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Discover the transformative software development trends of 2024, which will help you drive innovation, cost-efficiency, and growth for your business.

The software development landscape in 2024 is in for a massive overhaul. It will bear little resemblance to the practices and tools we have become accustomed to over the past decade.

We’re entering an era marked by incredibly advanced artificial intelligence, automation that can rival human capabilities, and evolved cloud infrastructures tailored for specific industry needs (industry cloud platforms). The very definition of what constitutes a “developer” may also shift as low-code/no-code development plays an increasingly prominent role in democratizing app building and fostering the emergence of ‘citizen developers.’

In this dynamic environment ripe for innovation and change, staying informed and proactive is not just advantageous– it’s crucial. These impactful trends will significantly influence business and technology decisions for years to come. Moreover, with software market revenue expected to reach US$698.80 billion in 2024, the stakes are higher.

Our blog explores the key trends shaping software development in 2024, delving into the latest advancements backed by numbers and analysis. It aims to help uncover the opportunities and challenges that lie ahead in the ever-evolving world of software development.

1. AI-augmented development

AI was all abuzz in 2023 and will keep its popularity in 2024. AI technologies, such as generative AI (GenAI) and machine learning (ML), can augment and speed up the entire software development lifecycle.

AI-augmented development tools seamlessly integrate with engineers’ environments,

• Helping produce code quickly
• Translating legacy code to modern languages
• Facilitating design-to-code
• Enhancing testing

It boosts developer productivity, meeting the rising demand for business-critical software.

2. Emphasis on Cybersecurity

Cybersecurity remains unparalleled and a top priority for organizations in 2024 as cyber threats become more sophisticated and frequent. Continuous adoption of the cloud, remote/hybrid work setups, IoT devices, and pervasive integration of technology in every aspect of our lives– are some factors driving the need for robust, holistic security.

In addition, AI has created a new security scare for organizations. Gartner projected a double-digit increase across all segments of enterprise security spending in 2024.

In light of these growing cyber risks, developers are adopting a multifaceted approach and exploring innovative strategies such as AI/ML-driven threat detection, zero-trust architecture, and cybersecurity mesh, with a notable emphasis on DevSecOps integration.

3. Surge in low-code/no-code development

The combination of increasing demand for digital solutions, new use cases for low-code/no-code (LCNC) platforms, and the rise of AI– all point to a surge in this trend in 2024. Furthermore, it is diversifying, with industry-specific platforms catering to unique needs.

LCNC platforms allow virtually anyone to develop software without traditional coding skills via drag-and-drop modules, pre-written features and templates, configurations, etc. They are relatively easy to use and cheaper than traditional software development.

Thus, companies of all sizes are jumping on the trend for faster development, reduced costs, and empowered “citizen developers.” It also helps alleviate the shortage of software engineers, democratizing development and quickly testing product ideas.

4. Industry cloud platforms

Industry cloud platforms (ICPs) are one of the key trends driving cloud adoption. ICPs are designed to meet the specific needs of vertical industry segments that generic solutions do not address adequately. This can encourage businesses in highly regulated industries such as finance services, healthcare, and manufacturing to embrace the cloud.

ICPs address industry-relevant business outcomes by combining underlying Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS) services into a whole product offering with composable capabilities. Organizations can use their modular and composable approach to be adaptable, agile, and innovative in the fast-changing digital landscape.

5. Platform engineering

It is another emerging technology approach that will see wider adoption in 2024. It involves self-service internal developer platforms built and maintained by a dedicated product team. These platforms are designed to support the needs of developers and other end users by providing a curated set of tools, capabilities, and processes. The goal is to enable frictionless developer experience, boost productivity, and accelerate the delivery of business value.

Platform engineering emerged in response to the increasing complexity of modern software architectures. It is now one of the hottest topics in the DevOps community.

6. Further adoption of AR/VR

AR, VR, and mixed reality (MR) are transforming digital interactions across various sectors, with the global market projected to hit 100 billion USD by 2026. Key drivers for the surge in AR/VR adoption include expanded hardware options, improved immersive experiences through AI and spatial computing, and growing affordability.

Other exciting developments to look for in 2024 include hyper-realistic VR, expanded social VR platforms, and AI integration for personalized experiences.

46.3% of organizations believe that integrating AR/VR with GenAI shows great potential, opening new doors for industries like education, customer service, healthcare, and more. For instance, Brilliant Lab’s Frame AI glasses can check the prices of clothing articles in retail stores or identify a home listing by glancing at it.

