Massachusetts-based editing software and services company Avid Technology has entered into an agreement with an affiliate of private equity firm STG for an all-cash transaction valued at approximately $1.4 billion, including Avid’s net debt. Unanimously approved by Avid’s board of directors, the deal is expected to close during the fourth quarter of 2023. Upon completion, Avid will become a privately-held company and its stock will no longer be traded on the Nasdaq exchange. The transaction, which will be financed through equity and debt financing, is subject to Avid stockholder and regulatory approvals. Continue reading Private Equity Firm STG Plans to Acquire Avid for $1.4 Billion

Intel has debuted FakeCatcher, touting it as the first real-time deepfake detector. capable of determining whether digital video has been altered to change context or meaning. Intel says FakeCatcher has a 96 percent accuracy rate and returns results in milliseconds by analyzing the “blood flow” of pixel patterns, a process called photoplethysmography (PPG) that Intel borrowed from medical research. The company says potential use cases include social media platforms screening to prevent uploads of harmful deepfake videos and helping global news organizations to avoid inadvertent amplification of deepfakes. Continue reading Intel Promises 96 Percent Accuracy with New Deepfake Filter

Netflix is embarking on an experiment in interactive online storytelling with children’s programs “Puss in Book: Trapped in an Epic Tale” (available now) and “Buddy Thunderstruck: The Maybe Pile” (debuting July 14). With thousands of possible story paths, the shows allow viewers to choose his or own adventure. Whereas books and videogames have offered this kind of storytelling for years, it’s been difficult — and, from the point of view of the studio or TV network, not financially viable — to do so for video. Continue reading Netflix Launches Two New Interactive Digital Shows for Kids

More Americans are watching TV on-demand and over-the-top. Although some services such as Netflix and Amazon Prime are ad-free, the number of OTT ads is growing. Pivotal Research reports that smart TV viewing skyrocketed 65 percent over the last year, accounting now for 8.1 percent of TV viewing for the 18-to-49 demographic. In line with that finding, Innovid, which serves ads to TV apps and web video outlets, says the share of ads now placed on connected TVs has quadrupled in the same time frame. Continue reading As Viewing on Smart TVs Increases, Advertisers Gain Interest

Samsung’s Gear 360 virtual-reality camera will roll out at digital video confab VidCon — but only to top YouTube and other digital video content creators. After that event, Samsung will also make the $350 VR camera available for purchase for chosen creators at “select events and activations,” with a rollout to consumers planned for later in the year. With its strategy of releasing the camera to an exclusive few, Samsung hopes to jumpstart the creation of VR content and increase buzz for the upcoming consumer release. Continue reading Samsung Rolls Out Gear 360 Camera at VidCon to Select Few

Eastman Kodak went retro this week at CES with a film camera based on the Super 8 design from 50 years ago. Kodak ceased production of Super 8 cameras in 1982, once video had become more popular for recording home movies. Today, most consumers use their mobile phones or small action cams for shooting personal video. Citing the preference of some Hollywood directors to produce their movies in 35mm or 70mm, Kodak chief exec Jeff Clarke believes there are professional as well as amateur filmmakers who would appreciate the opportunity to work with film rather than video. Continue reading Kodak Shoots for Filmmakers, Students with Super 8 Camera

During his keynote presentation at CES 2016, YouTube’s chief business officer Robert Kyncl expressed continuing confidence in the growth of online video. He believes that people will spend most of their time (outside of working and sleeping) watching digital video. The executive stood by his 2012 predictions that 90 percent of all Internet traffic would be video and 75 percent of all video would be digital by the year 2020. Kyncl also explained how YouTube is evolving and planning to support high dynamic range. Continue reading YouTube Exec Stands By His Online Video Growth Predictions

Television companies have been telling their investors that the slow decline of pay-TV subscribers will continue at a gentle pace. But new studies show that cord cutting has accelerated, most likely driven by an increased number of digital video services. By 2019, almost 23 percent of U.S. households are expected to have cut the cord. Among the newest services is a Yahoo app that helps viewers find TV shows from a variety of digital services and launch the titles in the smartphone’s video apps. Continue reading Cord Cutting Gaining Steam as Digital Video Services Grow

At VidCon, YouTube chief executive Susan Wojcicki reached out to the video creator community with an array of enticements. That’s because, although YouTube may be the biggest player in user-generated content — including the properties that reach stratospheric views — the Google-owned company now has plenty of competition. Facebook, Periscope and Vine are just some of the platforms wooing video creators who have created successful properties, and YouTube unveiled efforts to keep these creators on its site. Continue reading YouTube Offers Incentives to Compete for Top Video Creators

A recent study by Hunter Qualitative Research, commissioned by Defy Media, determined that millennials prefer video available via YouTube and other digital venues as compared to traditional television because they find the content to be more relevant and enjoyable. Digital content also feels more real to them. The study, conducted in the fall of 2014, found that consumers 13-24 years of age spend 11.3 hours watching free online video in a typical week. The same group watches a weekly average of 8.3 hours of regularly scheduled TV. Continue reading Younger Consumers Find Digital Video More Relevant Than TV

Millennials have more smartphones than any other age group in the U.S., currently at 85 percent. Statistics show that nearly 43 percent of these users opt for iPhones while 52 percent prefer Android devices. The choice to use Android is based on cost rather than software or hardware. Millennials spend 37 hours per month on their phones, most commonly engaged with social networking, entertainment and messaging. Users 25 to 44 use the most apps, an important statistic for developers. Continue reading Millennials Represent the Largest Number of Smartphone Users

The U.S. video entertainment market — including pay TV, box office, Blu-ray, DVD, video-on-demand, and paid-for online video — is getting ready to reach an all-time high. According to a new report from researcher Futuresource Consulting, the market is expected to make $123 billion in retail value in 2015. Futuresource notes that the video market reached $120 billion in 2013, a 2 percent increase over the previous year. Per household spending on video in the U.S. is the highest in the world. Continue reading U.S. Spends More on Digital Video Than the Rest of the World

A coalition of Hollywood studios is reportedly close to a deal that will help keep Eastman Kodak in the business of manufacturing film stock, despite the entertainment industry’s move to digital production. Prior to the studios’ promise to keep purchasing film, Kodak was considering closing its manufacturing facility in Rochester, New York. Quentin Tarantino, Christopher Nolan, Judd Apatow and J.J. Abrams were among the notable filmmakers who reportedly lobbied studio heads to save film. Continue reading Filmmakers Lobby Hollywood Studios to Help Save Kodak Film

A recent study from IPG Media Lab and digital advertiser YuMe indicates that consumers remember ads better after viewing them on tablets as compared to smartphones, PCs or TVs. The study suggests that the improved ad recall is because viewers tend to watch videos on tablets when they’re at home and they do not multitask the way they do when watching TV. In an unrelated poll of ad execs, IAB found that a majority plan to shift their budgets from TV to digital video ads. Continue reading TV Advertising Feels the Heat of Video Ads on Mobile Devices