Shares of Snapchat parent Snap popped 26% in late trading after the social media network said revenue jumped more than expected last quarter to $1.195 billion, up 21% from 2023. The number, and the outlook for the current quarter were nicely above Wall Street forecasts, as were daily active users, which hit 422 million.
Snap shares tend to be volatile — up or down — in response to quarterly earnings and today is no exception.
The company said the upbeat number was driven by improvements in its advertising platform and an increase in demand for its direct-response advertising offerings. The company has hard a hard time competing with giants Facebook and has been working on its platform for years.
Snapchat+ grew to more than 9 million subscribers in Q1.
Higher revenue drove adjusted Ebitda of $46 million and free cash flow of $38 million in
“The value we provide our community and advertising partners has translated into improved financial performance,...
Snap shares tend to be volatile — up or down — in response to quarterly earnings and today is no exception.
The company said the upbeat number was driven by improvements in its advertising platform and an increase in demand for its direct-response advertising offerings. The company has hard a hard time competing with giants Facebook and has been working on its platform for years.
Snapchat+ grew to more than 9 million subscribers in Q1.
Higher revenue drove adjusted Ebitda of $46 million and free cash flow of $38 million in
“The value we provide our community and advertising partners has translated into improved financial performance,...
- 4/25/2024
- by Jill Goldsmith
- Deadline Film + TV
Miranda Kerr has welcomed her fourth child into the world!
The news was appropriately announced on Snapchat as her husband Evan Spiegel is the co-founder and CEO of the social media app.
Keep reading to find out more…
“We are overjoyed by the arrival of our little ray of sunshine, Pierre Kerr Spiegel. We couldn’t be more excited to welcome our fourth son into our family. Feeling so very blessed...
The news was appropriately announced on Snapchat as her husband Evan Spiegel is the co-founder and CEO of the social media app.
Keep reading to find out more…
“We are overjoyed by the arrival of our little ray of sunshine, Pierre Kerr Spiegel. We couldn’t be more excited to welcome our fourth son into our family. Feeling so very blessed...
- 2/27/2024
- by Just Jared
- Just Jared
One day after announcing plans to reduce its workforce by 10 percent, Snap Inc. reported fourth-quarter 2023 earnings that mostly beat Wall Street expectations.
The tech company, led by CEO Evan Spiegel, reported revenue of $1.36 billion in Q4, up 5 percent compared to the same quarter last year. It also reported a net loss of $248 million in the quarter, compared to $288 million a year earlier.
Daily active users were 414 million, and the company says that its AI-powered subscription service Snapchat+ now has 7 million subscribers.
“2023 was a pivotal year for Snap, as we transformed our advertising business and continued to expand our global community, reaching 414 million daily active users,” said Spiegel in a statement. “Snapchat enhances relationships with friends, family, and the world, and this unique value proposition has provided a strong foundation to build our business for long-term growth.”...
The tech company, led by CEO Evan Spiegel, reported revenue of $1.36 billion in Q4, up 5 percent compared to the same quarter last year. It also reported a net loss of $248 million in the quarter, compared to $288 million a year earlier.
Daily active users were 414 million, and the company says that its AI-powered subscription service Snapchat+ now has 7 million subscribers.
“2023 was a pivotal year for Snap, as we transformed our advertising business and continued to expand our global community, reaching 414 million daily active users,” said Spiegel in a statement. “Snapchat enhances relationships with friends, family, and the world, and this unique value proposition has provided a strong foundation to build our business for long-term growth.”...
- 2/6/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Snap, parent of Snapchat, said to today it plans to reduce its global headcount of full time employees by about 10%, or more than 500 people, in its latest round of staff cuts amid copious tech sector layoffs from Amazon to Google to Microsoft.
“In order to best position our business to execute on our highest priorities, and to ensure we have the capacity to invest incrementally to support our growth over time, we have made the difficult decision to restructure our team,” the company said in an SEC filing.
The company estimated the move will incur pre-tax charges in the range of $55 million to $75 million, primarily consisting of severance and related costs, and other charges, of which $45 million to $55 million are expected to be future cash expenditures. The majority of these costs are expected to be incurred during the first quarter of 2024.
Snap said that potential position eliminations in each country...
“In order to best position our business to execute on our highest priorities, and to ensure we have the capacity to invest incrementally to support our growth over time, we have made the difficult decision to restructure our team,” the company said in an SEC filing.
The company estimated the move will incur pre-tax charges in the range of $55 million to $75 million, primarily consisting of severance and related costs, and other charges, of which $45 million to $55 million are expected to be future cash expenditures. The majority of these costs are expected to be incurred during the first quarter of 2024.
Snap said that potential position eliminations in each country...
- 2/5/2024
- by Jill Goldsmith
- Deadline Film + TV
Another day, another round of tech layoffs.
Snapchat owner Snap on Monday said that it would be slashing its global workforce by 10 percent.
The company disclosed the news in a securities filing, writing that “in order to best position our business to execute on our highest priorities, and to ensure we have the capacity to invest incrementally to support our growth over time, we have made the difficult decision to restructure our team.”
Snap, led by CEO Evan Spiegel, says it expects to incur charges in the range of $55 million to $75 million in connection with the cuts.
A Snap spokesperson told The Hollywood Reporter that “we are reorganizing our team to reduce hierarchy and promote in-person collaboration. We are focused on supporting our departing team members and we are very grateful for their hard work and many contributions to Snap.”
The cuts at Snap come amid a larger wave of layoffs at tech companies,...
Snapchat owner Snap on Monday said that it would be slashing its global workforce by 10 percent.
The company disclosed the news in a securities filing, writing that “in order to best position our business to execute on our highest priorities, and to ensure we have the capacity to invest incrementally to support our growth over time, we have made the difficult decision to restructure our team.”
Snap, led by CEO Evan Spiegel, says it expects to incur charges in the range of $55 million to $75 million in connection with the cuts.
A Snap spokesperson told The Hollywood Reporter that “we are reorganizing our team to reduce hierarchy and promote in-person collaboration. We are focused on supporting our departing team members and we are very grateful for their hard work and many contributions to Snap.”
The cuts at Snap come amid a larger wave of layoffs at tech companies,...
- 2/5/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
A Congressional hearing featuring five notable tech CEOs proved to be as combative as advertised. Meta‘s Mark Zuckerberg, TikTok‘s Shou Zi Chew, X‘s Linda Yaccarino, Snapchat‘s Evan Spiegel, and Discord‘s Jason Citron defended their companies’ safeguards for underage users during a four-hour Capitol Hill gathering on January 31.
The Senate Judiciary Committee summoned the five CEOs to speak about child safety on social media. That subject is one of the pillars of the Biden Administration’s tech policy platform; the U.S. President stressed the need to protect minors online during his first State of the Union address.
When the latest Big Tech hearing was first announced, Judiciary Committee leaders Dick Durbin (D-il) and Lindsay Graham (R-sc) cited security and safety lapses that have affected minors online. Those topics came up again at the hearing, which was attended by parents whose children have been negatively affected by social media.
The Senate Judiciary Committee summoned the five CEOs to speak about child safety on social media. That subject is one of the pillars of the Biden Administration’s tech policy platform; the U.S. President stressed the need to protect minors online during his first State of the Union address.
When the latest Big Tech hearing was first announced, Judiciary Committee leaders Dick Durbin (D-il) and Lindsay Graham (R-sc) cited security and safety lapses that have affected minors online. Those topics came up again at the hearing, which was attended by parents whose children have been negatively affected by social media.
- 1/31/2024
- by Sam Gutelle
- Tubefilter.com
Parents of deceased and exploited children heckled Meta CEO Mark Zuckerberg on Wednesday during a Senate hearing on the role tech companies play in online child sexual exploitation.
Parents holding photos of their deceased children, many of whom died by suicide, audibly hissed at Zuckerberg as he entered the chamber. According to NBC News, some of the family members who attended the hearing hold Meta’s subsidiary, Instagram, responsible for facilitating the abuse and suicide of their children.
As the CEO gave his opening statement to lawmakers, he acknowledged the families’ presence in the room.
Parents holding photos of their deceased children, many of whom died by suicide, audibly hissed at Zuckerberg as he entered the chamber. According to NBC News, some of the family members who attended the hearing hold Meta’s subsidiary, Instagram, responsible for facilitating the abuse and suicide of their children.
As the CEO gave his opening statement to lawmakers, he acknowledged the families’ presence in the room.
- 1/31/2024
- by Nikki McCann Ramirez
- Rollingstone.com
Meta CEO Mark Zuckerberg, X CEO Linda Yaccarino and other tech industry leaders faced a grilling from lawmakers today as they appeared for a landmark Senate hearing on the online exploitation of children.
