Connect with us

Media

ByteDance has no sale plans for TikTok, media report untrue: internal note – TheChronicleHerald.ca

Published

on


By Yingzhi Yang and Brenda Goh

BEIJING/SHANGHAI (Reuters) – Chinese social media firm ByteDance has no plans to sell part or all of its TikTok app, the short video platform’s head said on Tuesday, denying a media report which said the company was currently weighing options to do so due to U.S. concerns.

Bloomberg reported on Monday that the company was considering a TikTok stake sale.

“From time to time you may read stories in the media that are not true. Today there is an inaccurate report claiming that ByteDance has considered selling part or all of TikTok,” Alex Zhu said in an internal company note seen by Reuters.

“We went on the record saying it was not true, but they decided to publish it anyway. I want to assure you that we have had no discussions with potential buyers of TikTok, nor do we have any intention to.”

A ByteDance spokeswoman declined to comment on the internal note but reiterated that there had “been no discussions about any partial or full sale of TikTok”.

“These rumors are completely meritless,” she added.

ByteDance has been seeking to ringfence TikTok, popular with teenagers in the United States, from much of its Chinese operations to assure U.S. regulatory officials that personal data held by the app is stored securely in America and will not be compromised by Chinese authorities.

The Committee on Foreign Investment in the United States, which reviews deals by foreign acquirers for potential national security risks, is looking into ByteDance’s $1 billion purchase of social media app Musical.ly in 2017 that laid the foundations for TikTok’s rapid growth, Reuters has reported.

(Reporting by Yingzhi Yang in Beijing and Brenda Goh in Shanghai; Editing by Himani Sarkar)

Let’s block ads! (Why?)



Source link

Media

InvestorChannel's Media Watchlist Update for Thursday, September 24, 2020, 16:30 EST – InvestorIntel

Published

on


image_pdfimage_print

InvestorChannel’s Media Stocks Watchlist Update video includes the Top 5 Performers of the Day, and a performance review of the companies InvestorChannel is following in the sector.
Sources Include: Yahoo Finance, AlphaVantage FinnHub & CSE.
For more information, visit us at InvestorIntel.com or email us at [email protected]

Watchlist Companies:
– Lingo Media Corporation (LM.V) CAD 0.09 (20.0%)
– QYOU Media Inc. (QYOU.V) CAD 0.07 (16.67%)
– MediaValet Inc. (MVP.V) CAD 2.13 (5.97%)
– Network Media Group Inc. (NTE.V) CAD 0.14 (3.85%)
– Stingray Group Inc. (RAY-A.TO) CAD 5.47 (1.86%)
– Slack Technologies Inc. (WORK) USD 26.59 (0.83%)
– GVIC Communications Corp. (GCT.TO) CAD 0.15 (0.0%)
– HubSpot, Inc. (HUBS) USD 283.18 (0.0%)
– Media Central Corporation Inc. (FLYY.CN) CAD 0.01 (0.0%)
– Postmedia Network Canada Corp. (PNC-A.TO) CAD 1.60 (0.0%)
– Quizam Media Corporation (QQ.CN) CAD 0.49 (0.0%)
– Thunderbird Entertainment Group Inc. (TBRD.V) CAD 1.95 (0.0%)
– WOW! Unlimited Media Inc. (WOW.V) CAD 0.36 (0.0%)
– ZoomerMedia Limited (ZUM.V) CAD 0.07 (0.0%)
– Adobe Inc. (ADBE) USD 467.67 (-0.58%)
– Wix.com Ltd. (WIX) USD 248.46 (-0.7%)
– Corus Entertainment Inc. (CJR-B.TO) CAD 2.77 (-0.72%)
– Zoom Video Communications Inc. (ZM) USD 464.98 (-7.1%)
– Glacier Media Inc. (GVC.TO) CAD 0.20 (-11.11%)
– Moovly Media Inc. (MVY.V) CAD 0.07 (-18.75%)

InvestorChannel

Let’s block ads! (Why?)



