Facebook’s new class of apps expand the social vocabulary
Time was when “liking” something on Facebook was the standard way to recommend something on the social network.
Now Facebook users will have a whole new vocabulary at their disposal so they can tell friends they “want” tickets to an upcoming rock concert, they are “cooking” a certain dish or that they “ran” five miles in the park after work.
On Wednesday evening, Facebook announced the availability of more than 60 third-party appsthat can be integrated directly into Facebook, including apps from Ticketmaster, Airbnb, Foodspotting and Pinterest. Facebook also said that any software developer can now create their own such specialized apps for Facebook integration and submit the app to Facebook for approval.
Once you begin using one of these apps, your interactions within the app – say clicking on a dish you see in Foodspotting to note that you have “tried” it – are broadcast to the Facebook “ticker” for all your friends to see. The apps are also integrated into each user’s Timeline – the revamped version of a user’s personal profile page that Facebook has been gradually rolling out to its more than 800 million users. Now when you visit a friend’s Timeline, for instance, you might see a special section showcasing the top movies they’ve indicated that they want to see on the Rotten Tomatoes app, or the latest hotel reviews they’ve written with the TripAdvisor app.
The new apps are part of the so-called open graph feature that Facebook rolled out at its developer conference in September. The initial open graph rollout focused on integrating media apps from partners such as Spotify and Yahoo into Facebook, allowing users to notify friends of the music they were listening to, the news articles they were reading and the videos they were watching.
With the latest move, Facebook has opened itself up to a broader world of activity that can relate to just about anything an app-maker can think of. Among the initial third-party apps are ones that involve travel, food, fashion and fitness.
It’s a good bet that there will soon be open graph apps in even more categories, now that Facebook has opened the doors and effectively given software developers carte blancheto go wild (so long as the apps adhere to Facebook’s basic terms of service, of course).
TodayInMusic: Live Nation snaps up rest of Front Line
Lots of medium-sized developments at Live Nation Entertainment today.
Firstly, the world’s largest concert promoter and leading ticketing company has taken full control of Front Line Management after spending $116.2 milion to buy the remaining stake it did not already own.
That stake was held by Live Nation’s executive chairman Irving Azoff and Madison Square Garden. It means Azoff has an increased position in the company, as does MSG. Front Line was founded by Azoff and manages over 250 artists including The Eagles, Christina Aguilera and Neil Diamond.
Other important changes at Live Nation include interim non-executive chairman John Malone stepping down from the board. You might recall he became interim chair after fellow media mogul Barry Diller stepped down as chairman last fall after a boardroom power struggle.
Malone, who is chairman of Liberty Media, is effectively being replaced by Liberty Media CEO Greg Maffei, who has also been named head of the Live Nation’s newly-formed executive committee.
Meanwhile, Liberty Media has increased its stake in the business and made a commitment to buy more shares subject to shareholder approval.
And Azoff is now taking over as chairman of the Live Nation board while he continues to run Front Line.
Is Comcast really the Worst Company In America? Really?
So Comcast ‘won’ the Worst Company In America award from readers of The Consumerist blog, which as its tagline suggests, is the place where “shoppers bite back”. Yet we have to ask, is Comcast really the worst company in America or is it all relative?
The Consumerist’s readers are likely to have contact with Comcast through its customer service. They, like many, have likely been frustrated with waiting for hours for a technician (sleeping or awake). Or maybe it’s taken Comcast a day or two too long to fix their high-definition DVR boxes?
Fairly or unfairly, Comcast’s reputation had gotten so bad the company took the opportunity of a new product launch to change its customer-facing name to Xfinity. But it’s not just customer service. Consumerist’s readers have also been ticked off by what they see as above-inflation price rises, throttling Internet access, and Comcast’s plans to buy NBC Universal.
Depending on your view, some of these are clearly not customer-friendly business practices (for the others we’ll let regulators decide). Yet how does the biggest U.S. cable company compare with some of the other top companies that have had a tough time in the reputation stakes in recent months?
Take Bank of America, which incidentally made the final four on the Consumerist list. Some readers of the blog were disappointed this behemoth of Charlotte didn’t run away with the award the same way it did with taxpayers’ bailout dollars while also having to foreclose on those same consumers’ homes. As one Consumerist reader puts it: “I still think BOA was robbed. Which is ironic.”
