Jonkman Microblog
  • Login
Show Navigation
  • Public

    • Public
    • Network
    • Groups
    • Popular
    • People

Notices tagged with surveillance, page 7

  1. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Friday, 14-Aug-2020 06:33:26 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    ● NEWS ● #TheHill #Surveillance ☞ #Facebook under fire over drilling equipment on the seafloor off the #Oregon coast: report https://thehill.com/policy/technology/511913-facebook-abandoned-drilling-equipment-on-the-seafloor-off-the-oregon-coast
    In conversation Friday, 14-Aug-2020 06:33:26 EDT from pleroma.site permalink

    Attachments

    1. Facebook under fire over drilling equipment on the seafloor off the Oregon coast: report
      from TheHill
      A Facebook subcontractor's efforts to install undersea fiber optic cables off the coast of Oregon resulted in an accident that forced the company to leave a sizable amount of drilling equipment on the sea floor.
  2. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Friday, 14-Aug-2020 05:43:23 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    The #LinuxFoundation and #ZDNet tell us that Facebook is “open” (because it pays for that #openwashing ); the Foundation’s love of mass surveillance and spin regarding such #surveillance is reaching new heights http://techrights.org/2020/08/14/openwashing-for-a-fee/
    In conversation Friday, 14-Aug-2020 05:43:23 EDT from pleroma.site permalink

    Attachments

    1. [Meme] Linux Foundation and ZDNet Openwashing Proprietary Mass Surveillance (for a Fee!)
      from Techrights
      The Linux Foundation and ZDNet tell us that Facebook is “open” (because it pays for that openwashing); the Foundation’s love of mass surveillance and spin regarding such surveillance is reaching new heights for the Foundation, clearly misusing the “Linux” brand, is rapidly becoming a leading voice
  3. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Friday, 14-Aug-2020 04:38:07 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    [Meme] #LinuxFoundation and #ZDNet #Openwashing Proprietary Mass #Surveillance (for a Fee!) http://techrights.org/2020/08/14/openwashing-for-a-fee/ #facebook
    In conversation Friday, 14-Aug-2020 04:38:07 EDT from pleroma.site permalink

    Attachments

    1. [Meme] Linux Foundation and ZDNet Openwashing Proprietary Mass Surveillance (for a Fee!)
      from Techrights
      The Linux Foundation and ZDNet tell us that Facebook is “open” (because it pays for that openwashing); the Foundation’s love of mass surveillance and spin regarding such surveillance is reaching new heights for the Foundation, clearly misusing the “Linux” brand, is rapidly becoming a leading voice
  4. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Thursday, 13-Aug-2020 18:27:19 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    #LinuxFoundation Broadens Relationship With #Surveillance http://www.tuxmachines.org/node/140953 #facebook #fb #Amundsen
    In conversation Thursday, 13-Aug-2020 18:27:19 EDT from pleroma.site permalink
  5. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Thursday, 13-Aug-2020 16:16:02 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    #linuxfoundation = #spyware / #surveillance https://www.fosslife.org/lf-ai-accepts-amundsen-incubation-project
    In conversation Thursday, 13-Aug-2020 16:16:02 EDT from pleroma.site permalink

    Attachments

    1. LF AI Accepts Amundsen as Incubation Project
      from FOSSlife
  6. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Thursday, 13-Aug-2020 16:05:47 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    Improve your security with two-factor authentication https://linuxnatives.net/2020/improve-your-security-with-two-factor-authentication that usually means engaging with #surveillance devices and back doors, lowering one's #security
    In conversation Thursday, 13-Aug-2020 16:05:47 EDT from pleroma.site permalink

    Attachments

    1. Improve your security with two-factor authentication - Linux-natives
      By eero from Linux-natives
      Improve your security with two-factor authentication
  7. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Thursday, 13-Aug-2020 13:15:40 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    #linuxfoundation is a voice for malicious #surveillance companies that need #openwashing https://www.linuxfoundation.org/blog/2020/08/facebooks-long-history-of-open-source-investments-deepens-with-platinum-level-linux-foundation-membership/ http://techrights.org/wiki/index.php/Linux_Foundation
    In conversation Thursday, 13-Aug-2020 13:15:40 EDT from pleroma.site permalink

