Posts Tagged: Highlights
Peloton’s huge loss highlights how hard it’ll be to turn things around
Peloton has posted a heavy quarterly loss for the first quarter, indicating that it has a lot of work to do in order to correct course. The company made a net loss of $ 757.1 million in the first three months of the year (Q3 of Peloton's 2022 fiscal year). Not only was that a worse result than expected, it's a massive decrease from the $ 8.6 million loss it posted for the same period in 2021.
Revenue dropped from $ 1.262 billion a year ago to $ 964 million. Operating expenses, meanwhile, grew by 101 percent year-over year to $ 920 million. Peloton says those represented 95.4 percent of total revenue for the quarter, compared with 36.3 percent a year earlier.
One of the company's biggest challenges has been handling its stockpile of connected fitness equipment in the wake of a sales decline as more people return to office life. "We have too much [inventory] for the current run rate of the business, and that inventory has consumed an enormous amount of cash, more than we expected, which has caused us to rethink our capital structure," CEO Barry McCarthy, who took on the job in February, wrote in a letter to shareholders. "We believe the inventory will sell eventually, so this is primarily a cash flow timing issue, not a structural issue."
Around the time McCarthy was appointed, Peloton announced it would cut 2,800 jobs, or around 20 percent of the corporate workforce. Rumors swirled in February that the company was an acquisition target for several suitors, with the likes of Amazon and Nike said to be interested.
Although it won't be easy for the company to get back on track, Peloton at least has a plan to turn things around. It aims to return to positive free cash flow in its 2023 fiscal year.
Last month, it announced an upcoming increase to subscriptions along with price cuts for many of its connected fitness machines. There are several reasons why Peloton is banking more heavily on subscriptions. For one, subscription revenues rose by 55 percent year-over-year to $ 369.9 million. The company now has 7 million members, and McCarthy has a long-term goal of reaching 100 million. "Our users are highly engaged, and our subscriber churn rate is less than 1 percent, which is the best I’ve seen," McCarthy, a former Netflix and Spotify executive, said.
McCarthy said the pricing changes could help the company deliver "roughly $ 40 million of incremental revenue monthly." The increased cost of the All-Access plan doesn't kick in until June 1st, but McCarthy says there's only been a small increase in user attrition and the move will generate an extra $ 14 million in revenue each month if that level of churn holds.
Cutting prices on some hardware models has led to a 69 percent increase in daily unit sales too. So far, that move has increased revenue by $ 25 million per month. The company also plans to keep testing a program that will combine an All-Access subscription plan with rentals of its equipment.
McCarthy noted that Peloton is revamping its workforce as it shifts from a hardware- to a software-focused company. The recent job cuts factor into the company's plan to increase annual run-rate savings to at least $ 800 million by its 2024 fiscal year. It also signed a binding commitment letter to borrow $ 750 million in five-year term debt from JP Morgan and Goldman Sachs.
Meanwhile, Peloton says more than half a million users have tried Lanebreak, its first gamified workout, on Bike and Bike+. The company expects to lean "more into gaming content in response to the success of Lanebreak."
Spotify tests ‘Tastebuds’ feature that highlights your friends’ favorite tracks
Engadget RSS Feed
2019 Brandcast stage highlights: Primetime is now personal
Today, people want to watch videos that relate to their interests and passions – whenever they choose, on any device. For some of us, it’s guitar lessons, but for others, it’s baking their own masterpiece alongside experts like How to Cake It. Everyone’s primetime is personal, and what you watch often reflects who you are.
There’s no better place than YouTube to find the creators, music and shows that you love. And that’s why YouTube is #1 in reach and watchtime among ad-supported streaming media, according to Comscore.1
For advertisers, this means being able to reach people who are increasingly cutting the cord. In fact, YouTube now reaches more 18 to 49 year-olds in an average week than all cable TV networks combined.2
Tonight, at our eighth annual Brandcast event, we celebrated the creator, entertainment and music content that audiences love on YouTube. We also showcased new ways we can better help brands reach viewers in an on-demand world.