Senate Judiciary Committee Chairman Dick Durbin (D-il) blamed the tech platforms at the outset for allowing the exploitation to proliferate, while dismissing the latest efforts the companies have taken to boost safety.
“They are responsible for many of the dangers our children face online,” Durbin said, calling it a “crisis in America.”
“Mr. Zuckerberg, you and the companies before us, I know you don’t mean it to be so, but you have blood on your hands. You have a product that is killing people,” said the top Republican on the committee, Sen. Lindsey Graham (R-Sc), told Zuckerberg, as he sat at the witness table.
He called for the repeal of Section 230, the provision of a...
Senate Judiciary Committee Chairman Dick Durbin (D-il) blamed the tech platforms at the outset for allowing the exploitation to proliferate, while dismissing the latest efforts the companies have taken to boost safety.
“They are responsible for many of the dangers our children face online,” Durbin said, calling it a “crisis in America.”
“Mr. Zuckerberg, you and the companies before us, I know you don’t mean it to be so, but you have blood on your hands. You have a product that is killing people,” said the top Republican on the committee, Sen. Lindsey Graham (R-Sc), told Zuckerberg, as he sat at the witness table.
He called for the repeal of Section 230, the provision of a...
- 1/31/2024
- by Ted Johnson
- Deadline Film + TV
Miranda Kerr, who is pregnant with her fourth child, shared a behind-the-scenes glimpse of her holiday celebrations. Her post included a photo of her posing by a Christmas tree with her hand resting on her baby bump, reports People magazine.
She was dressed for the festive occasion in a red form-fitting dress with shiny embellishments on the straps. “‘Tis the season (sic),” she wrote in the caption.
As per People, she also shared a look at her Christmas table, decorated with boughs of holly, candles and embroidered cloth napkins tied with green ribbons. Another image showed Kerr posing by the table with a group of women.
The carousel also included a snap of stockings featuring the names of her three sons. Kerr is mom to Hart, 5, and Myles, 4, with her husband, Snapchat founder Evan Spiegel. She also shares Flynn, 12, with her ex-husband Orlando Bloom.
Kerr announced her latest pregnancy on Snapchat in September.
She was dressed for the festive occasion in a red form-fitting dress with shiny embellishments on the straps. “‘Tis the season (sic),” she wrote in the caption.
As per People, she also shared a look at her Christmas table, decorated with boughs of holly, candles and embroidered cloth napkins tied with green ribbons. Another image showed Kerr posing by the table with a group of women.
The carousel also included a snap of stockings featuring the names of her three sons. Kerr is mom to Hart, 5, and Myles, 4, with her husband, Snapchat founder Evan Spiegel. She also shares Flynn, 12, with her ex-husband Orlando Bloom.
Kerr announced her latest pregnancy on Snapchat in September.
- 12/25/2023
- by Agency News Desk
- GlamSham
Political junkies and online video observers should circle January 31, 2024 on their calendars. That’s when the CEOs of five major tech companies — Meta, X, TikTok, Snap, and Discord — will visit the U.S. Capitol to answer questions related to child safety on social media.
The hearing will be hosted by the Senate Judiciary Committee, which will grill the assembled execs about their “failure to protect children online.” That’s how Judiciary Committee leaders Dick Durbin (D-il) and Lindsay Graham (R-Sc) described Big Tech’s security and safety lapses in a press release announcing the hearing.
This will not be the first time that tech execs have faced off against a hostile Congressional committee. Representatives from YouTube and TikTok address concerns about data privacy during a contentious 2022 hearing. A few months later, TikTok CEO Shou Zi Chew took his turn in the Senatorial spotlight as he looked to fend off...
The hearing will be hosted by the Senate Judiciary Committee, which will grill the assembled execs about their “failure to protect children online.” That’s how Judiciary Committee leaders Dick Durbin (D-il) and Lindsay Graham (R-Sc) described Big Tech’s security and safety lapses in a press release announcing the hearing.
This will not be the first time that tech execs have faced off against a hostile Congressional committee. Representatives from YouTube and TikTok address concerns about data privacy during a contentious 2022 hearing. A few months later, TikTok CEO Shou Zi Chew took his turn in the Senatorial spotlight as he looked to fend off...
- 11/30/2023
- by Sam Gutelle
- Tubefilter.com
On Dec. 6, CEOs from some of the biggest social media platforms will testify before the Senate Judiciary Committee, where they are set to face tough questions about what their platforms are doing to keep children safe from sexual exploitation and abuse.
Sens. Dick Durbin and Lindsey Graham on Monday announced the bipartisan subpoenas of three executives who have reportedly been less than communicative with Congress about the issue of child sexual exploitation on their apps: Linda Yaccarino, head of X (formerly Twitter), Snap CEO Evan Spiegel, and Discord‘s Jason Citron.
Sens. Dick Durbin and Lindsey Graham on Monday announced the bipartisan subpoenas of three executives who have reportedly been less than communicative with Congress about the issue of child sexual exploitation on their apps: Linda Yaccarino, head of X (formerly Twitter), Snap CEO Evan Spiegel, and Discord‘s Jason Citron.
- 11/20/2023
- by Miles Klee
- Rollingstone.com
Salma Hayek Pinault was honored at Baby2Baby’s annual gala Saturday night, where she was recognized for her commitment to giving back to children in need around the world.
Hayek Pinault’s Giving Tree Award was presented by her Magic Mike’s Last Dance co-star Channing Tatum, who called her “one of the most magical and mystically intuitive beings that has, in my opinion, ever walked this earth.”
Upon taking the stage, the star called Tatum “family to us,” joking he is known as “Channing Tatum Pinault Hayek.” She also declared, “I am such a big fan of this organization, and I have a lot of respect for it, and I don’t have a lot of respect for many organizations.” Baby2Baby is a nonprofit that provides children living in poverty the basic necessities and has distributed more than 375 million essential items including diapers, formula and clothing over the last 12 years.
Hayek Pinault’s Giving Tree Award was presented by her Magic Mike’s Last Dance co-star Channing Tatum, who called her “one of the most magical and mystically intuitive beings that has, in my opinion, ever walked this earth.”
Upon taking the stage, the star called Tatum “family to us,” joking he is known as “Channing Tatum Pinault Hayek.” She also declared, “I am such a big fan of this organization, and I have a lot of respect for it, and I don’t have a lot of respect for many organizations.” Baby2Baby is a nonprofit that provides children living in poverty the basic necessities and has distributed more than 375 million essential items including diapers, formula and clothing over the last 12 years.
- 11/12/2023
- by Kirsten Chuba
- The Hollywood Reporter - Movie News
Actress-model Miranda Kerr, while reminiscing about how her romance with Evan Spiegel came to be, has shared a photo from a 2014 fashion event, where she first met her now husband.
Shaking a picture of her first meeting with the entrepreneur on Instagram, the Australian model could be seen shaking his hand. She wrote in the caption: “On this day in 2014, fate (and @louisvuitton) brought Evan and I together at a dinner at the Moma in NYC. The magical moment we met was captured 9 years ago.”
In the comment section, Teresa Palmer pointed out Kerr and Spiegel’s chemistry, writing: “This is amazing!!! I can see the vibes already brewing.” Spiegel, 33, opened up about their first encounter in a July 2022 interview with Vogue Australia as per People.
“I had a nice time at dinner with a lovely woman but thought I had absolutely no chance. I gave her my number because...
Shaking a picture of her first meeting with the entrepreneur on Instagram, the Australian model could be seen shaking his hand. She wrote in the caption: “On this day in 2014, fate (and @louisvuitton) brought Evan and I together at a dinner at the Moma in NYC. The magical moment we met was captured 9 years ago.”
In the comment section, Teresa Palmer pointed out Kerr and Spiegel’s chemistry, writing: “This is amazing!!! I can see the vibes already brewing.” Spiegel, 33, opened up about their first encounter in a July 2022 interview with Vogue Australia as per People.
“I had a nice time at dinner with a lovely woman but thought I had absolutely no chance. I gave her my number because...
- 11/9/2023
- by Agency News Desk
- GlamSham
Actress-model Miranda Kerr, while reminiscing about how her romance with Evan Spiegel came to be, has shared a photo from a 2014 fashion event, where she first met her now husband.
Shaking a picture of her first meeting with the entrepreneur on Instagram, the Australian model could be seen shaking his hand. She wrote in the caption: “On this day in 2014, fate (and @louisvuitton) brought Evan and I together at a dinner at the Moma in NYC. The magical moment we met was captured 9 years ago.”
In the comment section, Teresa Palmer pointed out Kerr and Spiegel’s chemistry, writing: “This is amazing!!! I can see the vibes already brewing.” Spiegel, 33, opened up about their first encounter in a July 2022 interview with Vogue Australia as per People.
“I had a nice time at dinner with a lovely woman but thought I had absolutely no chance. I gave her my number because...
