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Instagram, Facebook to Delay Taking Commission From Creators to 2024

Instagram and Facebook will begin taking a cut of creators’ revenues in 2024, a year later than originally planned, according to Meta CEO Mark Zuckerberg. The two social platforms will take a commission from offerings like fan subscriptions, paid events, badges and the company’s newsletter platform and Substack competitor Bulletin, where creators currently get to […]

Sheryl Sandberg to Step Down as Meta COO This Fall After 14-Year Run

Sheryl Sandberg is stepping down as Meta’s chief operating officer this fall after a 14-year career at the company, the executive said Wednesday. Sandberg, who will continue to serve on Meta’s board of directors, will be succeeded by Meta’s chief growth officer, Javier Olivan, according to Meta CEO Mark Zuckerberg. “When I took this job […]

Eurovision Winners Sell Trophy for $900,000 to Buy Drones for Ukraine

Ukrainian band Kalush Orchestra, which won the Eurovision Song Contest, has sold off its trophy for $900,000 to raise money for drones for the country’s armed forces fighting Russia’s invasion. The money raised would be used to buy three Ukraine-made PD-2 drones, TV presenter Serhiy Prytula, who hosted the auction, announced, according to Reuters. The […]

What Snap’s Revenue Warning May Mean for Media Companies and Advertising

With Snap surprising Wall Street with a second-quarter revenue warning on Monday, noting that “the macroeconomic environment has deteriorated further and faster than anticipated” since its last earnings update, some media analysts are assessing the potential advertising impact on other sector players. Wells Fargo’s Steven Cahall in a Tuesday report offered up “helpful quick data […]

Meta Hits $27.9B in Revenue, But Growth Keeps Slowing

Meta Platforms Inc. reported $27.9 billion in revenue for the first quarter, falling within the low end of its $27–$29 billion revenue projections, and saw a 21 percent year-over-year drop in net income as growth has continued to slow into the new year. Meta’s “family of apps,” which includes Facebook, Instagram, Messenger and WhatsApp, accounted […]

TikTok “Deeply Concerned” by Facebook’s Paid Campaign to Promote Negative Coverage of Social App

TikTok said Wednesday it was “deeply concerned” by a campaign paid for by Meta, the parent company of Facebook, to promote negative coverage of the shortform social platform in local media coverage. As reported by The Washington Post, Meta has paid a “right of center” marketing firm, Targeted Victory, to lead a campaign that has […]

Europe Takes Aim at Big Tech With Digital Markets Act

The European Union has done it again. Three years after a European privacy law forced big tech to overhaul how they deal with user data, European legislators have agreed on new sweeping legislation to rein in the market power of tech giants like Google, Amazon, Facebook, Apple and Microsoft. Europe’s antitrust chief Margrethe Vestager on […]

Oscars: Instagram Influencers to Attend Ceremony to Create Behind-the-Scenes Reels (Exclusive)

In another move to appeal to younger and broader audiences, the Academy has partnered with Meta — the parent company of Instagram and Facebook — to bring creators to this Sunday’s Oscars ceremony to create shortform content on Reels. A total of 12 creators — including Boman Martinez-Reid, Rickey Thompson, Remi Bader and Denzel Dion […]

Russian Government to Block Access to Facebook

Russia’s communications agency Roskomnadzor said on Friday that it will block access to Facebook in the Russian Federation due to restrictions the social platform has placed on state-owned media outlets like Russia Today and Sputnik in the European Union. In a statement posted to Telegram, the agency alleged there had been 26 cases of “discrimination” […]

Facebook to Be Subject of Showtime’s ‘Super Pumped’ Anthology in Season 2

Showtime has renewed its business-centric anthology series Super Pumped for a second season and has selected its subject: Facebook. The drama from Billions creators Brian Koppelman and David Levien and executive producer Beth Schacter will focus its second installment on the relationship between Facebook (now Meta) founder Mark Zuckerberg and COO Sheryl Sandberg. Showtime has […]

Disney Names Mike White to Lead Metaverse Strategy

Walt Disney has named Mike White to lead the studio’s metaverse strategy. White becomes senior vp in change of next generation storytelling, Disney CEO Bob Chapek announced in an internal memo obtained by The Hollywood Reporter. “Today, we have an opportunity to connect those universes and create an entirely new paradigm for how audiences experience […]

Facebook Series ‘Doomsday Machine,’ Starring Claire Foy, Lands at HBO

Following a multiple-outlet bidding war, the Facebook TV series starring The Crown Emmy winner Claire Foy has landed at HBO. The WarnerMedia-backed premium cable network has landed Doomsday Machine with a development deal for the limited series that is based on the book An Ugly Truth: Inside Facebook’s Battle for Domination. The drama is a […]