It’s all about the engagement and results
YouTube is focused on helping brands reach their audiences and drive business impact. To deliver this, we announced that Nielsen Total Ad Ratings (TAR) is now supported on YouTube. This lets brands compare YouTube and TV reach apples-to-apples.
Across the 20 Total Ad Ratings (TAR) studies we’ve commissioned with Nielsen for brands like Colgate and the U.S. Navy, YouTube has consistently driven incremental reach at a more balanced frequency compared to TV.3
And across all Marketing Mix Modeling studies we’ve commissioned from Nielsen in the past two years that measured Google Preferred, we had greater sales per impression than TV in every one of them.4
To give advertisers more opportunities to validate their investments, we announced that Nielsen Catalina Solutions (NCS) Sales Lift will be available for Google Preferred campaigns before the end of 2019. The tool helps brands measure the lift in offline sales for U.S. consumer packaged goods brands, and provide deeper performance insights across audiences, creative and more.
Karate-chopping the paywall: Bringing more YouTube Originals to advertisers
From Hollywood celebrities to top YouTube creators, YouTube Originals deliver the content audiences love. We saw this reflected in last year’s star-powered slate, which amassed over 2.5 billion views across 50 shows like Will Smith’s “The Jump” or Liza Koshy’s “Liza on Demand.”5
But some of our best content was still behind the paywall, including “Step Up: High Water,” which achieved unprecedented viewership for its season two premiere, and “Cobra Kai,” the critically acclaimed reboot of the 1984 classic “The Karate Kid.” In its rookie season, “Cobra Kai” received 11 award nominations (including an Emmy nomination), the Golden Tomato Award for Best TV Drama and a 100-percent rating on Rotten Tomatoes – making it the highest-reviewed reboot of all time. And just after its season two premiere last week, which reached 20 million views in six days, Parrot Analytics confirmed Cobra Kai is the most in-demand digital original series in the world right now.6
Today, we announced that all new YouTube Original series and specials will soon be available for fans around the world to watch for free with ads — just like they enjoy other content on the platform. And we are excited to confirm this includes the renewal of “Cobra Kai” for season three.
This gives advertisers more opportunities to engage with a broader audience, drive meaningful results and align with top Hollywood talent and YouTube creators.
Our new slate builds upon the success of our first two years. We’re continuing to focus on stories that delight us from our favorite personalities, inspire us through rich cultural moments and educate us on topics that matter. From returning hits like “Kevin Hart: What the Fit” and “Liza on Demand” to new shows — with Dude Perfect, Markiplier and a top secret project with Justin Bieber — the slate celebrates the diversity, authenticity and spirit characteristic of the YouTube community.
YouTube Originals will be available to advertisers through bespoke sponsorships or Google Preferred lineups.
More music live streams, more opportunities for brands
Last month, YouTube’s live stream of Coachella’s first weekend was the most viewed yet, earning over 82 million live views — an increase of over 90 percent compared to 2018.7
After nine years of success in the desert, we’re doubling down on music festivals, starting with a new two-year partnership to live stream Lollapalooza this August. In addition to the curated live stream over the four-day festival, for the first time ever, fans will get additional custom content that gives them unique access to the festivals’ artists.
These key moments in music, along with other cultural events like YouTube FanFest, provide more opportunities to reach audiences with the content they are most passionate about.
The magic of Google Preferred
Google Preferred represents among the best content on YouTube.
To help advertisers better reach their audience, we’re evolving our Google Preferred offering to reflect changing viewing habits, and help advertisers connect with those viewers where they are.
Our proprietary algorithm, the P-Score, looks at the popularity and viewer passion of specific content — things like the amount of repeat views and how often videos are shared to keep Google Preferred Lineups fresh. It also draws on protection, which places a greater emphasis on content suitability where Google Preferred Lineup ads will only serve on videos that are reviewed first by machine classifiers, then verified by humans.
