LA Tech Updates: Peacock Hits 10 Million Users; TikTok's $2 Billion Creator Fund Goes After Instagram, Youtube

Francesca Billington

Francesca Billington is a freelance reporter. Prior to that, she was a general assignment reporter for dot.LA and has also reported for KCRW, the Santa Monica Daily Press and local publications in New Jersey. She graduated from Princeton in 2019 with a degree in anthropology.

LA Tech Updates: Peacock Hits 10 Million Users; TikTok's $2 Billion Creator Fund Goes After Instagram, Youtube

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Today:

  • Peacock Hits 10 Million Users
  • TikTok Promises $2 Billion for Creators Over 3 Years as Rivalry with Facebook Heats Up

        Peacock hits 10 million users 

        Peacock Will Be Available on Google and Android Devices in JulyNBCUniversal

        NBCUniversal's new streaming service Peacock has hit 10 million users three months after its debut. The figure represents both new members who joined since July 15 when it launched for the general public and users who signed up in April when the platform opened exclusively to Comcast play TV customers.

        NBCUniversal is the latest to join the so-called streaming wars. Unlike some competitors, Peacock offers a free tier subscription for members to watch most content with ads. Last week, it rolled out a "Roll to Tokyo" channel dedicated to the 2021 Summer Olympics as one way to attract subscribers.

        Comcast Corp. reported the figures on Thursday during their second quarter earnings and it was a bright spot for the company.

        "Across the board, we're better than expectations," NBCUniversal CEO Jeff Shell told investors during their call. "We didn't expect this many sign-ups, we didn't expect people to come back as frequently as they're coming back and we didn't expect people to watch as long as they're watching once they come back."

        Executives have said their goal is to gain 30 million to 35 million users and $2.5 billion in revenue by 2024.

        TikTok Promises $2 Billion for Creators Over 3 Years as Rivalry with Facebook Heats Up

        TikTok announced it'll pay creators almost $2 billion over the next three years to support their careers online, a move that marks territory as rival Instagram's prepares to join the space with its service Reels.

        The Culver City-based company launched the TikTok Creator Fund last week to "encourage those who dream of using their voices and creativity to spark inspiration careers," TikTok General Manager Vanessa Pappas wrote in a blog post.

        The fund, which was originally set at $200 million before Thursday's update, will start accepting applications from U.S. creators in August.

        It's a signal that CEO Kevin Mayer has ratcheted up their efforts to take on competitors like YouTube and Instagram. On Wednesday he called Reels by Instagram, a Facebook owned company, a "copycat product."


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        LA Tech ‘Moves’: Mapp Gains New CPO and CTO, Prodoscore Taps Boeing Exec

        Decerry Donato

        Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow 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.

        LA Tech ‘Moves’: Mapp Gains New CPO and CTO, Prodoscore Taps Boeing Exec
        LA Tech ‘Moves’:

        “Moves,” our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

        ***

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        This Week in ‘Raises’: GITAI Lands $30M, Steno Gains $15M

        Decerry Donato

        Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow 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.

        Raises
        Image by Joshua Letona

        A local space robotics startup raised fresh funding to expand the flight model manufacturing facilities throughout the U.S. and increase employment, while a remote litigation platform raised more funding to continue growing its footprint in new markets across the country, develop service channels for its clients and continue expanding its tech team.

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        Gitai Raises $30 Million to Expand Manufacturing Footprint in Los Angeles

        Samson Amore

        Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

        Gitai Raises $30 Million to Expand Manufacturing Footprint in Los Angeles
        \u200bPhoto: Gitai

        Space robotics company Gitai raised a $30 million Series B extension this week, bringing the total value of the round to roughly $47 million.

        The funding will be used to further develop Gitai’s suite of space robots as well as build out its manufacturing footprint in Torrance. Previously Gitai announced it raised a $17.1 million Series B in March 2021; this additional raise is still part of that round.

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