    Attachments

    1. Facebook’s Long History of Open Source Investments Deepens with Platinum-level Linux Foundation Membership
      from The Linux Foundation
      Facebook’s sponsorship of open innovation through the Linux Foundation will help support the largest shared technology investment in history with an estimated $16B in development costs of the world’s 100+ leading open source projects and supports those project communities through governance, events and education.
  8. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Thursday, 13-Aug-2020 11:21:51 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    ● NEWS ● #TechDirt #surveillance ☞ #LasVegas #Police Are Running Lots Of Low Quality Images Through Their #FacialRecognition System https://www.techdirt.com/articles/20200810/17281545086/las-vegas-police-are-running-lots-low-quality-images-through-their-facial-recognition-system.shtml
    In conversation Thursday, 13-Aug-2020 11:21:51 EDT from pleroma.site permalink

    Attachments

    1. Las Vegas Police Are Running Lots Of Low Quality Images Through Their Facial Recognition System
      from Techdirt.
      Even when facial recognition software works well, it still performs pretty poorly. When algorithms aren't generating false positives, they're acting on the biases programmed into them, making it far more likely for minorities to be...
  9. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Thursday, 13-Aug-2020 11:05:31 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    Replacing one virus, #covid19 , with another, #surveillance monopolists https://fintechzoom.com/fintech-news-crypto/the-linux-foundation-wants-open-source-tech-to-address-future-pandemics/ see http://techrights.org/2020/07/21/stalin-dream/
    In conversation Thursday, 13-Aug-2020 11:05:31 EDT from pleroma.site permalink

    Attachments

    1. [Meme] Linux (or Linux Foundation) Rapidly Becoming 'Stalin's Dream'
      from Techrights
      The Linux Foundation‘s deep ties and collaborations with the surveillance industry (and Microsoft) continue to tighten
    2. The Linux Basis Needs Open-Supply Tech to Tackle Future Pandemics | Fintech Zoom - World Finance
      from Fintech News | Fintech Zoom
      The Linux Basis Needs Open-Supply Tech to Tackle Future Pandemics -
  10. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Thursday, 13-Aug-2020 05:08:39 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    ● NEWS ● #PrivateInternetAccess #Surveillance ☞ Court finds UK police use of facial recognition technology breaches #privacy rights, data protection laws and equality laws https://www.privateinternetaccess.com/blog/court-finds-uk-police-use-of-facial-recognition-technology-breaches-privacy-rights-data-protection-laws-and-equality-laws/
    In conversation Thursday, 13-Aug-2020 05:08:39 EDT from pleroma.site permalink

    Attachments

    1. Court finds UK police use of facial recognition technology breaches privacy rights, data protection laws and equality laws
      from Privacy News Online by Private Internet Access VPN
      Court finds UK police use of facial recognition technology breaches privacy rights, data protection laws and equality laws
  11. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Thursday, 13-Aug-2020 04:34:31 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    ● NEWS ● #Bloomberg #Surveillance ☞ #TikTok Signs Deal With Yankees Even as #Trump Threatens U.S. Ban https://www.bloomberg.com/news/articles/2020-08-12/tiktok-signs-deal-with-yankees-even-as-trump-threatens-u-s-ban
    In conversation Thursday, 13-Aug-2020 04:34:31 EDT from pleroma.site permalink
  12. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Thursday, 13-Aug-2020 04:34:03 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    ● NEWS ● #Bloomberg #Surveillance ☞ Apple’s $44 Billion #China Market Threatened by Trump #WeChat Ban https://www.bloomberg.com/news/articles/2020-08-12/apple-s-44-billion-china-market-threatened-by-trump-wechat-ban
    In conversation Thursday, 13-Aug-2020 04:34:03 EDT from pleroma.site permalink
  13. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Thursday, 13-Aug-2020 04:33:51 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    ● NEWS ● #Variety #Surveillance ☞ The Weekend Virtual Concert on #TikTok Drew Over 2M Viewers, Raised $350,000 for Equal Justice Initiative https://variety.com/2020/digital/news/the-weeknd-tiktok-virtual-concert-2-million-viewers-1234733104/
    In conversation Thursday, 13-Aug-2020 04:33:51 EDT from pleroma.site permalink

