LA Tech Updates: Disney Earnings Include Big Mulan News; Microsoft Backs Irvine Chipmaker
Aug 04 2020
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
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Disney Plus Surpasses 60 Million Subscribers
<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzUzNDk4NS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY0NTY1OTM2NX0.fjV1GsNR7y3nIaXWAixTIZYF_e7Y1BAC4bed1V7yx5I/image.jpg?width=980" id="9e659" class="rm-shortcode" data-rm-shortcode-id="a41ec51e660a63473c0880ce0330e028" data-rm-shortcode-name="rebelmouse-image" />black smartphonePhoto by Kon Karampelas on Unsplash<p>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. </p><p>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.</p><p>The company also released new details about its release plans for the blockbuster live-action film, <em>Mulan</em>. </p><p>First, the revenue figures by segment, compared to 2019's corresponding quarter: </p><ul><li>Media Networks fell 2% to $6.6 billion</li><li>Parks, Experiences and Products tumbled 85% to $2 billion</li><li>Studio Entertainment dropped 55% to $1.7 billion</li><li>Direct-to-Consumer and International climbed 2% to $4 billion </li></ul><p>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." </p><p>The day's headline-grabber: Disney will release <em>Mulan </em>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. <em>Mulan</em>, 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. </p><p>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.</p>Rocket Lab Improves Payload Capacity
<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzUzNTAyNy9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY2MjE4MjM4OH0.wPvdEk4h-5qAomCavrO9QFfsCKZU1WpReCNufhhT8AA/image.jpg?width=980" id="98c90" class="rm-shortcode" data-rm-shortcode-id="b2a0f707d2f85b15f0c5628e76db2aeb" data-rm-shortcode-name="rebelmouse-image" /><p>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.</p><p>"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.</p><p>"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."</p><p>The company attributes the improvement to advanced battery technology.</p><p>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.</p><p>Rocket Lab is set to launch again later this month.</p>Microsoft Backs Maker of Voice-Activated Chip, Syntiant, in $35M Round
<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzUzNDk2MC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY1MjgyODk5N30.77xs4oSGU23C9wndb7xm6Hd4S-WFd4wL8aBuA9Q9-8c/image.jpg?width=2000&coordinates=0%2C38%2C0%2C38&height=1500" id="55d4f" class="rm-shortcode" data-rm-shortcode-id="cb00d72a37e756fb95f60912f2272c1a" data-rm-shortcode-name="rebelmouse-image" /><p>Microsoft's venture fund M12 led a $35 million investment round in Irvine-based <a href="http://www.syntiant.com/" target="_blank">Syntiant</a>, a semiconductor-making company that's produced tiny voice recognition chips — smaller than a flea — that are faster than many others on the market.</p><p>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. </p><p>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. </p><p>"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.<br></p><p>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.</p>From Your Site Articles
- Disney Loses $1.4 Billion in Operating Income Due To COVID-19 ... ›
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ABL Space Systems, a startup building low-cost launch vehicles for small satellites, announced that it raised over $90 million and plans to launch its first orbital mission by the first quarter of next year.
The El Segundo-based company secured $44.5 million in Air Force contracts and another $49 million in private funds led by Ethan Batraski at Venrock with participation from New Science Ventures, Lynett Capital, and Lockheed Martin Ventures.
<p>Their launch vehicle, the RS1 aims to carry up to 1,350 kg into low Earth orbit — around 200 kilometer above the Earth. Early testing has been successful with the vehicle's performance hitting all its targets, the company said. </p><p>"We've completed hundreds of engine, stage, and ground system tests across multiple deployments to unimproved sites. All were performed on generator power with fully self-sufficient systems," said Dan Piemont, ABL founder and CFO. </p><p>The company's GSO system, which it uses to launch the RS1, is marketed as an easy way to launch satellites on-demand. That system employs shipping containers and a concrete pad to set up a launch. The simple infrastructure cuts down on the need for the large teams employed by traditional satellite companies. </p><p>ABL is among a number of U.S. rocket builders like Long Beach-based Rocket Lab and Hawthorne-based SpaceX that are competing in the growing small satellite market.</p><p class="shortcode-media shortcode-media-rebelmouse-image">
<img type="lazy-image" data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzUzMTQ2My9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYzODk3NjYxM30.71rwtDiSzk6bu4Y0g4BH5Hj7PEn0BxYLZVrT7-MS_kU/image.jpg?width=980" id="a7ade" class="rm-shortcode" data-rm-shortcode-id="f61a5264ebc27ea1d9f1a2cc56c1d145" data-rm-shortcode-name="rebelmouse-image" />
</p><p>As the company ramps up toward their launch, it has expanded its footprint leasing additional propulsion test facilities at Mojave Air and Space Port and moved its operations into a 60,000 square foot production facility in El Segundo.<br/></p><p>The RS1 satellite launch vehicle team, now made up of 80 engineers, designers and production experts. </p><p>The price tag for a launch is $12 million. </p><p>ABL founder and Chief Financial Officer Dan Piemont said these "large capacity, fit-for-purpose resilient launch system" offer commercial and government customers "value." </p><p>The company shut down during the first month of the pandemic slowing down production and testing, but it resumed operations shortly after.</p>
From Your Site Articles
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Space City – Long Beach?