Or the No.1 live concert ticketing company, Ticketmaster (now part of Live Nation Entertainment), whose notoriety has been earned with customer-friendly tactics like the ’convenience fee’ of using your own printer to print the ticket you’ve just paid for. Consumerist readers saw it as more of a monopoly in ticketing than any cable company.
And the biggest car company Toyota? They’ve had a tough time too with the faulty accelerators. troublesome floormats and endless numbers of recalls. Their products allegedly killed people yet Toyota is still not the worst company in America. Or maybe it’s because the top man apologized to Congress.
We had Comcast for internet cable. We had problems with connectivity from the beginning. Finally after 8 months, they came in and changed out the box. It turned out they had installed old and apparently defective equipment. Next we found out we could get the same service from AT&T for less than half the price. We swithched and when the technician came in to hook us up he said that our “new” Comcast box was really old. Of course the AT&T cable service has worked perfectly and much more quickly. Now we are trying to return the box to Comcast, but can’t find the location to return it. The original address is no longer a Comcast location and their phone numbers are unlisted. Worst company in America? I don’t know, but not one I want to waste my time with.
from Shop Talk:
Check Out Line: Duke wins, but there’s another bracket to fill
Check out a different kind of tournament bracket still underway.
The Duke Blue Devils may have won yet another college basketball title Monday night, but consumers can still make their "Sweet 16" picks in Consumerist.com's annual "Worst Company in America" tournament, which runs through April 26.
In its fifth year, the website, owned by Consumers Union, the publisher of Consumer Reports, lets consumers vote for their least favorite companies in matchups much like the NCAA tournament. Starting with 32 "teams," the tournament pairs companies in votes in which the "winner" (think about it, in a worst company vote you want to lose) advances to face the next competitor.
In the first round this year, Bank of America beat Citibank, GM beat Toyota and in an "upset" Cash4Gold beat defending "champion" AIG. Other companies that advanced included Walmart, Ticketmaster, United Airlines, Best Buy, Apple and Comcast, which has lost in the title game the last two years.
In addition to AIG, past winners have included Halliburton, Recording Industry Association of America and Countrywide. In last year's final, AIG whipped Comcast 3,528 to 1,968 as voters took their frustration over the recession out on a company that was bailed out by the U.S. government.
"They were just constantly in the headlines," Consumerist.com co-managing editor Ben Popken said of AIG. "They became a real focal point for what went wrong with the economy."
Consumers nominate companies to compete in the annual tournament, which was created as a tongue-in-cheek way for shoppers to "bite back" using social media and the Internet, according to Consumerist.com. To be considered for inclusion the website now requires that companies must regularly provide products or services to consumers.
Fans still buying tickets, startup CEO says
So how’s the market for sports and concert tickets holding up, given the economic turmoil that has dominated the public imagination since last year? Better than you’d think, according to Mike Janes, the founder and CEO of FanSnap, a live-event ticket search engine that launched in March.
“People’s appetite for the shared experience of a game or show hasn’t changed. Their bank accounts may have changed, but not the desire,” Janes said.
The difficult economy has had the effect of bringing many ticket prices down, he said, meaning there are plenty of bargains out there. While there will always be insatiable demand for big-name performers or games (Springsteen; Yankees vs. Red Sox) keeping those ticket prices high, Janes said tix for your average major league baseball game can be had for below face value in some cases, as folks looking to resell tickets flood the market with supply. It’s a bit too early to see about NFL games, he said.
FanSnap, whose main investor is VC and private equity firm General Catalyst Partners, runs in a similar way Kayak does flight searches. Since there is so much variability in ticket prices (unlike in airline tickets) FanSnap’s search engine turns up seats within mere feet of each other — displayed on a nifty interactive map — but with very different asking prices. (Janes said the site aims to “make it really hard to overpay for tickets.”)
FanSnap has deals in place with dozens of vendors and re-sellers, including big names like StubHub and RazorGator, and is working to bring others into the fold.
The unemployment rate is very high, but the people that are working have increased their savings rate significantly. So those who are working do have money to spend.
Ticket prices used to be ridiculously high. As the economy drags down prices people with savings and money to spend can jump on bargains on lots of stuff. Prices are falling everywhere, so people that have savings can take advantage.
Your new friendly concert ticket seller/promoter
The proposed merger between Ticketmaster, the world’s largest ticketing firm, and Live Nation, the world’s largest concert promoter, met with huge uproar when it was announced back in February and is still being examined by federal regulators.
