While some areas of entertainment media such as the movie and music businesses are struggling to find their footing in an evolving digital landscape, the video game industry is thriving. “Grand Theft Auto V” by Rockstar Games, for example, earned $800 million worldwide in its first 24 hours of availability. That’s the largest launch day any form of entertainment media has ever experienced. Challenges involved with pirating games contribute to the industry’s success. Continue reading Video Game Industry Booms as Other Media Industries Struggle

It seems that Wall Street loves Twitter. The company set an initial public offering price of $26 late Wednesday, only to see the stock close its first trading day up 73 percent at $44.90 a share, with a session high of over $50. The rocketing IPO set co-founder Evan Williams’ stock value at $2.9 billion and co-founder Jack Dorsey’s at $1.2 billion. CEO Dick Costolo’s stock is now worth $384 million. At about $45 per share, the company is valued at $24.4 billion. Continue reading Twitter Numbers Skyrocket on New York Stock Exchange Debut

As its contracts with producers come up for renewal, YouTube is changing its terms for ad revenue splits, no longer providing major Hollywood players like CBS or Warner Bros. with special deals over smaller names such as Machinima or AwesomenessTV. Previously, YouTube offered up to 70 percent of its ad revenue to encourage film and TV producers to place content on the site. Now that YouTube has exploded in popularity, it plans to keep 45 percent of all advertising profits starting in January. Continue reading YouTube Changes Ad Revenue Split: No More Sweetheart Deals

Gaming company Nintendo released its financial results for the last three months, and the numbers are not promising. Although hardware sales have increased and handheld gaming is experiencing growth, the company has still recorded a loss. As a result of price cuts in the middle of the year, 300,000 more Wii U users have been added, but the company is still far from its goal of 9 million consoles by March 2014. At present, 3.91 million units have been sold total. Continue reading Nintendo: Handheld Gaming Strong, Losing Money with Wii U

A new video rental and streaming platform by Spondo will now let Facebook users watch and share movies on the social media site. The movies are on-demand and shareable among users — in fact, users can even earn a little commission when their friends buy a movie that they’ve shared. In celebration of Halloween, Spondo launched 200 horror movies for streaming, and it plans to add more mainstream and indie films over time. Continue reading Spondo’s Video Rental and Streaming Available on Facebook

Two of cable’s biggest programming networks, FX and Turner, have decided they want to stream all of their series’ episodes within a current season online. It’s a challenge to the industry standard, which generally allows networks to stream only the five most recent episodes online. But if this were to change, Netflix would get away with paying significantly lower rates for any show streamed elsewhere — and studios aren’t too happy about that possibility. Continue reading Cable Networks and Netflix Face Off Over Streaming Rights

Musical acts looking to attract greater attention around the time of an album release are opening “pop-up” stores, which are temporary venues that seem to surface out of nowhere. They most often are constructed in an urban location, typically in an already existing retail store of some kind, and sometimes close after only 24 hours. Various artists, such as One Direction and Bob Dylan, have recently used pop-up stores to promote music and sell merchandise to fans. Continue reading Musicians Using Pop-Up Stores to Generate Buzz for Albums

According to Twitter’s regulatory filing, the company is looking to raise up to $1.4 billion in its initial public offering with a share-price range of $17 to $20. That would value the social network at about $9.4 billion to $11.1 billion, considerably less than earlier estimates that placed it as high as $16 billion. The modest valuation suggests that the company hopes to avoid the backlash Facebook experienced with its aggressive IPO. The approach could help Twitter win investors who are wary of the network’s mobile business model. Continue reading Twitter Plays it Safe with Modest IPO, Aims to Sway Investors

Amazon is the largest online retailer, bookstore, and Web hosting company in the world — among other things — and now it’s rushing the production of its newest device, a set-top box intended to compete with online video streaming devices for television such as Roku. But despite its efforts to get the new product out on shelves in time for the holiday shopping season, the device will now likely be delayed past then, missing out on potential holiday sales. Continue reading Amazon Set-Top Box Launch Likely Delayed Past the Holidays

Social TV ads are coming to Facebook in an effort to compete with Twitter’s television advertising model. Now, advertisers will be able to reach Facebook users online at the same time an ad is running on TV. For example, an advertiser that airs a commercial on a local station in Los Angeles will be able to simultaneously target users in Los Angeles who are logged in to Facebook at the same time. And that’s some prime real estate. Continue reading Advertisers to Reach Users on TV and Facebook at Same Time

BBC Global News announced a partnership with Twitter in which original video reports will be embedded in Twitter streams through the social media platform’s Amplify program. These videos, called BBCTrending, are being hosted by Anne-Marie Tomchak and will provide viewers with the news and memes circulating on social media, following a brief preview from a sponsor. “#BBCTrending” will be distributed to @BBCWorld’s 4.8 million Twitter followers. Continue reading BBC News Partners with Twitter for In-Tweet Video Reports

Mitsubishi recently announced that it would shutter its front-projection and large-format LCD TV operations in order to focus on the company’s LCD data wall display efforts. Mitsubishi says sustained losses in recent years factored into its decision. The move follows the company’s decision last December to exit the rear projection TV business. Mitsubishi, which developed one-piece rear projection systems in the 1970s, is credited with helping to launch the large-screen TV movement. Continue reading Mitsubishi Exits Front Projection and Large Format LCD TV Biz

Netflix posted its third quarter earnings yesterday, announcing that it has added 1.3 million U.S. customers. The video service ended the quarter with 29.93 million paid domestic users. While Netflix’s latest figures suggest the service has surpassed HBO and Showtime in number of U.S. customers, the company’s profit margin remains low in comparison to leading premium cable networks. Regardless, stock was up nearly 10 percent following the earnings results. Continue reading Netflix Sees Spike in Subscriber Base, Profits Remain Slim

Vince Gilligan, the creator of the Emmy-winning series “Breaking Bad,” told BBC in a recent interview that he attributed the show’s following in part to illegal downloads. The dramatic final episode was downloaded illegally more than 500,000 times in just 12 hours — the show’s most pirated episode, according to Variety. But Gilligan also says those downloads negatively affected the people who worked on the show and earned them less money as a result. Continue reading ‘Breaking Bad’ Creator Credits Illegal Downloads for Popularity

Music downloads are on the decline, and many music executives agree that streaming services like Pandora and Spotify are likely a major cause. So far, 2013 has seen 1.01 billion track downloads in the U.S. — four percent less than this time last year. Album downloads are up two percent, however, bringing the total downfall to one percent. Streaming services, meanwhile, have seen a revenue increase of 59 percent since last year. Continue reading Music Downloads on the Decline Thanks to Streaming Services