Shaking a picture of her first meeting with the entrepreneur on Instagram, the Australian model could be seen shaking his hand. She wrote in the caption: “On this day in 2014, fate (and @louisvuitton) brought Evan and I together at a dinner at the Moma in NYC. The magical moment we met was captured 9 years ago.”
In the comment section, Teresa Palmer pointed out Kerr and Spiegel’s chemistry, writing: “This is amazing!!! I can see the vibes already brewing.” Spiegel, 33, opened up about their first encounter in a July 2022 interview with Vogue Australia as per People.
“I had a nice time at dinner with a lovely woman but thought I had absolutely no chance. I gave her my number because...
- 11/9/2023
- by Agency News Desk
Snapchat parent Snap hit a warning note on the ad front today, saying “forward visibility of advertising demand” is limited in part by reduced spending due to the Israel-Hamas war.
“We have had a number of primarily brand-oriented campaigns that paused spending in the early period at the onset of the war in the Middle East,” CEO of the social media platform Evan Spiegel told analysts on a call after third quarter financial results — raising the question of what’s in store from other media companies as earnings rolll out.
“I will say that we have seen a lot of those campaigns resume and the impact to our daily run rate has reduced significantly as a result of that. But we also have seen a small amount of incremental camaign pauses trickle in more recently.”
“When we look back historically, for example to what we all experienced at the onset...
“We have had a number of primarily brand-oriented campaigns that paused spending in the early period at the onset of the war in the Middle East,” CEO of the social media platform Evan Spiegel told analysts on a call after third quarter financial results — raising the question of what’s in store from other media companies as earnings rolll out.
“I will say that we have seen a lot of those campaigns resume and the impact to our daily run rate has reduced significantly as a result of that. But we also have seen a small amount of incremental camaign pauses trickle in more recently.”
“When we look back historically, for example to what we all experienced at the onset...
- 10/24/2023
- by Jill Goldsmith
- Deadline Film + TV
Snapchat parent Snap returned to revenue growth in the third quarter, surprising Wall Street, and clocked gains in daily active users (DAUs), as net losses widened on a restructuring charge amid layoffs. The company hit a dour note on the ad front, saying “forward visibility of advertising demand remains limited” and noting that the Mideast war has paused spending by some brand-oriented campaings.
Revenue rose to $1.18 billion from $1.13 billion for the three months ended in September after falling in both the first and second quarters for the first time since the company went public in 2017.
Net losses widened to $368 million from $359 million. A wind down of its Ar Enterprise business, which included a reduction of our global employee headcount by approximately 3% led to restructuring charges of $18.6 million, composed primarily of cash severance and stock-based compensation expenses.
Daily active users increased 12% year-over-year to 406 million. The company anticipates continued growth in its...
Revenue rose to $1.18 billion from $1.13 billion for the three months ended in September after falling in both the first and second quarters for the first time since the company went public in 2017.
Net losses widened to $368 million from $359 million. A wind down of its Ar Enterprise business, which included a reduction of our global employee headcount by approximately 3% led to restructuring charges of $18.6 million, composed primarily of cash severance and stock-based compensation expenses.
Daily active users increased 12% year-over-year to 406 million. The company anticipates continued growth in its...
- 10/24/2023
- by Jill Goldsmith
- Deadline Film + TV
Snapchat owner Snap Inc. reported its third-quarter earnings Tuesday afternoon, beating Wall Street expectations on both revenue and earnings per share. The company reported revenue of $1.2 billion and an Eps of $0.02.
Wall Street had been expecting revenue of $1.11 billion and earnings per share of -0.04.
The company also said that its daily active user base had grown to 406 million, an improvement of 12 percent year-over-year. However, the company continues to lose money, recording a $368 million loss in Q3.
Snap, led by CEO Evan Spiegel, had warned that Q3 would be difficult in its last quarterly report, when it disclosed 397 million daily active users and losses of $377 million. It seems he may have been somewhat overly cautious.
“Our revenue returned to positive growth in Q3, increasing 5% year-over-year and flowing through to positive adjusted Ebitda as our reprioritized cost structure demonstrated the leverage in our business model,” said Spiegel in a statement. “We...
Wall Street had been expecting revenue of $1.11 billion and earnings per share of -0.04.
The company also said that its daily active user base had grown to 406 million, an improvement of 12 percent year-over-year. However, the company continues to lose money, recording a $368 million loss in Q3.
Snap, led by CEO Evan Spiegel, had warned that Q3 would be difficult in its last quarterly report, when it disclosed 397 million daily active users and losses of $377 million. It seems he may have been somewhat overly cautious.
“Our revenue returned to positive growth in Q3, increasing 5% year-over-year and flowing through to positive adjusted Ebitda as our reprioritized cost structure demonstrated the leverage in our business model,” said Spiegel in a statement. “We...
- 10/24/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
Snap‘s ongoing financial woes are leading to another round of layoffs. The parent company of Snapchat will let go of “approximately 170 team members” as it shifts its priorities within its augmented reality (Ar) division.
The layoffs will result in the dissolution of Snap’s Ar Enterprise Services team. That business-facing division, known by the acronym Ares, is getting shuttered just six months after it was first unveiled.
In a letter shared with Snap employees, CEO Evan Spiegel shared a multi-part rationale for the latest round of pink slips. A key factor leading to the shutdown of Ares is the rise of generative AI. That technology has made it possible for brands to experiment with Ar in a cost-effective manner, and Snap could not figure out a way to differentiate its offering.
Snap’s uneven revenue figures are also impacting its personnel decisions. The cA ompany’s stock dipped in...
The layoffs will result in the dissolution of Snap’s Ar Enterprise Services team. That business-facing division, known by the acronym Ares, is getting shuttered just six months after it was first unveiled.
In a letter shared with Snap employees, CEO Evan Spiegel shared a multi-part rationale for the latest round of pink slips. A key factor leading to the shutdown of Ares is the rise of generative AI. That technology has made it possible for brands to experiment with Ar in a cost-effective manner, and Snap could not figure out a way to differentiate its offering.
Snap’s uneven revenue figures are also impacting its personnel decisions. The cA ompany’s stock dipped in...
- 9/28/2023
- by Sam Gutelle
- Tubefilter.com
Miranda Kerr is pregnant with her fourth child! The Australian beauty, 40, announced the exciting news Friday on her Snapchat account.
The unborn child will be Kerr and husband, Snapchat co-founder and CEO Evan Spiegel’s third kid together. The couple, who wed in 2017, already share sons Myles, who turns four next month, and Hart, 5, together. Kerr is also a mom to son Flynn, 12, whom she shares with her ex-husband, Orlando Bloom.
“So excited to announce baby number 4,” Kerr captioned her Snapchat Story, featuring a pic of herself in a green garden, exposing her bump in a cropped tank top and jeans.
Read More: Katy Perry Gushes About Her ‘Sister From Another Mister’ Miranda Kerr: ‘I Love Our Modern Family’
Photo: Snapchat/ @MirandaKerr
“And it’s a boy,” she revealed in a second photo.
Photo: Snapchat/ @MirandaKerr
The model-turned-businesswoman celebrated the happy news by sharing another snapshot of four pairs of...
The unborn child will be Kerr and husband, Snapchat co-founder and CEO Evan Spiegel’s third kid together. The couple, who wed in 2017, already share sons Myles, who turns four next month, and Hart, 5, together. Kerr is also a mom to son Flynn, 12, whom she shares with her ex-husband, Orlando Bloom.
“So excited to announce baby number 4,” Kerr captioned her Snapchat Story, featuring a pic of herself in a green garden, exposing her bump in a cropped tank top and jeans.
Read More: Katy Perry Gushes About Her ‘Sister From Another Mister’ Miranda Kerr: ‘I Love Our Modern Family’
Photo: Snapchat/ @MirandaKerr
“And it’s a boy,” she revealed in a second photo.
Photo: Snapchat/ @MirandaKerr
The model-turned-businesswoman celebrated the happy news by sharing another snapshot of four pairs of...
- 9/1/2023
- by Melissa Romualdi
- ET Canada
Snap‘s Q2 2023 earnings met Wall Street estimates, but its results weren’t strong enough to stop its stock from tumbling. The parent company of Snapchat saw its share price fall by more than 15% after it forecasted revenue losses for the third quarter of the year.
During April, May, and June, Snap reported $1.07 billion of revenue and a net loss of $377 million. Though those numbers exceeded projections, Snap’s revenue still declined by 4%. The company’s flagship app added 14 million daily active users to reach 397 million DAUs overall.
Snap is not expecting its rough seas to settle during Q3. Its Q2 earnings report included some guidance for the following three months, including a projection of flat or declining earnings. “From a revenue perspective, our business remains in a period of rapid transition as we work to improve our advertising platform, while forward visibility of advertising demand remains limited,” reads the report.
