A newly unsealed document in a potential class-action lawsuit alleges that Facebook shut down Facebook Watch to keep Netflix among its top advertisers — and to keep ads for Netflix series and films off of emerging competitors like Snapchat, a person with knowledge of the lawsuit tells IndieWire. And along the way, the two traded lots and lots of your data — allegedly.
The suit, filed by attorney Brian J. Dunne on behalf of other Facebook advertisers, seeks billions in damages. If they win at trial or settle, the exact dollar amount would come down to a percentage of Facebook’s overall advertising revenue from 2016-2019.
Before Facebook launched streaming-video platform Facebook Watch in August 2017, Netflix spent about $40 million per year on Facebook ads, per the letter from Dunne to a Judge Donato. Shortly after Mark Zuckerberg doomed Facebook Watch by decimating its budget in 2018, the spend increased to $150 million; two years later,...
The suit, filed by attorney Brian J. Dunne on behalf of other Facebook advertisers, seeks billions in damages. If they win at trial or settle, the exact dollar amount would come down to a percentage of Facebook’s overall advertising revenue from 2016-2019.
Before Facebook launched streaming-video platform Facebook Watch in August 2017, Netflix spent about $40 million per year on Facebook ads, per the letter from Dunne to a Judge Donato. Shortly after Mark Zuckerberg doomed Facebook Watch by decimating its budget in 2018, the spend increased to $150 million; two years later,...
- 4/3/2024
- by Tony Maglio
- Indiewire
Newly unsealed court documents show that in 2018, Facebook executives slashed the funding of Facebook Watch in favor of an ad deal with Netflix.
As the world’s largest and most profitable streaming service, Netflix’s dominance leaves no room to question who the leader in streaming is. But how important was another global tech company in its rise to power? A new report from Gizmodo has details about the close relationship between then Netflix co-ceo Reed Hastings and key members of the Facebook team, including Mark Zuckerberg. The report outlines that Facebook agreed to effectively defund its streamer Facebook Watch in 2018 to help maintain a closer advertising relationship with Netflix, a deal that might have helped the streamer gain millions of new subscribers.
Facebook Watch began creating original titles and seeking new licensing deals to build its presence as an on-demand streamer in 2017. The platform pivoted to social video in...
As the world’s largest and most profitable streaming service, Netflix’s dominance leaves no room to question who the leader in streaming is. But how important was another global tech company in its rise to power? A new report from Gizmodo has details about the close relationship between then Netflix co-ceo Reed Hastings and key members of the Facebook team, including Mark Zuckerberg. The report outlines that Facebook agreed to effectively defund its streamer Facebook Watch in 2018 to help maintain a closer advertising relationship with Netflix, a deal that might have helped the streamer gain millions of new subscribers.
Facebook Watch began creating original titles and seeking new licensing deals to build its presence as an on-demand streamer in 2017. The platform pivoted to social video in...
- 4/1/2024
- by David Satin
- The Streamable
OpenAI CEO Sam Altman, ousted four months ago from the company he co-founded, is now fully back in control. His return to its board of directors as part of a reshaped oversight team was announced on Friday.
Altman was fired in November as CEO and director by the OpenAI board, a shocking development for a man widely perceived as the leader of AI in Silicon Valley. He then briefly went to work for Microsoft, which had a $13 billion partnership with OpenAI.
Then, weeks after his axing, Altman was rehired as CEO by OpenAI. The company fired the directors responsible for Altman’s dismissal and added economist Larry Summers and Salesforce co-ceo Bret Taylor as chair. They kept Quora CEO Adam D’Angelo as the sole remaining board member from Altman’s prior era.
On Friday, OpenAI announced the appointment of four new directors: Altman, former Gates Foundation CEO Sue Desmond-Hellman, former Sony General Counsel Nicole Seligman,...
Altman was fired in November as CEO and director by the OpenAI board, a shocking development for a man widely perceived as the leader of AI in Silicon Valley. He then briefly went to work for Microsoft, which had a $13 billion partnership with OpenAI.
Then, weeks after his axing, Altman was rehired as CEO by OpenAI. The company fired the directors responsible for Altman’s dismissal and added economist Larry Summers and Salesforce co-ceo Bret Taylor as chair. They kept Quora CEO Adam D’Angelo as the sole remaining board member from Altman’s prior era.
On Friday, OpenAI announced the appointment of four new directors: Altman, former Gates Foundation CEO Sue Desmond-Hellman, former Sony General Counsel Nicole Seligman,...
