Amazon Bests Walmart as Top Retail Seller Outside of China

Retail giant Walmart, which perfected the business model of driving down costs to dominate the market, has been surpassed by e-commerce leader Amazon, which just became the largest retail seller outside of China. Driven by a surge in online shopping during the global COVID-19 pandemic, Amazon raked in $610+ billion over the year ending in June, according to FactSet. Walmart just posted sales of $566 billion for the year ending in July. Both are eclipsed by Chinese online retailer Alibaba, the world’s top seller. Continue reading Amazon Bests Walmart as Top Retail Seller Outside of China

Verizon, AT&T and Sprint Moving Forward With 5G Service

At a J.P. Morgan investment conference, Verizon chief executive Hans Vestberg revealed that the Samsung Galaxy S10 5G is performing at 1.5 Gigabits per second. The caveat is that, per Ookla Speedtest, the company is “tightly curating” the test for reviewers, including a testing site outside of Motorola’s offices and other locations adjacent to its 5G hardware. Meanwhile, Sprint stated that it will turn on 5G in Atlanta, Dallas, Houston, and Kansas City on May 31; it opened up preorders for 5G devices on May 17. And AT&T is offering 5G to business customers in 19 cities. Continue reading Verizon, AT&T and Sprint Moving Forward With 5G Service

Amazon Inks 15-Year Lease of the Historic Culver Studios Lot

Amazon Studios just cut a ribbon on its 15-year lease of the historic 14-acre Culver Studios lot from landlord Hackman Capital Partners, which has owned the property since 2014. Hackman enticed Amazon to rent the property with a plan to invest $600 million in seven new buildings and other upgrades in the next three years. Before inking a deal for the Culver City lot, Amazon Studios had been housed in offices in Santa Monica. Amazon began moving its 700 entertainment employees into the Culver City lot in late 2017. Continue reading Amazon Inks 15-Year Lease of the Historic Culver Studios Lot

Verizon May Use Yahoo-AOL to Test New OTT Video Service

Verizon’s $4.5 billion acquisition of Yahoo’s Internet business is likely to close in mid-June, at which point the combination of Yahoo and AOL (with its 1.3 billion users) could serve as the “platform … to test out an over-the-top service,” according to Verizon CEO Lowell McAdam. The OTT offering “would be in addition to the telco’s go90 ad-supported mobile video service,” reports Variety. “Verizon has reportedly been mulling an Internet-delivered skinny bundle offering, akin to AT&T’s DirecTV Now and Dish Network’s Sling TV.” Continue reading Verizon May Use Yahoo-AOL to Test New OTT Video Service

Comcast to Roll Out its Xfinity Prepaid Services in Five States

Later this year, Comcast will debut a prepaid service similar to the plans wireless companies use to attract low-income households. Dubbed Xfinity Prepaid Services, the customer can buy TV or Internet services for seven or 30 days at a time, with a one-time equipment set-up fee. Upon completion of the term, the user can renew the service with no limitations. Xfinity Prepaid Services will first be available in Illinois, Michigan, Georgia, Florida and Indiana. Comcast will extend the service to all its customers by end of 2017. Continue reading Comcast to Roll Out its Xfinity Prepaid Services in Five States

IMAX Has New Competition in Premium Large Format Theaters

Large format theaters with over-sized high-resolution screens, more comfortable seating, and better sound systems are on the rise. IMAX has traditionally been the leader in these offerings, but competitors such as Cinemark Holdings, Regal Entertainment and AMC Entertainment have started offering their own premium large format (PLF) theaters. Last year, the three chains’ 325 PLF theaters increased revenue by 31 percent to $237 million. Continue reading IMAX Has New Competition in Premium Large Format Theaters