LA Tech Updates: Disney Earnings Include Big Mulan News; Microsoft Backs Irvine Chipmaker

Leslie Ignacio

Leslie Ignacio is dot.LA's editorial intern. She is a recent California State University, Northridge graduate and previously worked for El Nuevo Sol, Telemundo and NBC and was named a Chips Quinn Scholar in 2019. As a bilingual journalist, she focuses on covering diversity in news. She's a Los Angeles native who enjoys trips to Disneyland in her free time.

LA Tech Updates: Disney Earnings Include Big Mulan News; Microsoft Backs Irvine Chipmaker

Here are the latest updates on news affecting Los Angeles' startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for more.

Today:

  • Disney Plus Surpasses 60 Million Subscribers
  • Rocket Lab Boosts Payload Capacity
  • Microsoft Backs Maker of Voice-Activated Chip, Syntiant, in $35M Round

          Disney Plus Surpasses 60 Million Subscribers

          black smartphonePhoto by Kon Karampelas on Unsplash

          Disney's earnings report Tuesday quantified the damage wrought by COVID-19 in the company's third quarter — which was entirely enveloped by the pandemic.

          Each of Disney's four business segments suffered losses except for its direct-to-consumer and international operations, which includes the company's streaming app, Disney Plus.

          The company also released new details about its release plans for the blockbuster live-action film, Mulan.

          First, the revenue figures by segment, compared to 2019's corresponding quarter:

          • Media Networks fell 2% to $6.6 billion
          • Parks, Experiences and Products tumbled 85% to $2 billion
          • Studio Entertainment dropped 55% to $1.7 billion
          • Direct-to-Consumer and International climbed 2% to $4 billion

          Disney Plus now has over 60 million subscribers, the company reported, a milestone Disney had previously announced it hoped to surpass by 2024. Add in ESPN+ and Hulu, and the company's total subscriber count now tops 100 million. Disney chief executive Bob Chapek said these numbers give the company confidence to "pursue even more innovative and bold initiatives as we grow our business."

          The day's headline-grabber: Disney will release Mulan on Disney Plus in most markets where the service is available, including the U.S., rather than premiere it on the big screen. That's a big shock to the movie industry, where the theatrical release window usually gives movie theaters an exclusive several-months period to show films before they reach home viewers. Mulan, which was originally meant to hit theaters in March, is perhaps the highest-profile and biggest-budget film to be released direct-to-consumer. It will be available on September 4th for a price of $29.99.

          Chapek called the decision a "one-off event" rather than a new way of doing business. It was the first call of Chapek's without his predecessor Bob Iger on the line.

          Rocket Lab Improves Payload Capacity

          Rocket Lab increased the payload capacity for its Electron launch vehicle to 600 pounds, far above the 225 kg it could support when the Electron launch vehicle first appeared in 2017.

          "When we created Electron, we set out to develop a launch vehicle that small satellite operators would turn to when they needed a dedicated ride to a unique orbit on their schedule," founder and CEO Peter Beck said in a statement.

          "We're proud to be delivering that capability and continuing to evolve our launch and satellite services to meet the market's ever-changing needs."

          The company attributes the improvement to advanced battery technology.

          The Long Beach-based lab is known for its 3-D printed and electric pump engines, known as Rutherford Engines, which company says are 90% more efficient than traditional gas pump engines. Their printing time: 24 hours.

          Rocket Lab is set to launch again later this month.

          Microsoft Backs Maker of Voice-Activated Chip, Syntiant, in $35M Round

          Microsoft's venture fund M12 led a $35 million investment round in Irvine-based Syntiant, a semiconductor-making company that's produced tiny voice recognition chips — smaller than a flea — that are faster than many others on the market.

          The company, which is also backed by Amazon's Alexa Fund, makes an "always-on voice interface" that reacts to speech. It has already shipped out a million of the units which are put into cellphones, smart speakers, earbuds and laptops.

          The venture capital arm of chip maker Applied Materials, Inc. also joined in the lead for the Series C round, along with Atlantic Bridge Capital, Alpha Edison and Miramar Digital Ventures also joined the round. The company has raised a total of $65 million since it was founded by four veterans of the chip industry.

          "It is a tremendous honor to know that some of the world's leading tech investors are supporting our growth stage, as we deliver our deep learning voice solution to customers across the globe," said Kurt Busch, co-founder and CEO of Syntiant. "We are especially thrilled that production volumes of applications using our neural decision processors are increasing and expect orders to ramp even higher throughout the remainder of 2020.

          It's estimated that the speech and voice recognition market is expected to reach $26.8 billion by 2025, according to report by Meticulous Research.

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          A New Tide of LA Startups Is Tackling the National Childcare Crisis

          Keerthi Vedantam

          Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

          A New Tide of LA Startups Is Tackling the National Childcare Crisis
          Courtesy of Brella

          The pandemic exacerbated a problem that has been long bubbling in the U.S.: the childcare crisis.

          According to a survey of people in science, technology, engineering and mathematics (STEM) careers conducted by the city’s WiSTEM Los Angeles program and shared exclusively with dot.LA, the pandemic exposed a slew of challenges across STEM fields. The survey—which consisted of 181 respondents from L.A.County and was conducted between March 2021 and 2022— involved respondents across medical fields, technical professions and science industries who shared the pandemic’s effects on their professional or education careers.

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          MaC Venture Capital Raises $203M for Its Second Fund

          Decerry Donato

          Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

          MaC Venture Capital Raises $203M for Its Second Fund
          Courtesy of MaC Venture Capital

          While venture capital funding has taken a hit this year, that hasn’t stopped MaC Venture Capital from raising $203 million for its second fund.

          The Los Angeles-based, Black-led VC firm said Monday that it had surpassed its initial $200 million goal for the fund, which dot.LA reported in January, over the span of seven months. MaC said it expects to invest the capital in up to 50 mostly seed-stage startups while remaining “sector-agnostic.”

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