VentureBeat reports: “Slack’s IPO started with a bang as the first trade was priced at $38.50, giving the company a $23 billion valuation, well above the expected $16 billion. The workplace communication collaboration platform had reportedly projected a $26 per share opening price that would have valued it at $15.7 billion. Within the first two hours of trading, the stock price surged further to $41.85.”
Hollywood Reporter reports: “More than two months after thousands of scribes left their agents after talks broke down over a new franchise agreement — upending longstanding business practices in Hollywood and leading to an acrimonious lawsuit — the Writers Guild of America is now switching tactics and plans to negotiate with individual agencies.”
VentureBeat reports: “Facebook’s AI team has been extra thirsty for robotics lately. Over the course of the past year, Facebook has expanded its robotics operations around the world and taught hexapod robots to walk. Last week, Facebook AI released the Replica photorealistic training data set and Habitat, a simulation engine for embodied AI, like robots.”
Hypebot reports: “Spotify, Amazon and Deezer have joined all three major labels and music publishers, the RIAA, the American Association of Independent Music, IMPALA, Merlin, The International Confederation of Music Publishers and other global music industry trade groups in signing code of conduct designed to battle streaming manipulation.”
Variety reports: “Amazon Music is rolling out on Comcast’s Xfinity X1 — the first pay-TV distribution deal for the ecommerce company’s music service. The cable operator’s addition of Amazon Music comes six months after it added Amazon Prime Video to the X1 lineup.”
Hollywood Reporter reports: “‘We can, and we may still, offer our own,’ says EA exec Mike Blank, as Microsoft and Google plan major streaming platform launches this year.”
Variety reports: “Discovery, Inc. and FuboTV said they have struck a multi-year deal that brings 13 of the cable-programmer’s networks to Fubo’s live-TV streaming service in coming weeks. The agreement extends a relationship that had been in place between Fubo and the former Scripps Networks Interactive, which Discovery acquired in 2018.”
The Verge reports: “Google executives are reportedly discussing whether to remove all children’s videos from the site and have them exist solely on the standalone YouTube Kids app, according to a new Wall Street Journal report.”
Deadline reports: “Short-form digital service Quibi has already secured around $100M in advertising with six high-profile launch brands launching on the service. Jeffrey Katzenberg and Meg Whitman took their Quibi roadshow to the Cannes Lions event in France to announce the ad sales, coming ahead of its 2020 launch.”
Hypebot reports: “Global independent digital rights agency Merlin announced the findings of its 2019 Membership Report & Survey at A2IM Indie Week on Tuesday, The report revealed 63% year-on-year increase in member payments to $845 million.”
