Hulu plans new advertising structure; SRAX CFO leaves; Faraday Future cutting more employees
Santa Monica-headquartered streaming service Hulu is bringing back advertisements which play when its content is paused. Hulu and AT&T Inc., which has a 10 percent stake in the company, plan to introduce these ads in early 2019. Engadget reports its unclear if other AT&T and WarnerMedia offerings would benefit from this ad structure, but a spokesperson mentioned the prospect of interactive ads with the ability to display more information at the user’s request. It’s worth noting that Hollywood-based Netflix received negative customer feedback when it tried publishing advertisements in between episodes in August 2018 and the effort was short-lived.
SRAX Chief Financial Officer Resigns
The Business Journal reports Downtown-based advertising technology firm Social Reality Inc. announced recently its Chief Financial Officer J.P. Hannan has left the company and his duties will be carried out on an interim basis by Chief Executive Christopher Miglino. Hannan had been working for SRAX remotely from Atlanta, and Miglino said the firm wants to find a local, in-house financial officer next.
Faraday Future Cuts Additional Employees
In a statement published Dec. 4, electric vehicle manufacturer Faraday and Future Inc. said it must furlough up to 250 additional employees, just two months after it first announced it would cut employees and wages by 20 percent. Struggles with Faraday Future’s main investor, Evergrande Health Group, has caused the latest round of financial troubles and The Verge reports the vehicle maker doesn’t expect employees to be able to return to work until March 2019.
