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Social Media Giants to Top Creators: Your Terms of Service Have Changed

As creators increasingly diversify their presence across all major social platforms, companies like YouTube and Twitch are rewriting the rules around revenue sharing and rethinking just how generous they should be with their content partners.  On Sept. 20, YouTube, led by Susan Wojcicki, unveiled a series of creator-driven announcements, including a plan to bring its “secret […]

Snap Unveils Inaugural Class for $120K Black Creator Accelerator Program

Snap has selected 25 Black creators to participate in its first accelerator program dedicated to providing mentorship and financial support for emerging Black creatives. The yearlong program is housed underneath Snap’s 523 initiative — a reference to Snap’s first office at 523 Ocean Front Walk — that supports creators and small businesses from underrepresented groups. […]

Snap to Cut 20 Percent of Staff, Snap Originals Scrapped in Major Restructuring

Snap will lay off around 20 percent of its workforce on Wednesday, according to a memo from Snap CEO Evan Spiegel sent to employees. The layoffs will see more than 1,200 employees cut, with the company expecting to save about $500 million. “The scale of these changes vary from team to team, depending upon the […]

Netflix Poaches Snapchat Execs Jeremi Gorman and Peter Naylor to Lead Advertising Business

Netflix has found the executives who will lead its advertising business. The streaming giant has poached a pair of Snapchat executives: Snap Chief business officer Jeremi Gorman and VP of sales Peter Naylor, to lead its new ad venture, a spokesperson confirms to The Hollywood Reporter. Gorman will be president of worldwide advertising for Netflix, […]

Snap Sued Over Video Overlay Technology

Snapchat maker Snap has been sued for copying video overlay and augmented reality features from a competing app that it allegedly teased acquiring in 2016. In a lawsuit, filed Wednesday in California federal court, Playvuu founder Shane Pollack accused Snap of stealing patented technology that he showed company executives related to the use of filters […]

Snap Shares Tank as Market Fears Drag on Social Media Ads

Shares of Snap continued to plummet Friday, following analyst downgrades after the company missed lowered earnings expectations and warned of a tough macroeconomic environment.  More worrying still was the fact that the company did not issue future guidance after having revised expectations for the second quarter. This caused concern about the overall impact on the […]

Snap Misses on Second-Quarter Revenue, Does Not Issue Future Guidance

Snap reported $1.11 billion in revenue during the second quarter after the company previously warned it would miss its revenue expectations for the quarter. The revenue number marks a 13 percent increase year-over-year, coming in below its previous guidance of 20 percent to 25 percent. Daily active users increased 18 percent year over year to […]

Tech Giants Lower Expectations Amid Ad Market Roller-Coaster

Mark Zuckerberg came with bad news. In a meeting with employees in July, the Meta CEO, who has turned his company’s focus, and investments, toward the metaverse, told staff to prepare for one of the “worst downturns that we’ve seen in recent history,” as Reuters reported. Employees used to bountiful resources would need to work […]

Annenberg Inclusion Initiative Teams With Snap for $25K Student Film Grant (Exclusive)

The USC Annenberg Inclusion Initiative has partnered with Snap on a program to boost one female student filmmaker of color during her senior year. The Snap Originals Annenberg Inclusion Award will give the winning filmmaker $25,000 for her senior thesis film. A panel of Snap advisors will mentor her throughout her senior year, and she […]

Snap Hires U.S. Secret Service Director James Murray As Chief Security Officer

Snap, the parent company of Snapchat, has hired James Murray, the outgoing director of the U.S. Secret Service, as the company’s chief security officer, a Snap spokesperson told The Hollywood Reporter. Murray will begin at Snap on Aug. 1 and report directly to Snap CEO Evan Spiegel. As part of his top security role, Murray will […]

Snapchat Launches Subscription Tier With Access to New Features

Snapchat has launched a subscription tier that will give paying subscribers access to new features but the same advertising experience as non-subscribers. Snapchat+, which launched on Wednesday, costs $3.99 a month and is available in the U.S., Canada, the U.K., France, Germany, Australia, New Zealand, Saudi Arabia and the United Arab Emirates, though more countries […]

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 […]