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Digital Economy

Niantic gets $300m from Coatue to finance AR and metaverse projects

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Niantic Inc. — the spinoff from Alphabet's Google behind the Pokemon Go app — has secured a $300 million investment from hedge fund Coatue that valued the company at $9bn.

The company said it would use the funds to finance Augmented Reality games and apps and build a vision for the "Real-World Metaverse."

“We’re building a future where the real world is overlaid with digital creations, entertainment and information, making it more magical, fun and informative,” said Niantic Founder a...

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Emmanuel is a Washington, DC-based freelance journalist, blogger and media consultant, specialising in the entertainment business and cultural trends. He was the US editor for British music industry trade publication Music Week. Previously, he was the editor of Impact, a magazine for the music publishing community (2007-2009), the global editor of US trade publication Billboard (2003-2006), and the editor in chief of Billboard’s sister publication Music & Media (1997-2003).

Digital Economy

Sony’s Crunchyroll has acquired anime publisher and distributor Right Stuf

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Sony-owned anime studio Crunchyroll has acquired Right Stuf, an online video publisher and distributor of anime products. Terms of the transaction were not disclosed.

The deal will help Crunchyroll expand its eCommerce activities. Right Stuf CEO Shawne Kleckner and the Right Stuf team will join Crunchyroll's Emerging Businesses division, led by Terry Li.

“For 35 years, Right Stuf’s mission has been to connect anime fans with the products they love,” said Kleckner. “Joining forces with Cru...

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Digital Economy

SoundCloud to shed 20% of its workforce

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Music streaming service SoundCloud has announced that it will reduce its workforce by 20%, according to a LinkedIn post from the company's Chief Executive Officer Michael Weissman, who said the decision was dictated by a challenging economic climate."

"Earlier today, I shared the news that we have decided to make reductions to our global team that will impact up to 20% of our company," wrote Weissman. "Making changes that affect people is incredibly hard. But it is one that is necessary to e...

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Creative Industries

Musical chairs — Week 29, 2022

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USA

SoundExchange's Luis Bonilla

Music rights society SoundExchange has promoted Luis Bonilla to the position of Chief Technology Officer, effective August 1, 2022. Based in Washington, DC, he will report to President and CEO Michael Huppe. “Luis’s vast institutional knowledge, deep expertise, and proven leadership record make him an invaluable asset to SoundExchange,” stated Huppe. “With over a decade of experience enhancing our data and processes, Luis is uniquely positioned to champion...

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