Coronavirus Updates: Jam City's GoFundMe Push; Comcast/NBCUni Struggles on Earnings

Coronavirus Updates: Jam City's GoFundMe Push; Comcast/NBCUni Struggles on Earnings

Here are the latest headlines regarding how the novel coronavirus is impacting the Los Angeles startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for the latest updates.

  • Jam City launches GoFundMe initiative to help employees impacted by COVID-19
  • Comcast's stock slides on troubles linked to COVID-19, but can Peacock save the day?

    Jam City launches GoFundMe initiative to help employees impacted by COVID-19

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    Jam City, the mobile gaming force behind World War Dohand Harry Potter: Hogwarts Mystery, is on a new mission to help employees that have been hard hit by the fallout from the COVID-19 pandemic. The Culver City-based company launched the Stronger Together Employee Program (STEP) as a way staff donate to a GoFundMe account to help co-workers that are struggling financially. Jam City started the program with a large corporate donation to the fund by putting $10,000 into the fund, and pledges to match every donation after that — dollar-for-dollar — for up to $50,000. So far, the GoFundMe initiative has raised about $26,000, out of a $25,000 goal.

    "Jam City has always been very proud to have a company culture rooted in compassion and kindness. We are fortunate to be in an industry and at a company that is continuing to do well, but we also realize this may not be the case across other industries, and our employees have family members that are experiencing hardships," said Rob Zakari, Jam City's executive vice president of corporate development and general counsel. "To help, Jam City created a fund for those employees whose families have been impacted, which will help them receive essential items."

    The company, which also includes the 2018 acquisition of Bogota, Colombia-based mobile game developer Brainz, has 700 employees based in nine studios across five countries including Burbank, San Diego, San Francisco, Berlin, Buenos Aires and Toronto. The company said it has not laid off or furloughed employees since the pandemic struck. Any of the funds not used to help employees will be donated to local charities in support of coronavirus relief efforts.

    Comcast's stock slides on troubles linked to COVID-19, but can Peacock save the day?

    NBCUniversal

    Comcast Corp. -- the media behemoth that controls NBC, Universal Pictures, and countless other properties -- had some good news on their first-quarter earnings call. The cable and broadband segment of the company added 477,000 new subscribers during the period, most of it coming as Americans clamor for Internet service in an era of being stuck at home and hungry for content. The surge came during the last three weeks of the quarter, and represented a 27 percent year-over-year increase. But that may be a temporary bump.

    Wall Street remained worried, and punished the stock with an 8 percent slide in midday trading after the company reported both profit and revenue were down during the quarter. And its second-quarter projections were generally weak. The problems: Universal Pictures will have a tough time getting movies into theaters if cinemas aren't open and the Universal Studios theme parks are shuttered in the U.S. and Japan. The company called out that the current environment is a "difficult comparison" to the previous year's relative success and "theater and entertainment venue closures as a result of COVID-19."

    The company said broadcast TV was up, "reflecting increases in content licensing revenue and distribution and other revenue." And NBCU CEO Jeff Shell noted that early signs of Peacock, the new streaming service recently rolled out to a subset of Comcast customers, are "very, very encouraging, particularly the amount of time each person is spending watching." Comcast CEO Brian Roberts noted that Peacock has exceeded internal projections of both view time and monthly active users, but did not provide numbers.

    And in the wake of a prominent mid-week spat with AMC theaters over his comments about future film release strategy, Shell seemed to backtrack a tad by emphasizing that theater releases will remain a "central element" of NBCU's studio business.

    Fuel Innovation: 7 Unforgettable Team Building Experiences in LA
    Image Source: Discover LA

    In today's competitive business landscape, team building activities have emerged as a crucial tool for fostering a positive work environment, enhancing productivity, and crucially, improving employee retention. Studies have shown that such activities help employees feel valued, with one report indicating that 93% of those who felt appreciated were more motivated at work. Importantly, team building events may improve retention rates, as employees who feel connected to their colleagues and company culture are more likely to stay long-term. With these benefits in mind, let's explore some of the most engaging and effective team building activities available in Los Angeles.

    Pickleball

    Image Source: Modern Luxury Angelino

    Pickleball is a fantastic team bonding activity because of the easy-to-grasp rules and gentle pace make it perfect for everyone, regardless of age or fitness level. The game thrives on communication and teamwork, as players must collaborate and strategize to outplay their opponents, boosting team cohesion. Plus, the lively, fast-paced action sparks friendly competition and laughter, creating a fun and spirited atmosphere that brings everyone closer together. Los Angeles boasts numerous pickleball courts that are easy to rent if you have your own equipment. If you need additional assistance organizing your pickleball outing, there are plenty of full-service companies ready to handle every detail for you.

