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        GameSquare has launched FaZe Media, a new media company dedicated to the FaZe Clan IP, which has secured a USD 11 million investment. The funding round was led by Matt Kalish, president and co-founder of DraftKings. GameSquare will own 51% of the new company, while Kalish will own the remaining 49%.
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        The funds will be used to build the value of the FaZe brand, increase branding opportunities, host online events, and release new merchandise.
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        Kalish's investment will result in his joining the board of directors of FaZe Media, with FaZe clan founder Richard &quot;FaZe Banks&quot; Bengston serving as CEO of the new company.
      </p>
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    <a href="https://esportsinsider.com/2024/05/gamesquare-faze-media-launch-investment">
      EsportsInsider&nbsp;
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Creator Economy

PROMINENT_CATEGORY

<div>
 <p>GameSquare has announced the establishment of FaZe Media, a media company focused on FaZe Clan IP. The venture has secured an investment of USD 11 million, led by Matt Kalish, who is the president and co-founder of DraftKings. GameSquare will maintain majority ownership with a 51% stake, while Kalish will own the remaining 49%.</p>
 <p>The investment will contribute to the growth and enhancement of the FaZe brand, create new branding opportunities, facilitate the hosting of online events, and support the release of new merchandise.</p>
 <p>With his significant investment, Kalish will be joining the board of directors for FaZe Media. Additionally, the founder of FaZe clan, Richard "FaZe Banks" Bengston, will take up the position of CEO in the newly formed company.</p>
 
</div>

GameSquare subsidiary FaZe Media raises USD 11 million in private funding

ANALYST_QUICK_TAKE

INCUMBENTS_PRESENT

<div>
 <p>TikTok creators have filed a lawsuit against the US government following a federal law requiring Chinese owner ByteDance to sell its assets to a US company or be banned. This ban could drastically affect the financial situation of social media creators who earn a significant income and foster vibrant communities on TikTok. The creators involved in the lawsuit represent various backgrounds and unanimously stress the platform's importance for self-expression and community growth.</p>
 <p>The lawsuit stems from allegations around the app's security, privacy, and potential surveillance risks. ByteDance has filed an appeal in the US Court of Appeals against the ban, arguing that it violates American citizens' rights and freedom of speech.</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> The legislative push to potentially ban TikTok in the US, alongside legal challenges from content creators, highlights the multi-faceted implications of the ongoing debate surrounding the app. In <a href="https:<br>
//sp-edge.com/updates/27505"> early March, </a> the House of Representatives was poised to vote on a bill that could ban TikTok nationwide; the company argues that such a ban would harm the 5 million businesses that rely on the platform, highlighting the significant economic impact.</p>

TikTok content creators take legal action against US Government over ban

<div>
 <p>Rumble, a video-sharing platform, is suing Google for purportedly carrying out anticompetitive practices within its digital advertising business. The lawsuit is claiming over USD 1 billion in damages.</p>
 <p>The platform accuses Google of establishing a monopoly in the ad tech stack via the acquisition of companies. These companies represent both buyers and sellers in the digital advertising ecosystem. Rumble suggests this supposed monopoly enables Google to impose anticompetitive transaction fees and bind users to its platform.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> Rumble's lawsuit against Google for alleged anti-competitive digital advertising practices represents an ongoing battle between tech giants and smaller players in the industry. This lawsuit, along with <a href="https:<br>
//www.androidcentral.com/youtube-rival-rumble-accuses-google-unfair-practices-over-video-search-results"> Rumble's ongoing 2021 lawsuit against Google, </a> highlights concerns about monopolistic practices and unfair competition in the digital advertising market. To overcome these challenges, there needs to be increased scrutiny and regulation of Big Tech companies to ensure a level playing field for all participants.</p>

Rumble files USD 1 billion lawsuit against Google for anti-competitive digital advertising practices

<div>
 <p>Snapchat has collaborated with companies Billion Dollar Boy, Influencer, and The Goat Agency to create a service called Snap Star Collab Studio. This service will allow businesses to capitalize on the influence of creators on Snapchat.</p>
 <p>These new agency partnerships, alongside existing creator agency Whalar, will help facilitate connections between creators and brands for campaigns on Snapchat. The emphasis will be on Sponsored Stories, Snap Ads, and creator-first campaigns. The goal of this initiative is to boost authenticity and user engagement, while fostering brand loyalty.</p>
</div>

Snapchat partners with Billion Dollar Boy and Influencer to leverage creator influence

<div>
 <p>Google announces plans to shut down Google Podcasts by June 2024, and recommends users to shift their podcast subscriptions to YouTube Music. The platform is also allowing its users to download an OPML file of their subscriptions for use on another platform.</p>
 <p>YouTube Music, Google's recommended streaming platform, is designed to support audio-centric content such as podcasts. Notable features include an audio-visual podcast experience, advanced podcast recommendation algorithms, and an immersive listening environment.</p>
 <p>The tech giant states that integrating podcasts into YouTube will utilize the platform's proficiency in creating algorithms to provide curated content tailored to user preferences. Google also anticipates that the combination of audio and video can add a unique dimension to the podcast experience.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Google's decision to shut down Google Podcasts and promote <a href="https:<br>
//sp-edge.com/updates/16624"> YouTube as the primary platform in the podcasting landscape </a> is part of its broader strategy to consolidate its services and strengthen YouTube's position as a one-stop destination for multimedia content. In addition to streamlining Google's offerings, the move leverages YouTube's massive user base and existing infrastructure. It also aligns with Google's strategy to compete more effectively in the podcasting space by leveraging YouTube's existing strengths in video content and recommendation algorithms to attract and retain users.</p>