    Attachments

    1. The Weeknd Virtual Concert on TikTok Drew Over 2M Viewers, Raised $350,000 for Equal Justice Initiative
      By Todd Spangler from Variety

      TikTok, facing the looming threat of a U.S. ban or a forced sale by its parent company, continues to tout the massive reach of its video app.

      According to TikTok, The Weeknd’s live, interactive virtual concert that premiered Aug. 7 (with several rebroadcasts for international audiences through Aug. 10), pulled in more than 2 million total unique viewers. The event recorded 275,000 concurrent viewers at its peak, setting a new TikTok record, while videos that users shared with #TheWeekndEXP hashtag garnered more than 1.3 billion video views.

      In addition, “The Weeknd Experience” concert raised $350,000 for the Equal Justice Initiative through the sale of a new Weeknd x TikTok capsule collection of merchandise, which was available for a limited time. The Equal Justice Initiative is committed to ending mass incarceration in the U.S., challenging racial and economic injustice, and protecting human rights for the most vulnerable people in American society.

      The Weeknd appeared in digital-avatar form and played hits including “Blinding Lights,” and also performed a rendition of “In Your Eyes” with special guest Doja Cat. The concert followed a loose narrative, as The Weeknd led fans through a “hallucinatory XR dream world,” according to producers. During key moments of the broadcast, fans voted in the comments to guide the visual theme of the experience.

      “The Weeknd Experience” was created with Wave, an interactive virtual entertainment experiences startup, and presented by XO/Republic Records.

      “The Weeknd Experience transformed Abel’s music into an immersive and interactive world,” said Isabel Quinteros, TikTok senior manager of music partnerships and artist relations. “It’s so important to keep fans engaged and entertained with innovative music events during the pandemic, and I think the Experience did that while also serving as a ‘thank you’ from The Weeknd to the TikTok community for their support of his music.”

      According to TikTok, “Blinding Lights,” the second single from “After Hours,” has inspired over 1.5 million video creations on TikTok and spawning the “#BlindingLightsChallenge.”

      Last week, President Donald Trump issued an executive order that would outlaw business dealings with TikTok in the U.S. by Sept. 21 if parent company ByteDance does not sell TikTok’s U.S.-based business by then. Trump cited national security concerns for the ban, noting that Chinese authorities could demand ByteDance turn over TikTok user data. Microsoft said it was in talks about a TikTok acquisition.

  14. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Thursday, 13-Aug-2020 04:33:01 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    ● NEWS ● #Variety #Surveillance ☞ Inside #Verzuz ’s Collaboration With Apple and Twitter https://variety.com/2020/music/news/verzuz-dj-apple-jack-dorsey-twitter-1234730868/
    In conversation Thursday, 13-Aug-2020 04:33:01 EDT from pleroma.site permalink

    Attachments

    1. Inside Verzuz’s Collaboration With Apple and Twitter
      By Jem Aswad from Variety

      Verzuz — the popular DJ battle where artists like Snoop Dogg and DMX square off and showcase their hits in friendly competition while fans cheer on via social media — has upped its game via an intergration with Apple Music and Twitter, which not only lifts the series’ already high profile, it elevates the production quality and engagement.

      One of the quantifiable entertainment successes of the lockdown, the series — which pits one veteran hip-hop or R&B artist or producer against another — has drawn nearly half a million viewers per installment and many thousands of comments. The appeal for fans? Dissecting tunes they know intimately, recalling their time of discovery or simply rooting for the hotter track in real time.

