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TL;DR

In a hurry? Here's our pick of the top news items of the week.

  • 36% of Americans believe content on SVOD platforms isn’t worth the money, and SVODs may be nearing the limit for what they can charge. (Deloitte)

  • Snapchat is launching filters as an ad offering, with brands now able to sponsor AR filters in the app that users can then add to their posts. (Social Media Today)

  • The UN General Assembly adopted a landmark resolution on the promotion of “safe, secure and trustworthy” AI systems that will also benefit sustainable development for all. (UN)

  • At least 10 music festivals in the US have been canceled this year, amid a growing number of budget-conscious consumers and rising costs for staffing, stages and performers. (Bloomberg)

Audiences

  • 23% of Americans aged 18-29 identify as die-hard sports fans, compared with 35% who aren’t fans at all and 42% who are fans in social settings. (Morning Brew)

  • Almost half (47%) of American Gen Zs and a third of millennials say their favorite form of video content is social media videos and live streams. (Deloitte)

  • Over half of Americans aged 18-29 support a sports team outside the place they grew up (54%) or the place they currently live (64%). (Morning Brew)

  • US children and teen video viewers watch YouTube the most of any video platform. (eMarketer)

Platforms

  • Instagram launched its new “Ads with Promo Codes” option for all brands globally. (Social Media Today)

  • Paramount+ will launch its ad-supported tier in Canada and Australia this year, priced at C$6.99 and $6.99 AUD per month, respectively. The streamer will also begin rolling out its “Premium Plan” in Europe. (THR)

  • Meta offered to drop the price of an ad-free subscription in the EU, which is currently the only way regional users of its social networks can avoid its tracking and profiling. (Tech Crunch)

  • TikTok has launched the Creator Rewards Program, which incentivizes longer uploads. (Social Media Today)

Content

  • "Taylor Swift: The Eras Tour" broke records on Disney+ with 4.6M views, making it the No. 1 music film ever on the platform. (Deadline)

  • There were 873 fictional series produced for broadcast and streaming platforms in Europe in 2022, up from 775 in 2021 and a new record. (THR)

  • From April to June, Dreamworks’ "Shrek 2" and Sony’s live-action Spider-Man movies are set to return to theaters. (Gizmodo)

  • Amazon has signed a deal with the YouTube star known as MrBeast to produce a reality competition series for Prime Video. (Variety)

Tech & AI

  • Tennessee became the first US state to pass a law, the Ensuring Likeness Voice and Image Security (ELVIS) Act, protecting musicians from AI. (Yahoo)

  • Microsoft debuted the first Surface PCs with a dedicated Copilot button for quickly accessing the AI tool. (CNBC)

  • To make trying out VR more affordable, Meta dropped the price of its Meta Quest 2 to $199. (Engadget)

  • The US Justice Department joined 15 states and Washington, DC, in suing Apple over allegedly monopolistic practices. (Tech Brew)

Location-based entertainment

  • Tasmania launched its Australian rules football team, with 100K people immediately joining as founding members – one-fifth of the population. (Pulse Tasmania)

  • IMAX plans to open over 40 new screens in Australia over the next 5 years, a substantial increase from the current 2 screens. (Screenhub)

  • D23: The Ultimate Disney Fan Event, formerly known as the D23 Expo, will take place August 4th–11th in Anaheim, CA, with tickets starting at $99. (KTLA)

  • Amid an awakening around flaws in the ticket sale system, Maryland proposed a bill that would make it illegal for resale companies like StubHub and SeatGeek to charge sneaky, sky-high fees. (Axios)

Travel & hospitality

  • Since the No. 1 reason why people of all generations want to travel this year is to rest and recharge, Hilton is hosting Sleep Retreats at Grand Wailea, with the potential to expand to additional markets in the coming months. (Hilton)

  • Given that people are now spending twice as much on their dogs as they did a decade ago, hotels are increasingly rolling out dog-friendly offerings. (New York Times)

  • Azerai unveiled immersive experiences designed to connect guests with the heart and soul of Vietnam. (Travmedia)

  • As consumer habits evolve, 39% of restaurants plan to use more environmentally sustainable sourcing and operations to stay competitive this year. (SquareUp)

Gaming

  • Margot Robbie's production company will adapt The Sims into a movie. (Gamingindustrybiz)

  • Epic Games confirmed it's adding hyperrealistic Meta Humans to Unreal Editor on Fortnite at GDC. (The Verge)

  • Leaked details of the PS5 Pro suggest there is a big mid-generation jump in technical capabilities. (TechRadar)

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