- New Streaming Data Underline Quibi's Struggles
- John Legend Takes to Wave's Virtual Stage
- TIkTok Reportedly Rakes in $200M
- Snap Rolls Out Pride Lenses For U.S. Regions
John Legend Takes to Wave's Virtual Stage<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzQwMDU4MC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYwMzQxNzg2Nn0.EWmJ9avEF-GlUzE4JTaXXPCP_opTqqoefsDLj9HvRX8/image.jpg?width=980" id="f35ac" class="rm-shortcode" data-rm-shortcode-id="6319a8cc4e2b1540a0423135472fae0a" data-rm-shortcode-name="rebelmouse-image" />
TIkTok Reportedly Raked in $200M<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzI4MTA2NC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYxMTI4NDc0M30.F2EmQwLKpL0bqpvqRnKtfsESZGRp-fL7HNtQzPApv1I/img.jpg?width=980" id="f162f" class="rm-shortcode" data-rm-shortcode-id="c9e4b7ecdb23a3681081ff2365c5e5fa" data-rm-shortcode-name="rebelmouse-image" /><p><em>The Information</em> <a href="https://www.theinformation.com/articles/tiktoks-u-s-revenues-expected-to-hit-500-million-this-year" target="_blank">reported Wednesday</a> that TikTok earned between $200 million and $300 million in revenue worldwide in 2019. The news site also said the Culver City-based social media phenomenon's 2020 revenue goals are $500 million in the U.S. alone. These figures follow <a href="https://www.bloomberg.com/news/articles/2020-05-27/bytedance-is-said-to-hit-3-billion-in-profit-as-revenue-doubles?sref=QjdS4d5U" target="_blank">a separate report from</a> <em><a href="https://www.bloomberg.com/news/articles/2020-05-27/bytedance-is-said-to-hit-3-billion-in-profit-as-revenue-doubles?sref=QjdS4d5U">Bloomberg </a></em><a href="https://www.bloomberg.com/news/articles/2020-05-27/bytedance-is-said-to-hit-3-billion-in-profit-as-revenue-doubles?sref=QjdS4d5U">last month</a> that TikTok's parent company ByteDance raked in $17 billion in 2019, and pocketed over $3 billion in profit.<br></p><p>A TikTok company spokesperson would neither confirm nor deny the figures, saying "we don't publicly share company data or revenue metrics."</p><p>In response to <em>The Information's </em>report that TikTok is considering hiring an American executive to oversee its sales team, the spokesperson said, "We are always looking at new opportunities to scale and attract great talent for our teams."</p><p>TikTok, which is <a href="https://dot.la/kevin-mayer-leaves-disney-for-tiktok-chapek-regime-moves-on-2646028687.html" target="_blank">now under the leadership of former Disney streaming executive Kevin Mayer</a>, will be participating later this month in the <a href="https://www.iab.com/events/newfronts-2020/#index-1" target="_blank">NewFronts, the digital media world's jamboree of presentations to woo advertising buyers</a>, which will be virtual this year.</p>
Snap Rolls Out Pride Lenses For U.S. Regions<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzQwMDU4Ni9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY0MjI1MTkyM30.4r9f-Ek_dqXAquPqNEemT4LZu26rUe-0-EhYp0Nxkjc/image.png?width=980" id="9d768" class="rm-shortcode" data-rm-shortcode-id="3e2ed82098da7c317b825f37551a1847" data-rm-shortcode-name="rebelmouse-image" />
Courtesy of Snap<p>June is Pride Month, and instead of the annual in-person festivities, <a href="https://lapride.org/" target="_blank">L.A. Pride</a> has been celebrating its 50th anniversary with a series of virtual events. Now, Snap is adding augmented reality (AR) to the mix. The Santa Monica company released five new AR lenses on Wednesday in partnership with L.A.'s <a href="https://www.pridemedia.com/" target="_blank">Pride Media</a>. The "community of storytellers, innovators and influencers" reaches over 6 million monthly unique users, which Pride says surpasses any other LGBT media brand.</p><p>The new lenses, which is Snap-speak for the digital overlays that transform a camera image, "spotlight diverse, queer-identifying changemakers advancing equity for all people in every U.S. state," according to a company statement. The release is paired with the annual "<a href="https://www.advocate.com/champions-pride" target="_blank">Champions of Pride</a>" issue from <em>The Advocate</em>, a Pride Media subsidiary publication.</p><p>A Snap spokesperson describes the five new lenses as "art gallery-style spaces" that help Snap's young-leaning users learn about LGBTQ+ and BIPOC advocates. These include "Mighty" Rebekah, a 13-year-old who successfully lobbied for an LGBTQ-inclusive school curriculum in her home state of New Jersey, and Brandon Wolf, the first survivor of the 2016 Pulse nightclub shooting in Orlando to testify before Congress.