      Launched in March by veteran producers Swizz Beatz (who has worked with artists including Jay-Z, DMX and his own wife, Alicia Keys) and Timbaland (Justin Timberlake, Missy Elliott, Jay-Z, Aaliyah), the series has rapidly grown into a franchise matching the likes of Kenneth “Babyface” Edmonds against Teddy Riley and Erykah Badu versus Jill Scott. While the concept had been percolating for a couple years and Swizz and Timbaland had squared off at festivals in the past, the pair — inspired by the popularity and good vibes of D-Nice’s DJ sets from home early in the pandemic — saw that Verzuz could ease the loneliness of isolation with its combination of sports-like competition, classic hits, nostalgia and social media conversation.

      It all started when Timbaland called out Swizz on Instagram. In response, Swizz told Variety earlier this year, “I loaded up my beat machine and called him out too. We went live and the audience went wild — talking to us, responding to the tracks.” But the subsequent competitions often suffered from technical difficulties and subpar sound — to say nothing of the potential licensing complication of broadcasting to half a million people music that has your name on it but you might not own. Teaming up with Apple, which is fully licensed, solves this problem.

      Competing streaming services saw opportunity, which led to a bidding war won by Apple Music, largely due to a strategic combination with Twitter, where much of the social conversation around the battles was taking place. After a pair of test runs, the integration launched officially in late July with the Snoop-DMX matchup. Apple Music’s Larry Jackson was the connector, bringing Twitter to the mix with Swizz and Timbaland — both of whom he’s known since his days as a label executive in the early 2000s. Exact terms of the deal were not disclosed.

      “I think Tim and Swizz were blown away by what we were able to offer — 1080p high-definition video and high-fidelity audio, coupled with something we’ve never done at Apple, which is the social-engagement interface,” Jackson tells Variety. “These kinds of broadcasts are usually a linear video stream with no social-chat engagement, and it was really important to figure out that element. So Jack [Dorsey, Twitter co-founder and CEO] opened up the coding, engineering and design teams at Twitter to help us integrate it into the live broadcast. You’re seeing the manifestation of that work now; with Snoop and DMX we had GIFs and emojis as part of the inline social element.”

      Twitter was eager to work with Verzuz because it’s “bringing two incredible artists together in conversation, through the music and around the music,” says Dorsey. “Twitter is the conversation layer on top of that, enabling fans to mix it up on their own and extend the discussion past the boundaries of the event time. It’s been amazing to see the conversation flow on Twitter leading up to a Verzuz battle and what goes down during and for days after.”

      Kayvon Beykpour, Twitter’s product lead, adds, “It’s so aligned with what excites us about the way Twitter is used. Even before the collaboration with Apple, the conversation around the battles was already taking place on Twitter, and the opportunity to work with Larry and the team to make the first and second screens come to life in one place, and fuse them together and make people feel like they were part of a larger conversation, was a dream come true.”

      While the series has been a boon for all involved, arguably the biggest winners are the competitors, who have seen the streaming numbers on their catalogs soar an average of 200% — more than 300% for some — with the boosts sustaining for several weeks, a source tells Variety. A prerequisite for competing is “at least 20 hits,” which makes the participants veterans, if not legends, but many have not had a major chart success in recent years.

      “This is the best idea for catalog [promotion] since I got involved in music streaming eight years ago,” Jackson says. “The only other thing I’ve seen that’s just as effective is something like the Grammys or the Super Bowl halftime show. Snoop’s [1993 debut album] ‘Doggystyle’ went into the Top 15 on iTunes after his Verzuz, from being completely off the charts, and ‘The Best of DMX’ went into the Top 20.”

      While the Apple integration has certainly strengthened Verzuz’s delivery, Jackson says he’s glad the company didn’t get involved earlier. “It took flight in a DIY kind of way, and we don’t need to push it to another level. It’s trending on its own without us marketing it, and I think if we protect the rough, understated nature of the battles, we can continue on with this for some time.”