During April, May, and June, Snap reported $1.07 billion of revenue and a net loss of $377 million. Though those numbers exceeded projections, Snap’s revenue still declined by 4%. The company’s flagship app added 14 million daily active users to reach 397 million DAUs overall.
Snap is not expecting its rough seas to settle during Q3. Its Q2 earnings report included some guidance for the following three months, including a projection of flat or declining earnings. “From a revenue perspective, our business remains in a period of rapid transition as we work to improve our advertising platform, while forward visibility of advertising demand remains limited,” reads the report.
- 7/26/2023
- by Sam Gutelle
- Tubefilter.com
Snap’s daily active users jumped 14% year-on-year for the second quarter, the platform said today, to 397 million even as revenue dipped in a tough ad market and with little visibility ahead.
“We are excited by the progress we have made delivering increased return on investment for our advertising partners, growing our community to 397 million daily active users, and reaching more than 4 million Snapchat+ subscribers,” said CEO Evan Spiegel. DAUs also increased sequentially in all regions.
Snapchat+, a subscription service that offers exclusive, experimental, and pre-release features, passed 4 million paying subscribers in Q2, a year after launch.
Net losses of $377 million were narrowed, from $422 million on revenue of $1.07 million, down 4% from the prior year. “From a revenue perspective, our business remains in a period of rapid transition as we work to improve our advertising platform, while forward visibility of advertising demand remains limited,” the company said, guiding the Street $1.07-$1.13 billion...
“We are excited by the progress we have made delivering increased return on investment for our advertising partners, growing our community to 397 million daily active users, and reaching more than 4 million Snapchat+ subscribers,” said CEO Evan Spiegel. DAUs also increased sequentially in all regions.
Snapchat+, a subscription service that offers exclusive, experimental, and pre-release features, passed 4 million paying subscribers in Q2, a year after launch.
Net losses of $377 million were narrowed, from $422 million on revenue of $1.07 million, down 4% from the prior year. “From a revenue perspective, our business remains in a period of rapid transition as we work to improve our advertising platform, while forward visibility of advertising demand remains limited,” the company said, guiding the Street $1.07-$1.13 billion...
- 7/25/2023
- by Jill Goldsmith
- Deadline Film + TV
Snapchat owner Snap Inc. beat Wall Street estimates in its second quarter earnings report, with revenues of $1.07 billion topping the $1.05 billion expectation, and it narrowed its quarterly losses to $377.3 million.
Still, a difficult year-over-year comparison (revenues were down 4 percent from a year ago) and a warning for Q3 sent the share price tumbling after market hours.
The company said that its user base has grown to 397 million daily active users, with more than 4 million Snapchat+ subscribers.
Snap touted its revenue growth of 8 percent compared to Q1, citing changes to its ad platform. But the advertising business is also the source of much uncertainty.
“From a revenue perspective, our business remains in a period of rapid transition as we work to improve our advertising platform, while forward visibility of advertising demand remains limited,” the company said in its Q3 guidance, adding that its expects revenue growth to be down 5 percent to flat,...
Still, a difficult year-over-year comparison (revenues were down 4 percent from a year ago) and a warning for Q3 sent the share price tumbling after market hours.
The company said that its user base has grown to 397 million daily active users, with more than 4 million Snapchat+ subscribers.
Snap touted its revenue growth of 8 percent compared to Q1, citing changes to its ad platform. But the advertising business is also the source of much uncertainty.
“From a revenue perspective, our business remains in a period of rapid transition as we work to improve our advertising platform, while forward visibility of advertising demand remains limited,” the company said in its Q3 guidance, adding that its expects revenue growth to be down 5 percent to flat,...
- 7/25/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
New Delhi, April 28 (Ians) Snap, the parent company of Snapchat, saw its shares nosediving 20 per cent after missing Wall Street estimates in the first quarter (Q1) earnings.
Snap’s revenue dropped 7 per cent to $989 million from $1.063 billion during the year-earlier period, while the net loss narrowed from $360 million to $329 million.
Free cash flow was $103 million, compared to $106 million in the prior year.
Daily active users increased 15 per cent (year-over-year) to 383 million, the company said in a statement.
“Our community continues to grow, reaching 383 million daily active users in Q1, and we are working to deepen engagement with our content platform while building innovative new features and services like My AI,” said Evan Spiegel, CEO.
“We are working to accelerate our revenue growth and we are using this opportunity to make significant improvements to our advertising platform to help drive increased return on investment for our advertising partners,” he added.
For...
Snap’s revenue dropped 7 per cent to $989 million from $1.063 billion during the year-earlier period, while the net loss narrowed from $360 million to $329 million.
Free cash flow was $103 million, compared to $106 million in the prior year.
Daily active users increased 15 per cent (year-over-year) to 383 million, the company said in a statement.
“Our community continues to grow, reaching 383 million daily active users in Q1, and we are working to deepen engagement with our content platform while building innovative new features and services like My AI,” said Evan Spiegel, CEO.
“We are working to accelerate our revenue growth and we are using this opportunity to make significant improvements to our advertising platform to help drive increased return on investment for our advertising partners,” he added.
For...
- 4/28/2023
- by Agency News Desk
- GlamSham
Snapchat parent company Snap Inc. saw its total revenue drop by 7 percent to $989.6 million, falling within the company’s expectations but missing Wall Street’s consensus, as net losses shrunk by 9 percent to $328.7 million during the first quarter.
The tech and social platform last reported $1.3 billion in revenue and $288 million in net losses during the fourth quarter, with Snap CEO Evan Spiegel warning in January of “significant headwinds” that would continue to impact the company’s business. At the time, Snap forecasted it would see its Q1 revenue decline between 2 to 10 percent.
Snap’s first-quarter adjusted Ebitda also dropped down by 99 percent to $813,000, down from $64.5 million in 2022. And as a sign for what may come ahead, the company is declining to provide revenue or adjusted Ebitda guidance for the current quarter but said its “internal forecast” was for revenue to drop 6 percent to $1.04 billion during Q2, according to Snap’s investor letter.
The tech and social platform last reported $1.3 billion in revenue and $288 million in net losses during the fourth quarter, with Snap CEO Evan Spiegel warning in January of “significant headwinds” that would continue to impact the company’s business. At the time, Snap forecasted it would see its Q1 revenue decline between 2 to 10 percent.
Snap’s first-quarter adjusted Ebitda also dropped down by 99 percent to $813,000, down from $64.5 million in 2022. And as a sign for what may come ahead, the company is declining to provide revenue or adjusted Ebitda guidance for the current quarter but said its “internal forecast” was for revenue to drop 6 percent to $1.04 billion during Q2, according to Snap’s investor letter.
- 4/27/2023
- by J. Clara Chan
- The Hollywood Reporter - Movie News
Snap CEO Evan Spiegel says a U.S. ban on TikTok would be beneficial in the “short term” but shared his concerns about the longer-term implications of “singling out a single technology company.”
“We’d love that in the short term,” Spiegel said in an interview with Kara Swisher at the tech and social platform’s Snap Partner Summit on Wednesday. “I do think it is important for us to be thoughtful and really develop a regulatory framework to deal with national security concerns, especially around technology. And I think based on the information that is publicly available, there are legitimate national security concerns far above my pay grade and security clearance.”
TikTok has faced massive scrutiny from Congress based on data and privacy concerns due to its ownership by the Beijing-based company ByteDance, even though there has not been evidence that TikTok has handed over American user data to the Chinese government.
“We’d love that in the short term,” Spiegel said in an interview with Kara Swisher at the tech and social platform’s Snap Partner Summit on Wednesday. “I do think it is important for us to be thoughtful and really develop a regulatory framework to deal with national security concerns, especially around technology. And I think based on the information that is publicly available, there are legitimate national security concerns far above my pay grade and security clearance.”
TikTok has faced massive scrutiny from Congress based on data and privacy concerns due to its ownership by the Beijing-based company ByteDance, even though there has not been evidence that TikTok has handed over American user data to the Chinese government.
- 4/20/2023
- by J. Clara Chan
- The Hollywood Reporter - Movie News
Since 2019, the company behind Snapchat has hosted a Snap Partner Summit to share its latest news and upcoming products. The 2023 edition of the Summit included a handful of exciting announcements. Snap Head of Talent Development Brooke Berry revealed that Snapchat creators with at least 50,000 followers and 25 million monthly views will now be eligible for the app’s Stories monetization program.
Last year, Snap began sharing revenue on midroll ads that appear in its Stories. After piloting that program alongside a select group of creators, the app is now expanding Stories monetization. Creators “may be eligible” to profit from their Stories so long as they meet the above criteria and share at least 10 of the disappearing posts each month. More details about those criteria are available through Snap’s Creator Hub.
