expects 130,000 Attendees and 4,000+ Exhibitors

GenAI Lets Snapchat+ Subscribers Create and Share Images

Snapchat+ is rolling out new artificial intelligence features that let subscribers use text prompts to create generative AI images to share with friends. In addition, the Dreams feature, which creates generative AI selfies, is now able to add your friends to those photos. Snapchat+ subscribers get one pack of 8 Dreams per month as part of their $3.99 monthly fee. An onscreen button labeled “AI” lets subscribers access the AI image generator to choose from a menu of prompts (including “sunny day at the beach” and “planet made of cheese”) or they can enter their own descriptions. Continue reading GenAI Lets Snapchat+ Subscribers Create and Share Images

Standalone Image Generator Is Among New AI Tools by Meta

Meta Platforms is moving Imagine with Meta from its test bed as a generative AI experience in chats to a standalone experience on the Web that allows users to create high-resolution images using natural language text prompts. That is one of more than 20 generative AI features Meta is deploying to create new business opportunities globally leveraging AI across search, ads, business messaging and more. While most will wind up on Facebook, Instagram, Messenger and WhatsApp, some say Meta’s popular Facebook and Instagram platforms have plateaued at 2 to 3 billion users per month, circumscribing ad growth. Continue reading Standalone Image Generator Is Among New AI Tools by Meta

Snapchat Latest Social Site to Link Amazon for In-App Sales

Amazon continues its push into social shopping, partnering with Snapchat to allow sale of some products to U.S. users directly through the app. Amazon’s Snapchat ads will display real-time pricing, Prime eligibility and delivery estimates, as well as product details. Snapchat users will be able to link their Amazon accounts via a one-time set-up, with purchases defaulting to their preferred Amazon payment method and shipping address (unless otherwise specified). Both Amazon products and those through the e-commerce giant’s independent sellers will be included in the program. Continue reading Snapchat Latest Social Site to Link Amazon for In-App Sales

Snap Adds ChatGPT and Other New Tools to AR Lens Editor

Since Snap released its Lens Studio tool in 2017, creators have become “the fuel of Snap AR,” the company says by way of announcing Lens Studio 5.0 Beta, representing a major overhaul of the editor. The development tool now includes a ChatGPT API, improved version control, and more support for teams. The company also launched a Lens Performance Toolkit to help optimize reach and engagement. Performance optimization has resulted in load times that are 18x faster, Snap says, noting “a project that used to take 25 seconds to open now only takes seconds — resetting the bar for productivity.” Continue reading Snap Adds ChatGPT and Other New Tools to AR Lens Editor

Captions Debuts AI Lipdub with Translation and Gen Z Slang

Captions, which leverages AI to help its customers produce “studio quality videos directly from their mobile devices,” has launched a new app called Lipdub that automatically translates and dubs content into 28 languages. The free download lets user dub anyone “and experience familiar voices and faces in a suite of new languages.” Lipdub’s translations not only duplicate what the company says is “the subject’s exact voice,” but also syncs lip movements to match. It also incorporates dialects and idioms, with options like Gen Z and Texas slang. Continue reading Captions Debuts AI Lipdub with Translation and Gen Z Slang

Disney+, Maybelline Sign Up for Snapchat’s ‘Phantom House’

With internal Snapchat data indicating 80 percent of its members plan to use the service during Halloween activities, the platform was eager to scare up a special treat. What it came up with is an immersive original series called “Phantom House.” Disney+ and Maybelline are among the first sponsors to sign-up for the weekly installments spanning across Snap’s Chat, Camera, Stories and Spotlight tabs. “’Phantom House’ will come to life during Advertising Week New York through an out-of-home takeover” that includes a live activation, according to Snap. Continue reading Disney+, Maybelline Sign Up for Snapchat’s ‘Phantom House’

Search Stays Strong and YouTube Rebounds in Alphabet Q2

Alphabet posted a strong second quarter, with Google Cloud revenue climbing 28 percent year-over-year, to $8.03 billion, and overall revenue gaining 7 percent, to $74.6 billion, exceeding analyst expectations, as did the $18 billion in net income. Google Search ad sales grew by nearly 5 percent, to $42.6 billion, while ad sales from Google’s YouTube streaming platform rose almost 4 percent, to $7.7 billion. YouTube had in recent quarters sustained revenue declines, attributed to increased competition from TikTok and others, but was finally able to reverse the downward trend. Continue reading Search Stays Strong and YouTube Rebounds in Alphabet Q2