    Resources: Pickle Pop, Corporate Pickle


    Escape Room

    Image Source: The Escape Game

    Escape rooms are a great way to build camaraderie. They require participants to work together, combining their problem-solving skills and creativity to overcome challenges and puzzles. The immersive and time-sensitive nature of escape rooms fosters collaboration and communication. Additionally, the shared experience of tackling complex tasks and reaching a common goal helps build trust and foster positive emotions among colleagues.

    Resources: The Escape Game, 60Out


    Day Trip to Catalina Island

    Image Source: Love Catalina

    Catalina Island is a perfect day trip for a team because it provides a break from the usual work environment, allowing team members to relax and connect in a new setting. Shared experiences during the trip, such as exploring new places and participating in fun activities, help build stronger relationships and foster a sense of camaraderie. There are numerous team-building activities such as an arboreal obstacle course, an island tour, scavenger hunts and more.

    Resources: Catalina Island Group Activities


    Top Golf

    Image Source: Topgolf

    Topgolf is an excellent team building event because it provides an inclusive, relaxed atmosphere that accommodates players of all skill levels, fostering personal connections and improving team morale. The unique blend of competition and entertainment creates an ideal setting for building trust, enhancing communication, and revealing hidden skills among team members. Additionally, Topgolf offers structured team building packages with guided activities, discussion prompts, and lessons on culture, change, collaboration, and strategy, making it a versatile and effective platform for strengthening relationships and boosting overall team performance.

    Resources: Topgolf El Segundo


    SoFi Stadium Tour

    Image Source: Discover LA

    A SoFi Stadium tour offers a unique, behind-the-scenes experience of one of the world's most advanced sports venues, allowing team members to explore exclusive areas like premium suites, team locker rooms, and the player tunnel together. The tour provides a shared, memorable experience that can foster camaraderie and spark conversations among team members, regardless of their interest in sports. Additionally, the stadium's state-of-the-art features and impressive architecture can inspire creativity and innovation, while the group setting encourages interaction and collaboration, making it an engaging and enjoyable activity for teams of various sizes and backgrounds

    Resources: SoFi Stadium Group Tours


    Corporate Volunteering

    Image Source: L.A. Works

    Volunteer work serves as an excellent team building activity by uniting employees around a shared, meaningful cause, fostering a sense of purpose and collective accomplishment. It provides opportunities for team members to collaborate in new ways, often revealing hidden strengths and leadership qualities that may not be apparent in the regular work environment. Additionally, engaging in community service can boost morale, enhance the company's reputation, and instill a sense of pride among employees, leading to improved workplace relationships and increased job satisfaction.

    Resources: Habitat for Humanity, L.A. Works, VolunteerMatch


    Corporate Improv Sessions

    Image Source: Improv for the People

    A corporate improv class encourages spontaneity, creativity, and quick thinking, skills that are valuable in the workplace. It promotes active listening and collaboration, as participants must work together to create scenes and respond to unexpected situations, fostering better communication and trust among team members. Additionally, the playful and often humorous nature of improv helps break down barriers, reduces stress, and creates a shared positive experience that can improve team morale and cohesion long after the event.

    Resources: Improv-LA, Groundlings, Improv for the People

    🎬 Paramount and Skydance Are Back On
    Image Source: Paramount

    Happy Friday Los Angeles! Hope you all had a fantastic Fourth!!

    🔦 Spotlight

    Paramount and Skydance Media have rekindled talks to merge after negotiations abruptly halted in June. The proposed deal, contingent on approval from Paramount’s board, aims to combine Paramount’s extensive media holdings—including CBS, MTV, and Nickelodeon—with Skydance’s film expertise showcased in hits like "Top Gun: Maverick." This merger signals a potential transformation in the media landscape, positioning the new entity to compete more effectively amid challenges from streaming services and the decline of traditional cable TV.

    Led by Shari Redstone, Paramount’s controlling shareholder via National Amusements, the deal represents a pivot towards revitalizing Paramount’s strategic direction amidst financial struggles and shareholder concerns. The involvement of major investors like RedBird Capital Partners and David Ellison underscores the financial backing aimed at stabilizing Paramount’s operations and addressing its $14 billion debt burden. Importantly, the agreement includes provisions to protect National Amusements from potential legal challenges, addressing previous hurdles that stalled earlier negotiations.

    The deal also includes a 45-day period for Paramount to explore alternative offers, highlighting continued interest from other potential buyers like Barry Diller’s IAC and media executive Edgar Bronfman Jr. This flurry of activity underscores the significant stakeholders’ interest in Paramount’s future and its potential as a key player in a rapidly evolving media industry.


    🤝 Venture Deals

    LA Companies

    • Sidecar Health, a startup that offers personalized health insurance plans to businesses that allow members to see any doctor and pay directly at the time of service, raised a $165M Series D led by Koch Disruptive Technologies. - learn more

    LA Venture Funds


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