7. Microservices

The microservices market is also growing significantly, fueled by increased adoption of cloud, serverless, DevOps, and containers, along with the need for secure, cost-effective IT operations. Microservices break down applications into smaller independent services, facilitating agility and scalability.

2024 will also see a rise in event-driven microservices usage in cloud-native applications (driven by the emergence of new programming models) and multi-runtime microservices or MACH architecture (Microservices-based, API-first, Cloud-native, and Headless). Superapps and AI/ML integration will further drive innovation in the microservices landscape.

8. Blockchain beyond finance

Blockchain in 2024 will transcend finance and cryptocurrencies and emerge as a transformative force in software development. Its core features– immutability, transparency, and security– are capturing the interest of diverse industries like healthcare, retail, and more.

Businesses worldwide are integrating blockchain, with Small and Medium Enterprises (SMEs) being the fastest. SMEs prefer cloud-based solutions that are flexible and affordable rather than investing in on-premises solutions. Hence, blockchain-as-a-service (BaaS) is also seeing a rise in adoption.

BaaS is the implementation and operation of cloud-based networks by a third party for firms that develop blockchain applications. Major cloud players like AWS, Microsoft Azure, and IBM Cloud also provide BaaS solutions.

9. Sustainable software development

Microsoft has recognized ‘Sustainable Software Engineering’ as an emerging discipline, and rightly so, with today’s climate crisis. Sustainable software development involves optimizing code, deploying resources efficiently, reducing data processing, minimizing stored data, selecting green hosting services, and so on.

Additionally, the emergence of FinOps and GreenOps reflects the increasing emphasis on cloud cost management and environmental sustainability. Cloud providers are offering tools to help customers optimize costs and reduce carbon footprint.

In 2024, we expect a significant increase in focus on GreenOps and cloud cost management, leading to improved cost efficiency, cloud resource utilization, and energy efficiency while reducing environmental impact.

Conclusion

Embracing these trends opens doors to unprecedented possibilities, letting you remain agile, forward-thinking, and ready to adapt to transformative advancements. However, to leverage these trends effectively, organizations must evaluate their potential impact and benefits relative to their specific situation and business goals.

By incorporating these trends strategically, businesses can enhance resilience, maximize data value, drive growth, and accelerate digital business.

Source: Simform

• 2024 is a crucial year for data center infrastructure and its landscape.
• The 2023 data center market faces power shortages and sees remarkable Asia-Pacific growth.
• Asia-Pacific growth, AI surge, and green energy shift in data centers.

Observations and forecasts this year indicate a global power shortage is hindering the growth of the data center market worldwide. Ensuring sufficient power supply is a primary concern for data center operators in key regions such as North America, Europe, Latin America, and Asia-Pacific. Secondary markets with ample power resources are becoming more appealing to data center operators.

In the Asia-Pacific region, data center inventories are expanding quickly, reaching substantial sizes. Tokyo, Sydney, and Singapore each now boast over half a gigawatt of operational power capacity, with Sydney’s capacity increasing by 30% from last year. However, limited power availability is a significant hurdle in some Asia-Pacific markets, despite the region’s potential and the growing interest in developing markets outside major cities.

2024: the year of AI-driven data center infrastructure

As the industry approaches 2024, it faces the intense demand for AI capabilities, while simultaneously grappling with the need to reduce energy consumption, costs, and greenhouse gas emissions. The widespread adoption of AI, predicted by Vertiv two years ago, brings with it both infrastructure and sustainability challenges, which are evident in Vertiv’s forecast of data center trends for 2024.

Vertiv CEO Giordano (Gio) Albertazzi emphasizes the significant impact of AI on data center densities and power requirements. He notes the critical challenge of supporting AI demand while reducing energy usage and emissions, calling for collaboration between data centers, chip and server manufacturers, and infrastructure providers.

Vertiv experts anticipate trends to dominate the data center sector in 2024, with AI playing a pivotal role in shaping new builds and retrofit strategies. The increasing demand for AI is pushing organizations to significantly modify their operations. Many existing facilities are not equipped to support the high-density computing AI requires, often lacking the infrastructure for liquid cooling.

In response, organizations are opting for new construction projects, increasingly using prefabricated modular solutions to expedite deployment, or undertaking large-scale retrofits to fundamentally transform their power and cooling infrastructure. These changes offer opportunities to implement greener technologies and practices, such as liquid cooling for AI servers and air-cooled thermal management for the entire data center.

