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Digital Economy

China’s WeChat suspends a dozen accounts offering digital collectibles such as NFTs

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At least a dozen WeChat public accounts marketing digital collectibles such as NFTs have been frozen or shut down by the app's parent company Tencent Holdings, in a pre-emptive move designed to clamp down on crypto speculation and reselling of digital collectibles.

According to the South China Morning Post, the accounts suspended include Huasheng Meta and Spirit Leap. A disclaimer on these accounts indicates that they have “no legal permit or licence to publish, disseminate, or engage in rel...

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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

Napster appoints former Roblox Head of Music Jon Vlassopulos as its new CEO

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Music streaming service Napster has hired Jon Vlassopulos as CEO, in a move that coincides with the completion of a new funding round.

At Napster, Vlassopulos is expected to lead the company's efforts to grow its footprint, as well as leveraging Web3 technology to provide a better experience to users. Vlassopulos is the former Vice President and Global Head of Music at metaverse platform Roblox. He is credited with "building [Roblox]'s groundbreaking music initiatives and bringing artists in...

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Digital Economy

Global SVoD subscriptions to reach 1.68 billion by 2027, up from 1.20 billion in 2021

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Global SVoD subscriptions will will reach 1.68 billion by 2027, an increase of 475 million compared to 2021's 1.20 billion, according to new data from Digital TV Research, which estimates that global SVoD revenues will reach $132 billion by 2027.

Six US-based platforms will account for 47% of the world’s total in 2027, Netflix will remain in the lead with 251 million subscriptions — and will also be the revenue winner, with $30 billion expected by 2027 —, followed by Amazon Prime Video (250 ...

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Digital Economy

Authors Guild welcomes Amazon’s decision to modify its return policy for ebooks

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The Authors Guild has disclosed that online retailer Amazon has agreed to alter its return policy for eBooks.

So far, Amazon's return policy allowed readers to return ebooks within seven days of purchase, regardless of the amount read. Self-published or indie authors complained that they were losing on revenue twice when Amazon users were returning their books before the seven-day deadline, first because a returned book is a lost sale, and secondly because they had to incur the return costs...

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