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Digital Economy

Alphabet revenues up 7% to $74.6 billion in Q2 2023, with YouTube ad sales up 4%

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4 months ago

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Google parent company Alphabet has posted revenues of $74.6 billion for the second quarter of the year, beating expectations with a 7% growth year-on-year. The tech company's profits reached $18.4bn, up 15% y-o-y, reflecting restored margins and a better economic outlook.

Sundar Pichai, CEO of Alphabet and Google, said: “There’s exciting momentum across our products and the company, which drove strong results this quarter. Our continued leadership in AI and our excellence in engineering and ...

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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

China’s ByteDance plans to pull out from the video gaming sector — report

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1 day ago

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November 27, 2023

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ByteDance, the Chinese parent company of TikTok and Douyin, is restructuring its video games unit Nuverse, and plans to "retreat from mainstream video games," according to Reuters, citing "four people familiar with the matter." The move is expected to result in hundreds of employees from the division losing their jobs.

A ByteDance spokesperson told Reuters: "We regularly review our businesses and make adjustments to centre on long-term strategic growth areas. Following a recent review, we've...

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Digital Economy

Global SVoD subscriptions to reach 1.79 billion by 2029, up 321 million from 2023

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1 day ago

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November 27, 2023

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Global SVoD subscriptions will increase by 321 million between 2023 and 2029 to reach 1.79 billion, up 21.7%, and will be showing continued growth, according to estimates from Digital TV Research.

The US market will add 30 million subscriptions, followed by Brazil, which will gain 23 million subscribers and India (up 27 million). SVoD platforms in China will account for 391

(Source: Digital TV Research)

Six US-based platforms will accumulate 946 million SVoD subscribers by 2029, up fro...

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Copyright & Regulation

DigitalEurope warns EU policy-makers of over-regulating artificial intelligence

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3 days ago

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November 25, 2023

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As the European Union is getting close to adopt new legislation on artificial intelligence contained in the AI Act, tech companies and trade organisation representing the tech sector are calling for light regulation in order not to hamper the development of AI in the region.

In an open letter signed by 33 organisation and coordinated by DigitalEurope — whose members include Amazon, Apple, Google, Meta and Microsoft, among other companies — tech companies warned of the negative impact over-...

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