Innovations in energy storage and efficiency

The pursuit of alternative energy storage solutions is gaining momentum. Innovations like battery energy storage systems (BESS) demonstrate potential for intelligent grid integration and reducing generator use. By adapting load management, BESS supports longer operational demands and can seamlessly integrate with alternative energy sources like solar or fuel cells. The anticipated rise in BESS installations in 2024 reflects a shift towards “bring your own power” models, aimed at fulfilling the capacity, reliability, and cost-effectiveness requirements of AI-driven demand.

For enterprises managing data centers, flexibility is becoming a key focus. Cloud and colocation providers are aggressively expanding to meet demand, but businesses with their own data centers are diversifying their investment and deployment strategies, particularly considering AI integration and sustainability goals. An emerging trend towards on-premise capacity for proprietary AI and edge application deployments is influenced by AI.

Many organizations are likely to invest incrementally, favoring prefabricated modular solutions and prioritizing service and maintenance to prolong the life of existing equipment. These measures optimize operations in maxed-out computing environments, improve energy efficiency, and reduce Scope 3 carbon emissions by extending the lifespan of current servers.

Vertiv’s role in data center infrastructure evolution

Vertiv, among many companies, is addressing energy efficiency by launching scalable UPS systems in Asia, suitable for edge and mid-sized applications. The company has introduced the Vertiv Liebert APM2, an energy-efficient and scalable power solution, to its UPS portfolio. Compatible with lithium-ion and VRLA batteries, the Liebert APM2 features a compact design ranging from 30kW to 600 kW. It offers considerable energy savings compared to less efficient alternatives and can parallel with up to four units for extra capacity or redundancy.

The Liebert APM2 stands out for delivering higher power output in a smaller footprint, essential for edge computing applications with limited space. Requiring up to 45% less space than its predecessor, the Vertiv Liebert APM, the Liebert APM2 offers diverse installation options, like in-row, in-room, against-the-wall, or back-to-back setups.

Security and cloud expansion in 2024’s data center landscape

With cloud spending projected to rise by 20.4% in 2024, the race to the cloud is intensifying, coupled with heightened security concerns. The ongoing shift to cloud services increases the demand on providers to expand capacity rapidly, especially for AI and high-performance computing, leading them to rely on colocation partners worldwide.

Security remains a top priority for cloud customers as they move more data offsite. Gartner reports that 80% of CIOs plan to increase cyber/information security spending in 2024, underscoring the importance of addressing the complex security challenges of varying national and regional data security regulations.

Cloud spending rises and security remains a top priority. (Generated with AI).

Paul Churchill, vice president and general manager at Vertiv Asia, has observed a significant uptick in AI investments and strategic alignment in Asia. He cites IDC’s forecast that by 2026, substantial investments will flow into AI/automation technologies. Vertiv is committed to assisting customers with the challenges of integrating AI, offering various solutions from modular systems to predictive maintenance services.

Churchill emphasizes the value AI adds in driving more efficient and sustainable IT systems, a trend that is increasingly shaping the future of the data center industry.

Source: TECH WIRE Asia

The surge in AI technology deployment and demand for more efficient cloud storage drives the growth of data centres globally, with the north and east of Johannesburg in South Africa a preferred location for big data centre operators, underscoring the country’s relevance in the global data centre landscape.

Areas including Midrand and Samrand in the north and Isando and along the R21 highway in the east already have a high concentration of data centres with the likes of Africa Data Centres, BCX, NTT, Vantage and Teraco.

Suitable available land attracts big data centre operators, however, the availability of electricity is a big consideration when choosing a location.

“Prime, well-positioned land close to existing infrastructure, including upgraded power substations, attracts operators as these sites have lower power costs,” says Calvin Crick, Managing Director of Transaction Services at Cushman & Wakefield | BROLL.

“Electricity is a huge factor for data centre operators. Luckily, municipalities understand this and are willing to assist where possible.”

Crick explains that the distance of a site from electrical substations directly impacts the amount operators spend on infrastructure upgrades to the electricity system, which ultimately cede to municipalities. In fact, in some instances, the cost of securing electricity surpasses the cost of acquiring land.

According to the 2024 Global Data Centre Market Comparison by Cushman & Wakefield, power became a paramount concern worldwide, with the increasingly limited availability of large blocks of power across major data centre markets. These power limitations have pushed data centre operators to further evaluate untapped and smaller markets worldwide. At the same time, artificial intelligence is substantially growing the demand for data centres worldwide, and altering both site selection strategy and data centre design.

