Google is rolling out a suite of AI-powered marketing tools designed to help small businesses make the most of the holiday sales season. Merchants can add a “small business” attribute to their Search and Maps results and generate advertising and promotional materials using something called Product Studio. “Eighty-four percent of people say supporting local and/or small businesses is important to them, so we’re making it easier to find them on Google,” the company writes. Products and businesses with the “small business” label “will make it easier for shoppers to narrow down their searches and be intentional about shopping.” Continue reading Google Debuts Generative AI Tools Aimed to Help Merchants

President Biden has signed a far-ranging executive order establishing guardrails for artificial intelligence. Companies are now required to report to the federal government on risks related to their AI systems should they fall into the hands of terrorists or be used for weapons of mass destruction. The order also attempts to mitigate the dangers of deepfakes that could be used to manipulate elections or defraud consumers. “Deepfakes use AI-generated audio and video to smear reputations, spread fake news and commit fraud,” Biden said as he signed the order at the White House. Continue reading President Biden Signs Executive Order to Contain Risks of AI

Meta Platforms has been sued in federal court by 33 states including California and New York that claim its Instagram and Facebook platforms addict and harm children. The action is to date the most sweeping state action to contend with the impact of social media on the mental health of children. The suit, filed Tuesday in U.S. District Court for the Northern District of California, alleges Meta violates consumer protection laws by targeting children and deceiving users about platform safety. Also that day, the District of Columbia and eight states filed separate complaints addressing the same issues. Continue reading Dozens of States Sue Meta for Social Media Addiction in Kids

Netflix can chalk up another solid quarter, with Q3 revenue of $8.5 billion, up 8 percent year-over-year, with 9 million new subscribers for a total of 247 million worldwide. Netflix attributes the strong subscriber growth in part to its ongoing password-sharing crackdown. The company has now officially rolled out what it calls “paid sharing” in all regions in which it operates, reporting that there were fewer resulting cancellations than expected. Rather, it says it has largely effectuated its desired result of converting piggybacking customers into paid subscribers. Meanwhile, Netflix is raising its rates as it continues to add originals and “license titles from around the world.” Continue reading Netflix Raising Rates After Profitable Q3, Subscriber Growth

The U.S. Department of Commerce is further curtailing the ability of American companies to sell China advanced chips for artificial intelligence. The national security objective is to avoid providing Beijing with sophisticated silicon that could potentially fuel breakthroughs, giving the nation an advantage in what’s been couched as an “AI arms race.” China is a large market for semiconductors, and the move is said to be fueling tension on both sides of the globe. The new restrictions attempt to plug loopholes in rules the Biden administration introduced in October 2022. Continue reading U.S. Tightens Export Regulations for AI Chip Sales to China

Swedish fintech company Klarna, whose online payments platform claims to work with 500,000 merchants worldwide, is debuting an AI-powered shopping lens. As with in-app lens tools from Google and Amazon, the Klarna lens lets shoppers snap pictures of items or styles then use its app to find out where to buy using a “search and compare” filter. Klarna claims its camera feature can visually identify over 10 million items and match them with more than 50 million store offers. “Klarna uses AI to translate the image into a search term,” turning it into “a shoppable item,” the company explains. Continue reading Klarna AI Image Search Takes Aim at the E-Commerce Space

Recorded music revenues in the United States reached $8.4 billion for the first half of 2023, an all-time high for the period that translates to a 9.3 percent increase, according to the Recording Industry Association of America (RIAA). Streaming continued to thrive, accounting for a whopping 84 percent of the six-month revenue total, or $7 billion. Total revenue from paid subscription services grew 11 percent to $5.5 billion, nearly double the growth in the number of individual paid accounts, which rose by just over 6 percent year-over-year, to an average of 95.8 million accounts. Continue reading Streaming Drives Music Revenue in the U.S. to a New Record

With Netflix ceasing DVD rent-by-mail operations as of September 29, a market opportunity has been identified by Seattle, Washington-based independent Scarecrow Video, which wants to step into the role vacated by the streaming giant. Described as the largest remaining video retailer in the U.S., Scarecrow began experimenting with a rent-by-mail program in 2019, offering DVDs and Blu-ray Discs delivered to mailboxes across the country. While rare titles are excepted from the rent-by-mail program, and applications to participate in the program must be individually approved, Scarecrow has proclaimed the program a success. Continue reading Indie Video Store Tries to Fill Netflix DVD-by-Mail Rental Role

