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Meta raises $50M for its next-generation augmented reality headset

VentureBeat reports "Meta has raised a second round of funding of $50 million for its augmented reality headset. With augmented reality, computer-connected glasses can overlay animations on the real world, giving you much more data about what you see in your surroundings. You could, for instance, look at a mountain and see how tall it is, or how much a particular piece of clothing costs. Redwood City, Calif.-based Meta is one of many chasing the augmented reality glasses market. But as big as the round is, it pales in comparison to the $793.5 million raised in February by Magic Leap, an AR startup in Florida. Tech advisor Digi-Capital expects augmented reality to be a $90 billion market by 2020."

Berklee Announces Ambitious New Cross-Industry Project with Majors and Big Tech...

Billboard reports "Around this time last year, the Berklee College of Music's campaign Rethink Music debuted its "Fair Music: Transparency And Money Flows In The Music Industry" report. The report, a succinct (and Kobalt-funded) 29 pages, was scathing in conclusion of a systemically delayed adoption of modern technologies by the music industry."

The Virtual Reality Company Raises $23 Million; Steven Spielberg’s VR Production...

The Hollywood Reporter reports "The Virtual Reality Company — the VR production company that created Fox’s The Martian VR Experience — revealed that it has raised nearly $23 million in a new round of investment made by Hengxin Mobile Business Co., a Beijing-based mobile services and technology provider, securing for VRC a platform for the distribution of its content in China. The new funding will be used for current and upcoming projects, including an "original family-oriented VR program" that's being created with VRC adviser and shareholder Steven Spielberg."

Twitch’s 100 million viewers watched 800 million hours of esports in...

VentureBeat reports "If you’re uncertain why companies like ESPN and Activision have been making big acquisitions and investments in esports, here’s a good answer: because more than 100 million viewers spend lots of time — really, lots of time — watching competitive gaming. More than 800 million hours over the past 10 months."

The app boom is over

ReCode reports "The mobile app boom kicked off in July 2008, when Apple introduced the App Store. Now it is over. People are still making plenty of apps, of course. And many people are still downloading them. But the go-go growth days are gone. If you are an independent app developer or publisher, you have probably known this for a while, because you have found it very difficult to get people to download your app — the average American smartphone user downloads zero apps per month."

E3, Fading Catnip for Video Gamers, Tries a New Approach

The New York Times reports "Some publishers have walked away from E3 2016, which is set to begin next Tuesday. Electronic Arts, the company behind titles like Medal of Honor, will not be there and is instead hosting its own mini-expo the same week. Activision, which publishes Call of Duty, chose to forgo its booth at E3 for the first time since 2010. Disney also will not be there after the company announced last month that it was shutting down its video game publishing business."

Surging Internet Spending Will Drive Media Growth To 2020: Study

Deadline reports "Last year was the first in which U.S. consumers spent more to access the internet than they did to watch TV and video. And the second shoe will drop in 2017 when advertisers will spend more on the internet than on TV, professional services firm PwC projects today in its 17th annual 5-year Global Entertainment and Media Outlook. The report sees total domestic spending for entertainment and media rising about 3.6% per year to $720.4 billion in 2020 from nearly $603.0 billion last year. The internet will drive this growth. Spending to connect to the web will increase about 7.2% a year to $181.7 billion in 2020 from $128.5 billion last year. Ad sales will rise 9.4% a year to $93.5 billion from $59.6 billion."

PwC’s ‘Global Entertainment’ Study Breaks Down the Music and Ad Industries’...

Billboard reports "Notably for the music industry, PwC predicts total music revenue -- including concert receipts, recorded music sales and streams, and satellite radio -- in the U.S. to grow at a steady (compound annual) rate of 3.5 percent, bringing it to $18.04 billion by 2020. That's a precipitous increase from the growth seen over the preceding four years, in which it rose from $14.87 billion to its current (as of 2015) $15.18 billion. That growth is being driven, according to the company, with streaming revenue predicted to grow at a rate of 21.6 percent through 2020, accounting for $4.27 billion that year. Live music is estimated by PwC to be worth $9.30 billion stateside and is predicted to ascend at a 4.7 percent rate through 2020."

PwC: Game industry to grow nearly 5% annually through 2020

VentureBeat reports "Within the global entertainment business, games look pretty good. The U.S. video game industry revenue is expected to grow at a compound annual growth rate of 3.6 percent from 2015 to 2020, according to a new report by PwC. And the global video game industry is expected to grow even faster, at a CAGR of 4.8 percent from $71.3 billion in 2015 to $90.1 billion in 2020."

Lenovo gets serious about VR with Movidius partnership

TechCrunch reports "Today, Movidius announced that electronics behemoth Lenovo is the latest company to adopt their tiny, low-power (sub-one-watt) Myriad 2 visual processing unit (VPU) “to provide advanced vision processing technology to a variety of VR-centric Lenovo products.“ Lenovo is a marquee client for the hardware/software company with offices in both San Francisco and Dublin, Ireland. No other info was given with regard to the scale of the partnership but just that the first Lenovo products featuring Myriad 2 are expected in second half of 2016."