Technology
Cineverse Reports Third Quarter Fiscal Year 2024 Results
Published
7 months agoon
By
Total Revenue of $13.3 Million
Total Direct Operating Margin Increased to 59% from 48%
Selling, General, and Administrative Expenses Decreased By $2.7 Million, or 30%
Adjusted EBITDA of $1.8 Million
LOS ANGELES, Feb. 14, 2024 /PRNewswire/ — Cineverse Corp. (“Cineverse” or the “Company”) (NASDAQ: CNVS), a global streaming technology and entertainment company, today announced its financial results for the fiscal third quarter ended December 31, 2023 (“Q3 FY 2024”).
Q3 FY 2024 Highlights (all comparisons are to the prior year fiscal quarter ended December 31, 2022):
Similar to the reported results for last quarter, the Company’s initiatives to reduce operating costs, optimize our streaming channel portfolio and increase margins continued to have a very positive impact on our financial results. Although revenue, operating profit, and net income decreased due to the impact in last year’s third quarter of the runoff of the Company’s legacy digital cinema business ($7.2 million in revenue, 84% operating margin) (the “Digital Cinema” impact), last year’s theatrical success driven by the horror phenomenon Terrifier 2 ($3.8 million decrease in theatrical revenue) (the “Terrifier 2” impact), and the recognition of losses stemming from the Company’s investment in A Metaverse Company (a $3.0 million non-cash loss) (the “Metaverse” impact), direct operating margins improved significantly to 59% and SG&A expenses decreased markedly by 30%. The Company generated positive adjusted EBITDA of $1.8 million in the quarter. Excluding the $3.0 million non-cash Metaverse impact, net income for the quarter was a positive $0.2 million. Importantly, the Company has also secured the rights to Terrifier 3, which is scheduled for Q3 FY 2025 release, is currently filming, and was recently named by USA Today as one of the top ten most highly anticipated horror films of 2024.
Total revenue was $13.3 million versus $27.9 million, reflecting the Digital Cinema and Terrifier 2 impacts, and the impact of our channel portfolio optimization efforts where we have culled lower margin channels, concentrating our resources on higher-return performers.Subscription-based revenues increased 13% to $3.4 million, driven by the continued success of the company’s enthusiast streaming services. Total paid subscribers to our channels grew to 1.4 million, an increase of 30% year-over-year and 11% over the prior quarter.Advertising-based revenues declined 31% to $4.1 million, primarily due to our channel optimization efforts, a non-recurring technical transition with a large FAST platform partner and the continued impact of the current economic climate on the advertising market.The Company’s direct operating expenses decreased to $5.5 million from $14.4 million and direct operating margin increased to 59%, compared to 48%.SG&A expenses decreased $2.7 million, or 30%, primarily driven by a reduction of 34 domestic employment positions, our off-shoring initiative to Cineverse Services India, and tight spending controls.In FY 2024, the Company launched Cineverse Services India (“Cineverse Services”), a new business unit that expands upon the Company’s successful India operations to consolidate Cineverse’s support operations at vastly reduced costs. This is anticipated to help generate as much as $8.0 million in annualized direct operating and SG&A cost reductions when fully implemented. We have already off-shored or identified 29 employment positions that are moving to Cineverse Services.Operating income decreased by $3.0 million to $0.4 million, primarily due to the Digital Cinema and the Terrifier 2 impacts in the prior year.Net loss attributable to common stockholders was $2.9 million, or $(0.22) earnings per share, down from net income of $4.9 million, or $0.55 earnings per share. The quarter’s loss was due to the Metaverse impact, an investment which was originally acquired in a cashless transaction. Excluding the Metaverse impact, net income attributable to common stockholders for the quarter was a positive $0.2 million.Adjusted EBITDA decreased by $3.2 million to $1.8 million, primarily due to the Digital Cinema and the Terrifier 2 impacts.Financial condition overview:Cash and cash equivalents of $5.5 million as of December 31, 2023.Stockholders’ equity was $43.3 million, or $3.27 per outstanding share as of December 31, 2023.Digital content library valued in FY 2024 at $26 million to $30 million in a third-party appraisal, compared to a book value of $2.7 million as of December 31, 2023.The Company expanded its line of revolving line of credit capacity from $5.0 million to $7.5 million.