Source link

Continue Reading

Media

Surrey-born Trybe social media app's award system connects with Nickelback singer – Cloverdale Reporter

Published

on


Dan Swinimer helped gather a tribe to launch a new app he hopes will disrupt the world of social media and websites where things are bought and sold.

Currently beta-tested for public launch, the Trybe platform counts Nickelback singer/guitarist Chad Kroeger among its four “founders/angels,” along with Swinimer, his father Bill and fellow Surrey-area musician/construction company boss Felipe Freig.

“We set out to try and monetize social media, while making it a safer and more positive experience,” said Swinimer, who lives in the Clayton area of Surrey. “We felt it unfair that social media users do all the work, provide all the content but make none of the profits.”

Trybe is based on an award system that sends as little as 10 cents per “like,” coupled with a built-in “win-win” for users, as Swinimer describes it.

“Every time you award someone else’s post, you get exposure for your own post which gives you a better chance of your post being seen and also making money in awards,” he told the Now-Leader.

“It’s turned into a thing, it really has,” added the Ontario-raised Swinimer. “We sold shares and raised almost $2 million, we have head offices in Toronto, a CEO (Thomas Jankowski) and staff of 10 coders. It’s turned into so much more than we originally conceived.”

In the late-2000s, Swinimer and Freig were members of the rock band Jet Black Stare when they met Kroeger, who shared a manager at the time.

(Story continues below video)

[embedded content]

Today, Swinimer is a songwriter/producer with his own Manicdown Productions, and Frieg runs Langley-based Versa Homes.

A couple of years ago, Frieg told Swinimer about an issue involving his teen son, Jadis, who’d been posting video of his scooter-riding tricks to social media.

“You can’t even believe the tricks that this kid can do on the scooter, it’s amazing,” Swinimer said. “His son didn’t have any sponsors at that point, but he was spending hours and hours every day practicing, getting really, really good, and then he spent his own money buying all this video equipment and editing software. So he’d spend four or five hours a day practicing, learning tricks, videoing them from multiple angles, then he’d edit these videos just so that he could post them on social media. And what does he get for that? The ‘likes,’ and that’s it. He’d been doing this for awhile, and we realized that with the social media model, everyone is providing the product and getting nothing in return.”

(Story continues below video)

After Swinimer and Freig talked some more, they clicked on the idea for Trybe as a way to monetize social media.

“It’s a platform where if you post something, you have a chance to make money on that post,” Swinimer elaborated. “When people post to social media, the most important thing is content, connecting with people and receiving validation from others. So imagine if you mixed in the possibility of making money and also having complete control over how many people will see your posts.… The more people I reward, the more people will see my posts, and the more chance I have of making money on my posts. If the content is good and views-to-engagement ratio is high, it also drives exposure to the post, so that lights a little fire under the post.”

• RELATED STORY, from May 2020: Arm surgery for Nickelback’s Surrey-raised drummer Daniel Adair.

Out of the gate, Kroeger had the level of celebrity pull sought by Swinimer and Freig for Trybe.

“We discussed it with Chad and right away, he was excited about it because he could see how it could transform the music business,” Swinimer recalled. “It could completely disrupt the entire distribution chain, because it’s a pain in the ass going through iTunes, which takes a lot of the proceeds. So what about a world where you post new music on Trybe and you just say, if you give anyone who rewards this post a dollar or more, gets a download code, and now you’re keeping all the money that comes in, as opposed to just half of it.”

Right now, to get early access to the app, users join a waitlist by downloading the iOS or Android app from trybe.ly.

(Story continues below)

On Wednesday (Sept. 23), Nickelback raved about Trybe’s launch to the band’s 738,000 followers on the rival Twitter platform: “No more giving away your creativity and time to social media giants. The new way — Social. Be yourself, be with your people, get rewards. See you on there.” A day later, Avril Lavigne posted the same message for her 21 million followers on Twitter.

