Why Acquiring Roku Could Solidify Facebook’s Video Strategy
Facebook has already begun digging into the TV space with Facebook Watch, so what might the social media company’s next move in video be?
Jesse Redniss, Chief Innovation Officer of Turner’s TBS and TNT networks, predicts the company might buy Roku.
“Facebook has been trying to be getting into the video space for quite sometime now,” he told Cheddar in a recent interview. “When you look at Facebook’s track record of growth, the acquisition of Insta, WhatsApp, Oculus. In some ways, in order for them to really scale into a marketplace, it’ll make a lot of sense for them to buy one of the leaders in a marketplace they want to get into.”
Roku shares fell steeply Friday after Goldman Sachs downgraded the stock, saying the streaming company is overvalued. Still, the company is trading well above its IPO price, and posted a 48 percent increase in active accounts in the third quarter, as well as a 58 percent increase in streaming hours.
For full interview [click here](https://cheddar.com/videos/a-bold-prediction-on-why-facebook-would-acquire-roku).
Social media platforms are often flooded with unverified information, and many people use their news feeds as their main source of news. But Snap is working to set itself apart as it partners with global news outlets to launch Dynamic Stories. Vetted news content will be available for users on the Discovery tab, and news outlets will have an easy way to push content out and reach more people. Alan Wolk, Co-Founder and Lead Analyst at TVREV, joins Closing Bell to discuss Snap's push into news, how it will monetize clicks, whether or not another social media site will imitate the feature, and more.
"New Collar" is a recent term coined for tech jobs that don’t necessarily require a degree but do need a specified technological skillset. Matt Calkins, CEO at cloud-computing and software company Appian, joined Cheddar News to discuss the latest. "This new collar movement is about switching the track you’re on and getting out to a higher value track, making the most of your skills," he said.
Ice Cube's 3-on-3 basketball league, the Big3, is introducing decentralized team ownership to fans with the chance to own a minority stake in the 12 teams through blockchain technology, a first for professional sports. The rapper, actor, and filmmaker joined Cheddar News to talk about the new ownership model using NFTs. "This is a perfect time to offer it to fans and not just wait for fat cats to come and want to buy the teams but for fans to be able to be a part of it,” he said.
Catching you up on what you need to know on April 13, 2022, with President Biden referring to the Russian invasion of Ukraine as a genocide, a suspect has been identified in the Brooklyn subway shooting that injured 23 people, New York’s lieutenant governor has resigned due to bribery allegations, and more.
Elon Musk’s huge Twitter investment took a new twist Tuesday with the filing of a lawsuit alleging that the colorful billionaire illegally delayed disclosing his big stake in the social media company so he could buy more shares at lower prices.
