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Digital Economy

Netflix added 8.7 million subscribers in Q3 2023 to reach 247.1 million globally

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1 month ago

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Netflix added 8.76 million subscribers during the third quarter of the year, bringing the video streaming services' global subscribers to 247.15 million. Since the start of the year, Netflix has added close to 17 million subscribers.

Revenues for the quarter reached $8.5 billion, up 7.8% compared to the same period a year prior, with operating income reaching $1.9bn. Revenue growth in Q3 reflected a 9% year-over-year increase in average paid memberships "due to the roll out of paid sharing, ...

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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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16 hours 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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16 hours 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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2 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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