Operational Developments During the Quarter
Announced LightningFAST – a market-defining partnership with streaming technology leader, Amagi, that will enable Video Service Providers to launch and scale FAST channels with minimum effort, for maximum returns. This partnership, which means both a combined product offering, and sales and marketing resources, is expected to expand our Matchpoint offerings into the Enterprise client space.Further expanded MatchpointAI offerings through strategic partnerships with Vionlabs to enable next-generation search via cognitive AI for Matchpoint customers and Cineverse subscribers.Announced a new Cineverse Matchpoint managed services partnership for three channels with major Children’s programmer 9 Story, including the beloved “Barney” and “Garfield” franchises.Expanded our subscription service offerings with the launch of Midnight Pulp on Amazon Prime Channels, Comcast Xfinity and The Roku Channel.Ramped up low-cost content acquisitions, including fan favorite “River,” to boost customer retention and engagement with increased margins.Bloody Disgusting consumer products launched in October, with a branded clothing line being sold in more than 600 Spencer’s Gifts retail locations nationwide.Capitalized on the momentum of Bloody Disgusting Horror Brand, with the expansion of audio business and formation of new publishing imprint, Bloody Press.Welcomed Mary Ann Halford to the Board of Directors.
Operational Developments Subsequent to Quarter-End
Launched LightningFAST at CES 2024 – saw significant lead generation and potential revenue generation from event.Debuted FAST channel Dog Whisperer with Cesar Milan FAST channel – featuring every episode of the beloved series – on Amazon Freevee.Premiered Sid & Marty Krofft Channel – featuring 50 years of iconic shows now made available as VOD offering on Roku Channel, Cineverse, Dove Channel and Midnight Pulp. This marks a historic re-release of the remastered library – making the culture-defining shows available on digital platforms for the first time thanks to Cineverse’s proprietary streaming technology, Matchpoint.Expanded existing credit line with East West Bank to $7.5 Million – further strengthening Cineverse’s balance sheet without equity dilution.Announced partnership with Google Cloud to launch cineSearch, a conversational search & discovery (SAND) tool for film and television content, with a public beta coming in Spring 2024.
Management Commentary
Chris McGurk, Cineverse Chairman and CEO, stated, “Continuing the trend from our last reported quarter, we saw significant margin growth this quarter resulting from our initiatives to streamline our cost structure and optimize our streaming channel portfolio. Direct operating margin increased to 59% versus 48% last year and SG&A expenses decreased by $2.7 million or 30%. This was an additional $0.5 million in SG&A reductions versus our last reported quarter. Fiscal year to date, we have reduced SG&A by $7.9 million or 27%. Additionally, our more than two-dozen enthusiast streaming channels and multiple revenue streams give us the ability to manage our business as a portfolio. This provides us with a unique opportunity to improve our profitability by optimizing our portfolio by eliminating channels that generate lower margin revenues and, instead, focusing resources on higher return channels. Clearly, our cost reduction, channel optimization and other margin improvement efforts are generating significant positive results, and we are far from done in this area as we drive toward our goal of sustainable profitability. In fact, excluding the impact of the non-cash, non-operating loss recognized on our investment in A Metaverse Company, this quarter’s net income was $0.2 million.”
McGurk continued, “Cineverse Services in India, where we are in the process of off-shoring a significant number of domestic positions to a trusted and successful Company-owned operation, will continue to drive further reductions in our operating expenses and sustain these improved margins. This is a unique competitive advantage for Cineverse that we intend to take full advantage of. Already, we have transferred and/or identified 29 employment positions that are moving to Cineverse Services. And, in addition to significant additional cost savings as we move toward our goal of an $8 million annualized reduction in costs, we fully expect that workflows and operational efficiencies will continue to improve significantly as a result of this initiative.”
Erick Opeka, President and Chief Strategy Officer of Cineverse, added, “Our efforts on streamlining continue to pay off. At 59%, our direct operating margins signal that our business model of building deep fan bases in popular verticals and providing scale volumes of relevant, library and low-cost first window content is a model that works. As we have nearly fully optimized our margins on the operating side, we continue to focus reducing our SG&A costs to scale up the bottom line. In the quarter, we continued to leverage both automation and our off-shore services hub, and expect to achieve our profitability goals over the next two quarters.”
Opeka continued, “With strong direct operating margins, rapidly improving net margins and EBITDA, we have built a model that has the potential to profitably scale. In order to drive topline growth, we will focus on four key areas: leveraging our partnership with Amagi to drive high-margin technology revenues, expanding our distribution of SVOD, AVOD and FAST streaming channels to our vast OEM and tech partner network, expanding licensing our 71,000 title library to those same partners, and growing and driving direct ad sales on our channels and our new ad network. We believe this diversified approach will be the building block for a unique, diversified streaming business with the unique nature of having best-in-class margins and profitability. Finally, the partnership with Google Cloud we just announced for cineSearch, an innovative AI-based streaming movie search platform, underscores the momentum and potential of our technology business. This demonstrates again that Cineverse continues to be at the forefront of the entertainment industry by applying AI technology in a first-to-market, enhanced search feature that enables users to search through a huge volume of films across multiple dimensions and is unavailable on any other platform.”