Tonight, we shared that we’re adding two new ways to help the P-Score be even more useful to brands. There’s platform (for videos frequently watched on larger screens) and production (for content that has higher production values like advanced camera work or sound quality) to bring more high-quality inventory into Google Preferred.
Where our TV offering is going and how it’s growing
Our TV offering comes in two parts: The first is YouTube on TV screens, which is the YouTube app optimized for Internet-connected TVs. Tonight, we shared that connected TVs represent our fastest growing screen, where watch time now tops 250 million hours per day.8
The second is YouTube TV, which launched two years ago to give people a new and reimagined way to enjoy cable-free live TV along with the best of YouTube content. Now with over 70 broadcast and cable channels, YouTube TV is available nationwide and will be accessible as a standalone lineup in Google Preferred this upfront season. This change, along with audience guarantees and show-level exclusions, allows advertisers to zero in on live and on-demand inventory. And most importantly, brands can go beyond demographics to reach audiences based on their interests – just like with the core Google Preferred offerings.
For today’s viewers, primetime is personal. With this expanded offering, advertisers and brands can reach and influence audiences on proven platforms like YouTube.
Check out #Brandcast to see highlights from the night.
Kate Stanford, Head of Global Advertiser Marketing at YouTube, whose personal primetime includes PostmodernJukebox, Mark Rober and First We Feast.
1 Comscore OTT Intelligence and Custom Reporting based on Total Home Panel, September 2018, U.S
2 Google commissioned Nielsen study, U.S., May 2018. People age 18-49. Average weekly reach for Cable TV and YouTube (includes mobile, desktop, and living room devices)
3 “Nielsen Total Ad Ratings (TAR) Meta Analysis, including all 20 TAR US studies inclusive of YouTube in-app traffic commissioned by Google running from January 2018 to March 2019 across desktop, mobile and TV. Incremental Reach Value calculated as YouTube’s on-target incremental reach / YouTube’s Total on-target Reach. Standard Deviation 22%. On Target Frequency calculated as On Target Impressions / On Target Reach. Standard Deviation 6.5
4 Commissioned Nielsen MMM Meta-Analysis, US 2017-2018. Base: all the studies Google commissioned in 2017 and 2018 where Google Preferred Lineups was measurable, a total of 20 MMM across 3 categories. Count based on incremental offline retail sales measured as two-tailed significance > 90%. Effectiveness is defined as incremental sales per impression. Incremental offline retail sales measured for TV represents average across all TV broadcasters. calculated as On Target Impressions / On Target Reach. Standard Deviation 6.5
5 YouTube Originals YouTube Analytics, Global, Jan 2018-Dec 2018
6 YouTube Internal Data, Global, [Apr 24-30, 2019]; Parrot Analytics, [Apr 24-30, 2019]
7 Youtube Internal Analytics, Global, April 2019
8 YouTube Internal Data, Global, March 2019. Based on 90 day average of WatchTime for Living Room Devices, which include smart TVs, Roku/Apple TV, and game consoles
Highlights from the Brandcast stage: New YouTube Originals and advertiser offerings
Primetime is no longer defined by the time the show is aired, but by the connection that content has with its audience. We see this reflected through over 150 million hours of YouTube watchtime per day on TV screens alone.1 In this next era of entertainment and information, we’re more committed than ever to YouTube being a platform for fresh voices, authentic stories, and thought-provoking dialogue.
Tonight at our seventh annual newfront event, Brandcast, we unveiled the latest content trends and new ways for advertisers to connect with their most attentive audience to drive unmatched results for their business. Brandcast is where advertisers, creators and fans come together to celebrate the vibrant community of YouTube.