This year’s report lists Johannesburg as the only African city in the top 10 established markets for data centres in the Europe, Middle East and Africa (EMEA) region, while Lagos is the only African city to be included in the top 10 lineup of EMEA emerging data centre markets. It also notes that, in Africa, emergent data centre clusters continue to gain momentum.

According to the report, land and power availability in many markets drive location decisions, with many operators turning to secondary and tertiary markets in search of new growth opportunities at reduced costs. African markets, including Johannesburg, Cape Town, Casablanca, Nairobi and Lagos, continue to offer lower-cost opportunities for data centre developers.

“Though growth in South Africa is muted due to macro-economic challenges – demand for digital infrastructure, and the need to optimise efficiencies, will push providers to develop new solutions and adopt alternative power sources to support new data centre growth,” says Crick.

Angus Murray, Head of Tenant Representation for Transaction Services at Cushman & Wakefield | BROLL, says a higher-for-longer interest rate environment globally has reduced interest in new data centres, especially in emerging markets, compared to 18 to 24 months ago.

“Many operators are ‘sticking to their knitting’ in their core markets. We expect that a reduction in interest rates will result in renewed demand for new data centres across Africa, albeit off a low base,” says Murray.

However, existing operators in South Africa, including Africa Data Centres, Teraco and Vantage Data Centres, continue to grow and expand.

Murray notes that Cape Town is a smaller market compared to Johannesburg. The city has a better electricity infrastructure, but land is expensive because there is less available.

“Cape Town generally serves smaller deployments than Johannesburg, but we are seeing new data centres being built or soon to be built, especially in the Brackengate area,” says Murray.

Outside of South Africa, less established emerging African markets are dominated by smaller operators and local African players. Big global players, who are generally more risk-averse, are still eyeing opportunities in key regional countries such as Kenya and Nigeria, where facilities provide basic data storage solutions to more complex cloud computing solutions.

“We expect to see increased interest in these two countries, with local operators continuing to favour smaller deployments in less mature emerging markets such as Tanzania, Angola, Ghana, and Senegal,” adds Murray.

Source: Tech Financials

LAGOS, Nigeria, 2nd May 2024 /African Media Agency (AMA)/- Telecommunications experts across West Africa have exposed trending innovations relying on telecoms infrastructure harping on the strategies that are crucial for the sustainability of telecommunications infrastructure to fast-track the regions digital economy.

Speaking at the second edition of the West Africa Telecoms Infrastructure Summit and Exhibtion (WATISE), with the theme: ‘Shaping the future of the telecoms infrastructure industry: Trends and Insights for a Digital Economy’ and organized by TechnologyMirror, an online telecoms news and information platform, held in Lagos, Southwest Nigeria, the experts x-ray critical issues that relates the survival of the telecoms industry using the Nigerian market as a reference point.

Leading the conversation, the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr Aminu Maida, in his keynote address which was on the theme of WATISE 2.0, noted that the journey towards a digital economy has a future that is paved with immense possibilities and profound challenges noting that “how we navigate this path will determine the role Nigeria plays in the global digital landscape.”

Maida who was represented by the Head of Next Generation Technology and Standard at the NCC, Engr Victor Adoga, described telecommunications infrastructure as the backbone of the digital economy, facilitating seamless connectivity and supporting a range of services from basic voice calls to high-speed internet and cloud computing.

He stated that the rapid growth of the digital economy demands robust, scalable, and secure telecommunications infrastructure disclosing that there are several key trends that are poised to shape the future of telecom infrastructure.

According to Maida, the rollout of 5G networks is a transformative trend in telecoms infrastructure saying that 5G promises significantly higher speeds, lower latency, and greater capacity, facilitating new applications such as IoT (Internet of Things), autonomous vehicles, smart cities and advanced augmented reality.

He listed other emerging trends affecting the deployment of telecoms infrastructure across the region as Internet of Things, Fiber Optic Expansion, Data Localisation and Security, Regulatory Frameworks, Cybersecurity and Energy Efficiency and Sustainability.

He however suggested that the telecoms operators must take consider strategic actions to stay in business saying that collaboration which is partnerships between government, industry, and academia can drive innovation and development.

He added that Innovative Financing Models, Investment in Human Capital, Focus on Sustainability, Integration with AI and Machine Learning and Developing Smart Infrastructure noting also as crucial investing in rural telecom infrastructure and making digital literacy a key component of our educational programs.

Still speaking on the theme of WATISE 2.0. Chief Executive Officer of WTES Projects Limited, Mr Chidi Ajuzie who joined virtually from Ethiopia said there is deluge of connectivity from submarine cable landings linking Nigeria to Europe and rest of the world.