The oceanside city, known by tourists as the home of the Queen Mary, scored another win as it competes with Houston and Cape Canaveral as a hub for the new privately-led space race. Relativity Space, a five-year-old rocket maker, is opening a new 120,000 square foot manufacturing facility in Long Beach that bolsters the city's economic ambitions.
Relativity joins Virgin Orbit, Google-backed SpinLaunch, and others that established headquarters in Long Beach. Relativity's Friday announcement that its relocating from Los Angeles is another step in reviving the city's reputation as an aerospace hub.
<p>"We were in danger of losing the backbone of the aerospace economy," said Long Beach Economic Development Director John Keisler about the region once dominated by names like Boeing, McDonnell Douglas and Northrop Grumman. Now, he believes there's "really crazy stuff that's going on here."</p><p>Indeed, Relativity's mission is to revolutionize spaceflight by building the world's first 3D-printed rocket. CEO and co-Founder Tim Ellis, an alum of the Jeff Bezos-led space company Blue Origin, wants to eventually automate rocket-making on Mars. He's "confident our autonomous factory will become the future technology stack for the entire aerospace industry."</p><p>His company joins a host of others that have set up beachheads in the city. This is part of a years-long push by Long Beach, 23 miles from downtown Los Angeles, to reshape itself after the 2015 closing of Boeing's massive C-17 plant. The last commercial airplane in Southern California was made in the plant — and, when it shuttered, pundits and economists declared the end of an era.</p><p class="shortcode-media shortcode-media-rebelmouse-proxy-image">
<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vbWVkaWEucmJsLm1zL2ltYWdlP3U9JTJGMjAwNiUyRk1hciUyRjIzJTJGMjAwMDU2NDg3MCUyRjc4MCUyRjc4MCUyRjAlMkYwNjAzMTctRi05OTk5Qy0xNzkuSlBHJmhvPWh0dHBzJTNBJTJGJTJGbWVkaWEuZGVmZW5zZS5nb3Ymcz0xMDExJmg9M2RhMGE2MWY0OTE3YThlYzljM2YxMmY4YjY2MTdhODU3MzE4NWNjNzZiNmYyN2NhZjE0ZmM2YmEwZjljNjZkZSZzaXplPTk4MHgmYz00MTcxMDkyNjk1IiwiZXhwaXJlc19hdCI6MTY1NDIxMDE1M30.U9g2Fz0PVuSa37mzg_ab8GZ9USg0TvvuUc9rEPq84zg/img.jpg" id="bbc78" class="rm-shortcode" data-rm-shortcode-id="163cf04222a926eb41bbf2de57004386" />
<small class="image-media media-caption" placeholder="Add Photo Caption...">Long Beach's Boeing plant, closed in 2015, generated $7.5 billion worth of supply chain orders in California.</small><small class="image-media media-photo-credit" placeholder="Add Photo Credit...">
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</p><p>The Boeing plant generated $7.5 billion worth of supply chain orders in California. When they left, there was a massive gap in the local aerospace industry. The city was given a $3.9 million economic transition grant from the U.S. Department of Defense to help incentivize new growth.<br/></p><p>The five-year-old grant appears to be paying off in transitioning Long Beach into a high-tech hub. The city helped universities keep alive programs that fed into the industry and make sure suppliers didn't disappear. Now, Long Beach has become a haven for startups vying for a piece of the multi-billon-dollar space industry.</p><p>Rocket Lab announced in January that the satellite launcher will move headquarters to Long Beach from Huntington Beach. The company, which has a New Zealand subsidiary, said it will bring "Mission Control Center capabilities" to the city. Mayor Robert Garcia said at the time the expansion of Rocket Lab will help "a city with an aerospace history as rich as ours support new jobs and economic growth."</p><p>Bigger players remain Virgin Orbit, a key part of Richard Branson's space ambitions. The company is in the midst of debuting its LauncherOne rocket that sends small satellites into space. The orbital launcher could pave the way for Branson to further invest in the satellite business. A ten minute walk away down Long Beach's E. Conant Street is the headquarters for Spinlaunch. The startup's goal is to use centrifugal force to hurl rockets from Earth. </p><p>"This is really reshaping the Long Beach economy. This is going to be a 20-year push to builthis out," he said. "They are in a race to space they have to get the market as fast as possible. their investors are putting in hundreds of millions of dollars. And we are the easiest place to do it,"</p>
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