Snap has grown daily users to 332 million, an 18 percent increase in Q1 according to an earnings report. The January through March period reflects a 38 percent year-over-year revenue increase, but also documents a net loss of $360 million. The deficit — attributed to digital advertising circumstances including Apple’s new privacy policies, the war in Ukraine and the effects of inflation — comes on the heels of Snap’s first-ever quarterly profit in Q4 2021. The Q1 results reflect “underlying momentum” against “a challenging operating environment,” said Snap CEO Evan Spiegel. Read more

Video game companies are trying to change gaming’s image and perceptions regarding who plays as part of a plan to convince Madison Avenue that games are a serious advertising vehicle. Some 700 ad execs attended the first annual IAB PlayFronts, April 5 in New York, to hear pitches by Meta, Twitch, Activision Blizzard, Unity, Riot and more. Meanwhile, companies including Comcast’s NBCUniversal and HTC are working on technology to put advertising into cloud-based and streaming video games. Elefund and DIP Capital are among those investing in insertion technology that puts brands directly into the gameplay. Read more

Former President Barack Obama sounded a warning against unregulated Big Tech in a speech last week at Stanford University near Palo Alto, California. Cautioning that the power of social media giants to curate information has “turbocharged” political polarization, Obama said the imbalance of power threatened the very pillars of global democracy itself. “Tech companies need to be more transparent about how they operate,” Obama said. “So much of the conversation around disinformation is focused on what people post. The bigger issue is what content these platforms promote.”  Read more

AT&T’s Q1 quarterly earnings — the last to include results for WarnerMedia, which was offloaded to Discovery in early Q2 — reported good news about HBO Max and HBO, which AT&T said ended Q1 with global subscribers totaling 76.8 million, an increase of 12.8 million year-over-year, and a 3 million subscription increase from Q4 of last year. AT&T also disclosed that WarnerMedia’s Q1 operating income fell to $1.3 billion, a 32.7 percent decline year-over-year. Diminished WarnerMedia earnings were attributed in part to “investments incurred in launching CNN+,” which new owner Discovery announced will cease operations as of April 30. Read more

Twitter is testing a function that allows third-party app developers to reach out to users on the platform. The beta test, which currently displays only to select users, allows apps in the “Twitter Toolbox” collection to connect with Twitter’s audience at crucial moments when user intent is its strongest — such as when they’re seeking to implement one of Twitter’s native features. For instance, if a beta test user elects to block someone using Twitter’s own safety toggle, they’ll be presented with the choice to use a  developer-built Toolbox safety offering like Block Party, Bodyguard or Moderate. Read more