Snap’s Ad Revenue-Sharing Draws Creators Back to Platform

After significantly curbing its creator payout program, Snap Inc. has largely rejuvenated its Snapchat platform with the implementation of a revenue-sharing option that has lured back some top talent, according to reports. After a testing period that began last year, Snap in April opened to all eligible users a program that allows creators to earn a portion of revenue from ads appearing between their posts. Several thousand participants are said to have qualified for the program, in which those who achieve certain goals become eligible for “Snap Star” status. Continue reading Snap’s Ad Revenue-Sharing Draws Creators Back to Platform

Music Publishers Take On Twitter for Copyright Infringements

Twitter is being sued for more than $250 million in damages by a coalition of music publishers alleging copyright violations. More than a dozen plaintiffs — including Universal Music, EMI, Kobalt and Sony — are captioned on the complaint, which was coordinated by the National Music Publishers’ Association and filed last week in federal court in Tennessee listing Elon Musk’s X Corp. and Twitter as defendants. The complaint claims songwriters are owed compensation for music-backed videos posted to the platform. The litigation is the latest financial woe for Twitter, which Musk purchased for $44 billion last year. Continue reading Music Publishers Take On Twitter for Copyright Infringements

Snapchat+ Introduces ‘My AI Snaps’ for Chatbot Snap Backs

Snapchat is rolling out a new feature for its premium Snapchat+ platform that enables users who send Snaps to My AI let the artificial intelligence know what they’re up to “receive a unique generative Snap back that keeps the conversation going” via My AI Snaps. The feature was previewed at the Snap Partner Summit in April as part of a larger push on AI updates, including the ability to invite the My AI chatbot to participate in group chats with friends and the ability to get AI Lens suggestions and place recommendations. In addition, the My AI chatbot — made free to all users this year — was updated to reply to users’ Snaps with a text-based response. Continue reading Snapchat+ Introduces ‘My AI Snaps’ for Chatbot Snap Backs

TikTok Embraces AI with Tako Chatbot, Now in Limited Tests

TikTok is floating a trial balloon of its own AI chatbot, named Tako, now testing in select markets. Tako invites users to ask questions about TikTok videos and is also designed to help with discovery and recommendations. Tako’s public testing was first reported by Israeli app intelligence firm Watchful. TikTok subsequently confirmed testing in the Philippines and said Tako tests were live in some other global markets, but said the chatbot is not yet deployed in the United States. Unlike Microsoft’s Bing Chat, Google’s Bard and Snap’s My AI, Tako seems hyperfocused on TikTok content. Continue reading TikTok Embraces AI with Tako Chatbot, Now in Limited Tests

Almost Half of YouTube Viewers Watch Video on TV Screens

Google appears to be in control of a major television network. According to internal data obtained by The Information, nearly half the time spent viewing the Alphabet company’s YouTube platform — 45 percent — now takes place on TV screens. That’s a significant increase from the 30 percent viewership the company reportedly logged for 2020. Coming on the heels of the IAB NewFronts, where digital platforms including Meta, TikTok and Snap were among those vying for advertiser attention, the story is well timed to help YouTube distinguish itself from competitors that seem focused largely on reaching mobile viewers. Continue reading Almost Half of YouTube Viewers Watch Video on TV Screens

Meta Rolls Out AR Advertising for Facebook, Instagram Reels

Meta Platforms is extending immersive experiences to brands. Facebook and Instagram Reels and Facebook Stories will soon have augmented reality brand messaging, Meta announced last week at the IAB NewFronts. Advertisers like Sephora, Tiffany & Co. and others will be able to use AR filters to market on Meta’s social platforms to reach Gen Z users. Meta is rolling out additional improvements, including third-party measurement partners for campaigns on Reels ads. Meta had previously made AR ads available in the Facebook and Instagram feeds and in Instagram Stories with what the company says is great success. Continue reading Meta Rolls Out AR Advertising for Facebook, Instagram Reels