Google announces closure of Google Podcasts app, suggests transition to YouTube

<div>
 <p>Instagram is introducing major changes to its ranking system, aiming to prioritize content from small and original creators without additional costs. This is part of a drive to redistribute the platform's reach.</p>
 <p>Changes in the system include updating the ranking to increase the distribution of smaller creators' content and encouraging original content over reposts in recommendations. Additionally, reposted content will bear a label linking back to its original creator. The platform will also remove content aggregators from recommendations. Initially trialing content with a small audience, the revised algorithm will gradually extend its reach, gauging results based on engagement and performance.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Instagram's decision to revamp its ranking system to highlight content from smaller, original creators reflects a strategic shift toward encouraging a more diverse and inclusive content ecosystem. By prioritizing such content, Instagram aims to address <a href="https:<br>
//about.instagram.com/blog/announcements/equity-updates-what-weve-been-up-to-and-what-comes-next"> concerns raised by creators about disparities in reach and algorithmic biases </a> that favor larger accounts and reposted content. The move aligns with Instagram's broader strategy to increase user engagement and satisfaction by promoting authenticity and diversity on its platform.</p>

Instagram updates ranking system to boost smaller creators and original content

<div>
 <p>Meta is trialling a bonus program for creators on Threads, its text-only social media app. This exclusive program offers creators a chance to monetise their content if it achieves a certain number of views. Threads is targeted specifically to encourage user interaction and content creation. To comply with the program, creators' posts must be viewed at least 2,500 times according to Meta's guidelines. The initiative may also be widened to include Meta's Instagram users who have amassed a large following, to enhance user interaction and activity on Threads.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Meta's pilot of an invitation-only bonus program for creators on Threads represents a strategic move to incentivize creators through bonuses. It seeks to attract high-quality content and encourage creators to remain active on Threads. The initiative aligns with Meta's broader product strategy to expand its presence in the Creator Economy space and strengthen its platforms as hubs for content creation and community interaction.</p>

Meta tests bonus program for creators on Threads platform

<div>
 <p>NFT marketplace, Magic Eden, has introduced a new platform called Magic Eden's Runes Platform. This platform enables users to trade their assets for Bitcoin (BTC) and buy Runes and Ordinals using their Magic Eden wallets.</p>
 <p>The main features of Magic Eden's Runes Platform include the ability to exchange assets for BTC, purchase Runes and Ordinals, and use the swap view to specify the amount of BTC to be spent on buying Runes. The platform also supports Ethereum, Polygon, BTC, and Solana in the Magic Eden wallet.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Magic Eden's Runes Platform represents a strategic move by Magic Eden to expand its presence in the NFT market and strengthen its position in the BTC ecosystem. By allowing users to exchange assets for BTC and purchase Runes and Ordinals using their Magic Eden wallets, the platform not only improves the accessibility of BTC-based NFTs, but also demonstrates its focus on innovation and growth within the industry.</p>

Magic Eden launches BTC Runes platform ahead of schedule

<div>
 <p>Last month, SoundCloud implemented several updates including an interactive feature that allows users to engage with tracks uploaded on the platform. They also provided a new tool specifically designed for artists, plus a more efficient upload process for its users.</p>
 <p>The notable additions consist of a "like" option for comments, emojis to express reactions, filters for sorting comments, and an enhanced song upload tool for the artist's convenience. To promote higher levels of fan engagement, listeners are motivated to follow the individual whose link they have clicked on.</p>
 <p>SoundCloud believes that these enhancements will better the commenting experience, increase interaction with users, and ease the track uploading procedure for artists. The company also introduced a new search feature based on genres which will aid users in discovering and navigating through its extensive library of 375 million songs.</p>
</div>

SoundCloud introduces new interaction features and uploading tools for users

<div>
 <p>YouTube has launched new shopping functionalities permitting creators to curate and showcase collections of products on their videos for monetization purposes.</p>
 <p>The fresh features encompass Shopping Collections that enables creators to accumulate products from favoured brands for viewers to peruse. These collections can be themed, for instance, a daily makeup assortment or a set of outfit choices, and are presented in the creator's product listing, store tab, and video explanation. Another novelty is an affiliate hub that provides creators an avenue to the most recent partners, competitive commission rates, and promotional codes. Furthermore, creators can appeal for samples from high-profile brands via the hub. Additionally, YouTube is incorporating Fourthwall, a website construction tool helping creators to efficiently administer their content.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> YouTube's latest Shopping feature expansion, which builds on last year's <a href="https:<br>
//techcrunch.com/2023/10/18/youtubes-latest-features-aim-to-help-creators-make-more-money-from-shoppable-videos/"> bulk tagging capabilities, </a> represents a strategic move to empower creators further and increase monetization opportunities. By allowing all Shopping creators to quickly tag products across their entire video library based on descriptions, YouTube is streamlining the process of monetizing older content. This not only incentivizes creators to continue producing high-quality content but also reinforces YouTube's commitment to fostering a robust creator ecosystem.</p>

All Updates

GameSquare subsidiary FaZe Media raises USD 11 million in private funding

TikTok content creators take legal action against US Government over ban

Rumble files USD 1 billion lawsuit against Google for anti-competitive digital advertising practices

Snapchat partners with Billion Dollar Boy and Influencer to leverage creator influence

Google announces closure of Google Podcasts app, suggests transition to YouTube

Instagram updates ranking system to boost smaller creators and original content

Meta tests bonus program for creators on Threads platform

Magic Eden launches BTC Runes platform ahead of schedule

SoundCloud introduces new interaction features and uploading tools for users

YouTube launches new shopping features to boost creator monetization and engagement

Creator Economy

GameSquare subsidiary FaZe Media raises USD 11 million in private funding

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