“Creators in the Stories revenue share program are posting more often to Snapchat and our community is loving the content they’re creating,...
Last year, Snap began sharing revenue on midroll ads that appear in its Stories. After piloting that program alongside a select group of creators, the app is now expanding Stories monetization. Creators “may be eligible” to profit from their Stories so long as they meet the above criteria and share at least 10 of the disappearing posts each month. More details about those criteria are available through Snap’s Creator Hub.
“Creators in the Stories revenue share program are posting more often to Snapchat and our community is loving the content they’re creating,...
- 4/19/2023
- by Sam Gutelle
- Tubefilter.com
In this nation of 333 islands — where Chris Hemsworth and Elsa Pataky recently spent the holidays — one can’t go anywhere without hearing “Bula!” which means life and is a heartfelt, enthusiastic greeting that makes “hi” seem almost rude.
In May, Jaclyn Sienna India, CEO of ultra-luxury travel concierge Sienna Charles, scouted Fiji for a major actor client and found Navotua, a village where she (and later the actor and her family) stayed and experienced kava ceremonies, traditional welcoming rituals that show respect and reverence for guests. The client “wanted to really understand the culture,” says Sienna India. “They lived with these local tribes for four days in huts on the beach, wearing grass skirts and walking around barefoot.”
The warm hospitality, Sienna India says, was “unreal.” They’d take boats to islands where hardly a soul has stepped and staff caught fish and cooked it for them on the beach.
In May, Jaclyn Sienna India, CEO of ultra-luxury travel concierge Sienna Charles, scouted Fiji for a major actor client and found Navotua, a village where she (and later the actor and her family) stayed and experienced kava ceremonies, traditional welcoming rituals that show respect and reverence for guests. The client “wanted to really understand the culture,” says Sienna India. “They lived with these local tribes for four days in huts on the beach, wearing grass skirts and walking around barefoot.”
The warm hospitality, Sienna India says, was “unreal.” They’d take boats to islands where hardly a soul has stepped and staff caught fish and cooked it for them on the beach.
- 4/8/2023
- by Kathryn Romeyn
- The Hollywood Reporter - Movie News
When Endeavor CEO Ari Emanuel opened his company’s earnings call with prepared remarks Feb. 28, a casual listener hearing him tout the UFC and WME might have missed the most interesting part: Emanuel wasn’t speaking at all.
Well, he sort of was. The words were his, and the voice was his, but rather than Emanuel speaking into a microphone (opening remarks on earnings calls are often pretaped), the comments were the product of a generative artificial intelligence firm called Speechify.
So why did Ari Emanuel (er, “AI Emanuel”?) use his company’s fourth-quarter earnings call to bring machine learning to its financial report? “We’re in business with them, we think they’re a really good company,” Emanuel said of Speechify (and yes, Endeavor disclosed in its earnings press release that the comments would be computer-generated), but he also noted that “we thought with all the conversation around AI...
Well, he sort of was. The words were his, and the voice was his, but rather than Emanuel speaking into a microphone (opening remarks on earnings calls are often pretaped), the comments were the product of a generative artificial intelligence firm called Speechify.
So why did Ari Emanuel (er, “AI Emanuel”?) use his company’s fourth-quarter earnings call to bring machine learning to its financial report? “We’re in business with them, we think they’re a really good company,” Emanuel said of Speechify (and yes, Endeavor disclosed in its earnings press release that the comments would be computer-generated), but he also noted that “we thought with all the conversation around AI...
- 3/8/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
San Francisco, Feb 17 (Ians) Snapchat has crossed over 750 million monthly active users, its parent company Snap announced on Friday.
Snap CEO and co-founder, Evan Spiegel, made this announcement at the company’s “Investor Day”.
“With 375 million daily active users (Dau) reported on January 31, we have now grown Dau by +15 per cent year-over-year for 13 consecutive quarters,” the company said in a statement.
In a blogpost, the company said that at the current growth rate, “we see a path for Snapchat to reach over 1 billion people in the next two to three years.”
More than 60 per cent of Snapchatters who open the application each day create Snaps, and over 70 per cent of users who have downloaded the application engage with augmented reality (Ar) on their first day in the app.
The company further mentioned that “time spent per Spotlight viewer now meaningfully exceeds the time spent watching Friend Stories per Story viewer.
Snap CEO and co-founder, Evan Spiegel, made this announcement at the company’s “Investor Day”.
“With 375 million daily active users (Dau) reported on January 31, we have now grown Dau by +15 per cent year-over-year for 13 consecutive quarters,” the company said in a statement.
In a blogpost, the company said that at the current growth rate, “we see a path for Snapchat to reach over 1 billion people in the next two to three years.”
More than 60 per cent of Snapchatters who open the application each day create Snaps, and over 70 per cent of users who have downloaded the application engage with augmented reality (Ar) on their first day in the app.
The company further mentioned that “time spent per Spotlight viewer now meaningfully exceeds the time spent watching Friend Stories per Story viewer.
- 2/17/2023
- by News Bureau
- GlamSham
San Francisco, Feb 17 (Ians) Snapchat has crossed over 750 million monthly active users, its parent company Snap announced on Friday.
Snap CEO and co-founder, Evan Spiegel, made this announcement at the company’s “Investor Day”.
“With 375 million daily active users (Dau) reported on January 31, we have now grown Dau by +15 per cent year-over-year for 13 consecutive quarters,” the company said in a statement.
In a blogpost, the company said that at the current growth rate, “we see a path for Snapchat to reach over 1 billion people in the next two to three years.”
More than 60 per cent of Snapchatters who open the application each day create Snaps, and over 70 per cent of users who have downloaded the application engage with augmented reality (Ar) on their first day in the app.
The company further mentioned that “time spent per Spotlight viewer now meaningfully exceeds the time spent watching Friend Stories per Story viewer.
Snap CEO and co-founder, Evan Spiegel, made this announcement at the company’s “Investor Day”.
“With 375 million daily active users (Dau) reported on January 31, we have now grown Dau by +15 per cent year-over-year for 13 consecutive quarters,” the company said in a statement.
In a blogpost, the company said that at the current growth rate, “we see a path for Snapchat to reach over 1 billion people in the next two to three years.”
More than 60 per cent of Snapchatters who open the application each day create Snaps, and over 70 per cent of users who have downloaded the application engage with augmented reality (Ar) on their first day in the app.
The company further mentioned that “time spent per Spotlight viewer now meaningfully exceeds the time spent watching Friend Stories per Story viewer.
- 2/17/2023
- by News Bureau
- GlamSham
YouTube, a day after formally launching its revenue-sharing program for YouTube Shorts creators, reported 7.96 billion in advertising revenue to close out the holiday season, falling short of Wall Street expectations of ad revenue crossing the 8 billion mark.
The video giant’s fourth-quarter ad revenue is almost an 8 percent decline from the previous year, when YouTube ended 2021 with 8.63 billion in quarterly ad revenue. The slowdown is a marked change for the Google-owned video giant, which had a strong 2021 that saw YouTube surpassing its ad revenue earnings by 1 billion at one point. But since then, YouTube has seen a decline in its ad revenue due to a slowing ad market that has impacted most major tech companies. Under parent company Alphabet, Google advertising also dropped to about 59 billion during the fourth quarter, down from the 61.2 billion seen at the end of 2021.
In a statement announcing the results, Alphabet CEO Sundar Pichai...
The video giant’s fourth-quarter ad revenue is almost an 8 percent decline from the previous year, when YouTube ended 2021 with 8.63 billion in quarterly ad revenue. The slowdown is a marked change for the Google-owned video giant, which had a strong 2021 that saw YouTube surpassing its ad revenue earnings by 1 billion at one point. But since then, YouTube has seen a decline in its ad revenue due to a slowing ad market that has impacted most major tech companies. Under parent company Alphabet, Google advertising also dropped to about 59 billion during the fourth quarter, down from the 61.2 billion seen at the end of 2021.
In a statement announcing the results, Alphabet CEO Sundar Pichai...
- 2/2/2023
- by J. Clara Chan
- The Hollywood Reporter - Movie News
San Francisco, Feb 2 (Ians) Snap, the parent company of Snapchat, has hinted at future Ar glasses powered by generative AI technology during its fourth-quarter earnings call on Tuesday.
Snap CEO Evan Spiegel agreed that there were numerous opportunities to use generative AI to improve Snap’s camera in the near future, however, he stated that, in the future, AI will be critical to the growth of augmented reality, including Ar glasses, reports TechCrunch.
Moreover, Spiegel mentioned that the company was thinking about how to integrate AI tools into its existing Lens Studio technology for Ar developers.
“We saw a lot of success integrating Snap Ml tools into Lens Studio, and it’s really enabled creators to build some incredible things. We now have 3,00,000 creators who built more than 3 million lenses in Lens Studio,” Spiegel was quoted as saying.
