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Spotify Partners with Waze
Spotify has teamed up with Waze to bridge music and navigation and make the overall experience as seamless as possible. Through the partnership, Waze users can listen to Spotify playlists via the app, and Spotify users can continue to get navigation instructions from Waze while in the music app, TechCrunch reports.
WeChat Official Account Raises $3 Million
Yiwai11, a WeChat official account that focuses on fine art, has raised RMB20 million ($3.0 million) in a Series A round that puts its valuation at around RMB200 million ($30.2 million), according to a report from TechNode. The news marks an evolution in businesses that use WeChat as a platform to generate revenues by several means, including advertising and online-to-offline (O2O) services. WeChat is also in the process of allowing official accounts to charge users for content, providing another revenue stream for entities using the platform.
Esports Thrive Thanks to Ad Spending
New data from Juniper Research indicates that esports revenues worldwide will reach $1.8 billion in 2017, and climb to $3.5 billion by 2021. The surge in revenues will be driven largely by ad spending—roughly 90% of esports viewers will watch ad-supported content. A November 2016 survey from UBS Evidence Lab found that almost 20% of US video game console owners watched esports at least once a week.
Snapdeal Foresees $14.9 Million From Seller Ad Revenues
India-based ecommerce firm Snapdeal announced that it expects to generate INR1 billion ($14.9 million) in yearly revenues from its self-service advertising platform for sellers on its marketplace. The new ad platform was launched in 2016. Since then, more than 10,000 sellers and 200 brands have used the service, according to Snapdeal. eMarketer projects retail ecommerce sales in India, excluding travel, will total $23.4 billion this year.
German Law Threatens Social Sites with Massive Fines
A draft law under consideration in Germany would penalize social networks for failing to remove threatening or slanderous postings, or other content deemed criminal, from their sites by imposing fines of up to €50 million ($55.3 million), according to Reuters. The law would also fine a company’s chief representative in Germany up to €5 million ($5.5 million).
Jana Launches mCent Browser in India
US-based company Jana launched a mobile browser in India that allows users to receive up to 10 MB in free data daily in exchange for viewing ads. The new mCent Browser is available for those running Android smartphones in the market. There will be 267.1 million smartphone users in India by the end of the year, eMarketer estimates.
—Cliff Annicelli, Rahul Chadha, Rebecca Chadwick, Rimma Kats
This is the latest installment in an ongoing series of quarterly video ecosystem overviews focusing on monetization, audience, platforms and content. Our goal is to provide a summary of key developments each quarter on a need-to-know basis.
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