📍 Pinterest is Losing Millions of Users!

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Despite a 24-Million Decline in User Base Pinterest’s Per User Revenue Increases

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The easing of lockdowns and the re-opening of physical stores worldwide have led to a sharp decline in the user base of Pinterest. Over the past three months, Pinterest has lost 24 million users. 

This decline appears all the more significant after the platform witnessed 11 consecutive quarters of growth. In percentage terms, the platform has experienced a 5% decline in its user base year-on-year. 

The second quarter of 2021 sees Pinterest’s user base standing at 363 million international monthly active users and 91 million US-based monthly active users. 

In the last quarter, Q1 2021, these two numbers stood at 380 million and 98 million respectively. 

Explaining the reasons for a decline in the user base, Pinterest has pointed towards the impact that global vaccine rollout and the re-opening of physical stores had on the world of eCommerce and online browsing. 

On the positive side, the engagement of the platform with its users remains steady, both in terms of shopping and search. 

It implies that users are still curious to discover and buy new products and brands through Pinterest. 

Owing to this steady volume, the global average revenue per user of Pinterest increased in Q2 21 from Q1 21. In Q2 21, Pinterest has earned $1.32 per user, compared to $1.04 in Q1 21. 

Scarlett Johansson Sues Disney

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Hollywood actress Scarlett Johansson has filed a breach of contract suit against Disney. 

The lawsuit filed in the Los Angeles Supreme Court by the actress alleges that Disney breached the agreement by releasing her movie Black Widow on Disney+ simultaneously to its theatrical debut. 

As stated in Ms. Johansson’s filings, a theatrical release implies an exclusive release limited to movie theatres only. 

Going against the norm established in Hollywood, Disney has directed Marvel, a company it owns, to release the film simultaneously on the Disney+ streaming service and the movie theatres. 

Replying to Ms. Johansson’s filings, Disney has termed the filing meritless. The company has also alluded to Ms. Johansson’s ‘callous disregard for the horrific and prolonged global effects of the Covid-19 pandemic’ that they believe to be reflected through her filing. 

Disney has also said that it is in full compliance with its contract with Ms. Johansson and the release of the film on Disney+ enables her to earn an additional compensation over and above the $20 million fees she has received to date. 

According to John Berlinski, the attorney representing Scarlett, the studio is hiding behind the pretext of Covid-19 to increase its subscriber base and stock price by releasing Black Widow directly onto Disney+.

Horizon Blockchain Games Raises $4.5 Million

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Horizon Blockchain builds games on the blockchain and also offers tools that help others to develop the same. 

The platform has raised a little more than $13 million to date with its latest funding round of $4.5 million. The investors who backed this round of funding included CMT Digital, The Xchange Company, BITKRAFT Ventures, Khaled Verjee, and Zyshan Kaba.

Horizon has a two-pronged strategy to deploy these funds. The first strategy relates to Skyweaver, a competitive digital trading card game that leverages the potential of blockchain to give its players more practical ownership of their virtual cards. 

The second relates to its development of Arcadium, an Ethereum-powered platform for handling in-game items. However, after rebranding, Arcadeum has become Sequence, a conveniently integrable wallet system. 

Sequence aims to manage all sorts of digital items, including virtual gaming goods, NFT art, and more. With Skyweaver, the plan is to make its private beta version more open and wide in its use and applicability. 

Twitter Improves Its Spaces Discovery Capability

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Twitter has released new enhancements for its audio Spaces tool. These enhancements will lead to easier sharing of Spaces, boosting awareness and engagement. The newly introduced Search tools will help find the most relevant Spaces.

The first enhancement will help Spaces attendees to directly tweet from within a Space. The tweet will include the relevant hashtag and space link, making it easier to amplify. 

The second enhancement sees Twitter adding some new search options within the Spaces tab for people to find relevant Spaces. Finally, Twitter has added some new guest management features within Spaces. 

The control bar for participants will be available on top of the guest management page.

AROUND THE WEB

💻 Chromebook PCs Continue to Grow: After recording a shipment of 12 million units in Q1 2021, Chromebooks have again hit a figure of 11.9 million shipments this quarter, a 75% growth year-over-year. 

🔎 IMF to Step Up Monitoring: The International Monetary Fund has decided to strengthen its digital currency monitoring efforts to more efficiently facilitate the “far-reaching and complex transition” to a digitized economy.

💰 SoftBank Invests in Wiliot: SoftBank has led a $200 million funding round for Wiliot, a California-based four-year-old startup. 


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