Doubling down on can’t-get-enough-of original content
At last year’s Brandcast, we announced our new slate of ad-supported YouTube Originals, bringing shows from top Hollywood talent and YouTube creators to everyone, everywhere. From the Slow Mo Guys to Kevin Hart, our first year slate of brand-sponsored shows amassed over 700 million views across all episodes and related clips.2
Katy Perry’s 96-hour livestream, “Witness World Wide,” was named one of Time Magazine’s Top 10 TV shows of 2017, and just today, “Demi Lovato: Simply Complicated” was nominated for Best Music Documentary for the 2018 MTV Movie & TV Awards. All of this content was free and available to YouTube’s 1.8 billion monthly logged-in users3 as a result of partnerships with brands like Johnson & Johnson Consumer, Ulta Beauty, LL Bean and more.
As we move into our second year, we plan to build on the success of our first. We’re using the global reach of YouTube to shine a light on the human stories that inspire us, make us smarter and demonstrate the potential of what we can achieve. Here’s a sneak peek of a new slate of shows that will not only engage and entertain, but also celebrate diverse and authentic voices:
- Will Smith: The Jump Off: In partnership with Westbrook Entertainment, Will Smith is going to epic heights in his new YouTube Original, “Will Smith: The Jump Off.” In this special, Will accepts the ultimate YouTube fan challenge to bungee jump from a helicopter—all to raise awareness for charity. The cameras will follow him as he prepares for the big jump, which we’ll livestream on his birthday.
- Priyanka Chopra: If I Could Tell You Just One Thing: From Sundog Pictures, Priyanka Chopra will go on a personal journey to meet the world’s most successful and inspirational people—each time asking them for advice they feel can change the world. From actors and politicians to religious leaders and environmentalists, star of the show Priyanka will speak with the people who will go down in history as having challenged the status quo.
- Jack Whitehall: Training Days: In this show, comedian and actor Jack Whitehall trains with the world’s most elite soccer players—and has a little behind-the-scenes fun in the process. Sponsored by Wendy’s in the U.S., “Training Days” is executive produced by James Corden and Fulwell 73 and will launch to fans around the world on Jack’s YouTube channel on May 9, ahead of the World Cup.
- Best Shot: Executive produced by LeBron James and Maverick Carter, “Best Shot” is a new documentary series following the Newark Central High School Blue Devils as they find community through basketball and receive mentorship from former NBA player Jay Williams. Directed by Michael John Warren and produced by SpringHill Entertainment and Boardwalk Pictures in association with Blue Ribbon Content, “Best Shot” will debut on the NBA YouTube channel this summer.
After generating significant viewership, we’re bringing back these audience favorites:
- Untitled Demi Lovato Project: In her new YouTube Original, Demi is returning to show fans a side of herself beyond her music to raise awareness about issues that matter. Demi will draw from personal experiences and passions to pay it forward to some of her biggest fans and closest friends. From Philymack Productions and London Alley.
- The Super Slow Show Season 2: In partnership with Rooster Teeth Productions, the Slow Mo Guys are returning with a renewed focus on science, technology, engineering and math. Through the lens of education, the Slow Mo Guys will explore the tiniest phenomena and greatest spectacles—all in slow motion.
- Kevin Hart: What the Fit Season 2: Kevin Hart is returning with even bigger punch lines and celebrity guests. In partnership with Lionsgate and Laugh Out Loud Network, this second season will raise more awareness of healthy living and wellness, as Kevin and his celebrity friends try out some of the most unique and outlandish workout routines.
In addition to the can’t-miss shows above, we’re also excited to announce we will be rolling out even more Artist Spotlight Stories—intimate and personal video portraits of music artists who are pushing the boundaries of creativity and connecting with fans in unique and powerful ways on YouTube. We will be partnering with artists, including Shawn Mendes, J Balvin, Janelle Monáe, and more, on Spotlight Stories this year.
