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Digital Economy

Meta Platforms posted first year-on-year decline in revenue — CEO Mark Zuckerberg blames ‘economic downturn’

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3 years ago

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Meta Platforms posted in Q2 2022 its first decline in revenue since the company became public, with revenues of $28.15 billion, down from $29.07bn for the same period in 2021. Net income was down 36% to $6.68bn.
"Engagement trends on Facebook have generally been stronger than we anticipated and strong real growth is continuing to drive engagement across Facebook and Instagram," Meta CEO Mark Zuckerberg explained.
He added: "That said, we seem to have entered an economic downturn that will have ...

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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).

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Digital Economy

Transcription platform Songscription raises $5m in funding round led by Reach Capital

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2 hours ago

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November 13, 2025

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AI-powered music transcription platform Songscription has raised $5 million in a funding round led by existing investor Reach Capital, with contributions by Emerge Capital, 10x Founders, and Dent Capital, as well as angels such as former Guns N’ Roses guitarist Ron "Bumblefoot" Thal, who also serves as an advisor to the company.
“AI is transforming how people around the world create and enjoy music,” said Jennifer Carolan, Co-founder and General Partner of Reach Capital: “With its powerful and ...

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Digital Economy

Spotify and NMPA launch new Opt-In Portal for publishers to enter into direct license deals for expanded AV rights in the US

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2 days ago

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November 11, 2025

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Spotify and the National Music Publishers’ Association (NMPA) launched a new Opt-In Portal allowing NMPA music publishers members to enter into a direct license agreement for expanded audiovisual rights in the US. The NMPA Opt-In Portal is open to eligible publishers from November 11, 2025, with onboarding continuing through December 19.
According to a joint statement, these new agreements "mean higher royalty payouts for independent music publishers and songwriters." In exchange the streaming s...

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Digital Economy

Getty Images signs global multi‑year licensing agreement with Perplexity

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1 week ago

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November 5, 2025

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Getty Images, one of the largest marketplaces for visual content, has announced a global multi‑year licensing agreement with AI company Perplexity. The deal covers display of images from Getty Images across Perplexity’s AI‑powered search and discovery tools.
Getty said the agreement gives Perplexity "rights to display images from Getty Images across its AI‑powered search engine tools, enhancing user experience and improving image attribution."

"Integrated deep into the content creation and d...

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