Most of the uproar was prompted by fears the combined company would have too much power and be able to control (read ‘raise’) concert ticket prices whenever they want. There were also separate complaints about Ticketmaster’s use of a secondary ticketing company (read: scalper) to sell tickets such as Bruce Springsteen’s at exorbitant prices.
Perhaps with one eye on getting the merger past regulators, both companies are this summer trying new ways to win over music fans. Live Nation, for instance, said it is expanding its “No Service Fee Wednesday” program to include every single ticket in each of its amphitheaters this summer.
Fans often complain about the ‘convenience fees’ when they buy tickets. Such add-ons to the ticket price can sometimes significantly increase the final bill. Live Nation said last week’s debut of No Service Fee Wednesday generated a sales spike 500 percent higher than the average number of tickets sold on a Wednesday.
Meanwhile over at Ticketmaster the company is hoping to “thwart scalpers” by introducing paperless tickets according to this Wall Street Journal story. Ticketmaster will launch its first major trial with teen pop star Miley Cyrus’ 45-date tour later this year (Cyrus pictured left).
The Journal said the technology is meant to make seats impossible to sell or transfer because they can be redeemed only at the concert, using the credit card with which they were bought.
Ticketmaster’s plan makes sense. It brings parts of the company’s operations into the 90s — when many airlines first started selling paperless tickets. And like the airlines we should necessarily expect an improvement in service just because there’s been a cut in costs (not having to print and send out tickets to fans).
And after the merger and the paperless tickets will create one company that controls all access to the tickets and can charge whatever they want to without any competition.
from DealZone:
After March Madness, a little May Rage
With the end of the economic meltdown so tantalizingly close, and stock markets pricing in the spring thaw, The Consumerist’s annual Worst Company in America competition is just the tonic DealZone readers need to keep their prized sense of perspective appropriately tickled.
“It’s the bailouts versus the monopolies!” the Website’s news release rings out:
The annual 32-company battle royale has whittled itself down to the “final four”: Bank of America, Comcast, Ticketmaster and AIG. One of these disastrous companies will go on to join Halliburton (2006), RIAA (2007) and Countrywide (2008) as “The Worst Company in America.”
AIG and Ticketmaster face-off May 4th, Bank of America and Comcast face-off May 5th, the victors of those contests meet May 6th, and then the “winner” is announced May 7th.
The competition began with 32 companies separated into four brackets. Companies competed in head-to-head match ups and the winner of each match up was determined by the vote of Consumerist readers. The 32 companies included: AIG, Target, Peanut Corp of America, American Express, Walmart, HP, T-Mobile, Best Buy, Ticketmaster, TWC, Apple, United HealthCare, Verizon, Sprint, Home Depot, Citibank, Comcast, DirecTV, US Airways, Capital One, General Motors, United Airlines, Sears, Chase, eBay/Paypal, GE, Dell, Chrysler, AT&T, Circuit City, Starbucks, and Bank of America.
“AIG and Bank of America paved their way to the final four with exorbitant executive compensation packages, reckless management, and tax payer bailouts. Ticketmaster and Comcast drew the ire of voters because they were viewed as monopolies that consumers were forced to deal with,” said Meghann Marco, Consumerist.com.
Deals of the Day:
* French retail giant Carrefour has signed a preliminary memorandum of intent to buy 75 percent in Russia's Seventh Continent and will make a final offer on May 15, a newspaper reported. Sources told Reuters last month that Carrefour had provisionally valued its takeover target at $1.25 billion.
* Commodity trader Noble Group raised its offer for Australian miner Gloucester Coal to A$490 million ($361 million), in a bid to scupper Gloucester's planned deal with rival Whitehaven Coal.
Yahoo planning more job cuts
Yahoo CEO Carol Bartz is planning a new round of job cuts according to the reports as the company continues to cope with the aftermath of a downturn in online advertsing sales.
The New York Times and Reuters, citing several people with knowledge of the plans, said the layoffs could affect several hundred employees and may be announced as early as Tuesday when Yahoo reports its first-quarter earnings.
The cuts would be the first since Bartz joined the company as CEO in January.
Yahoo, which spent most of 2008 in a series of off-on merger/partnership talks with Microsoft, has already had two rounds of job cuts in the last year or so. It let go 1,000 staffers in early 2008 and cut another 1,400 at the end of last year.
According to reports, Bartz has renewed partnership discussions with Microsoft in recent weeks which will likely focus on outsourcing its search advertising business to the Seattle-based company according to reports.
