Disney says it’s halting advertising on Facebook, a teen spends more than $20,000 of their parents’ money on Twitch donations, without them knowing of course, and the good times keep rolling at Netflix, which announced it added more than 10 million subscribers in Q2.
It’s all the tech news that’s popular right now. Welcome to Hashtag Trending. It’s Monday, July 20, and I’m your host, Alex Coop.
The Wall Street Journal is reporting that Disney is planning on reducing its spending on Facebook and Instagram amid concerns about the social media platform’s content policy enforcement, or lack thereof. Disney joins a long list of companies that have already cut back on Facebook ads, pushing Facebook to change how it handles hate speech and misinformation dotting its platforms. Other companies not part of the formal #StopHateForProfit that have pulled ads from Facebook and other social platforms included Coca-Cola, Lego, Starbucks, and Unilever. And Microsoft suspended its advertising on Facebook and Instagram through August.
Who doesn’t love Fortnite? Well, I bet the parents from this story don’t. A teenage Fortnite fan allegedly spent almost $20,000 in Twitch donations and subscriptions last month without his parents’ knowledge. The mother, who preferred to remain anonymous to protect the identity of her son, told Dot Esports that her teenage child charged nearly $20K to a debit card between June 14 and 30. As of this recording, the parent says she has not been able to get the money back.
And lastly, Netflix continues to profit from lockdown orders around the world and welcomed another 10.1 million new subscribers in the second quarter of this fiscal year. The streaming giant also revealed it is appointing 20-year veteran Ted Sarandos — considered “the architect” of Netflix’s wildly lucrative original-programming strategy — as its co-chief executive. He will helm the company alongside current CEO Reed Hastings, at a time the streaming market hurtles toward its saturation point. Netflix boasts 192.95 million subscribers globally, including 66 million in the U.S.
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