Making even more top content accessible to advertisers
Every one of the shows outlined above will be available through Google Preferred—our premium content offering for advertisers—so that brands can continue to access some of the most popular stars and inspiring stories on YouTube. Year-over-year, we continue to see tremendous growth from Google Preferred. In fact, Google Preferred Lineups reach more 18-49 year-olds monthly than any cable network or full episode player.4
Today, we’re adding to that momentum. For the very first time, Google Preferred Lineups and Breakout Videos will include our complete music universe, including eligible VEVO channels and videos. This gives brands the unprecedented opportunity to advertise against virtually all music in the world, from fresh talent to the most popular music icons. Thank you to our partners at Sony Music, Universal Music Group and VEVO who have joined Warner Music Group and countless independent record labels to bring all of this exciting music to you.
We’re also focused on giving brands even more opportunities to advertise against some of the most influential live music events with Google Preferred and sponsorships. Once again, we are an official livestream partner of the Global Citizen Festival, and we will livestream shows from multiple cities around the world. And, we’re thrilled to announce we have renewed our exclusive livestream partnership with Coachella for an additional three years. The renewal will take YouTube through 2021, which will mark 11 consecutive years of a Coachella webcast on YouTube.
Beyond music, we are also launching a new product improvement to help advertisers reach audiences among some of YouTube’s most popular content. We’re adding new signals to enhance affinity segments on Google Preferred so advertisers can engage with the most relevant audience, creating a richer experience for brands and users alike.
Offering undivided attention and unmatched results
We’ve always believed that when you put the user first, great things will follow. By providing our audience with a home for immersive, engaging video content and our advertising partners new ways to reach their customers that are relevant and assistive, we can deliver greater impact for everyone. Looking across Nielsen Matched Panel Analysis (MPA) studies we’ve run to date, we see that over 70 percent of YouTube campaigns drove a significant lift on offline sales.5
We recognize the need to hold ourselves accountable with first- and third-party measurement tools. That’s why we’ve partnered with trusted experts, such as MOAT on viewability and Nielsen on reach, among others. And tonight we announced we’ll continue this work by extending sales lift measurement to Nielsen Catalina Solutions, soon giving advertisers a new option to measure the effectiveness of YouTube campaigns at moving products off the shelves.
Check out #Brandcast to see highlights from the night.
Kate Stanford, Head of Global Advertiser Marketing at YouTube, recently watched “WORLD RECORD – Longest Domino Line EVER!”
1YouTube Internal Data, Global, Accurate as of Jan 2018. Based on seven day average of watchtime for TV screen devices, which include smart TVs, Roku/Apple TV and game consoles
2Google Data, Global, April 2018
3YouTube Internal Data, Global, March 2018
4Google commissioned Nielsen custom fusion study. Desktop, mobile and TV fusion. TV measurement of all individual U.S. cable networks. Reach among person 18-49 (Live +7, one minute qualifier), television only, September 2017.
5Commissioned Nielsen Matched Panel Analyses – Base: 55 YouTube Campaigns from 2016-2017 across nine countries; count based on tested strategies with a lift based on a one-sided significance >80 percent
Facebook Live death highlights the risks of livestreaming
Facebook Live is great for capturing events as they happen. However, like any other live internet broadcast, it's becoming clear that there's also a dark side. Police have confirmed to the New York Times that Chicago man Antonio Perkins was shot to…
Engadget RSS Feed
Highlights from tonight’s YouTube Brandcast event: What’s next for Google Preferred
Tonight, YouTube hosted our fifth annual Brandcast in New York, our digital Newfronts event, where we showcase the best of YouTube to advertisers and agencies. With a little help from Big Bird, the Whip Nae Nae, and Sia, we showed that YouTube is where the world chooses to watch: on mobile alone, we now reach more 18-49 year-olds in the U.S. than any broadcast or cable TV network.1
As a result, our influence is greater than ever. In fact, nearly 60 percent of YouTube subscribers say they’d follow a YouTube creator’s advice on what to buy over that of their favorite TV or movie star. And the influence of YouTube stars continues to grow—last year, 6 in 10 of the most influential celebrities among teens were YouTubers, and this year that number jumped to 8 in 10.
