Google’s quarterly profit rose 24 percent, while revenue increased 21 percent to $21.5 billion, thanks in large part to its advertising and push into mobile, according to The Wall Street Journal. Google is also experiencing success with its cloud services division. Parent company Alphabet reported 33 percent growth of its non-advertising business over the previous year, surpassing Wall Street expectations. “The strength of the quarter is about mobile,” said Google chief exec Sundar Pichai. “Our investment in mobile now underlines everything that we do today, from search and YouTube to Android and advertising.” Continue reading Google Reports Strong Quarter Based on Strength of Mobile

Chinese tech company LeEco (formerly LeTV), has paid $2 billion for California television seller Vizio, which presently controls about 20 percent of the U.S. market. The Beijing-based company is often referred to as the Netflix of China, although it sells hardware devices such as TVs, set-top boxes, smartphones and electric cars in addition to its streaming services. With the acquisition, LeEco can now bring its services to the U.S. “Our strategy is to integrate our platform — including software and services — with devices,” said LeEco exec Winston Cheng. Continue reading LeEco Acquires Vizio to Bring its Streaming Services to U.S.

Apollo Global Management will acquire Bellevue, Washington-based Outerwall Inc., owner of Redbox movie rental kiosks and Coinstar coin counting machines, “for $52 a share, a transaction value of $1.6 billion when including debt,” reports The New York Times. “Investors applauded the move, sending the stock 11 percent higher in early trading Monday to a level just above the $52 buyout price.” Outerwall operates more than 40,000 rental kiosks in the U.S. and Puerto Rico, but has struggled to compete with cable VOD and streaming services. Redbox recently started testing its own streaming and download service. Continue reading Redbox Owner Agrees to Be Taken Private by Apollo Global

To lure millennials to watch the Rio Olympics, which run August 5 to 21, NBC is enlisting 24 Internet celebrities to build buzz. For the first time, NBC is using a portion of its marketing budget on digital influencers such as German DJ/comedian Flula Borg, who has 779,000+ YouTube fans, to appear in videos with U.S. Olympic athletes, including Michael Phelps, Missy Franklin, Maya Moore and Claressa Shields. The YouTube celebrities tapped for videos have 120 million followers on YouTube, Facebook, Twitter, Instagram and Vine. Continue reading NBC Inks Deals with Digital Celebrities to Promote Olympics

Facebook is testing new mobile video features for its Android app, including subscription-based video channels and a dedicated video tab that incorporates video search, which would provide brands with the opportunity to target ads based on keywords. Enhancing the mobile viewing experience is the next step toward making the social platform more video-centric and ramping up competition with YouTube. However, Facebook needs to convince its users to watch video mixed with other content and, especially for advertisers, show successful video completion rates. Continue reading Facebook Takes Aim at YouTube with Mobile Video Features

MIT’s Computer Science and Artificial Intelligence Lab (CSAIL), with Israel’s Weizmann Institute of Science, released the prototype of a 3D display technology, for use in movie theaters, that doesn’t require glasses. Other glasses-free 3D displays have been available, most notably with the Nintendo 3DS, but they are designed for use by a single user and only work when the content is viewed at a specific angle. A research paper on the technology, dubbed “Cinema 3D,” will be given at the SIGGRAPH conference this week. Continue reading MIT Prototypes Glasses-Free 3D for Motion Picture Theaters

Publishers have gravitated to sponsored content — stories, videos and podcasts that mimic journalistic content — to cope with rapidly changing online advertising. The Atlantic, Slate and The New York Times are among the publications that count sponsored content as a significant portion of their revenue. Companies such as Vice and BuzzFeed have created businesses centered on focused content. But the definition of sponsored content is shifting as viewers move from news sites towards Facebook and other social media platforms. Continue reading How Sponsored Content Transforms as It Moves to Facebook

