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Omdia: YouTube And Instagram Redefining Video Service Popularity

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Broadband TV News reports: “New research shows that while YouTube continues to dominate as the globe’s most popular video service, Instagram has moved ahead of Netflix and TikTok in the United States, establish itself as the second most popular video service for Americans.”

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Megamod Raises $1.9M For User-Generated Content Platform

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GamesBeat reports: “Megamod, a massively multiplayer gaming company, has raised $1.9 million to develop its user-generated content platform. The company raised the money at a post-money valuation of $27 million. The funds will be used to support the company’s go-to-market strategy, including testing a retention and monetization model.”

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Queen Catalog To Be Acquired By Sony Music In $1.27bn Deal (Report)

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Music Business Worldwide reports: “Sony Music Entertainment is set to acquire the catalog of legendary rock band Queen in a landmark deal worth GBP £1 billion (USD $1.27 billion at current exchange rates). That’s according to Hits, which reported on Wednesday (June 19), citing sources, that Sony Music has emerged as the winning buyer for Queen’s recording and publishing rights, as well as royalties from previous deals with Disney Music Group and Universal Music Group.”

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Pocket FM Partners With ElevenLabs To Convert Scripts Into Audio Content Quickly

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TechCrunch reports: “Lightspeed Ventures-backed audio platform Pocket FM announced it has partnered with voice-cloning company ElevenLabs to quickly convert text content, such as script, into audio series using AI. Pocket FM, which raised $103 million in Series D funding in March, told TechCrunch at the time that it was already experimenting with the ability to convert text content into audio using ElevenLabs‘ tech. Now, the India-based company has expanded the partnership to make the conversion tool available to all creators over the next few weeks.”

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MoviePass Receives Investment From Comcast’s Forecast Labs

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Variety reports: “MoviePass, a movie-theater subscription service that emerged from bankruptcy with its original founders at the helm, has received an equity investment from Forecast Labs, a consumer venture group that is owned by Comcast. As part of the investment, Forecast Labs will drive new customer acquisition for MoviePass through TV advertising.”

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Tripledot Acquires Zephyr Mobile

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Games Industry Biz reports: “Tripledot Studios has acquired fellow mobile game company Zephyr Mobile for an undisclosed sum. As reported by Pocket Gamer, Zephyr and its 55 staff will continue to be run by CEO Serge Morozov, out of its Warsaw HQ. The studio is known for a variety of casual titles and apps.”

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Streaming Climbs To Record Share As Total TV Usage Dips In May

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Next TV reports: “Streaming grabbed a record high 38.8% share of television usage in May as total usage fell 2.4% from April, according to Nielsen. Nielsen said the sitcom Young Sheldon presented a strong example of how TV is converging. The series generated 6 billion viewing hours, with half coming on streaming and the other half on traditional broadcast and cable TV.”

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Meta Releases Flurry Of New AI Models For Audio, Text And Watermarking

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VentureBeat reports: “Meta’s Fundamental AI Research (FAIR) team, is releasing several new AI models and tools for researchers to use. They are centered on audio generation, text-to-vision, and watermarking. “By publicly sharing our early research work, we hope to inspire iterations and ultimately help advance AI in a responsible way,” the company said in a press release.”

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Genspark Reels In $60M For Its AI-Powered Search Engine

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siliconANGLE reports: “Genspark, the developer of a new search engine powered by large language models, today disclosed that it has raised $60 million in funding. Singapore-based investment firm Lanchi Ventures led the seed round. Reuters reported that the raise values Genspark at $260 million. The investment comes amid reports that several other startups in the AI-powered search market are seeking new funding.”

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iOS 18 Could ‘Sherlock’ $400M In App Revenue

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Photo by Mariia Salabaieva on Unsplash under the Creative Commons License

TechCrunch reports: “Apple’s practice of leveraging ideas from its third-party developer community to become new iOS and Mac features and apps has a hefty price tag, a new report indicates. With the release of iOS 18 later this fall, Apple’s changes may affect apps that today have an estimated $393 million in revenue and have been downloaded roughly 58 million times over the past year, according to an analysis by app intelligence firm Appfigures.”

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