iWorld
Bonnier Broadcasting & Ericsson collaborate for OTT & SVOD services
NEW DELHI: Telecom network Ericsson will supply online video platform to the over-the-top (OTT) and live TV subscription video-on-demand (SVOD) service of Bonnier Broadcasting.
The multi-year deal will see Ericsson provide a number of managed services including content management and preparation, digital rights management, subscriber management and billing and advertising insertion for multiple devices and platforms.
The Nordic next-generation online TV services will launch later this year. From launch, Bonnier Group content – including a mix of sports, local and international drama series, sitcoms and Swedish and international feature films – will be available both on-demand and live. Multiple platforms will be supported, including the web, iOS and Android devices.
Ericsson Broadcasting and Media Services Head Thorsten Sauer said, “Our long-running relationship with TV4 for their linear channels has now been extended to a business transformation that encompasses on-demand and live services across platforms. Consumers want access to content anytime, anywhere and on any device, which is something TV4 is providing through its platform agnostic strategy. Ericsson is the partner in this transformation and our Ericsson Managed Player is designed to help our clients meet the needs of their audiences in this ever-changing landscape.”
Ericsson’s Managed Player masters the combination of OTT delivery and playout to deliver content to consumers. Ericsson Mediaroom Reach, a scalable adaptive bitrate-based technology platform for intelligent OTT video delivery to cross-platform connected devices, powers it.
Bonnier Group’s TV4 selected Ericsson in 2009 to manage their technical operations end-to-end as part of a 10-year contract. In addition, Ericsson and TV4 established a joint technology and business development forum, where the two companies evaluate new business opportunities.
iWorld
Snapchat parent Snap cuts 16 per cent of workforce in AI-driven restructuring
The Snapchat parent is axing around 1,000 jobs and closing 300 open roles to save $500m, as artificial intelligence makes smaller teams the new normal
CALIFORNIA: Snap is snapping. The Snapchat parent has confirmed plans to cut around 1,000 employees, roughly 16 per cent of its full-time workforce, as it bets that artificial intelligence can do what headcount once required. Shares jumped more than 10 per cent in premarket trading on the news, a brisk vote of confidence from a market that has watched the stock shed about 31 per cent this year.
The restructuring, which also closes more than 300 open roles, follows pressure from activist investor Irenic Capital Management, which holds an economic interest of about 2.5 per cent in the company and has been loudly pushing Snap to tighten its portfolio and lift performance. The firm got what it asked for, and then some.
Chief executive Evan Spiegel told employees the cuts would reduce annualised expenses by more than $500m by the second half of the year. The company expects to incur charges of between $95m and $130m related to the layoffs, mostly severance, with the bulk landing in the second quarter. Staff in Snap’s North America team were asked to work from home on the day of the announcement.
The financial backdrop is not without bright spots. Snap expects first-quarter revenue to rise around 12 per cent to approximately $1.53 billion, broadly in line with analyst estimates. Adjusted core profit for the January to March quarter is forecast at about $233m, comfortably ahead of Wall Street’s expectation of $186.8m.
The harder question surrounds Specs, Snap’s augmented reality smart glasses subsidiary, which Irenic has urged the company to spin off or shut down entirely. The unit has absorbed more than $3.5 billion in investment and burns through approximately $500m in cash annually. Snap is pressing ahead regardless, with a consumer product expected later this year, even as Meta leads the market in the segment.
Spiegel is betting that leaner teams, smarter machines and a consumer AR play can restore Snap’s credibility with investors who have run out of patience. The redundancy notices have gone out. The harder restructuring, the one that requires a hit product rather than a headcount reduction, is still very much pending.