- Is CBS Chief Les Moonves job in danger? (BusinessInsider.com)
- AT&T Chief is in discussions to keep iPhone exclusive till 2011 (WSJ)
- US Dept of Justice should reject Live Nation-Ticketmaster deal (NY Post)
(Photo of Bartz courtesy of Yahoo)
Outlook grim for media and entertainment deals
Deal-making in the U.S. media and entertainment sectors is going to be down this year, says a new PricewaterhouseCoopers survey (request a copy here). Now, that’s not a new or startling conclusion given the state of the economy, but it’s just another piece of evidence that when consumers and advertisers get thrifty, deal makers can end up become benchwarmers as companies struggle with cost cuts and other exigencies.
Here are some industry trends for 2009 from the PWC survey:
- Declining consumer spending is hitting many media and entertainment companies. What’s more, these declines were exacerbated by technological convergence, as these firms adapt to and look for ways to make money off new Internet technologies.
- Overall U.S. advertising market is going to shrink as sponsors cut ad budgets across retail, consumer goods, automotive, financial and other sectors.
- Companies will continue to divest their non-core assets, but those that don’t get a good price will prefer to hold on rather than sell at bargain prices.
- Bolt-on deals will likely be popular for risk-averse companies, so deals below $1 billion — mostly small and mid-market companies — will be a rising trend.
- Private equity will remain quiet since the debt markets aren’t really healthy yet.
- Deal structures will change this year, given the difficulty of getting debt financing. The strategic rationale for doing a deal will be more important than getting a favorable capital structure.
But all hope is not lost, according to PWC’s Transaction Services Entertainment & Media Leader Thomas Rooney:
With M&A activity ingrained in the DNA of so many companies and the ever growing presence of private equity, E&M deal activity might not be as quiet as many expect in 2009… History has shown the E&M industry to be one of the more active M&A sectors irrespective of market and economic conditions.
And there have been a couple of deals already this year, although no mega-transactions, as the PWC report suggests. Live Nation wants Ticketmaster and Sumner Redstone’s National Amusements theater chain is being shopped to potential buyers. Could Lions Gate be next?
(Photo: Viacom chairman Sumner Redstone/REUTERS)
Live Nation and Ticketmaster: “Don’t stop Believing”
Live Nation and Ticketmaster might have plenty of people out there who are not pleased with the idea of the two companies coming together but they have received support from several superstars in the run-up to a U.S. anti-trust hearing in Washington DC on Tuesday.
Names like Seal, Shakira, Journey, Van Halen and Billy Corgan (The Smashing Pumpkins) have all offered support to a merger some legislators, smaller rivals and fan groups worry will put too much power over the U.S. and global live music industry in the hands of just one company.
Some of the superstars have long-running relationships with Live Nation’s concert promotion business or are clients of Front Line Management, the artist management firm owned by Ticketmaster. Front Line has more than 200 acts under its wing giving it plenty of leverage in dealing with many promoters, venues and even record labels.
Eddie Van Halen, of 80s rockers Van Halen, wrote in a letter to the anti-trust committee seen by Reuters that the merger could help up-and-coming musicians like his 17-year old son Wolfgang (pictured together}) who joined the band as a bassist a couple of years ago:
There are so many problems facing the music industry today. Van Halen suceedeed based on our record sales and the many tours that we did to increase our record sales. But that business model just doesn’t work anymore. Today, the majority of artists earn their living from playipng live. What my son — and any future band he plays in — needs are new and innovative approaches to the problems facing the live entertainment industry. And I believe that the merger of Ticketmaster/Live Nation is one of those solutions.
Pop act Journey, probably best known for their anthem “Don’t Stop Believing“, were also supportive of the deal:
The music industry has changed dramatically in the last several years. As technology changes the way people get access to their music, one thing stands true — the live show. And the live show has become an even more important jumping off point to maintain the relationship between artists and our fans. The proposed merger of Live Nation and Ticketmaster Entertainment will provide artists at all levels of their careers with the opportunity to leverage a broader universe of venues and to expand their ability to reach current as well as new fans.
These acts have no integrity. They’re shilling out of self-interest – and dishonesty and even ignorance.
Just more evidence as to why the dinosaur that is the record industry deserves to be extinct.
anyone that hates the new facebook look.
this is what it used to look like
http://www.thenology.com/wp-content/uplo ads/2012/01/first-facebook-design.jpg