  15. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Thursday, 13-Aug-2020 04:32:52 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    ● NEWS ● #Ibtimes #Surveillance ☞ #Facebook creates unit devoted to financial services https://www.ibtimes.co.uk/facebook-creates-unit-devoted-financial-services-1681821
    In conversation Thursday, 13-Aug-2020 04:32:52 EDT from pleroma.site permalink

    Attachments

    1. Facebook creates unit devoted to financial services
      from International Business Times UK
      Noting security concerns posed by Facebook's yet-to-be-launched digital currency Libra, the Federal Reserve last week revealed plans for its own instant payments system.
  16. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Thursday, 13-Aug-2020 04:21:02 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    #Canonical is Boosting #Microsoft 's #ProprietarySoftware With Extensive #Surveillance http://techrights.org/2020/08/13/canonical-is-boosting-microsofts-proprietary-software-with-extensive-surveillance/
    In conversation Thursday, 13-Aug-2020 04:21:02 EDT from pleroma.site permalink

    Attachments

    1. Canonical is Boosting Microsoft's Proprietary Software With Extensive Surveillance
      from Techrights
      Canonical’s commitment to Free software barely exists; with so-called “Apps” and “Snaps” and “Stores” we’re seeing a gradual transition to — and acceptance of — blobs and DRM, including Microsoft lock-in inside Ubuntu
  17. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Wednesday, 12-Aug-2020 17:32:03 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    This is insane! #linuxfoundation is now leading proponent of MASS #surveillance https://www.coindesk.com/the-linux-foundation-wants-open-source-tech-to-address-future-pandemics see http://techrights.org/2020/07/21/stalin-dream/
    In conversation Wednesday, 12-Aug-2020 17:32:03 EDT from pleroma.site permalink

    Attachments

    1. [Meme] Linux (or Linux Foundation) Rapidly Becoming 'Stalin's Dream'
      from Techrights
      The Linux Foundation‘s deep ties and collaborations with the surveillance industry (and Microsoft) continue to tighten
    2. The Linux Foundation Wants Open-Source Tech to Address Future Pandemics - CoinDesk
      from CoinDesk
      The Linux Foundation hopes open source apps will play a key role in tracing exposure to diseases like COVID-19 while being fully transparent.
  18. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Wednesday, 12-Aug-2020 13:57:15 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    ● NEWS ● #TechDirt #Surveillance #Privacy ☞ Congressional Reps Want To Know Why The #California #DMV Is Making $50 Million A Year Selling Driver Data https://www.techdirt.com/articles/20200806/19500745069/congressional-reps-want-to-know-why-california-dmv-is-making-50-million-year-selling-driver-data.shtml
    In conversation Wednesday, 12-Aug-2020 13:57:15 EDT from pleroma.site permalink

    Attachments

    1. Congressional Reps Want To Know Why The California DMV Is Making $50 Million A Year Selling Driver Data
      from Techdirt.
      Congressional legislators -- apparently caught off guard by one state's revenue stream -- are asking the California Department of Motor Vehicles a $50 million question: why the hell are you selling residents' personal data? A group of...
  19. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Wednesday, 12-Aug-2020 05:12:24 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    ● NEWS ● #PrivateInternetAccess #Privacy #Surveillance ☞ How the government legally tracks your smartphone use with the Anomaly Six SDK https://www.privateinternetaccess.com/blog/how-the-government-legally-tracks-your-smartphone-use-with-the-anomaly-six-sdk/
    In conversation Wednesday, 12-Aug-2020 05:12:24 EDT from pleroma.site permalink

    Attachments

    1. How the government legally tracks your smartphone use with the Anomaly Six SDK
      from Private Internet Access Blog
      How the government legally tracks your smartphone use with the Anomaly Six SDK
  20. Dr. Roy Schestowitz (罗伊) (schestowitz@pleroma.site)'s status on Wednesday, 12-Aug-2020 04:44:32 EDT Dr. Roy Schestowitz (罗伊) Dr. Roy Schestowitz (罗伊)
    • Dr. Roy Schestowitz (罗伊)
    ● NEWS ● #Variety #Surveillance ☞ #Tencent ’s #China Literature Crashes to $465 Million Loss https://variety.com/2020/biz/asia/tencent-china-literature-crashes-loss-1234731488/
    In conversation Wednesday, 12-Aug-2020 04:44:32 EDT from pleroma.site permalink

    Attachments

    1. Tencent’s China Literature Crashes to $465 Million Loss
      By Patrick Frater from Variety

      China Literature, which is both China’s leading online bookstore and owner of one of the country’s top TV producers, swung from profits of $55 million a year ago to net losses of $465 million in the six months to June. Revenues were up 10% to $461 million.