Conference Call
Cineverse will host a conference call at 4:30 p.m. ET (Wednesday, February 14, 2024), during which management will discuss the results of the fiscal third quarter ended December 31, 2023. To participate in the conference call, please use the following dial-in numbers:
United States (Local):
+1 404 975 4839
United States (Toll-Free):
+1 833 470 1428
Canada (Toll-Free):
+1 833 950 0062
Access code:
080162
The conference call can also be accessed by webcast at the Investors section of the Company’s website at https://investor.cineverse.com/events-and-presentations. Those who are unable to attend the live conference call may access the recording at the above webcast link, which will be made available shortly after the conclusion of the call.
About Cineverse
Cineverse’s advanced, proprietary technology drives the distribution of over 70,000 premium films, series, and podcasts to more than 150 million unique viewers monthly. From providing a complete streaming solution to some of the world’s most recognizable brands, to super-serving their own network of fan channels, Cineverse is powering the future of Entertainment. For more information, please visit www.cineverse.com. (NASDAQ: CNVS)
Safe Harbor Statement
Investors and readers are cautioned that certain statements contained in this document, as well as some statements in periodic press releases and some oral statements of Cineverse officials during presentations about Cineverse, along with Cineverse’s filings with the Securities and Exchange Commission, including Cineverse’s registration statements, quarterly reports on Form 10-Q and annual report on Form 10-K, are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”). Forward-looking statements include statements that are predictive in nature, which depend upon or refer to future events or conditions, which include words such as “expects,” “anticipates,” “intends,” “plans,” “could,” “might,” “believes,” “seeks,” “estimates” or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings, or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by Cineverse’s management, are also forward-looking statements as defined by the Act. Forward-looking statements are based on current expectations and projections about future events and are subject to various risks, uncertainties, and assumptions about Cineverse, its technology, economic and market factors, and the industries in which Cineverse does business, among other things. These statements are not guarantees of future performance, and Cineverse undertakes no specific obligation or intention to update these statements after the date of this release.
For additional information, please contact:
Julie Milstead
424-281-5411
investorrelations@cineverse.com
CINEVERSE CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
As of
December 31,
March 31,
2023
2023
(Unaudited)
ASSETS
Current Assets
Cash and cash equivalents
$
5,539
$
7,152
Accounts receivable
16,416
20,846
Unbilled revenue
2,454
2,036
Employee retention tax credit
1,672
2,085
Content advances
8,477
3,724
Other current assets
1,678
1,734
Total Current Assets
36,236
37,577
Equity investment in A Metaverse Company, a related party, at fair value
1,276
5,200
Property and equipment, net
2,065
1,833
Intangible assets, net
18,727
19,868
Goodwill
20,824
20,824
Content advances, net of current portion
3,153
1,421
Other long-term assets
943
1,265
Total Assets
$
83,224
$
87,988
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Accounts payable and accrued expenses
$
26,987
$
34,531
Line of credit, including unamortized debt issuance costs of $69 and $76, respectively
4,931
4,924
Current portion of earnout and deferred consideration on purchase of business
4,064
5,232
Operating lease liabilities
440
418
Current portion of deferred revenue
246
226
Total Current Liabilities
36,668
45,331
Deferred consideration on purchase, net of current portion
2,639
2,647
Operating lease liabilities, net of current portion
531
863
Other long-term liabilities
59
74
Total Liabilities
$
39,897
$
48,915
Stockholders’ Equity
Preferred stock
$
3,559
$
3,559
Common stock
192
185
Additional paid-in capital
542,482
530,998
Treasury stock, at cost
(11,978)
(11,608)
Accumulated deficit
(489,341)
(482,395)
Accumulated other comprehensive loss
(417)
(402)
Total stockholders’ equity of Cineverse Corp.
