Reverberate: Media and marketing news you need to know today – Yahoo pulls plug on China, Starbucks' #RaceTogether flop & Foursquare revenue doubles
Morning all, here’s a glimpse at all the media and marketing news you should know today.
Reverberate: Media and marketing news you need to know today
1. Yahoo is to withdraw from China according to the Wall Street Journal. The company will lay off between 200 to 300 employees and shut down its Beijing research centre in the latest round of cost-cutting measures implemented by chief executive Marissa Mayer.
2. Starbucks' new #RaceTogether initiative is causing controversy among employees and customer alike, says Adweek. Twitter users have lambasted the campaign, which aims to encourage baristas to discuss race with their customers, pointing out that the it puts an unfair burden on the coffee house's staff and questioning the firm's own diversity policy.
3. Foursquare's revenue is doubling each year, notes Business Insider. The search and discovery app's chief executive said marketers are happy with the results the firm is delivering and added that revenue is in "triple-digit growth".
4. A report from the New York Post claims that there are now more Uber cars than yellow taxis on roads in the Big Apple. Black is apparently the new yellow as figures reveal the startup now has 14,088 cars in the city's five boroughs compared to 13,587 medallion cabs.
5. Sony has launched its long-awaited TV service, Playstation Vue writes the Huffington Post. The platform comprises more than 50 channels, including NBC, CBS, Fox, Comedy Central and AMC and is currently available in New York, Chicago and Philadelphia.
6. Business Insider intelligence has predicted that Apple's new TV streaming product could generate $4bn a year by the end of 2018. The brand is allegedly in talks with a large number of TV networks for the service which may launch at the end of this year.
7. Microsoft has announced that it will be replacing Internet Explorer with a new program based on its Project Spartan technology, claims MediaPost. The yet-to-be named browser will run on phones, tablets and personal computers, but will be specifically tailored for the mobile experience.
8. Amazon's one-hour delivery service is coming to Baltimore and Miami, reports The Verge. Prime now, which debuted in New York last December is accessible via a dedicated app on iOS and Android and is available seven days a week between 8am and 10pm.
9. Revenues from Spotify, SiriusXM and other steaming services hit $1.87bn in the US last year says the Financial Times. Sales of CDs slipped 12.7 per cent to $1.85bn as the decline in total sales of physical formats was cushioned by the renaissance of vinyl records.
10. Video tech company Ooyala has struck a deal with TubeMogul, claims Marketing Land. The pair are to integrate services with the view to develop a premium video programmatic marketplace for video publishers, broadcasters and operators.
Stay in the media and marketing news loop at thedrum.com, and for a look at yesterday's round-up hit this link.