“So, the democratisation of these tools, I think, will also be very powerful,...
Snap CEO Evan Spiegel agreed that there were numerous opportunities to use generative AI to improve Snap’s camera in the near future, however, he stated that, in the future, AI will be critical to the growth of augmented reality, including Ar glasses, reports TechCrunch.
Moreover, Spiegel mentioned that the company was thinking about how to integrate AI tools into its existing Lens Studio technology for Ar developers.
“We saw a lot of success integrating Snap Ml tools into Lens Studio, and it’s really enabled creators to build some incredible things. We now have 3,00,000 creators who built more than 3 million lenses in Lens Studio,” Spiegel was quoted as saying.
“So, the democratisation of these tools, I think, will also be very powerful,...
- 2/2/2023
- by News Bureau
- GlamSham
Snap Inc. brought in 1.3 billion revenue and reported net losses amounting to 288 million to close out 2022 as it prepares for a worsening economy impacting its business.
“We continue to face significant headwinds as we look to accelerate revenue growth, and we are making progress driving improved return on investment for advertisers and innovating to deepen the engagement of our community,” Snap CEO Evan Spiegel, who described 2022 as a “challenging” year, said in announcing the results.
The fourth-quarter revenue results were essentially flat year over year, while the Q4 losses are a marked decline from the previous year, when Snap reported its first-ever quarterly profit of 22.5 million since going public in 2017. Daily active users grew 17 percent year-over-year to 375 million during the quarter, with grow taking place across North America, Europe and what Snap classifies as the rest of the world. The company also said users’ total time spent watching content on Spotlight,...
“We continue to face significant headwinds as we look to accelerate revenue growth, and we are making progress driving improved return on investment for advertisers and innovating to deepen the engagement of our community,” Snap CEO Evan Spiegel, who described 2022 as a “challenging” year, said in announcing the results.
The fourth-quarter revenue results were essentially flat year over year, while the Q4 losses are a marked decline from the previous year, when Snap reported its first-ever quarterly profit of 22.5 million since going public in 2017. Daily active users grew 17 percent year-over-year to 375 million during the quarter, with grow taking place across North America, Europe and what Snap classifies as the rest of the world. The company also said users’ total time spent watching content on Spotlight,...
- 1/31/2023
- by J. Clara Chan
- The Hollywood Reporter - Movie News
Katy Perry has a lot of love for her fiancé Orlando Bloom’s ex-wife Miranda Kerr.
Perry took to the stage over the weekend to honour Kerr with the Excellence in the Arts Award at the annual G’Day USA Arts Gala in Los Angeles.
She then shared some snaps and videos from the lavish bash on Instagram, gushing in the caption: “I loved celebrating my fav Aussie Aussie Aussie (oi oi oi!) & sister from another mister @mirandakerr the other night @gdayusa Art’s Gala.
“Congrats on the honour, I love our modern family & I love @koraorganics Turmeric Glow Moisturizer so much i dressed like it
“Also thank u for introducing me to celery juice I just thought they were those veg stick things I stir me Bloody Mary’s with ,” she jokingly added.
Read More: Katy Perry Admits Making A ‘Huge Mistake’ When She Passed Up A Chance To...
Perry took to the stage over the weekend to honour Kerr with the Excellence in the Arts Award at the annual G’Day USA Arts Gala in Los Angeles.
She then shared some snaps and videos from the lavish bash on Instagram, gushing in the caption: “I loved celebrating my fav Aussie Aussie Aussie (oi oi oi!) & sister from another mister @mirandakerr the other night @gdayusa Art’s Gala.
“Congrats on the honour, I love our modern family & I love @koraorganics Turmeric Glow Moisturizer so much i dressed like it
“Also thank u for introducing me to celery juice I just thought they were those veg stick things I stir me Bloody Mary’s with ,” she jokingly added.
Read More: Katy Perry Admits Making A ‘Huge Mistake’ When She Passed Up A Chance To...
- 1/31/2023
- by Becca Longmire
- ET Canada
Katy Perry and Miranda Kerr were all smiles when they reunited at the G'Day USA Arts Gala in Los Angeles on Jan. 28. The pair's friendship caught fans by surprise, considering Kerr is Orlando Bloom's ex-wife and Perry has been engaged to the actor since Valentine's Day 2019. The couple also share 2-year-old daughter Daisy Dove.
In a speech presenting Kerr with the excellence in the arts award, Perry was quick to dispel any feud rumors, setting the record straight on her friendship with Kerr once and for all. "Some of you might be confused about why I'm introducing Miranda," she said, according to People. "That doesn't play into the antiquated narrative of ex-wives and new wives."
"It's like I gained another sister, one with whom I usually sidebar from the main family chat and agree with."
Addressing the audience, Perry continued, "And yes, it's true, most of the media would...
In a speech presenting Kerr with the excellence in the arts award, Perry was quick to dispel any feud rumors, setting the record straight on her friendship with Kerr once and for all. "Some of you might be confused about why I'm introducing Miranda," she said, according to People. "That doesn't play into the antiquated narrative of ex-wives and new wives."
"It's like I gained another sister, one with whom I usually sidebar from the main family chat and agree with."
Addressing the audience, Perry continued, "And yes, it's true, most of the media would...
- 1/31/2023
- by Chanel Vargas
- Popsugar.com
“I’ll always be an Aussie,” supermodel and entrepreneur Miranda Kerr told the crowd Saturday night at Los Angeles’ Skirball Cultural Center as she was honored along with other Australians in the entertainment industry at the 20th anniversary G’Day USA Arts Gala.
Kerr, “Avatar” star Sam Worthington and rising-star rapper The Kid Laroi were feted by the American Australian Association, a trade organization that nurtures ties between the U.S. and the southern hemisphere powerhouse. The evening also featured an emotional tribute to Olivia Newton-John, the Australian singer-actor who died in August at age 73 after a battle with breast cancer.
“Every day with Olivia was supernatural,” said Paul Hogan, the veteran Australian comedian and performer, recounting his first meeting with Newton-John at a TV taping at the Sydney Opera House in the 1980s. He also remembered his last time working with when her, when he asked her to shoot...
Kerr, “Avatar” star Sam Worthington and rising-star rapper The Kid Laroi were feted by the American Australian Association, a trade organization that nurtures ties between the U.S. and the southern hemisphere powerhouse. The evening also featured an emotional tribute to Olivia Newton-John, the Australian singer-actor who died in August at age 73 after a battle with breast cancer.
“Every day with Olivia was supernatural,” said Paul Hogan, the veteran Australian comedian and performer, recounting his first meeting with Newton-John at a TV taping at the Sydney Opera House in the 1980s. He also remembered his last time working with when her, when he asked her to shoot...
- 1/29/2023
- by Julia MacCary
- Variety Film + TV
Tucked inside technology behemoth Alphabet’s quarterly earnings was a line item that its YouTube video platform suffered a 2 decline in advertising sales — the first decline for the unit since the Google owner began reporting the platform’s revenues in 2019. That’s a harbinger for cable and broadcast networks reporting quarterly results in the next few weeks, as well as streamers hoping to cash in on ad dollars as well as subscription fees.
Think of it this way: People with short attention spans are worth slightly less in advertising dollars than they were a year ago. These are viewers conditioned to watching content that seldom goes beyond a minute. Now, what does that mean for broadcast and cable’s media dinosaurs that bank on the big ad spend for three commercials every 15 minutes? And what does it mean for streamers like Netflix and Disney+ that are preparing to launch cheaper...
Think of it this way: People with short attention spans are worth slightly less in advertising dollars than they were a year ago. These are viewers conditioned to watching content that seldom goes beyond a minute. Now, what does that mean for broadcast and cable’s media dinosaurs that bank on the big ad spend for three commercials every 15 minutes? And what does it mean for streamers like Netflix and Disney+ that are preparing to launch cheaper...
- 10/26/2022
- by Joe Bel Bruno
- The Wrap
San Francisco, Oct 21 (Ians) Snap, the parent company of Snapchat, has reported that its revenue grew 6 per cent year-over-year (YoY) to 1,128 million in the third quarter of 2022.
According to the company, revenue increased by 6 per cent to 1,128 million compared to the prior year. Net loss was 360 million, including restructuring charges of 155 million, compared to 72 million for the previous year.
“This quarter, we took action to further focus our business on our three strategic priorities: Growing our community and deepening their engagement with our products, reaccelerating and diversifying our revenue growth, and investing in augmented reality,” Evan Spiegel, CEO, said in a statement.
“The growth of our community to 363 million daily active users, an increase of 19 per cent year-over-year, continues to expand our long-term opportunity as we navigate this volatile macroeconomic environment,” Spiegel added.
Daily active users (DAUs) were 363 million in the third quarter, an increase of 57 million, or 19 per cent YoY.