TikTok had a high-profile at New York Fashion Week, courting the marketing departments of companies including Gucci, Madewell and H&M at a splashy event at the East Village restaurant Cathédrale, decorated with mannequins bedecked in TikTok-inspired togs and a video wall featuring the “little luxuries” touted by TikTok users. While TikTok has succeeded in making itself a mandatory advertising outlet for many brands, the Fashion Week outreach was part of the platform’s effort to transition to a sales platform in its own right as after a year of testing it finally rolls out TikTok Shop for all U.S. users. Continue reading TikTok Shop Rolls Out to U.S. Users Following Year of Testing

Spotify and Apple are running neck-and-neck in U.S. podcasting, with various surveys showing one or the other in first place. Not wanting to be shown up by Apple, which launched new creators tools this week, Spotify followed suit at the Podcast Movement conference in Denver, announcing customization features and a new audience performance dashboard. For the first time, podcasters will be able to customize parts of their podcast landing page, adding a bio and social media handles. “Spotify is working to build a more robust podcast ecosystem that serves creators, listeners, and advertisers at scale,” said Austin Lamon, director of podcasts. Continue reading Spotify Upgrades Podcast Customization, Audience Analytics

Ransomware attacks have surged in the 12 months ending in June 2023, with the United States accounting for 43 percent of the 1,900 attacks reported — 7x greater than that of the second most popular target, the United Kingdom, at 196. The period marked a 75 percent increase in U.S. ransomware attacks, which were perpetrated by 48 different groups including CL0P, a gang believed to have ties to Russia. U.S. companies, governmental organizations and individual consumers were targeted during the period, with healthcare and educational institutions disproportionately impacted, according to a study by cybersecurity firm Malwarebytes. Continue reading U.S. Impacted by Significant Increase in Ransomware Attacks

PayPal has become the first major U.S. fintech firm to launch its own cryptocurrency with a stablecoin called PayPal USD. Issued by Paxos Trust Company, PayPal USD is 100 percent backed by dollar deposits, U.S. treasuries and cash equivalents, and will maintain a value of exactly $1, according to the company. Initially available only to U.S. customers, CEO Dan Schulman says PayPal intends to make cryptocurrency a part of its overall payments infrastructure and will soon integrate it with its Venmo mobile payment app. PayPal shares, in a slump since last year, were up 3 percent on the news. Continue reading PayPal Is First Major U.S. Fintech to Launch Own Stablecoin

TikTok is making a big push into e-commerce with a plan to sell made-in-China products to consumers. The move sets up a rivalry with popular shopping platforms Shein and Temu to bring Chinese goods to the U.S., while the overall approach replicates the successful “Sold by Amazon” program. As with leading online marketplace Amazon.com and the companies it represents, TikTok will warehouse and ship items — ranging from clothing, electronics and kitchenware — for Chinese merchants, handling checkout, marketing and after-sale services. TikTok plans to debut its American shopping program in August. Continue reading TikTok Offering Chinese Goods via U.S. E-Commerce Market

As expected, Spotify unveiled its first premium subscription rate hike in 12 years after mounting pressure from the music industry and musicians — and as competing services hiked their rates. A premium Spotify streaming subscription in the U.S. will now cost $10.99 per month, a $1 increase. Now the largest paid music service in the world, with about 210 million subscribers, Spotify is also raising rates in some 50 additional markets, including Canada, parts of Europe and Asia, South America and Australasia. Existing customers are getting one month’s notice before the new rates kick in. Continue reading Spotify Announces Anticipated Price Hikes for Subscriptions

Netflix is marshalling resources around its ad-supported Standard plan, pulling the plug on ad-free Basic in an effort to drive more eyeballs to the service’s sponsored tier. The $9.99 per month Basic plan is no longer available “for new or rejoining members” in the U.S. and UK and was dropped in Canada last month. Existing Basic subs can continue the plan until they decide to change tiers or cancel. Standard with Ads has since its November launch accrued more than 5 million subs, according to Netflix, which says 25 percent of new sign-ups have chosen that package. Continue reading Netflix Shutters Cheapest Streaming Plan Without Advertising