TikTok-Oracle Deal Rests on Data Security, Ownership Details

In its deal with Oracle, ByteDance is angling for majority ownership of TikTok. “Conceptually, I can tell you I don’t like that,” responded President Donald Trump, who is still in favor of U.S. majority ownership of the app’s operations. Although Trump admitted he hadn’t been briefed on the specifics of the deal, Senate Republicans and others are concerned that it falls short of the original goal. A source stated that Treasury Secretary Steven Mnuchin aims to ensure that U.S. ownership is “well over 50 percent.” Meanwhile, the Commerce Department, at President Trump’s direction, announced this morning that TikTok and WeChat will be banned from app stores in the U.S. beginning on Sunday. Continue reading TikTok-Oracle Deal Rests on Data Security, Ownership Details

China Presents Global Security Initiative to Counter U.S. Plan

Chinese foreign minister Wang Yi debuted an initiative to create standards for global data security, one month after the U.S. introduced the “Clean Network” program to protect data from “malign actors, such as the Chinese Communist Party.” U.S.-China relations have been deteriorating over trade issues and U.S. claims that Chinese technology threatens U.S. national security. Wang stated that “a certain country” is “bent on unilateral acts” and that “such blatant acts of bullying must be opposed and rejected.” Continue reading China Presents Global Security Initiative to Counter U.S. Plan

TikTok Takes a Stand, Stating Intent to Sue Trump Over Ban

Next week, TikTok plans to file a suit against the Trump Administration over its executive order to block the app, claiming that it has been “unfairly and incorrectly treated as a security threat.” TikTok spokesperson Josh Gartner noted that, “for nearly a year we have sought to engage in good faith to provide a constructive solution … what we encountered instead was a lack of due process.” TikTok is also trying to encourage its 1,500 U.S.-based employees, while putting aside plans to hire 10,000 more and open new offices. Continue reading TikTok Takes a Stand, Stating Intent to Sue Trump Over Ban

Trump’s Orders Ban U.S. Transactions With TikTok, WeChat

The Trump administration released two executive orders late last week barring transactions with WeChat and TikTok “by any person or involving any property subject to the jurisdiction of the United States.” The orders go into effect in 45 days, essentially creating a deadline for Microsoft to complete its deal to acquire the Chinese app TikTok by September 15. As he has in the past, President Donald Trump accused Tencent’s WeChat and ByteDance’s TikTok of funneling U.S. consumers’ data to the Chinese Communist Party. Continue reading Trump’s Orders Ban U.S. Transactions With TikTok, WeChat

TikTok Counters Critics, Regulators With More Transparency

TikTok chief executive Kevin Mayer published an open letter aimed at regulators intent on curbing its reach. After listing some of the app’s accomplishments in its thus-far short term in social media, he focused on charges critics are levying. He admitted that, “with our success comes responsibility and accountability,” but insisted that the company is made up of “responsible and committed members of the American community that follows U.S. laws.” The company has launched an effort to win over critics with increased transparency. Continue reading TikTok Counters Critics, Regulators With More Transparency

Pricey Infrastructure Necessary for Success in Cloud Gaming

In the past two years, nearly every major gaming and technology company has debuted a cloud gaming service, from Microsoft’s xCloud and Sony’s PlayStation Now to Google’s Stadia, Nvidia’s GeForce Now and Tencent’s Start. Even Amazon and Facebook are reported to be considering launching cloud gaming units. Behind the scenes, many experts said that, as cloud gaming grows in popularity, the result could be a so-called infrastructure arms race. Worldwide, there are approximately 2 billion gamers. Continue reading Pricey Infrastructure Necessary for Success in Cloud Gaming

Snapchat Aims to Compete With AR-Centric Digital Platform

Snap is planning to compete directly with Apple, Facebook and Google by creating a complete digital platform, with an app store, expanded games service and ability for third-party developers to build augmented reality experiences with its machine-learning models. Further, Snap is permitting other apps to integrate its camera software and include businesses and users’ friends into its maps. Snapchat has grown to 229 million daily users, versus Twitter’s 166 million, but is still smaller than Instagram and Facebook. Continue reading Snapchat Aims to Compete With AR-Centric Digital Platform