44,497
40,337
Deficit attributable to noncontrolling interest
(1,170)
(1,264)
Total equity
43,327
39,073
Total Liabilities and Equity
$
83,224
$
87,988
CINEVERSE CORP.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except for per share data)
(Unaudited)
For the Three Months Ended December 31,
For the Nine Months Ended December 31,
2023
2022
2023
2022
Revenues
$
13,276
$
27,882
$
39,268
$
55,478
Operating expenses
Direct operating
5,464
14,411
17,097
29,859
Selling, general and administrative
6,373
9,107
21,088
29,016
Depreciation and amortization
1,012
924
2,787
2,908
Total operating expenses
12,849
24,442
40,972
61,783
Operating income (loss)
427
3,440
(1,704)
(6,305)
Interest expense
(291)
(367)
(781)
(880)
Loss from investment in Metaverse, a related party
(3,043)
—
(3,761)
(1,828)
Employee retention tax credit
—
2,025
—
2,475
Other income (expenses), net
147
(76)
(331)
(82)
Net (loss) income before income taxes
(2,760)
5,022
(6,577)
(6,620)
Income tax benefit (expense) expense
24
—
(12)
—
Net (loss) income
(2,736)
5,022
(6,589)
(6,620)
Net income attributable to noncontrolling interest
(41)
(8)
(94)
(35)
Net (loss) income attributable to controlling interests
(2,777)
5,014
(6,683)
(6,655)
Preferred stock dividends
(87)
(88)
(263)
(264)
Net (loss) income attributable to common stockholders
$
(2,864)
$
4,926
$
(6,946)
$
(6,919)
Net (loss) income per share attributable to common stockholders:
Basic
$
(0.22)
$
0.55
$
(0.59)
$
(0.78)
Diluted
$
(0.22)
$
0.55
$
(0.59)
$
(0.78)
Weighted average shares of common stock outstanding:
Basic
12,828
8,945
11,678
8,854
Diluted
12,828
8,945
11,678
8,854
Adjusted EBITDA
We define Adjusted EBITDA to be earnings before interest, taxes, depreciation and amortization, stock-based compensation expense, merger and acquisition costs, restructuring, transition and acquisitions expense, net, goodwill impairment and certain other items.
Adjusted EBITDA is not a measurement of financial performance under GAAP and may not be comparable to other similarly titled measures of other companies. We use Adjusted EBITDA as a financial metric to measure the financial performance of the business because management believes it provides additional information with respect to the performance of its fundamental business activities. For this reason, we believe Adjusted EBITDA will also be useful to others, including our stockholders, as a valuable financial metric.
We present Adjusted EBITDA because we believe that Adjusted EBITDA is a useful supplement to net income (loss) from continuing operations as an indicator of operating performance. We also believe that Adjusted EBITDA is a financial measure that is useful both to management and investors when evaluating our performance and comparing our performance with that of our competitors. We also use Adjusted EBITDA for planning purposes and to evaluate our financial performance because Adjusted EBITDA excludes certain incremental expenses or non-cash items, such as stock-based compensation charges, that we believe are not indicative of our ongoing operating performance.
We believe that Adjusted EBITDA is a performance measure and not a liquidity measure, and therefore a reconciliation between net income (loss) from operations and Adjusted EBITDA has been provided in the financial results. Adjusted EBITDA should not be considered as an alternative to net income (loss) from operations as an indicator of performance or as an alternative to cash flows from operating activities as an indicator of cash flows, in each case as determined in accordance with GAAP, or as a measure of liquidity. In addition, Adjusted EBITDA does not take into account changes in certain assets and liabilities as well as interest and income taxes that can affect cash flows. We do not intend the presentation of these non-GAAP measures to be considered in isolation or as a substitute for results prepared in accordance with GAAP. These non-GAAP measures should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP.
Following is the reconciliation of our consolidated net (loss) income to Adjusted EBITDA (in thousands):
For the Three Months Ended December 31,
For the Nine Months Ended December 31,
2023
2022
2023
2022
(Unaudited)
(Unaudited)
Net (loss) income
$
(2,736)
$
5,022
$
(6,589)
$
(6,620)
Add Backs:
Income tax (benefit) expense
(24)
—
12
—
Depreciation and amortization
1,012
924
2,787
2,908
Interest expense
291
367
781
880
Stock-based compensation
183
658
1,092
3,855
Loss from equity investment in Metaverse, a related party
3,043
—
3,761
1,828
Employee retention tax credit
—
(2,025)
—
(2,475)
Provision for doubtful accounts
—
7
—
54
Other (income) expense, net
(147)
76
2
82
Net income attributable to noncontrolling interest
(41)
(8)
(94)
(35)
Transition-related costs
259
15
1,094
371
Mergers and acquisitions costs
—
—
—
207
Adjusted EBITDA
$
1,840
$
5,035
$
2,846
$
1,056
View original content to download multimedia:https://www.prnewswire.com/news-releases/cineverse-reports-third-quarter-fiscal-year-2024-results-302062283.html
SOURCE Cineverse Corp.
