Foursquare purchases Placed from Snap; Pluto TV carves out LA footprint; Netflix raises U.K. subscription prices
The Verge reports Netflix will increase prices for its U.K.-based subscribers by a pound, effective immediately for new customers. The Hollywood-based company hiked the prices of U.S. customers in January 2019 and cited the increase was due to costly expansions in its original content businsess.
Santa Monica-based Snap Inc. sold its user location data business to social media app Foursquare, according to Variety. Called Placed, the business was bought by Snap for $132.5 million in 2017 and Foursquare raised $150 million in funding to help acquire the data spinoff.
Viacom bought Pluto TV for $340 million in January 2019 as part of its Chief Executive Bob Bakish’s plan to revamp the media conglomerate’s portfolio of brands, and expects Pluto to catapult Viacom into a leading spot in the streaming industry, according to a new report from the Hollywood Reporter. Pluto attracts 16 million monthly users, a potentially lucrative pool for advertisers. It’s worth noting that Viacom is still $9 billion in debt and lacking in cash compared to its competitors.
Tech reporter Samson Amore can be reached at email@example.com or (323) 556-8335. Follow him on Twitter @samsonamore.
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