Chinese Cities Invest in National Campaign for Advanced Tech

China’s Ministry of Industry and Information Technology will invest at least $1.4 trillion in the next five years in advanced technologies; more than a dozen Chinese municipalities this year pledged 6.61 trillion yuan ($935 billion) to achieve this goal, for projects on artificial intelligence, data centers and mobile communications. The country’s BeiDou navigation network will be complete this month when the final satellite goes into orbit. Premier Li Keqiang said the campaign is the Communist Party’s top priority. Continue reading Chinese Cities Invest in National Campaign for Advanced Tech

ByteDance Building a Gaming Division to Take On Tencent

ByteDance has quickly built up a gaming division to enter a mobile arena currently dominated by Tencent Holdings. The company purchased gaming studios and exclusive rights to title distribution as well as building a team of 1,000 people by hiring and poaching talent. Its first two games will be released this spring to a global market. ByteDance first debuted Toutiao, a Chinese news aggregation app and launched TikTok and its Chinese version Douyin. Via the latter app, ByteDance has access to 400 million daily active users. Continue reading ByteDance Building a Gaming Division to Take On Tencent

Riot Games to Produce Show Based on ‘League of Legends’

Riot Games co-founder Marc Merrill built “League of Legends,” a monster video game that draws up to 8 million concurrent players daily and has reaped billions of dollars. But, tired of being disrespected by the broader culture as a game maker, Merrill has come up with a way he hopes will minimize the negative judgment: expand beyond the video gaming world to produce a TV show, “Arcane.” The two “Angry Birds” films earned a combined $500 million at the box office and “Assassin’s Creed” made $240.6 million. Continue reading Riot Games to Produce Show Based on ‘League of Legends’

8K Association Announces Performance Specs For 8K TVs

The 8K Association (8KA), a non-profit organization open to any company in the 8K value chain, determined and released the “key performance attributes” for consumer 8K televisions. The attributes were chosen in partnership with the association’s membership of leading consumer electronics brands, TV panel manufacturers and others in the 8K ecosystem. 8KA executive director Chris Chinnock noted that reaching this “milestone is a great testament to the cooperative spirit the members of the 8K Association enjoy.” Continue reading 8K Association Announces Performance Specs For 8K TVs

Newzoo Forecasts U.S. Will Top Gaming Market This Year

According to market research company Newzoo, the United States is on the cusp of becoming the world’s top gaming market at $36.9 billion, the first time since 2015, and supplanting China. Newzoo said its forecast isn’t due to the 2018 freeze on gaming licenses in China, but rather is a reflection of “new console users and in general massive growth in console spending” on both Sony PlayStation and Microsoft Xbox. Newzoo senior market analyst Tom Wijman points out that about 50 percent of U.S. game revenues come from consoles. Continue reading Newzoo Forecasts U.S. Will Top Gaming Market This Year

Trade War with China Could Impact Hollywood’s Box Office

In the ongoing U.S.-China trade war, Hollywood is feeling the impact, as the Beijing-based government has begun to limit Hollywood’s ability to sell its entertainment products. Four people who do business in China or closely follow its relations with Hollywood are commenting to the press on the worsening relationship. China, currently the world’s second-largest film market, requires government approval for film distribution. “I don’t want to use the words ‘total freeze,’ but it’s real,” said SK Global head and “Crazy Rich Asians” producer John Penotti. “They’re not saying it officially, but the industry is operating as if it’s close to a total shutdown.”

Continue reading Trade War with China Could Impact Hollywood’s Box Office

Bond’s Meeker Predicts Our Digital Future in Annual Report

At Code Conference 2019 in Scottsdale, Arizona, Bond Capital general partner Mary Meeker delivered her annual, highly anticipated Internet Trends Report. The 333-page slideshow looked at trends from the growth of Internet ad spending to digital delivery services in Latin America. One eye-opening fact she reported is that about 51 percent of the world, equaling 3.8 billion people, used the Internet in 2018, up from 49 percent (3.6 billion) the previous year. Smartphone sales are slowing since so many people likely to be online already are. Continue reading Bond’s Meeker Predicts Our Digital Future in Annual Report

ByteDance Targets Emerging Markets With Music Service

Beijing-based ByteDance plans to debut a paid music service for its video app TikTok in fall 2019, aimed at poorer countries where the industry’s dominant services, Apple Music and Spotify, have not yet taken root. Executives at India’s two largest labels, T-Series and Times Music, reported that ByteDance has already acquired rights. TikTok and its Chinese equivalent Douyin, have been downloaded more than 500 million times; TikTok popularized the world’s No. 1 song for the past month, “Old Town Road.” Continue reading ByteDance Targets Emerging Markets With Music Service

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