Facebook tax bill, Snap shares plummet, BBC gaffe
Facebook’s Australian tax bill is just $24 million as profits double
Facebook Australia’s tax bill was $24 million last year after doubling its profits, but funneled nearly $1 billion in local advertising revenue to an international subsidiary, reports SMH Zoe Samios.
Accounts disclosed to the Australian Securities and Investments Commission show Facebook, which is owned by Meta, generated pre-tax profits of $61.1 million, up from $37.9 million a year earlier. Total ad revenue fell from $712.7 million to $1.1 billion, but accounts show most of that money was sent overseas.
Facebook did not say how much it was paying under recently struck multi-year business deals with media companies including Nine Entertainment Co, News Corp Australia, publisher of Australian, The Daily Telegraph and The Sun Herald, and Seven West Media. These transactions were concluded through an international subsidiary.
Snap shares fall after disclosing missed revenue
Snap shares fell more than 30% in after-hours trading after the company disclosed to the SEC on Monday that it expected to miss its second-quarter revenue guidance, reports The Hollywood Reporter J. Clara Chan.
“Since we released guidance on April 21, 2022, the macroeconomic environment has deteriorated further and faster than expected,” the company said in its after-market filing. “As a result, we believe it is likely that we will report revenue and Adjusted EBITDA below the low end of our guidance range for the second quarter of 2022.”
In its first quarter earnings report, Snap – the parent company of Snapchat – hinted at disappointing revenue expectations, given that the company did not disclose a specific revenue target for the second quarter, as she usually does. Instead, Snap said it expects revenue growth to increase 20-25% year-over-year. As for its second-quarter adjusted EBITDA, Snap projected it would break even or hit $50 million.
Netflix launches new game titles
Netflix Inc announced the launch of three mobile games on Tuesday, with a fourth title at the end of the month, as the streaming service best known for movies and TV shows deepens its investment in interactive entertainment, Reuters reports.
Canadian developer East Side Games has re-released its Facebook game dragon up as a Netflix mobile title, as does Spanish developer 11 Bit Studios with its role-playing adventure game, Moonlight. German developer HandyGames has remastered its strategy game, city dwellers – A rebuilt kingdomfor mobile Netflix.
All three mobile games are available through the Apple App Store and Google Play Stores.
May 31, Explosive Kittens – The Game is coming to Netflix mobile. Direwolf Digital has adapted the popular card game for mobile devices.
Andrew O’Keefe will spend six months at the Connect Global Rehab Center
Andrew O’Keefe is set to spend the next six to 12 months at a waterfront men’s rehabilitation center in New South Wales, News Corp’s reports Hayley Godard.
The fallen game show host has been released on bail to tackle his drug and alcohol problems at the Connect Global Christian charity rehabilitation center in Swan Bay, near Port Stephens, north of Newcastle.
Connect Global Ltd states on its website that it provides “respite, peace and rejuvenation in a supported environment, to men whose lives have been devastated by drug and alcohol abuse”.
Re expands presence in Australia with new office in Melbourne
Re, part of the M&C Saatchi Group, is expanding its presence in Australia with a new office in Melbourne, in addition to its office in Sydney.
Melbourne’s five-person team is led by Creative Director Shannon Bell. His work has won awards at Cannes, One Show and D&AD.
Bell said: “We have been working with customers here for some time now, so it seems high time for Re to open a dedicated office in Melbourne.
“I am delighted to continue to strengthen our team here, as well as to work more closely with our partners in the M&C Saatchi Group,” she added.
Bell’s transition to Melbourne follows eight years at Re Sydney, where she led the creative team working with clients including Optus, Commonwealth Bank and Woolworths, with a particular focus on verbal identity projects.
Fenton Stephens announces key new hires after companies win
Fenton Stephens announced key hires following further business success and an expansion of the agency’s CX offering.
Joining the Melbourne-based independent agency means Alice Martin play the role of main strategist.
Martin comes from CHEP, where she worked at Telstra, RACV, Samsung and LaTrobe University. Martin was also previously at VMLY&R.
Shefik Bey joined the agency as head of innovation and transformation, after a period of consulting.
Bey brings her extensive experience in digital transformation to Fenton Stephens, having recently worked with Service Victoria. Previously, he ran his own consultancy, U1 Group.
Campbell Smith joins as Chief Strategy Officer and Director of Big Red. Smith worked there for almost a decade and helped it grow into one of Australia’s largest independent agencies.
Complete new recruits is Amy Stephens who adds the responsibilities of Chief Client Officer to her role as Director of Client Services. She will work in partnership with Bey and reflect the rise of CX work.
Channel Factory announces key appointments to its Australian team
Channel Factory has announced two key appointments in Sydney and Melbourne, bolstering its Australian team.
francisco francesjoin youtube advertising the society as an ANZ Client Services Manager, with over 10 years of programmatic experience.
Frances, who is based in Sydney, brings over 10 years of experience to the role. He began his career overseas at Grapeshot EMEA as Client Services Manager before taking on a global role with the agency.
The new ANZ Client Services Manager also spent four years at Oracle JAPAC, starting as a Senior Consultant before being promoted to Branch Manager, and was named Oracle Vendor of the Year for JAPAC in 2021.
Meanwhile Jacques Rosebased in Melbourne, has been appointed Director of Business Solutions.
Rose was previously Senior Director of Sales at miQ Digital, growing her independent portfolio in Victoria from scratch to now managing over 50 advertisers each quarter.
The Bachelors reality series under fire for its lack of diversity as ratings plummet
Australia reacted to the rebranding Singles series…and there’s not much love in the air, reports News Corp’s Dana Pendrick.
Social media users blasted Channel 10 for attacking its “lack of diversity” in the newly announced series.
On Monday, the outlet reported that a trio of male heartthrobs will be vying for love as the popular reality TV show’s next singles.
The 10th season will air on the Gold Coast with three male contestants Felix Von Hofe, Thomas Malucelli, and Jed McIntosh.
Following the announcement, social media users were quick to point out that all three contestants were white and criticized the production for not including people of color.
What political thriller Total Control predicted about the election and what it missed
The people who made Total control could have been excused for feeling a bit smug on a Sunday morning. After all, the second series of ABC’s political thriller, in which Deborah Mailman plays a free radical who wreaks havoc in Parliament and Rachel Griffiths a Tory PM ousted by his own backroom, introduced a wave of independent women to power on a promise to end politics as business as usual, reports SMH Karl Quinn.
Darren Dalewho created the show with Griffiths, says it was born out of a “sense of frustration” with a two-party system that felt “a bit broken and increasingly divisive and mean”.
The team at Blackfella, who produced the show, wanted to explore through drama how this system could be challenged “when people who don’t feel represented stand up and claim their claim”.
And that is precisely what happened this weekend. “To see it unfold in such stunning fashion six months later is extraordinary and a testament to the power of our democracy when the status quo is challenged,” says Dale.
‘United is rubbish’: BBC apologizes for ticker tape gaffe
The BBC has been forced to apologize for playing the phrase ‘Manchester United are rubbish’ on its ticker, reports THe Sydney Morning Herald.
The words appeared between 9 a.m. and 10 a.m. Tuesday (Tuesday evening AEST) during updates from the current French Open tennis tournament. The network took more than two hours to acknowledge the gaffe, accusing it of a training error.
“Earlier some of you might have noticed something quite unusual on the ticker that runs along the bottom of the screen with news, commenting on Manchester United,” the host said. . “I hope the Manchester United fans weren’t offended by this,” adding in explanation that “behind the scenes someone was training to learn how to use the ticker and how to put text on the teleprinter”.