CNN cancels Snapchat show due to unclear path to profit; FabFitFun expands distribution with app for Apple TV and Amazon Fire; and Facebook and Universal Music strike multi-year licensing deal.
CNN is pulling its daily Snapchat news story, "The Update," reportedly citing an unclear path to making money, CNBC reports. The TV-style Snapchat show launched just four months ago and offered breaking news and headlines at 6 p.m. daily in the app's Discover feature, which hosts paid publisher content.
FabFitFun, a women’s lifestyle subscription service and media company, is expanding its distribution with the launch of a new video app for Apple TV and Amazon Fire, TechCrunch reports. The new app will put the company’s videos on Apple TV and Amazon Fire, significantly expanding the footprint beyond its current 400,000 video viewership.
Facebook Inc. and Universal Music Group on Thursday announced a global agreement that will enable users to upload videos featuring music from Universal’s library across the social media network as well as Instagram and Oculus, Reuters reports. Through the agreement, which is Facebook’s first with a major record label, the social media company will no longer have to require users to take down videos featuring music from Universal’s catalog due to copyright infringement. Terms of the deal were not disclosed.