You may like
Technology
Bonus Days Off, No Meeting Days and Virtual Water Coolers: Naturals2Go Brings a New Era of Company Culture & Commitment
Published
29 mins agoon
September 20, 2024By
Naturals2Go, a leader in the unattended retail, breakroom experience, and vending industry, is unveiling a series of meaningful initiatives designed to foster connection, creativity, and care within its workforce. These initiatives reflect Naturals2Go’s commitment to cultivating an environment where both personal and professional growth are prioritized, helping the quickly growing company hold its position as an organization that simply values its employees with as much care as its customers. It just does business differently.
SAVANNAH, Ga., Sept. 20, 2024 /PRNewswire-PRWeb/ — Naturals2Go, a leader in the unattended retail, breakroom experience, and vending industry, is unveiling a series of meaningful initiatives designed to foster connection, creativity, and care within its workforce. These initiatives reflect Naturals2Go’s commitment to cultivating an environment where both personal and professional growth are prioritized, helping the quickly growing company hold its position as an organization that simply values its employees with as much care as its customers. It just does business differently.
Innovation In Action
Naturals2Go is known for innovating the vending industry by offering the only proven program to enhance or improve income, investment, or future wealth through a part-time or full-time vending machine business. They have changed the industry again by developing regional operations centers and a wider range of services.
To do so, Naturals2Go has grown from 20 to 140 employees over the past four years. To help the team stay successful and cared for through this rapid expansion, Naturals2Go executives have introduced three new programs.
These exciting initiatives enhance the quality of life, not just work, for employees — whether they are one of the 100 remote members of the team or in one of the company’s regional operations centers (ROCs).
“You don’t have to be, and shouldn’t be, ‘in it’ all the time,” says Heath Falzarano, President of Naturals2Go.
Refresh2Go: This initiative gives employees one additional (paid) Friday each month, at the same time, to step away from work to recharge however they wish.Vision2Go: Every Wednesday, employees have a mandatory day of no meetings — a day dedicated to creative thinking, process improvement, and strategic planning. This initiative helps individuals and teams take a breather from day-to-day demands and see the bigger picture to guide improvements from ideas to efficiencies.Water Cooler Chats: Recognizing the challenges faced by a dispersed workforce, Naturals2Go has also implemented two daily 15-minute water cooler chats. These optional sessions are designed for a social break – a chance to connect with peers they may not even know yet, strengthening the company’s culture and community.
Why These Initiatives Matter
Falzarano emphasizes his personal belief in caring for those in the organization as much as customers: “We get to help people make a really good living while also letting them live a really good life.” This is true for both the company and those who invest in a Naturals2Go business program.
The importance of these initiatives is underscored by industry trends which highlight the growing need for companies to prioritize employee well-being. Falzarano has championed these initiatives at Naturals2Go, believing that a healthy, supported workforce is crucial to the company’s long-term success.
“Encouraging people to just breathe – to step away from work and know you can enjoy what you have without worry – is what we’re trying to do here,” Falzarano explains. “Nothing bad is going to happen by taking care of yourself a bit more. I know we can do what we need to do in less time, more focus, and just feel better.”
About Naturals2Go
Naturals2Go is the leading unattended retail, breakroom experience and vending business opportunity in the United States – a trusted partner helping entrepreneurial-minded professionals grow for over 35 years. Naturals2Go is an innovator in healthy and intelligent vending and is the highest-rated, longest-serving, most awarded Vending Business Opportunity Company in the United States. The company is expanding with regional operations centers across the U.S. and an expanded suite of services plus a commitment to regional investment, local employment, and community impact. Naturals2Go is committed to leading the industry with a forward-thinking approach and a strong company culture.
If you would like more information about Naturals2Go, email kim.page@naturals2go.com or visit Naturals2Go on the Web at www.naturals2go.com.
Media Contact
Kim Page, Naturals2Go, 1 716-247-6621, kim.page@naturals2go.com, https://www.naturals2go.com/
View original content to download multimedia:https://www.prweb.com/releases/bonus-days-off-no-meeting-days-and-virtual-water-coolers-naturals2go-brings-a-new-era-of-company-culture–commitment-302252834.html
SOURCE Naturals2Go
Technology
This Week in Consumer News: 13 Stories You Need to See
Published
29 mins agoon
September 20, 2024By
A roundup of the most newsworthy consumer and retail announcements from PR Newswire this week, including new holiday flavors from My/Mochi and Simply, plus Toy Insider’s hottest toys of 2024.
