June 5 2023 - WWDC Day

👋Happy Monday friends. Well, today is the day. We've got all the news leading up to today's event and a roundup from the weekend. Let's get into it–

Quick Take

• Apple WWDC starts at 10a PST / 1p EST - head over to Apple.com to watch
• DGA has an approved labor deal with studios/streamers
• Twitter is about to have a new boss

Apple is set to hold its biggest product launch event in nearly a decade, where it will introduce its first major new product category since the Apple Watch. The event will feature the unveiling of a mixed-reality headset, likely named the Reality Pro or XR Pro, along with a new operating system called xrOS. In addition, new Mac laptops and desktops will be showcased, along with software updates for various platforms. Apple will also highlight updates to its services related to fitness, health, and finance, as well as emphasize the integration among its devices.

Hollywood studios and streamers have made a tentative labor deal with the Directors Guild of America, which is set to be submitted for approval by the board. The three-year agreement includes wage increases, higher streaming royalties, and a recognition that artificial intelligence cannot replace union members. The deal is set to be submitted for approval at a DGA board meeting on Tuesday. This agreement provides some labor peace for the studios amidst stalled negotiations with striking writers. This comes as the writers' strike moves into its second month.

Employment in advertising, public relations, and related services in the United States jumped by 2,600 jobs in May, reaching its highest level since 2001.

Lululemon has reported strong Q1 earnings, with a net revenue increase of 24% to $2 billion and a gross profit increase of 32% to $1.2 billion. The company experienced significant growth overseas with a 60% net revenue increase internationally, and plans to open 30 to 35 stores overseas this year, mostly in China. This news has caused Lululemon's stock to surge by 13%.

• The WGA is set to continue its strike action at Apple Park on Monday, the same day as Apple's WWDC. The WGA has been on strike for a month and will carry out an "Apple Day of Action," protesting at Apple stores in five US cities. The union is demanding fairer pay for writers and protections to make writing a sustainable profession, citing the growth of Apple TV+ as a streaming service that relies heavily on teams of writers for its programming.
• Meta is testing a temporary block for one to 5% of its 24 million Canadian users that will prevent them from accessing news content on Facebook and Instagram, with the test set to run until the end of June. The move is a response to a proposed bill called the Online News Act that would require tech giants to pay publishers for using their content online, and if the bill passes, Meta has stated that it will permanently block news content for Canadian users on its platforms. The bill is currently being considered in the Canadian Senate and could pass this month.
• Incoming Twitter CEO Linda Yaccarino has hired former NBCUniversal executive Joe Benarroch to join her at the social-media company in a business operations role. Yaccarino is expected to take over as CEO on Monday.
• Shell has launched a global review of its media account, currently managed by WPP's EssenceMediacom, prompting activists from environmental campaigning group Extinction Rebellion to protest outside EssenceMediacom’s offices in central London, urging the agency not to repitch for the account.

• Disney is set to record a $1.5 billion impairment charge in the current quarter after removing certain content from its direct-to-consumer services, including Disney+ and Hulu, leading to the potential loss of $1.9 billion. Global subscribers to Disney+ also dropped by four million in the second quarter, coming in at 157.8 million.
• Amazon is reportedly in talks with US-based carriers, including Verizon, AT&T, and T-Mobile, about offering Prime subscribers free or cheap phone service, according to Bloomberg. Talks have only been ongoing for six to eight weeks.
• Ella Irwin, the head of trust and safety at Twitter, has resigned from her position. Irwin took over from Yoel Roth in November, and during her tenure, oversaw some contentious periods at Twitter. It is currently unknown who will fill her role.
• Apple is looking to hire generative AI experts with experience in “Conversational and Generative AI”. Bloomberg's Mark Gurman shared a new job posting on Apple's jobs board, leading him to believe "there will be an on-device way to create AR/VR apps on the headset — eventually"
• PNC Bank has appointed Arnold Worldwide as its integrated marketing and advertising agency of record in order to increase national brand awareness. Havas Media Group will handle media strategy and planning. The agency's work will focus on creating a unified PNC Bank brand and delivering integrated creative and media across all lines of business.
• Apple's new patent reveals an XR Headset Gaze Control System that allows users to control or move objects using hand gestures in AR/VR/MR/XR environments. The system uses cameras and depth mapping to interpret different users' hand gestures.

• IBM's emphasizes personalization and speed at it's flagship event
• Brands are recognizing the value of older influencers on TikTok
• Allstate stops offering new policies in California due to challenging climate conditions
• Judge overseeing Disney lawsuit removes himself
• YouTube now allows false claims about past U.S. presidential elections on its platform
• Spider-Man: Across the Spider-Verse dominates the box office
• Maryland school district sues Meta, Google, and TikTok over alleged contribution to student mental health crisis
• JPMorgan Chase is addressing customer complaints of double payments on Zelle
• Microsoft is ending support for Cortana

Haha just kidding, AI will do it

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