Snap is introducing a video-sharing feature called Spotlight designed to help its Snapchat app better compete with TikTok and Instagram Reels. Spotlight allows the creation of content that could go viral, a marked difference from its long-time focus on communication between friends and curated posts. Snap will spend $1+ million a day to reward those who post the best content and highlight top snaps to its 249+ million daily users in a feed they can swipe or tap. With Spotlight, Snap hopes customers increase the time they spend on the app. It also opens the door to advertising. Read more

With the coronavirus pandemic, more people are staying at home and, according to Newzoo, 700+ million of them are playing video games on consoles. The market research firm said the console industry is slated to rake in $45 billion in revenue this year. Microsoft and Sony have unveiled new consoles, and Niko Partners analyst Daniel Ahmad stated that consoles are a “much more profitable business” than a decade or more ago, especially since digital distribution of games enables the game companies to enjoy bigger profit margins than before. Read more

New Mexico governor Michelle Lujan Grisham, Albuquerque mayor Tim Keller and Netflix co-chief executive Ted Sarandos stated that the streaming giant will spend $1 billion on production spending in the state. The company plans to expand its ABQ Studios, adding 300 acres and as many as 10 stages, production offices, backlots, commissary and other buildings to the existing facilities. The increased spending will also create an estimated 1,000 production jobs over the next ten years and 1,467 construction jobs to build the studio expansion. Read more

To help businesses hold paid digital events during the COVID-19 pandemic, Apple stated that companies offering virtual events or digital classes via iPhone apps won’t have to pay the 30 percent commission fee ordinarily applied to App Store in-app purchases. This concession will extend through the end of June 2021. Apple will also reduce its commission for smaller developers. Meanwhile, Epic Games, which with other developers has been fighting Apple over its in-app commission fee, now has an ally in Nvidia. The GPU and gaming company is testing its GeForce NOW gaming platform on Apple’s iOS mobile operating system. Read more

The ongoing coronavirus pandemic has changed the holiday season in ways big and small. Macy’s Thanksgiving Day Parade is still on, but without spectators, just a sign of the times for the merchant evolving to a primary digital presence. Last month, two Macy’s stores, in Delaware and Colorado, became fulfillment centers rather than places to shop. Other retailers, among them Ralph Lauren, Gap and Clarins Group, are opening virtual stores that create a consumer experience; some are slated to stay online for months after Christmas. Read more