Swinimer says Kroeger is “very involved” in the project, and likes to be in the meetings when and where he can, including the time when the four Trybe founders flew in Kroeger’s private jet to Silicon Valley.

“We didn’t tour with Nickelback (with Jet Black Stare) back then, but toured with a lot of their friends, like 3 Doors Down, Hinder and Staind,” Swinimer recalled. “For someone of his level of recognition, Chad is very accessible to musicians. He’s not hard to find and he’s happy to talk to people. One night he took us out to celebrate our record deal when we first signed it, so that was kind of our first foray. He took us out to the Commodore Ballroom because Kid Rock was doing a special invite-only show there. So we’re in his little VIP section, and then we went to some penthouse suite afterwards to hang out. It was weird, man, because to that point it was all independent music, never getting anywhere, and all the sudden we’re partying with Kid Rock. It was a wild ride.”

In the decade since those rock-band days, after Jet Black Stare’s record deal with Island Def Jam had collapsed, Swinimer turned his attention to country music and launching the careers of musicians including Madeline Merlo and Jojo Mason. “I’ve been living in Surrey for 20 years,” he noted. “I built my production company here and have written/produced upwards of 40 hit songs since startup.”

• RELATED STORY, from March 2020: Surrey’s JoJo Mason brings mom along for Saturday song during Diesel Bird Digital Music Festival.

As for Trybe, the app’s public release should be in a month or so, he said.

“We’re doing a system where we are making it very exclusive and making people excited about it, to get in early. We have multiple celebrities on board to get behind this new idea once we are public. It’s exciting.”



tom.zillich@surreynowleader.com

Like us on Facebook Follow us on Instagram and follow Tom on Twitter

Musicsocial mediaTechnology

Get local stories you won’t find anywhere else right to your inbox.
Sign up here

Let’s block ads! (Why?)



Source link

Continue Reading

Media

'Absolutely huge': Media groups optimistic after Liberal pledge to make internet giants pay for content – Financial Post

Published

on


Article content continued

A way to ensure that people pay a fair fee to producers of the content, not a penalty, nothing punitive

Daniel Bernhard, Friends of Canadian Broadcasting

Canada’s stab at a law might follow Australia’s proposed effort based on fair trading. Canberra legislators may have a final draft of it within weeks, Rod Sims, chair of the Australian Competition and Consumer Commission, told the Associated Press this month.

Facebook warned Australia that it might simply bar local news rather than pay for it, while Google said it could impact its search results and user data, according to the AP report.

Efforts in Europe to rein in the tech giants through copyright laws so far haven’t been successful.

“There’s a real virtue in the Australian model in that it’s very fast and it’s direct negotiations with the government,” Hinds said. “The European model is a little more complicated.”

The best option is to adopt a pay-for-use fee structure, Bernhard said, so the money goes directly to creators, not as a tax on tech companies to the government — something similar to how music is billed to radio stations. He cited a study by Jean Hugues-Roy, of Université de Québec à Montréal, saying Facebook alone costs Canadian newspapers $135 million a year in lost revenue.

“This is about market power and finding a way to ensure that people pay a fair fee to producers of the content, not a penalty, nothing punitive, just a fair compensation,” Bernhard said.

Zimbel said he recently chanced upon old sales slips showing the band’s income from as recently as 2007 and how they dwarfed today’s receipts because of online streaming. “You don’t get rich playing in a nine-piece jazz band,” he said. “But I could not believe the numbers. They were huge compared to what we see now.”

The musician said he typically sees a rate of $50 for 250,000 streams, whereas the first month of a record release 13 years ago netted $7,800.

“It’s not only that you’re not making money from streaming,” Zimbel said. “It’s that all physical sales and downloading sales have evaporated now as well because people are only streaming.”

Let’s block ads! (Why?)



Source link

Continue Reading

Trending