Your guide to what’s happening this week in the media, entertainment and technology industry.
Sky senior execs set to pocket six-figure bonuses
A bidding war for control over the UK broadcaster has driven up the value of Sky’s shares. According to the Telegraph, around 700 executives are expected to pocket bonuses worth an average of £500,000 each. The bonus scheme is linked with the company’s performance targets and are thought to include on-screen stars as well as seniors within the industry.
Instagram launches long-form videos
In a move to lure the YouTube generation of video creators, Instagram has announced it will extend its video time limit from one minute to 10 minutes. According to The Guardian, the time length of the video will increase with the number of followers on the account, in some instances users could have the opportunity to post a video as long as an hour. Facebook bought Instagram for $1 billion six years ago, now has one billion users, up from 800 million nine months ago.
Disney outbids Comcast
The bid from Walt Disney to acquire 21st Century Fox was raised to $71.3 billion in cash and stock outbidding Comcast. coming in at a share price of $38, which was $10 higher than what Disney proposed in December. According to the Wall Street Journal, Disney agreed to pay Fox shareholders roughly 50% in cash and 50% in stock.
Microsoft drops VR from its pipeline
In 2016 Microsoft announced its Xbox console would have the capability to deliver “high-fidelity virtual reality”, reported BBC. Microsoft has taken back any plans to integrate VR into its Xbox console likely due to the slow pace of adoption. Microsoft Chief Marketing Officer for Gaming Mike Nichols said: “We don’t have any plans specific to Xbox consoles in virtual reality or mixed reality.”
Virgin Media introduces Netflix bill
From October this year, Virgin Media customers will be able to add Netflix to their account via a single bill. Broadband TV News reported the integration will enable content discovery experiences including “Smart Search” to Netflix programmes and movies within the Virgin TV platform.
Huawei threat to Australian national security?
Chinese telco Huawei has “aggressively” hit back at allegations that its involvement in the construction of 5G wireless networks in Australia is a threat to the national security, reported the Australia Financial Review. Huawei claimed the criticism is “ill-informed and not based on facts.”
Sports rise set to surge in APAC
Sports media rights in the Asia Pacific region (excluding China) are predicted to hit $5 billion this year, representing a rise of 22% from spending in 2017. According to Rapid TV, the Fifa World Cup has led the drive as well as the demand for digital right and market growth in India and Australia.
BBC to stream Wimbledon in 4K HDR
Following the successful trial of the World Cup matches screened via iPlayer using next-generation TV technology, the Wimbledon Championships tennis tournament will be streamed to UK viewers in 4K and high dynamic resolution (HDR) reported the BBC. The reaction on social media has been largely positive with few concerns into delayed sound and “dull” picture quality.