Friday Five: Navigating AI, Streaming, & Subscriptions
We’re back with another edition of Friday Five! This week, we talk about Google paying publishers to test AI, streaming services slowing down, Mx3 Barcelona being a major success, the European Commission fining Apple $2 billion, and Substack surpassing 3 million subscribers.
Google Paying Publishers to Test AI
Google plans to pay publishers to license content for its upcoming AI-generated news service, Gen AI. This initiative aims to provide users with personalized news summaries generated by artificial intelligence, incorporating content from various publishers. Read More on AdWeek.
Streaming Services Slowdown in 2023
Growth of streaming services saw a significant decline in 2023, with rates dropping almost half compared to previous years, from 21.6% to 10.1%, suggesting market saturation. Despite this slowdown, about 25% of customers who have canceled their subscriptions eventually re-subscribed to the same platform. Read More on Forbes.
Mx3 Barcelona Was a Major Success
The Mx3 Innovation in Media event in Barcelona brought together media professionals to share industry trends, knowledge, and network. Some key themes at the event were strong brands and highlighting digital fatigue in the industry. Read More at MediaMakersMeet.
European Commission Fines Apple $2 Billion
The European Commission has fined Apple a record-breaking $2 billion for anti-competitive practices following a complaint from Spotify. The investigation centered on Apple's App Store rules, which allegedly restrict competition in the music streaming market. Read More on Subscription Insider.
Substack Surpassed 3 Million Subscribers
Substack, a platform for writers to publish and monetize their work through subscriptions, announced that it has surpassed 3 million paid subscriptions. The platform's success signifies a media shift, allowing writers to bypass traditional outlets and maintain direct relationships with their audiences. Read More on AXIOS.