Need to Know – The latest US media & marketing news: Spotify's $500bn boost, Apple Music anti-trust investigation & Google's Larry Page voted top tech CEO
Morning all, here’s a glimpse at all the media and marketing news you should know today.
1. Spotify has raised $500m as it gears up to battle with Apple Music, asserts the Wall Street Journal. The fundraising attracted investment from a number of firms in Europe and the US, including a $115m sum from Nordic telecom operator TeliaSonera AB. The Swedish music-streaming company is now thought to be worth $8.53bn.
2. Meanwhile, rival Apple is being investigated for signs of potential anti-competitive action over its negotiations with the music industry, reports the Guardian. The New York attorney general’s office and its counterpart in Connecticut, are looking at whether music labels colluded over the tech behemoth’s new Apple Music service or if they were pressured into favouring it.
3. Facebook has started to roll-out its Bluetooth beacon service Place Tips, says the Register. The yelp-like system lets businesses send updates to users’ smartphones when they are nearby. Mark Zuckerberg’s firm is sending out free Bluetooth beacon devices to retailers that request them.
4. Google boss Larry Page has been named the top tech chief executive in the country by his employees, writes Business Insider. The research, which was conducted by employment site Glassdoor.com, seen Page come out on top with a 97 per cent approval rating. Nike’s Mark G Parker was voted number two, while Charles C Butt of H-E-B and Facebook founder Mark Zuckerberg completed the top four.
5. Twitter is changing the way users can view conversations on their feed, notes MediaPost. The platform will now group conversations together to highlight the most interesting exchanges. The social network will consider various factors like whether the initial account has replied to others’ comments.
6. Five major broadcast television station groups have started a new venture called NewsON to push local content on connected devices, writes MediaPost. The free, ad-supported service will reach two-thirds of US TV homes offering live and same-day local newscasts on demand. Television Station Group, Cox Media Group, Hearst Television, Media General and Raycom Media are all signed up.
7. A two-person agency has been praised for creating Nike's Women's World Cup ad, says Adweek. The brand’s new minute-long ‘American Woman’ spot launched as part of a bigger #NoMaybes campaign this week. Portland-based consultancy Thousands Creative, which doesn’t even have a website, is responsible for the work. 'We didn't want to go into this trying to make a women's spot—we wanted to make a soccer spot,' said Michael McGrath, partner at the agency.
8. Crystal Pepsi is poised for a comeback. According to AdAge the transparent 1990s-era cola is to make a return in the near future. The soda giant sent its strongest signal yet that Crystal might soon be available again after it responded to a tweet posted by competitive eating star Kevin Strahle. The clear cola was first introduced in 1992 but lasted only a few years.
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