NEW YORK, Sept. 20, 2024 /PRNewswire/ — With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help consumer/retail journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
Tupperware Voluntarily Initiates Chapter 11 Proceedings
Tupperware will seek Court approval to continue operating during the proceedings and remains focused on providing its customers with its award-winning, innovative products through Tupperware sales consultants, retail partners and online.M&M’S® Captures A Classic Within Its Iconic Colorful Candy Shell; Introducing NEW M&M’S Peanut Butter & Jelly
The first new flavor innovation since 2022, the delicious addition features berry flavored bite-sized chocolate treats with a deliciously smooth peanut butter center that will transport fans to the comforting experience of a PB&J sandwich.Chili’s® Fires at Fast Food Again with Irresistible 3 For Lunch Combos
During the week (Monday-Friday) from 11 a.m. to 3 p.m. local time (at participating locations), guests can enjoy real value with 11 available options in the new 3 For Lunch Combos, featuring bottomless chips and salsa, choice of entrée and a bottomless non-alcoholic drink, all starting at just $10.99.My/Mochi™ Makes the Holidays “Joyfully Chill” With the Launch of Three NEW Flavors: Hot Cocoa with Marshmallows, Sugar Cookie and Gingerbread
The original and largest mochi ice cream brand is also bringing back fan favorites Pumpkin Spice, Apple Pie á la Mode and Cool Peppermint. “My/Mochi is all about stretching the possibilities of what’s possible with mochi, and this time of year gives us so much runway to have fun with new flavors,” says Brigette Wolf, Chief Marketing Officer, My/Mochi.Crocs Launches the Keep It Going Classic Clog Made with 25% Recycled Material from Consumers’ Well-Loved Shoes
By incorporating bio-circular content, Crocs is giving a second life to plant-based byproducts that would have otherwise ended up as waste through material innovation. In combination with the 25% post-consumer recycled content, the Keep It Going Classic Clog showcases the brand’s efforts at the intersection of circular innovation and materials.KIT KAT® is Giving YOU a Break This Fall to Celebrate Its New Vanilla Flavor
To celebrate, KIT KAT® is giving fans a “break” through a giveaway on @KITKAT_US’s Instagram, where four lucky winners will receive KIT KAT®-branded BÉIS Carry-on luggage filled with KIT KAT® Vanilla bars, and one grand prize winner will receive an additional $1,000 vacation rental marketplace gift card toward travel expenses to spend on a vanilla getaway this fall.Target Brings Holiday Magic with More Savings Across Largest Holiday Assortment Ever
Target is offering consumers savings all season long starting with Target Circle Week, Oct. 6-12, for those who want a head start on holiday shopping. The retailer is also preparing to deliver a joyful and easy shopping experience by investing in its existing team and hiring approximately 100,000 additional seasonal team members.STOUFFER’S® Debuts First Shelf-Stable Offering with New Format of Macaroni and Cheese
With a stovetop cooking time of just ten minutes and no additional ingredients required, STOUFFER’s Supreme Shells & Cheese is a great-tasting and effortless meal for any night of the week, offering the perfect answer to the age-old question “What’s for dinner?” Martha Stewart’s Revitalizing Secret Exposed! Pure Leaf Unsweetened Iced Tea is “Martha’s Little Helper” in New Campaign As seen in videos across social media, her secret stash of Pure Leaf is always accessible for a quick, revitalizing pick-me-up – whether buried in her garden, hidden in her library books or even baked into a homemade cake.Holiday Shoppers, Rejoice: The Toy Insider Experts Reveal the Hottest Toys of 2024 that Deliver Big Value!
This year’s hottest toys appear on one of three featured lists: the Hot 20, the most popular playthings of the year; the STEM 10, top toys that encourage STEM learning; and the 12 Under $20, the best toys that won’t break the bank.Makers of the Jennie-O® Brand Share New State-By-State Consumer Insights on All Things Thanksgiving Among the survey findings: Most people take up to two weeks to plan and cook their Thanksgiving meal. Actual food preparation for this monumental eating occasion adds another three days, and five hours of actual cooking on the day of.Move Over Pumpkin Spice, Simply Spiked® Cranberry Arrives Just in Time to be Your New Fall Favorite
This limited-time offering marks the brand’s first foray into seasonal releases, introducing two delicious varieties: Signature Cranberry and Apple Cranberry.Personalized Skincare Brand, Curology Marks 10 Year Anniversary With A Funfetti® Partnership
Designed to evoke a sense of nostalgia and joy, the lip balm captures the nostalgic Funfetti® vanilla cake batter notes, sugared sprinkle sweetness, and signature vanilla frosting, aligning perfectly with the celebratory spirit of the brand’s anniversary.