- 3/9/2024
- by Bruce Haring
- Deadline Film + TV
New Delhi, Dec 23 (Ians) Apoorva Mehta, Indian-origin Co-founder of grocery delivery company Instacart has been accused of using stolen trade secrets to build a healthcare startup promoting weight loss.
Hello Logistics, which operates under the name NextMed, has sued Mehta, his business partner Tejasvi Singh, and their company Cloud Health Systems, reports The American Bazaar.
Indian-Canadian businessman Mehta, who announced to step down as executive chairman of Instacart in July this year, has been sued over allegations of misappropriation of trade secrets, copyright infringement and other claims.
According to the lawsuit, Singh collected some of NextMed’s trade secrets under the guise of gathering the information as part of “due diligence for investors”.
Mehta and Singh then used the information to create a company that “does business as Sunrise, with a copycat website”, according to the complaint.
They also allegedly implemented NextMed’s highly confidential customer acquisition and other strategies,...
Hello Logistics, which operates under the name NextMed, has sued Mehta, his business partner Tejasvi Singh, and their company Cloud Health Systems, reports The American Bazaar.
Indian-Canadian businessman Mehta, who announced to step down as executive chairman of Instacart in July this year, has been sued over allegations of misappropriation of trade secrets, copyright infringement and other claims.
According to the lawsuit, Singh collected some of NextMed’s trade secrets under the guise of gathering the information as part of “due diligence for investors”.
Mehta and Singh then used the information to create a company that “does business as Sunrise, with a copycat website”, according to the complaint.
They also allegedly implemented NextMed’s highly confidential customer acquisition and other strategies,...
- 12/23/2022
- by Glamsham Bureau
- GlamSham
We can add another item to the list of products Meta has discontinued in 2022. The standalone Facebook Gaming app, which launched in 2020 to provide a mobile hub for Meta’s live streaming content, will cease operation on October 28.
Gothalion, a streamer who often goes live on Facebook Gaming, shared the news of the app’s demise in a tweet. His post includes a message from Facebook in which the platform says that the Gaming app “will no longer be available” by November. Facebook users who still wish to watch video game streams on their mobile devices will be able to find those broadcasts within the primary Facebook app.
pic.twitter.com/P6mDEFRheo
— Gothalion (@Gothalion) August 29, 2022
Facebook has not provided a specific reason for the app’s demise. In a statement provided to TechCrunch, a Meta rep said that “the standalone Facebook Gaming app has been an incredible environment for...
Gothalion, a streamer who often goes live on Facebook Gaming, shared the news of the app’s demise in a tweet. His post includes a message from Facebook in which the platform says that the Gaming app “will no longer be available” by November. Facebook users who still wish to watch video game streams on their mobile devices will be able to find those broadcasts within the primary Facebook app.
pic.twitter.com/P6mDEFRheo
— Gothalion (@Gothalion) August 29, 2022
Facebook has not provided a specific reason for the app’s demise. In a statement provided to TechCrunch, a Meta rep said that “the standalone Facebook Gaming app has been an incredible environment for...
- 8/31/2022
- by Sam Gutelle
- Tubefilter.com
New Delhi, July 23 (Ians) US-based Instacart’s Founder and Executive Chairman Apoorva Mehta has announced to step down from the online grocery delivery service he founded nearly a decade ago. Instacart announced that CEO Fidji Simo has been appointed as Chair of the Board of Directors, effective as Mehta moves out from the board once […]...
- 7/23/2022
- by Glamsham Bureau
- GlamSham
Facebook is making a major push into audio, integrating podcasts, establishing a live chat answer to Clubhouse and launching a new format called Soundbites.
The initiatives were highlighted by CEO Mark Zuckerberg in an interview on social chat site Discord, and then further explained in a blog post by Fidji Simo, head of the Facebook app. The goal is to make audio a key element in the experience of Facebook’s 2.8 billion monthly active users.
“Audio seamlessly fits within our busy lives, allows us to be inspired by new ideas, and talk with other like-minded people without pressure,” Simo wrote in the post. “But we know there are more social experiences to create to help people say what they want to say, discover new voices they haven’t heard before, or exchange ideas at the speed of sound.”
More than 170 million people are already connected to hundreds of thousands of podcast pages on Facebook,...
The initiatives were highlighted by CEO Mark Zuckerberg in an interview on social chat site Discord, and then further explained in a blog post by Fidji Simo, head of the Facebook app. The goal is to make audio a key element in the experience of Facebook’s 2.8 billion monthly active users.
“Audio seamlessly fits within our busy lives, allows us to be inspired by new ideas, and talk with other like-minded people without pressure,” Simo wrote in the post. “But we know there are more social experiences to create to help people say what they want to say, discover new voices they haven’t heard before, or exchange ideas at the speed of sound.”