      The company, which is majority owned by social media and entertainment giant Tencent but is separately listed in Hong Kong, said that its financial performance was undermined by the impact of the coronavirus and by huge provisions at New Classics Media, the film and TV producer it bought in 2018.

      Its regulatory filing was a massive mea culpa, cataloging management failures across both business sectors. Earlier this year, China Literature faced a near revolt from authors worried by its planned changes at the online library. That prompted the sidelining of several senior managers and the parachuting in of Edward Cheng Wu, CEO of Tencent’s film business Tencent Pictures, in March.

      “The disappointing results made us realize that the lack of resilience of our underlying business model and our structural issues have piled up over the recent years,” said Cheng. “We are prepared to adopt a new culture and creative ideas from a more strategic and multi-dimensional perspective.”

      Cheng’s comments on the literature operations were abject. “We failed to take full care of our writer’s feelings and support our writers adequately through our incentive program, and some of our writers expressed concern about previous versions of the writer’s contract,” he said. “Last year, we launched our free reading app Feidu as a supplement to our paid reading products. The free-to-read reading product has strong influence in certain markets and over certain user groups, but Feidu’s overall performance failed to match the leading position the company enjoys in China’s online literature sector.”

      Revenues doubled to $281 for the group’s “self-owned platform products… primarily driven by the expansion of distribution channels and users’ growing willingness to pay for our reading content during the first half of 2020.” It claimed a 7.5% year-over-year increase in the number of monthly online users from 217 million to 233 million in the first half of 2020, and a 50% increase in average revenues per user. But the division dropped the ball with distribution of Tencent-owned products.

      Worse was to come in the IP division, which spans New Classics Media and sales of physical books. Both sides of its business were hurt by the various coronavirus lockdowns across China.

      “Due to the fluid and changing macro-environment and the outbreak of the COVID-19 epidemic, NCM’s production cycle for film and television projects has elongated and becomes less predictable,” China Literature said.

      The company booked $622 million of impairment losses relating to the October 2018 acquisition of New Classics Media. These were offset to the tune of $175 million by earn out payments that it will not now have to make. Other long-term investments needed a further $35 million of impairment charges.

      Remedies to change the corporate culture are now under way, Cheng says. “First, we will strengthen our core business through enhancing IP incubation capability, strengthening fundamentals, and speeding up cross-sector development to accelerate our IP development. Second, we will improve the social and community features of the platform and establish a stronger connection between China Literature’s products and the Tencent portfolio. Finally, we will introduce enhancements to our IP-centric ecosystem, leveraging our high-quality IP to build business partnerships and networks in content segments including comics, animation, TV series, film, and games,” the company statement said.

      The poor performance of China Literature stands in contrast to the trajectory of Tencent, which is one of China’s most admired companies. Tencent saw its shares reach an all-time high a week ago, before being hit by Donald Trump’s executive order against its WeChat product in the U.S.

      Tencent is scheduled to report its own second quarter results on Wednesday evening Hong Kong time.

      China Literature shares were down 3.2% on Tuesday to HK$50.6 apiece. Tencent Holdings regained some recently lost ground, with a 2.3% gain to HK$513.5, valuing the giant at some $630 billion (HK$4.92 trillion).

  • After
  • Before
  • Help
  • About
  • FAQ
  • TOS
  • Privacy
  • Source
  • Version
  • Contact

Jonkman Microblog is a social network, courtesy of SOBAC Microcomputer Services. It runs on GNU social, version 1.2.0-beta5, available under the GNU Affero General Public License.

Creative Commons Attribution 3.0 All Jonkman Microblog content and data are available under the Creative Commons Attribution 3.0 license.

Switch to desktop site layout.