According to the company, revenue increased by 6 per cent to 1,128 million compared to the prior year. Net loss was 360 million, including restructuring charges of 155 million, compared to 72 million for the previous year.
“This quarter, we took action to further focus our business on our three strategic priorities: Growing our community and deepening their engagement with our products, reaccelerating and diversifying our revenue growth, and investing in augmented reality,” Evan Spiegel, CEO, said in a statement.
“The growth of our community to 363 million daily active users, an increase of 19 per cent year-over-year, continues to expand our long-term opportunity as we navigate this volatile macroeconomic environment,” Spiegel added.
Daily active users (DAUs) were 363 million in the third quarter, an increase of 57 million, or 19 per cent YoY.
- 10/21/2022
- by Glamsham Bureau
- GlamSham
Snapchat parent Snap kicked off earnings season for social media and tech companies today on a sour note with solid user numbers but lower than expected revenue and a dim outlook for the fourth-quarter where sales are expected to be flat. That forecast spooked the Street with Snap down over 25 in late trading.
Snap is seen as a bellwether for digital advertising ahead of numbers coming next week from Facebook parent Meta, Google parent Alphabet, Amazon, Twitter and others. Those stocks also lost some ground after-hours but nothing comparable.
Snap’s daily active users, or DAUs, hit 363 million, an increase of 19 from the year before and above the 358+ million anticipated.
Net losses widened to 360 million — including restructuring charges of 155 million — from 72 million in the year-earlier quarter. Revenue up 6 at 1.128 billion was shy of forecasts. The one-time charge was due in large part to layoffs announced in August.
In a letter to shareholders,...
Snap is seen as a bellwether for digital advertising ahead of numbers coming next week from Facebook parent Meta, Google parent Alphabet, Amazon, Twitter and others. Those stocks also lost some ground after-hours but nothing comparable.
Snap’s daily active users, or DAUs, hit 363 million, an increase of 19 from the year before and above the 358+ million anticipated.
Net losses widened to 360 million — including restructuring charges of 155 million — from 72 million in the year-earlier quarter. Revenue up 6 at 1.128 billion was shy of forecasts. The one-time charge was due in large part to layoffs announced in August.
In a letter to shareholders,...
- 10/20/2022
- by Jill Goldsmith
- Deadline Film + TV
Click here to read the full article.
Snap Inc. reported 1.13 billion in revenue in the third quarter of 2022 amid a period of tumult in which it pulled its forward-looking guidance, laid off some 20 percent of its employees and completely restructured its operations.
Revenue was up 6 percent from a year prior, but essentially flat with Q2. Snap reported a net loss of 360 million, owing in part to extensive restructuring charges.
Daily active Snapchat users rose to 363 million in the quarter, up from 347 million the quarter prior, and up 19 percent year-over-year.
In August, the company announced a complete restructuring, with CEO Evan Spiegel saying that the company was planning to “increase focus on our three strategic priorities: community growth, revenue growth and augmented reality.”
Focusing on those core areas would help return the company to growth mode, Spiegel argued.
As part of that restructuring, Snap laid of about 20 percent of its employee...
Snap Inc. reported 1.13 billion in revenue in the third quarter of 2022 amid a period of tumult in which it pulled its forward-looking guidance, laid off some 20 percent of its employees and completely restructured its operations.
Revenue was up 6 percent from a year prior, but essentially flat with Q2. Snap reported a net loss of 360 million, owing in part to extensive restructuring charges.
Daily active Snapchat users rose to 363 million in the quarter, up from 347 million the quarter prior, and up 19 percent year-over-year.
In August, the company announced a complete restructuring, with CEO Evan Spiegel saying that the company was planning to “increase focus on our three strategic priorities: community growth, revenue growth and augmented reality.”
Focusing on those core areas would help return the company to growth mode, Spiegel argued.
As part of that restructuring, Snap laid of about 20 percent of its employee...
- 10/20/2022
- by Alex Weprin
- The Hollywood Reporter - Movie News
Wildly popular social media app TikTok is said to have a draft agreement in place with the U.S. government that would allow it to continue operating in the country while retaining Chinese ownership.
The deal was hashed out in recent months, according to a report in the New York Times, and resolves national security concerns that have troubled lawmakers given the platform’s ownership by Beijing-based tech giant, ByteDance. However, the agreement may take months more to finalize, the Nyt said, with a top DOJ official and the Treasury both having reservations on whether it’s tough enough on China.
In 2020, then President Trump issued an unusual executive order blocking the app unless ByteDance sold TikTok’s U.S. business to an American company. Microsoft came in early with an offer. Its bid was rejected in favor of Oracle, which signed on as a technology partner with a group of investors.
The deal was hashed out in recent months, according to a report in the New York Times, and resolves national security concerns that have troubled lawmakers given the platform’s ownership by Beijing-based tech giant, ByteDance. However, the agreement may take months more to finalize, the Nyt said, with a top DOJ official and the Treasury both having reservations on whether it’s tough enough on China.
In 2020, then President Trump issued an unusual executive order blocking the app unless ByteDance sold TikTok’s U.S. business to an American company. Microsoft came in early with an offer. Its bid was rejected in favor of Oracle, which signed on as a technology partner with a group of investors.
- 9/26/2022
- by Jill Goldsmith
- Deadline Film + TV
Snap Inc. recently announced a round of layoffs. The parent company of Snapchat is cutting back on products and programming, but it has a plan to continue supporting its user base.
With the discontinuation of Snap-funded Originals, creators who land on Snapchat’s primary hubs — such as its Discover page — will become the undisputed stars of the app. That’s good news for Eitan Bernath, a talented young chef with a strong social media following. Bernath exemplifies the modern Snapchat creator: He is spreading his content across multiple formats, from Discover shows to Stories to Spotlight, and those efforts are (literally) paying off.
Bernath’s success on Snapchat has allowed him to take his online video career to the next level. He currently runs a five-person business for which Snap is his “main source of revenue.”
So how’d he pull that off?
Bernath has been in the public...
With the discontinuation of Snap-funded Originals, creators who land on Snapchat’s primary hubs — such as its Discover page — will become the undisputed stars of the app. That’s good news for Eitan Bernath, a talented young chef with a strong social media following. Bernath exemplifies the modern Snapchat creator: He is spreading his content across multiple formats, from Discover shows to Stories to Spotlight, and those efforts are (literally) paying off.
Bernath’s success on Snapchat has allowed him to take his online video career to the next level. He currently runs a five-person business for which Snap is his “main source of revenue.”
So how’d he pull that off?
Bernath has been in the public...
- 9/14/2022
- by Sam Gutelle
- Tubefilter.com
In April 2021, Patreon raised a 155 million funding round that came with a 4 billion valuation attached to it. The fan-funding platform had gained a wave of new users during the pandemic and was planning a move into original content. Business seemed to be booming at the company founded by musician and YouTuber Jack Conte.
19 months later, Patreon is reversing course. On Instagram, Conte announced a round of layoffs that will affect 80 Patreon employees and reduce the company’s workforce by 17. The post cited the ongoing “economic slowdown” as the catalyst for the cutbacks. Snap CEO Evan Spiegel cited a similar rationale when he announced the most recent round of layoffs at his company.
“It has become clear that the original plan we built for the year, to support outsized growth through the pandemic, is no longer the right plan for the company,” Conte wrote. As Patreon downsizes, it will close offices in Berlin and Dublin,...
19 months later, Patreon is reversing course. On Instagram, Conte announced a round of layoffs that will affect 80 Patreon employees and reduce the company’s workforce by 17. The post cited the ongoing “economic slowdown” as the catalyst for the cutbacks. Snap CEO Evan Spiegel cited a similar rationale when he announced the most recent round of layoffs at his company.
“It has become clear that the original plan we built for the year, to support outsized growth through the pandemic, is no longer the right plan for the company,” Conte wrote. As Patreon downsizes, it will close offices in Berlin and Dublin,...
- 9/14/2022
- by Sam Gutelle
- Tubefilter.com
Model Miranda Kerr wearing Rahaminov Diamonds jewelry at the 6th Annual InStyle Awards. Pic credit: ©ImageCollect.com/Xavier Collin/ImagePressAgency
Miranda Kerr puts her slender and toned physique in skintight spandex as she heats up in a sauna.
The stunning model hasn’t aged a day since she hit the runway for the trendiest fashion brands in the early 2000s.
The 39-year-old model and skincare founder has been busy expanding her business empire.
Her brand, Kora Organics, has recently expanded to body products after earning numerous awards for its facial serums.
As the name suggests, the products are organic and she has spilled the secrets of her youthful appearance while promoting the brand.
Kerr was previously married to Orlando Bloom and they had their first child together. She is now married to Snapchat billionaire CEO Evan Spiegel and the pair share two children.