More than 170 million people are already connected to hundreds of thousands of podcast pages on Facebook,...
- 4/19/2021
- by Dade Hayes
- Deadline Film + TV
Facebook is looking to expand the reach of its video game streaming platform with the launch of the Facebook Gaming app.
“Investing in gaming, in general, has become a priority for us because we see gaming as a form of entertainment that really connects people,” says Facebook executive Fidji Simo in an interview with The New York Times. “We’re seeing a big rise in gaming during quarantine.”
We’ll come back to that last part in a bit (don’t worry), but it’s worth noting that this isn’t an entirely new initiative from Facebook. The company has long allowed people to stream video games via their Facebook page, and they’ve even been testing this app in limited markets for over a year now. Facebook has also worked to sign some streamers away from Twitch and other popular platforms.
However, the launch of this app greatly expands...
“Investing in gaming, in general, has become a priority for us because we see gaming as a form of entertainment that really connects people,” says Facebook executive Fidji Simo in an interview with The New York Times. “We’re seeing a big rise in gaming during quarantine.”
We’ll come back to that last part in a bit (don’t worry), but it’s worth noting that this isn’t an entirely new initiative from Facebook. The company has long allowed people to stream video games via their Facebook page, and they’ve even been testing this app in limited markets for over a year now. Facebook has also worked to sign some streamers away from Twitch and other popular platforms.
However, the launch of this app greatly expands...
- 4/21/2020
- by Matthew Byrd
- Den of Geek
Facebook is adding a seventh “reaction” button on its platform allowing more than 2 billion global users to indicate the emotion being stirred up by Covid-19.
The “Care Reaction,” as the company calls it, shows a heart being hugged. It will sit next to others indicating anger, sadness, love and other emotions in response to posts, comments, images, videos, or other content. It will start rolling out next week, along with a parallel effort on Facebook Messenger. On Messenger, the button can be accessed by pressing and holding down the “heart” button.
More from DeadlineFacebook Canceling All Events With 50 Or More Attendees Until June 2021; Zuckerberg Encourages Working From HomeFox News, Facebook To Host Coronavirus Virtual Town HallFacebook To Invest $100M In News Outlets During Coronavirus Crisis
In a tweet, Facebook tech communications manager Alexandru Voica called it “a way for people to share their support with one another during this unprecedented time.
The “Care Reaction,” as the company calls it, shows a heart being hugged. It will sit next to others indicating anger, sadness, love and other emotions in response to posts, comments, images, videos, or other content. It will start rolling out next week, along with a parallel effort on Facebook Messenger. On Messenger, the button can be accessed by pressing and holding down the “heart” button.
More from DeadlineFacebook Canceling All Events With 50 Or More Attendees Until June 2021; Zuckerberg Encourages Working From HomeFox News, Facebook To Host Coronavirus Virtual Town HallFacebook To Invest $100M In News Outlets During Coronavirus Crisis
In a tweet, Facebook tech communications manager Alexandru Voica called it “a way for people to share their support with one another during this unprecedented time.
- 4/17/2020
- by Dade Hayes
- Deadline Film + TV
With all the glam and glitz of the just-wrapped Golden Globes ceremony giving way to the coming madness of January — TCA! CES! Sundance! Natpe! — Hollywood is bracing for a momentous year ahead.
The largest media conglomerates are in the throes of a transition that has been simplistically described as the onset of “streaming wars,” a response to the disruption that has touched every corner of the industry. Conversations on the Globes red carpet this year ranged from laying odds on winners and losers in the direct-to-consumer gold rush, to the shifting sands in the film business, to hand-wringing over the possibility of a work stoppage crippling the town later this year as the Writers Guild of America, the Directors Guild of America and SAG-aftra head into master contract negotiations.
Of course, there’s the lingering impasse between Hollywood’s top talent agencies and the WGA, a fight that has sparked...
The largest media conglomerates are in the throes of a transition that has been simplistically described as the onset of “streaming wars,” a response to the disruption that has touched every corner of the industry. Conversations on the Globes red carpet this year ranged from laying odds on winners and losers in the direct-to-consumer gold rush, to the shifting sands in the film business, to hand-wringing over the possibility of a work stoppage crippling the town later this year as the Writers Guild of America, the Directors Guild of America and SAG-aftra head into master contract negotiations.
Of course, there’s the lingering impasse between Hollywood’s top talent agencies and the WGA, a fight that has sparked...
- 1/8/2020
- by Cynthia Littleton
- Variety Film + TV
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