</p><p>Snap tapped five designers from its official <a href="https://lensstudio.snapchat.com/creators/" target="_blank">lens creator cohort</a> to represent five U.S. regions. Each creator has regional ties and either identifies as LGBTQ+ or an ally, the company says.</p><p>Brielle Garcia, designer of the Pacific West lens, says, "I wanted to work on a Pride lens that was not just a celebration of the past, but a celebration of our future. I hope these Lenses can be an encouragement to everyone in the LGBT community. Encouragement that people as unique as you can have success in business, politics, art, or anything you can dream of. This message is important to me because this kind of success has not always been available to us. So many amazing people have come before us to pave the way and this is a celebration of their success and a guide to what you can achieve."</p><p>Joshua Keeney, repping the Northeast, says, "The takeaways that I want people to have with this Lens is that there is incredible diversity within the LGBTQ community, that everyone can be a champion in their own way, and can bring changes to their own communities."</p>
- L.A. Tech Updates: 'Smart' Glass Gets a Boost - dot.LA ›
- Los Angeles' Tech and Startup Scene is Growing. - dot.LA ›
- Snap Stops Promoting Trump In its Discover Platform - dot.LA ›
- Snap Partners with Headspace For Meditation Tools - dot.LA ›
- Snapchat Rolls Out Pride Lenses For Every U.S. Region - dot.LA ›
Wave, an entertainment technology company that turns performers into digital avatars and puts them on virtual stages where they can entertain and interact with fans, announced a $30 million series B fundraise on Wednesday.
The L.A.-based company has now raised $40 million total.
Live performances typically comprise upwards of 70% of musicians' incomes. With in-person shows shuttered amid the coronavirus pandemic, the music industry has been embracing new ways to generate revenue and drive fan engagement. Wave represents one such channel.
- Why is Big Tech Buying Up L.A.'s Virtual Reality Startups? ›
- Virtual Reality and Augmented Reality Take Off in the Video Game ... ›
- Event Hub Aims to Bring Vendors Back to Virtual Concerts - dot.LA ›
Coronavirus Updates: Newsom Talks Businesses Opening; Wave Hosts Virtual Concerts; Film Release Rumblings
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.
- Newsom eyeing how to reopen businesses -- at least in parts of the state
- No concerts? No problem. Wave to host virtual performance series with avatars
- Trolls scores $100 million in revenue from streaming, bypassing shuttered theaters; AMC lashes out
Newsom says eyeing how to reopen businesses -- at least in parts of the state<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzE3MzE2Mi9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYwMjk0OTMxMH0.fABHV2PSiRPRf-1nbHtxhe5Av4iWJlxIsmPal194bKk/image.jpg?width=980" id="67249" class="rm-shortcode" data-rm-shortcode-id="d1d2d48e1ea02842dd34b5b0d96cf3f9" data-rm-shortcode-name="rebelmouse-image" />
No concerts? No problem. Wave to host virtual performance series with avatars<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzE3MzI2NS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYzNjI1OTk4N30.7VX065LaoWiYs-sthPyI5f_ZdUV2FTs1mi9nvi9Z6AE/image.png?width=980" id="f97d7" class="rm-shortcode" data-rm-shortcode-id="f600f6c286a276e6341f7ff2a49a25e9" data-rm-shortcode-name="rebelmouse-image" />
Wave<p>Wave, an L.A.-based entertainment technology company, announced it will host a series of virtual concerts throughout the spring and summer. Performers will include John Legend, Tinashe, and Galantis, the last of whom will kick off the "One Wave" series on Thursday, April 30. "Through our proprietary technology and core gaming capabilities," said Wave CEO Adam Arrigo in a statement, "Wave can go beyond the traditional live streaming concerts and create artist avatars, virtual environments and interactive experiences that truly immerse audiences at the nexus of gaming and entertainment."</p><p>"Performances will stream across various social media and gaming platforms, so fans can socialize and interact with the artists as they perform, cheer as part of a global avatar audience, voting on key show moments, play mini games, and socialize with each other," the statement continued. Wave, founded in 2016, claims that up to 500,000 fans have tuned in to its past virtual concerts. Proceeds from the One Wave series will go to non-profit organizations that could use a hand during the coronavirus pandemic, the company said.</p>