WASHINGTON/SAN FRANCISCO (Reuters) – Facebook Inc shares posted their biggest daily gain in nearly two years on Tuesday as Chief Executive Mark Zuckerberg fended off questions from U.S. senators on how the world’s largest social network might be regulated more closely.
Spotify’s got something big up its sleeve, that much we know for sure. The music streaming service has a big event in the works for April 24 in New York — though it hasn’t really offered up anything useful beyond that. A revamped version of the company’s free tier could certainly make sense for the event.
A new report from Bloomberg suggests that such a thing is on the way, as the company looks to make big moves after going public. According to the piece, the new version of the app will make it easier for users to use the ad-supported service on mobile devices. There’s not a lot of information beyond that, however — including how Spotify would continue to differentiate a paid tier in order to keep premium subscribers on-board.
Of course, the free offering is one of the key elements differentiating the service from competition like Apple Music. It hasn’t been the most popular feature among record labels and artists, for obvious reasons, but it’s helped Spotify maintain a healthy lead in the category. Last month, Apple Music announced that it was continuing to grow at a healthy rate, with 38 million subscribers.
That number is dwarfed, however, by Spotify’s 71 million subscribers — and doubly so by its total 159 million users. Clearly the multi-tiered strategy has been a winning one for the Swedish music service, and recommitting to free would demonstrate that the service is still interested in the other 88 million.
We reached out to Spotify, but received a “no comment” on the matter. Same for another recent story suggesting that the company is planning to release a standalone in-car player, which surfaced as users began to receive offers for a new piece of Spotify hardware designed to bring the music service to older model cars.
NEW YORK (Reuters) – The Dubai-based cryptocurrency firm Alibabacoin Foundation on Tuesday said Alibaba Group Holding Ltd cannot monopolize the “magical” Alibaba name, and asked a U.S. judge to dismiss the Chinese e-commerce retailer’s trademark lawsuit.
While many of us in the tech world are familiar with Facebook’s business model, there is a common misconception among people that Facebook collects information about you and then sells that information to advertisers.
Zuckerberg wants everyone (especially the U.S. Senate) to know that’s not the case, and has laid forth the most simple example to explain it.
During his testimony, the Facebook CEO clarified to Senator John Cornyn that Facebook does not sell data.
There is a very common misconception that we sell data to advertisers, and we do not sell data to advertisers. What we allow is for advertisers to tell us who they want to reach and then we do the placement. So, if an advertiser comes to us and says, ‘Alright, I’m a ski shop and I want to sell skis to women,’ then we might have some sense because people shared skiing related content or said they were interested in that. They shared whether they’re a woman. And then we can show the ads to the right people without that data ever changing hands and going to the advertiser. That’s a very fundamental part of how our model works and something that is often misunderstood.
While, again, this may seem straightforward to many of us, Zuckerberg found himself having to explain more than once that Facebook does not sell data during his Senate testimony.
WASHINGTON (Reuters) – U.S. President Donald Trump’s homeland security adviser, Tom Bossert, has resigned at the request of new national security adviser John Bolton, an administration official said on Tuesday, marking the latest departure from the White House of a senior adviser.
LOS ANGELES (Reuters) – Isaac Asimov’s influential “Foundation” science fiction novels about the collapse and resurgence of a galactic empire are heading to Apple Inc as a television drama series, a company spokeswoman said on Tuesday.