For more news like this, check out all of the latest retail-related releases from PR Newswire.
Do you have a retail press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.
Helping Journalists Stay Up to Date on Industry News
These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.
Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:
Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.
About PR Newswire
PR Newswire is the industry’s leading press release distribution partner with an unparalleled global reach of more than 440,000 newsrooms, websites, direct feeds, journalists and influencers and is available in more than 170 countries and 40 languages. From our award-winning Content Services offerings, integrated media newsroom and microsite products, Investor Relations suite of services, paid placement and social sharing tools, PR Newswire has a comprehensive catalog of solutions to solve the modern-day challenges PR and communications teams face. For 70 years, PR Newswire has been the preferred destination for brands to share their most important news stories across the world.
For questions, contact the team at media.relations@cision.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/this-week-in-consumer-news-13-stories-you-need-to-see-302253737.html
SOURCE PR Newswire
Technology
This Week in Tech News: 13 Stories You Need to See
Published
29 mins agoon
September 20, 2024By
A roundup of the most newsworthy tech announcements from PR Newswire this week, including Starlink Wi-Fi on United flights and a flying car manufacturing deal.
NEW YORK, Sept. 20, 2024 /PRNewswire/ — With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help tech journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
IBM and Microsoft Open Three New Experience Zones to Provide Global Clients with More Hands-on Access to Cloud and Generative AI Solutions
These Experience Zones are designed to help global clients across industries, such as financial services, government, healthcare, industrial, manufacturing and consumer packed goods (CPG), find new ways to derive value from generative AI, hybrid cloud and other Microsoft products and technologies.B-FY passwordless biometric solution: a real gamechanger in the fight against Cybercrime
The ongoing reliance on passwords as a primary authentication method has left countless organizations vulnerable to attacks, resulting in severe financial and reputational damage. B-FY offers a robust solution to this growing vulnerability by eliminating the need for passwords altogether.Lockheed Martin Awarded GeoXO Lightning Mapper Contract to Support Forecasters with Severe Weather Monitoring
The GeoXO Lightning Mapper (LMX) instrument detects and measures lightning flashes while onboard NOAA’s next-generation GeoXO weather satellites. This lightning data will provide persistent severe weather observations of the Western Hemisphere, improving storm analysis and prediction, and aiding the detection of tornado-producing storms.Zero Latency VR Enters A New Era With 100 Venues Worldwide And 4 Million Players Pushing The Limits Of Reality
Zero Latency is gearing up to launch its most ambitious experience yet: Warhammer 40,000: Space Marine VR – Defenders of Avarax. This groundbreaking adventure will plunge players into the most expansive and intricately detailed VR universe ever crafted.NASA Shares Hidden Figures Congressional Gold Medal Remarks
The awards recognized the women who contributed to the space race, including the NASA mathematicians who helped land the first astronauts on the Moon under the agency’s Apollo Program.Alef signs mass manufacturing flying car agreement
PUCARA Aero and MYC, a joint venture with experience manufacturing aviation grade parts for Boeing and Airbus, signs an agreement to manufacture parts for Alef. Alef has secured over 3,200 pre-orders and is now entering agreements for mass production of its Model A flying car.The Inflight Wi-Fi Revolution Now Arriving: United Signs Starlink Deal to Provide Industry-Leading Connectivity in the Sky – For Free
“We’re excited to team up with United Airlines to transform the inflight experience,” said Gwynne Shotwell, President and Chief Operating Officer at SpaceX. “With Starlink onboard your United flight, you’ll have access to the world’s most advanced high-speed internet from gate to gate, and all the miles in between.”Spectrum Announces Unprecedented Customer Commitment, Free Internet Speed Lifts and New Bundled Pricing
These commitments are encapsulated within Spectrum’s new brand platform, Life Unlimited, which provides customers access to a life of ‘unlimited’ opportunity and possibility when seamlessly connected through Spectrum’s Internet, Mobile and Video services.Chipotle Debuts Autocado and the Augmented Makeline by Hyphen in Restaurants
With Autocado, crew members can focus on assisting with other food prep items and delivering exceptional hospitality to guests while Autocado cuts avocados, removes their skin, and separates their fruit through an automated process. On average, it takes Autocado approximately 26 seconds to fully flesh out the fruit inside an avocado.Infinix Taps Porsche Dreamer Stories Featured Creator: Discover the ZERO 40 Series GoPro Mode
Creative photographer Allan Yegon, armed with his Infinix ZERO 40 5G and GoPro device, embarked on an East African adventure. He dove beneath the waves and captured the rare moment of swimming with a giant whale shark.TerraMaster Unveils 9 New NAS Models with TOS 6 System
TerraMaster, a leading brand in home and enterprise storage solutions, announced the launch of 9 new NAS models, including two 8-bay all-flash NAS models specifically designed for high-performance needs.Ginkgo Bioworks Launches New Protein LLM and Model API Built on Google Cloud Technology
Chris Sakalosky, vice president of Strategic Industries, Google Cloud: “Ginkgo’s new protein LLM and open API mark a major step forward in making advanced AI tools accessible for drug discovery and biological research. By leveraging Google Cloud’s infrastructure and AI capabilities, Ginkgo is empowering both enterprises and individual scientists to accelerate their work and drive innovation in the life sciences.”Behind the Scenes at Apple Event 2024: How the iPhone 16 Pro and SmallRig Phone Cage Created Cinematic Magic?
