The Pace Report Vol. 20

FazeWorld, a studio known for viral TikTok shows, has raised $750,000 in seed funding at a $7.5 million valuation. This investment, led by notable figures like UTA CEO Jeremy Zimmer and others, emphasizes the growing interest in short-form video content among younger audiences.

FazeWorld focuses on creating high-quality content for digital platforms like TikTok, Instagram, and YouTube on modest budgets. Its business model includes sponsorships, merchandising, licensing, and a content studio for brands. Already profitable, FazeWorld's shows have garnered millions of views, and their slate includes a variety of upcoming projects. The development further reflects a larger shift from traditional TV to digital platforms for news and entertainment.

Twitch, the popular game streaming service owned by Amazon, has announced it will shut down its operations in South Korea due to unsustainable operating costs. The decision, set to take effect on February 27, 2024, is primarily driven by network fees in South Korea being exceptionally high—ten times more than what Twitch pays in other countries. This has led to significant financial losses for the company in the region.

The closure of Twitch in South Korea is a major development, considering the country's vibrant esports scene and widespread use of online gaming. This move is expected to have a considerable impact on both local content creators and their audiences. In response, Twitch has stated it will assist Korean streamers in finding alternative live streaming services within the country, easing their transition amid these changes.

In a remarkable blend of art and marketing, Netflix recently orchestrated an innovative campaign for its film "Leave the World Behind." In major cities around the globe, passersby were captivated by a series of animatronic deer, an enigmatic but integral part of the movie's thematic fabric. These lifelike installations not only grabbed attention but also deeply resonated with the film's underlying message.

The deer represent the increasing panic and chaos as the story progresses. Over time, their behavior changes from peaceful to more aggressive, reflecting the escalating apocalyptic scenario. This symbolism aligns with the movie's theme of nature reacting to a disaster and serves as a warning sign for the characters.

Google plans to revise its cryptocurrency advertising policy, signaling a significant shift in the digital advertising sphere. This update, acknowledging the growing influence of cryptocurrencies, will allow ads for Cryptocurrency Coin Trusts in the U.S. The move aligns with the potential approval of Bitcoin ETFs, reflecting cryptocurrencies' integration into mainstream financial markets.

Advertisers must be Google-certified and adhere to local legal standards. The policy change is expected to take effect on January 29, 2024.