Apple will expand its ad business just as it brings in new privacy rules for iPhones that may cripple the ads offered by its rivals, including Facebook. It already sells search ads for its App Store that allow developers to pay for the top result. It now plans to add a second advertising slot, in the “suggested” apps section in its App Store search page.
App makers who rely on mobile distribution from Apple and Google complained of the platforms’ gatekeeper power, which has allowed them to maintain a strong grip over their businesses. The hearing brought together representatives from Apple and Google as well as several of their most outspoken critics: Tinder owner Match Group, Tile, and Spotify.
Bloomberg media ended Q1 with more than 300,000 active subscribers, up from 250,000 in Q4 2020. Its revenue is up 30% from this time last year. Apart from Q1 revenue growth, its pre-pandemic quarter performance and growth in advertising and subscriptions in every sector have spurred this progress.
Creator+, a new startup that finances, produces, and distributes feature-length films from top creators and emerging storytellers announced that it has raised $12 million in funding led by Petra Group and Freestyle Capital. Creator+ also aims to build its own streaming platform, where the movies will be available for individual purchase, with no subscriptions and no ads.
DoubleVerify raised around $360 million in its initial public offering with a target market value of $4 billion. Shares jumped 30% after trading began midday—opening at $35 compared to the IPO price of $27—to reach a market value of more than $5 billion. DoubleVerify reported $244 million in revenue with 34% YoY growth.
Oath Care, a four-person startup based in San Francisco, recently received $2 million in seed funding from XYZ Ventures, General Catalyst, and Eros Resmini, the former CMO of Discord and managing director of the Mini Fund. It is developing a $20-per-month smartphone app aimed at changing the lives of new mothers.
Disney and Sony Pictures have signed a multi-year “content licensing agreement” that will bring new Sony theatrical releases, starting with its 2022 films, to Disney-owned platforms. The deal also gives Disney the rights to many of Sony’s older films, including Spider-Man titles. Sony’s theatrical releases from 2022 through 2026 are included in the deal.