Miranda Kerr sweats in tight spandex after...
Miranda Kerr puts her slender and toned physique in skintight spandex as she heats up in a sauna.
The stunning model hasn’t aged a day since she hit the runway for the trendiest fashion brands in the early 2000s.
The 39-year-old model and skincare founder has been busy expanding her business empire.
Her brand, Kora Organics, has recently expanded to body products after earning numerous awards for its facial serums.
As the name suggests, the products are organic and she has spilled the secrets of her youthful appearance while promoting the brand.
Kerr was previously married to Orlando Bloom and they had their first child together. She is now married to Snapchat billionaire CEO Evan Spiegel and the pair share two children.
Miranda Kerr sweats in tight spandex after...
- 9/11/2022
- by Frank Yemi
- Monsters and Critics
Barely a week after announcing massive layoffs and initiating a significant restructuring of the company, Snap Inc. CEO Evan Spiegel said the social media firm is committed to staying independent and resisting any takeover offers.
“When I look at the long-term opportunity in our business, I really believe it’s enormous. I believe we’re far from reaching our full potential,” the co-founder of Snapchat’s parent company said during a 30-minute appearance at the Code Conference in LA. “Over time, the stock price has gone up and down, but we’ve tried to stay focused on delivering real value for shareholders. Since our IPO [in 2017], I think we’ve grown revenue 10x. … We’ve doubled the size of the community. We believe those things are really important.”
Snap announced the elimination of 20 of its workforce last week, along with a range of drastic cost-cutting measures. After a poor quarterly financial report,...
“When I look at the long-term opportunity in our business, I really believe it’s enormous. I believe we’re far from reaching our full potential,” the co-founder of Snapchat’s parent company said during a 30-minute appearance at the Code Conference in LA. “Over time, the stock price has gone up and down, but we’ve tried to stay focused on delivering real value for shareholders. Since our IPO [in 2017], I think we’ve grown revenue 10x. … We’ve doubled the size of the community. We believe those things are really important.”
Snap announced the elimination of 20 of its workforce last week, along with a range of drastic cost-cutting measures. After a poor quarterly financial report,...
- 9/8/2022
- by Dade Hayes
- Deadline Film + TV
Snap announced today that it laid off 20 percent of its staff in a restructure intended to cut costs and save the Snapchat parent’s plunging stock price. Beyond the headcount reduction of about 1,280 employees, one of the key casualties here are Snap-funded originals. Snap will no longer invest in new original programming, although the ones announced in May will still air as planned starting this fall.
What are/were Snap Originals? Developed with and paid for by Snapchat but produced by third-party production companies, there are more than 150 of them, including “Addison Rae Goes Home” starring influencer Addison Rae, Meme Mom” starring influencer NicoleTV, and “Coming Out,” in which LGBTQ+ influencer Manny Mua hosts a show that reflects the coming out journey for six young people. It also featured shows hosted by pro basketball player Stephen Curry and Olympic gymnast Simone Biles.
Shot in vertical orientation and made for swift consumption,...
What are/were Snap Originals? Developed with and paid for by Snapchat but produced by third-party production companies, there are more than 150 of them, including “Addison Rae Goes Home” starring influencer Addison Rae, Meme Mom” starring influencer NicoleTV, and “Coming Out,” in which LGBTQ+ influencer Manny Mua hosts a show that reflects the coming out journey for six young people. It also featured shows hosted by pro basketball player Stephen Curry and Olympic gymnast Simone Biles.
Shot in vertical orientation and made for swift consumption,...
- 8/31/2022
- by Tony Maglio
- Indiewire
New Delhi, Aug 31 (Ians) Snap CEO Evan Spiegel on Tuesday confirmed that the company is laying off 20 per cent of its workforce, roughly 1,280 employees from 6,400-strong headcount, as the company “must face the consequences of lower revenue growth and adapt to the market environment”.
In a letter to employees, he said that the scale of these lay offs vary from team to team, depending upon the level of prioritisation and investment needed to execute against the company’s strategic priorities.
“The extent of this reduction should substantially reduce the risk of ever having to do this again, while balancing our desire to invest in our long term future and reaccelerate our revenue growth. Overall, the size of our team will remain larger than it was at this time last year,” Spiegel said.
Snap’s stock has tanked nearly 80 per cent since the beginning of this year.
The job cuts at...
In a letter to employees, he said that the scale of these lay offs vary from team to team, depending upon the level of prioritisation and investment needed to execute against the company’s strategic priorities.
“The extent of this reduction should substantially reduce the risk of ever having to do this again, while balancing our desire to invest in our long term future and reaccelerate our revenue growth. Overall, the size of our team will remain larger than it was at this time last year,” Spiegel said.
Snap’s stock has tanked nearly 80 per cent since the beginning of this year.
The job cuts at...
- 8/31/2022
- by Glamsham Bureau
- GlamSham
Big changes are coming to Snap, Inc.
The company behind Snapchat will lay off about a fifth of its workforce as it dramatically restructures its business. As part of that plan, the platform will move away from Snap-funded original programming and will sunset several tech products and standalone apps.
Evan Spiegel, Snap’s co-founder and CEO, delivered the news via a memo that was sent to the Snap team and posted on the company’s official blog. Spiegel said that “low revenue growth” has forced Snap to reexamine how it will allocate its resources in the coming years.
“The investments we have made in our business to-date assumed a higher rate of revenue growth based on our vast opportunity and our proven history of execution, including 2x growth in the size of the Snapchat community and 10x growth in trailing twelve month revenue since our IPO in 2017,” Spiegel wrote.
The company behind Snapchat will lay off about a fifth of its workforce as it dramatically restructures its business. As part of that plan, the platform will move away from Snap-funded original programming and will sunset several tech products and standalone apps.
Evan Spiegel, Snap’s co-founder and CEO, delivered the news via a memo that was sent to the Snap team and posted on the company’s official blog. Spiegel said that “low revenue growth” has forced Snap to reexamine how it will allocate its resources in the coming years.
“The investments we have made in our business to-date assumed a higher rate of revenue growth based on our vast opportunity and our proven history of execution, including 2x growth in the size of the Snapchat community and 10x growth in trailing twelve month revenue since our IPO in 2017,” Spiegel wrote.
- 8/31/2022
- by Sam Gutelle
- Tubefilter.com
Reeling from an advertising slowdown and a grim economic environment, Snapchat parent Snap Inc. is laying off about 1,600 workers, or about 20 of its workforce.
The dramatic cuts follow a series of grim financial reports, which sent the company’s shares plunging in recent months. Snap stock bounced up as much as 15 on the layoff news in early trading, reaching 11.55.
Among the business areas the company will be pulling back from amid the cutbacks is company-funded original content. Snap will instead turn its focus to content from partners and creators. It will also shift its “minis” and games efforts into “maintenance mode,” representing a “substantially reduced investment.” It is also ditching a flying drone camera, Pixy, and trim other hardware investments, as well as winding down stand-along apps Zenly and Voisey.
The company estimates a 500 million reduction in its annualized cash cost structure as a result of the cuts. In a memo to employees,...
The dramatic cuts follow a series of grim financial reports, which sent the company’s shares plunging in recent months. Snap stock bounced up as much as 15 on the layoff news in early trading, reaching 11.55.
Among the business areas the company will be pulling back from amid the cutbacks is company-funded original content. Snap will instead turn its focus to content from partners and creators. It will also shift its “minis” and games efforts into “maintenance mode,” representing a “substantially reduced investment.” It is also ditching a flying drone camera, Pixy, and trim other hardware investments, as well as winding down stand-along apps Zenly and Voisey.
The company estimates a 500 million reduction in its annualized cash cost structure as a result of the cuts. In a memo to employees,...
- 8/31/2022
- by Dade Hayes
- Deadline Film + TV
Click here to read the full article.
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 level of prioritization and investment needed to execute against our strategic priorities,” Spiegel wrote. “The extent of this reduction should substantially reduce the risk of ever having to do this again, while balancing our desire to invest in our long term future and reaccelerate our revenue growth.”
Employees impacted by the cuts will receive at least 4 months of severance, with the company telling shareholders it expects to take as much as 175 million in contract termination and impairment costs.
Spiegel also outlined a complete restructuring of the company, which will see it...
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 level of prioritization and investment needed to execute against our strategic priorities,” Spiegel wrote. “The extent of this reduction should substantially reduce the risk of ever having to do this again, while balancing our desire to invest in our long term future and reaccelerate our revenue growth.”
Employees impacted by the cuts will receive at least 4 months of severance, with the company telling shareholders it expects to take as much as 175 million in contract termination and impairment costs.
Spiegel also outlined a complete restructuring of the company, which will see it...
- 8/31/2022
- by J. Clara Chan and Alex Weprin
- The Hollywood Reporter - Movie News
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