It is the third consecutive year that the SmallRig phone cage has appeared at Apple’s event and the fourth consecutive year it has been featured in an Apple spot for the new iPhone series, showcasing how to achieve professional cinematic video using an iPhone.
For more news like this, check out all of the latest technology-related releases from PR Newswire.
Do you have a technology press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.
Info-Tech LIVE 2024
Info-Tech Research Group’s Info-Tech LIVE 2024 took place September 17-19 at the iconic Bellagio in Las Vegas. It offered journalists and media influencers a sneak peek into the latest technology research and trends, exclusive content, and the opportunity to meet industry experts, analysts and speakers.
Here are the front row updates straight from Info-Tech Research Group:
Info-Tech LIVE 2024 Day 1 Highlights: Key Insights Shared on Exponential IT, GenAI, and Emerging IT TrendsThe CIO Playbook Revealed by Info-Tech Research Group at LIVE 2024: New Program Will Drive IT Excellence Through a Systematic 12-Month RoadmapNext-Generation Management & Governance Framework Unveiled at LIVE 2024 Conference Will Empower IT Leaders in an Era of Exponential IT
Helping Journalists Stay Up to Date on Industry News
These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.
Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:
Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.
About PR Newswire
PR Newswire is the industry’s leading press release distribution partner with an unparalleled global reach of more than 440,000 newsrooms, websites, direct feeds, journalists and influencers and is available in more than 170 countries and 40 languages. From our award-winning Content Services offerings, integrated media newsroom and microsite products, Investor Relations suite of services, paid placement and social sharing tools, PR Newswire has a comprehensive catalog of solutions to solve the modern-day challenges PR and communications teams face. For 70 years, PR Newswire has been the preferred destination for brands to share their most important news stories across the world.
For questions, contact the team at media.relations@cision.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/this-week-in-tech-news-13-stories-you-need-to-see-302253751.html
SOURCE PR Newswire
Bonus Days Off, No Meeting Days and Virtual Water Coolers: Naturals2Go Brings a New Era of Company Culture & Commitment
This Week in Consumer News: 13 Stories You Need to See
This Week in Tech News: 13 Stories You Need to See
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
Peloton Unveils Holiday 2022 Creative Campaign Highlighting How Motivation Transcends Beyond the Workout
These ’90s fashion trends are making a comeback in 2017
Why You Should Build on #NEAR – Co-founder Illia Polosukhin at CV Labs
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
NEAR End of Year Town Hall 2021: The Open Web World, MetaBUILD 2 Hackathon and 2021 recap
Trending
-
Technology5 days ago
Canada Invests in Net Zero Atlantic to Create Jobs and Support Clean Energy for Atlantic Canadians
-
Coin Market5 days ago
Reddit user claims ChatGPT initiated a conversation from previous info
-
Technology4 days ago
GSMA MWC Kigali 2024 to explore role of connectivity in driving socio-economic growth across Africa
-
Technology5 days ago
Platform Science to Acquire Trimble’s Global Transportation Telematics Business Units to Drive the Future of Transportation In-Cab Technology
-
Technology5 days ago
World’s 1st Flashlight Experience Store Kicks Off in Las Vegas
-
Coin Market5 days ago
Former President Trump safe following gunshots in close proximity
-
Technology4 days ago
Delectrik Launches Multi-MWh scale Flow Battery Solution for Large C&I and Utility Scale Applications
-
Technology5 days ago
Apple’s Iconic Timeline Comes to Life in Stunning Motion Graphics by WideView