VOLUME 43

This week, we have some big money moves to share in both the tech and media industry such as the NBA’s new $76 billion dollar deal and the highly buzzed unveiling of Apple’s new artificial intelligence.

Stay tuned below if you want to be kept in the loop, and as always, thanks for reading!

— Jacob Pace

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NBA Nears Closing of $76 Billion Media Rights Deal

In their biggest deal yet, the NBA is in the process of finalizing media rights deals with NBC, ESPN, and Amazon, in a partnership that is projected to generate approximately $76 billion over 11 years.

For context, the NBA's current deal, signed in 2014, was valued at $24 billion over nine years, averaging about $2.6 billion annually​.

If you’re at all curious, here’s how the media partners will each pay the NBA out:

• ESPN: $2.6 billion annually

• NBC: $2.5 billion annually

• Amazon: $1.8 billion annually

Each of the partners will cover various aspects of regular-season and playoff games as part of the licensing deal.

In a world where it feels like we’re seeing a lot of budget cuts in the media landscape, it’s awesome to see such great growth in the sports space.

Where my basketball fans at?

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BeReal Acquired by Voodoo for €500 Million

Well apparently it was time for BeReal to BeAcquired 🥁

Anyone? Anyone? Ok. Let’s keep this train moving.

BeReal, the buzzing social media app that took the world by storm in 2022, has been acquired by French mobile games publisher Voodoo for €500 million (approximately $537.23 million).

I don’t know about you all, but I remember a time when it felt like I couldn’t escape the BeReal hype. Though hot at the time, I anticipated this hype train would eventually come to an end, either through the closure of the app or an acquisition like the one we just saw. I didn’t really see them going the distance; it just didn’t feel like there was much to the app other than its fleeting novelty.

But hey, respect for growing such a large community and securing the acquisition!

And some additional key points to take us home:

• Voodoo claims BeReal currently has over 40 million monthly active users.

• BeReal founder and CEO Alexis Barreyat is stepping down, to be replaced by Aymeric Roffé, CEO of Voodoo-owned Wizz.

• Voodoo plans to increase user experience and engagement within the app by potentially integrating gaming elements and other interactive features.

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Apple Unveils Apple Intelligence for Enhanced User Experience

For once in a long time, Apple has finally announced some new features that people are excited about.

At their annual Worldwide Developers Conference (WWDC) recently, the company introduced Apple Intelligence, an advanced personal intelligence system integrated into iOS 18, iPadOS 18, and macOS Sequoia.

This system leverages generative AI models for improved user experience, offering features such as the following:

• Tools for rewriting, proofreading, and summarizing text.

• A creative platform for generating images based on themes and descriptions.

• The ability to create personalized emojis.

A lot of people speculated that Microsoft beat Apple to the punch in the AI wars with their $13 billion dollar investment into OpenAI, but it seems Apple is also making some really impressive moves. I will always be an Apple person, but I do think Microsoft has an opportunity in the AI wars to gain the upper hand due to their head start with OpenAI.

If you want to see the full video from the WWDC, check it out here.

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Twitch Announces DJ Revenue-Sharing Program

As we all know, music and social media platforms have had a complicated past.

Well, in response to that, Amazon-owned live streaming platform Twitch has unveiled a a new program that will allow DJs to use copyrighted music by paying a fee.

The streaming giant has partnered with major labels such as Universal Music Group, Warner Music Group, and Sony Music, as well as numerous independent labels.

For the first year of this program, Twitch will subsidize 100% of the rights costs for participating DJs, and will also be launching a new ‘DJ Category’ on the platform. I think this really signals Twitch’s commitment to empowering creators on the platform, and that they are here to stay with the roll out their new programs and features. You can read the full post on Twitch’s website here.

All in all, it’s an exciting time to be a creator, or entrepreneur... or DJ!