Snapchat corporate parent Snap Inc. sold fewer than 42,000 of its Spectacles during the three months ending on June 30, the company revealed during its Q2 earnings call on Thursday.
During that call, CFO Drew Vollero said that Snap had generated a total of $5.4 million in its “other” revenue segment — a catch-all for non-advertising revenue that is primarily driven by sales of the $130 Spectacles wearable.
Snapchat sold an estimated 62,000 Spectacles during Q1 of 2017. This means that sales declined by roughly a third.
The company first introduced Spectacles in fall of 2016, and initially only sold the product through a limited number of vending machines placed in key cities. Earlier this year, Snap began selling Spectacles to all U.S. consumers via its website, and in June, it began selling the wearable in Europe via its website and vending machines as well.
BuzzFeed is slashing its workforce by 15% in a move to boost the internet-media company’s profitability and “focus on content that is working,” according to a memo from CEO Jonah Peretti sent to staffers Wednesday. The cuts will be made next week, according to Peretti’s memo. BuzzFeed has about 1,450 employees worldwide, so around 218 [...]
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Video-news startup Cheddar is launching its live-streaming news networks on Sony’s PlayStation Vue, making it the first content provider to span all over-the-top subscription services in the U.S. The company, founded in 2016, operates two networks — the newly rebranded Cheddar Business, positioned as a CNBC-style financial and business network for millennials, and Cheddar News, [...]
Discovery hired Avi Saxena, former VP of technology for Amazon Marketplace, as chief technology officer of direct-to-consumer. Saxena reports to the guy who was his boss at Amazon: Peter Faricy, who was appointed CEO of Discovery’s Global Direct-to-Consumer division in August 2018 and who headed up the Amazon Marketplace third-party seller business. In the newly created [...]
Comcast-backed virtual reality startup Spaces is getting ready to open its second California location in San Jose next month: The company has teamed up with Cinemark to open a new VR center at the Century 20 Oakridge and XD theatre in San Jose on February 8. The new Cinemark Spaces center will open with “Fight for [...]
Sean Hannity sometimes tells younger colleagues at Fox News Channel that he is “the bridge between two generations of Fox” because he has been part of its primetime lineup since 1996. Now he may serve a similar purpose for a third. Fox News will next week bring Hannity to the world of video-streaming, launching “Hannity [...]