To help brands capture some of this momentum, we have a premium content offering called Google Preferred that features creators like Lilly Singh, sWooZie and Laura Vitale. Organized into 13 lineup categories—including Comedy, Music, and Food & Recipes—Google Preferred is easy to buy and gives advertisers access to the most-loved and most-watched content on YouTube. In fact, Google Preferred reaches more people in the U.S. on mobile than all full episode players combined.2 And, we announced at Brandcast that Google Preferred just got better. Here’s how:
1. More Can’t-Miss Moments With Google Preferred Breakout Videos
Pop culture moments like the Harlem Shake and Let It Go are as unexpected as they are popular. While Google Preferred gives brands access to established creator channels, our new Breakout Videos offering lets them advertise on emerging content—the hottest and fastest-rising videos on YouTube. With the launch of Google Preferred Breakout Videos in the U.S., brands can be there alongside the next breakout star.
2. More Ease and Relevance with Programmatic Guaranteed for Google Preferred
To make it even easier to be there in the moment viewers are watching, upfront buyers will soon be able to execute their Google Preferred—and Breakout Videos—buy programmatically through DoubleClick Bid Manager. This means all video campaigns (including TrueView, Google Preferred, and cross-exchange) can be managed in one place.
3. More Sports Fans With NBA Highlights on Google Preferred
NBA Commissioner Adam Silver also took to the Brandcast stage to announce that NBA inventory is now part of Google Preferred. Top NBA highlights will surface in Google Search and on YouTube, offering brands access to the NBA’s loyal fan base across screens. In addition, the NBA will soon launch two new VR series on YouTube that give viewers a behind-the-scenes look at team arenas and their favorite players.
4. More Great Results for Brands
With new additions like Breakout Videos, Programmatic Guaranteed, and NBA highlights, Google Preferred will keep delivering massive reach, and strong results for brands.
Already this year, among the Google Preferred campaigns we measured, 75 percent drove lifts in consideration3 and 61 percent drove lifts in favorability.4 Google Preferred is driving results later in the consumer journey, too: it raised purchase intent in two-thirds of campaigns.5
Results like these have encouraged nearly twice the number of brands in the U.S. to take advantage of Google Preferred in the last year.6
Chime in with your Google Preferred questions and comments on #Brandcast, and check out six questions every brand should consider after Brandcast. We’ll post even more content after the show on the Brandcast website.
Kate Stanford, Head of Global Advertiser Marketing at YouTube, recently watched “Imagine the Possibilities.”
1Google-commissioned Nielsen study U.S., December 2015. Audience Reach among Persons 18-49 for YouTube (mobile only) and 124 individual U.S. cable and broadcast networks (television only).
2Google/Millward Brown Digital Google Preferred Mobile Clickstream Analysis US, October 2015 (Full episode players on mobile browser or app include: Netflix, HBO, Hulu, NBC, Fox, CBS, ABC, sourced from the 20,000 person Mobile Compete Clickstream Panel).
3Google Preferred Brand Lift Meta Analysis, 2015 and Q1 2016. Results for 242 US Google Preferred Consideration Studies.
4Google Preferred Brand Lift Meta Analysis, 2015 and Q1 2016. Results for 44 US Google Preferred Favorability Studies.
5Google Preferred Brand Lift Meta Analysis, 2015 and Q1 2016. Results for 80 US Google Preferred Purchase Intent studies.
6Google data, US, Q1 2016 vs Q1 2015.
Inhabitat’s Week in Green: Highlights from the Geneva Motor Show
The Geneva Motor Show kicked off this week, and one of the stars of the show was the Koenigsegg Regera, an insane plug-in hybrid with 1,500 horsepower. Meanwhile, Goodyear rolled out a crazy spherical tire that lets cars drive sideways and Nissan unv…
Engadget RSS Feed