Twitter announced lackluster Q2 earnings, with $602 million in revenue for a net loss of $107 million. While the company improved over Q2 2015, when it lost $136.6 million, and monthly active users increased from 310 million to 313 million, its numbers fell short of Wall Street expectations and the company’s stock dropped more than 10 percent in after-hours trading. Despite new deals for live-streaming sports in the near future, the platform is not keeping up with the growth of social rivals such as Facebook, WhatsApp, Messenger, Snapchat and LinkedIn. Continue reading Twitter Struggles with Worst Quarterly Revenue Growth Ever

Twitter is looking to strengthen its status as a social destination for sports fans by striking deals with Major League Baseball and the National Hockey League to host live video of games for users who are in out-of-market regions. The move follows a similar agreement with the National Football League that will bring “Thursday Night Football” to Twitter this fall, a partnership with the National Basketball Association to live-stream original programming (but not games), and deals with Pac-12 Networks and Campus Insiders to stream college sports during the 2016-2017 season. Continue reading Twitter Continues its Push to Become Live-Streaming Service

Verizon announced it would acquire Yahoo’s core operating business in a $4.83 billion cash deal expected to close in the first quarter of next year. Yahoo will join Verizon’s growing stable of digital properties, including AOL, which it purchased last May for $4.4 billion. The deal should help Verizon ramp up its mobile efforts and combine AOL’s ad tech with Yahoo’s online sites and services. AOL chief Tim Armstrong and Verizon exec Marni Walden spearheaded the deal. “This culminates a rigorous, thorough process over many months, and yields a great outcome for the company,” wrote Yahoo CEO Marissa Mayer in a letter to her employees. Continue reading The Wait Is Over: Verizon Will Acquire Yahoo for $4.83 Billion

Redbox has begun to test its new streaming service, Redbox Digital, on a trial basis. In preparation for the current tests, Redbox issued a Redbox Digital iPad app on the App Store, and updated its terms of service on its website. There, the company details common usage restrictions, including territories, for the digital services. Redbox has not yet gone public with the catalog or fee structure for Redbox Digital, but streaming rentals will likely cost more than the current fee of $1.50 for physical disc rentals. Continue reading Redbox Beta Tests its New Streaming Service Redbox Digital

Numerous companies are introducing virtual reality cameras, filling a void that existed a year ago when VR productions were limited to the low-resolution Ricoh camera or custom rigs with multiple GoPro cameras. Among those manufacturers now offering 360-degree cameras are Samsung and LG aiming at the consumer marketplace, and Nokia, Jaunt and Lytro positioned towards the professional market. Kickstarter campaigns are also underway for additional cameras. The latest venture comes from CNET founder Halsey Minor, who is building an end-to-end immersive video system. Continue reading Halsey Minor Seeks to Disrupt VR Production with Live Planet

Jukin Media has created a business model that leverages social media and the financial possibilities involving viral videos. The company searches for popular online videos, pays the video creators, “and then licenses clips out to digital media companies, brands and morning news shows,” explains The Wall Street Journal. “Think of it as Getty Images for viral videos,” said Jukin CEO and founder Jon Skogmo, who has also launched social channels that feature the unique content. The clips are becoming popular for advertising as well. “Brands are very attracted to this type of user-generated content,” said Skogmo, “especially when they’re seeing everyday people playing with their products.” Continue reading Jukin Media Creates Variety of Opportunities for Viral Videos

Facebook’s messaging app Messenger just reached a landmark: one billion people use it every month, says the Silicon Valley company. Facebook’s other messaging app — WhatsApp, which it acquired for $19 billion two years ago — is the most used messaging app in the world, passing the one-billion user mark in February, likely growing further since. Facebook chief executive Mark Zuckerberg says each messaging app is distinct. The company goal is to make messaging, not apps, its primary computing interface. Continue reading Facebook Messenger Passes the One Billion User Milestone

Computer scientists at UC San Diego have developed an efficient technique for rendering the sparkling, shiny and uneven surfaces of water, various metals and materials such as injection-molded plastic finishes. The team has created an algorithm that improves how CG software reproduces the interaction between light and different surfaces (known as “glints”), a technique the team claims is 100 times faster than current state-of-the-art methods, requires minimal computational resources, and is effective beyond still images to include animation. Continue reading Researchers Develop Efficient Way to Render Shiny Surfaces