The 11th Hour Dispatch – Monday, May 14, 2018

| May 14, 2018

Subscribe to The 11th Hour Dispatch, Karma’s new anti-newsletter newsletter.

BINGE WATCH

Today in “Oh Yikes,” Bernstein Research analyst Todd Juenger has reported that YouTube TV is losing approximately $60 million a year and has “no obvious path to profitability.” After performing a very scientific sounding “speculative yet transparent mathematical exercise,” Juenger came to the conclusion that the service loses $5 for every customer. Parent company Alphabet has yet to reveal subscriber numbers publicly, but Business Insider estimates that it’s around 300K. If YouTube TV truly has no plan in line to avert this wad of cash burning before us (if that’s the case), it will be interesting to see where the service ends up, especially as it continues to attempt to compete with other streaming services with its own originals and expansions of offered channels.

YOUNG MONEY

What a great idea! What could go wrong? Facebook might be working on its own cryptocurrency. The company has set up a new blockchain division, which will be led by former head of Facebook Messenger David Marcus. Marcus confirmed his role on both Facebook and Twitter and mentioned that he will be setting up the division “from scratch” to figure out how to best fit the technology into Facebook’s operations. While a blockchain operation doesn’t necessarily indicate cryptocurrency, it would make sense. The self-proclaimed “cryptogeek” leading the effort was an early investor in Bitcoin and sits on Coinbase’s board. A Facebook-specific cryptocurrency would also make a lot of sense for its operations surrounding advertisers. Not only could it allow advertisers to easily pay for spots, it could allow Facebook users to directly purchase through ads with a FB coin. Keep an eye on this. I’m sure it will be hard not to because we can’t go a day without seeing Zuckerberg’s stare on our timelines.

BIG BUSINESS

TiVo’s Bolt, Roamio, and Premiere DVRs are getting Amazon Alexa functionalities. The company announced that its products will receive a software update by June 1 that will add the voice service that is always listening (I don’t care what they tell you). Users will be able to change channels, adjust volume, skip commercials, and rewind or fast-forward content by simply yelling at the box under their TV. 

NOTHIN’ BUT ‘NET

Brooklyn Nine Nine has found a new home at NBC after its Fox cancellation. 

Want more news like this? Subscribe to The 11th Hour Dispatch to get the newsletter you want, need, and deserve in your inbox every night.