According to him, while there is no centrally managed national transmission backbone, licensed Operators have, over the years, built transmission networks to meet their own needs, often duplicated on most routes.

He disclosed that the Universal Service Provision Fund (USPF) has carried out a detailed study to characterize basic telephony and ICT gaps in the country, identifying 97 clusters with varying population densities and a cumulative population of about 27.91 million that suffer from significant connectivity services gaps. Digital broadband gap is even more, estimated at over 100 million population.

Ajuzie stated that to reap the benefits of broadband, there is need to close the clear gaps existing in the metro middle- and last-mile segments of the connectivity value chain. New Connectivity will be required to bridge the gaps and meet the National Broadband targets.

In fireside chat on ‘Enhancing Rural Connectivity: Strategies for Expanding Telecom Infrastructure’, Tinuade Oguntuyi, Head Network and Solutions, at Information and Communications Services Limited (ICSL) said that that rural areas need better network services for proper communication and development.

Oguntuyi, who anchored the fireside chat urged the government to support network service providers to reach more rural places as they are also full of great potentials for the growth of the nation.

Also speaking, Ahmad Tijani, a local content ICT advocate commended Federal Government projects to connect the rural dwellers and harped on the need to carry the local government leaders along.

Tijani who represented Dr. Adebunmi Adeola Akinbo, National Secretary ICTLOCA, cited the challenge of data gathering which can be sorted by the local government, calling on the grassroots to add value to the nation growth.

In his welcome address, the Convener of WATISE, Isaiah Erhiawarien said that the second edition was a step towards ensuring a reliable telecoms infrastructure for the region, and thanked the Nigerian Communications Commission, Open Access Data Nigeria Limited, Digital Realty, ICSL, HyperSpace Limited and OneData Limited for believing in the dream of the organisers.

Source: The Marabi Post

New York, NY, May 07, 2024 (GLOBE NEWSWIRE) —
This partnership leverages SEALSQ’s commitment to develop a machine-to-machine (M2M) economy for digital assets through advanced security technologies.

SEALSQ Corp (Nasdaq: LAES) (“SEALSQ” or “Company”), a leader in semiconductor, PKI, and Post-Quantum technology development, today announced that in partnership with The Hashgraph Association, a Swiss-based organization at the forefront of global digital enablement, have launched a new digital asset built on Hedera Network that caters to the Decentralized Physical Infrastructure Network (DePIN) sector, by enabling billions of internet connected devices to autonomously engage in seamless data and currency exchanges. 

Under the umbrella of Transactional Internet of Things, (TIoT), SEALCOIN is a hybrid payment and utility token for enabling billions of internet-connected devices to autonomously engage in seamless data and digital asset exchanges. For example, IoT ( Internet of Things) devices from various companies can now interact and access a range of services as well as transactions. This could include smart home devices where SEALCOIN could facilitate seamless payment for services like energy consumption, maintenance, and other services without human intervention. The list of applications goes on to include supply chain management, autonomous vehicles, smart cities, energy trading and more. 

A significant milestone is being reached with the release of a M2M Proof of Concept (PoC) enabling the disintermediation of service providers for interconnected devices. The release is scheduled for mid-July 2024, with a comprehensive demo planned shortly thereafter, showcasing the innovative capabilities of SEALCOIN in enabling Service vs Payment transactions between machines.

Kamal Youssefi, President of The Hashgraph Association noted, “We are proud to have partnered with SEALSQ for the launch of such an innovative use case in the DePIN economy. The emergence of DePIN is a pivotal shift in the way physical infrastructure is designed, developed, and deployed. The Hedera network enables secure and seamless micro payments between all internet-connected devices and will further accelerate growth of the M2M DePIN ecosystem.”

SEALCOIN is expected to launch in Q4 2024 and will then be listed on a digital asset exchange. The launch will introduce the Purchasing and Tokenization of Certificates (MVP), marking a major step forward in bridging a strong physical network to the secure Digital infrastructure of Hedera’s network.

“Our vision with SEALCOIN is to redefine the boundaries of secured P2P transactions, in the physical and the digital world,” said Carlos Moreira, CEO of SEALSQ. “By cooperating with Hashgraph Association on SEALCOIN, we are not just introducing another Token; we are setting the stage for a future where transactions and services in the digital space are seamless, secure, and efficient. Our work to validate a M2M PoC, upcoming platform launch, to be followed by a strategic listing on a digital exchange, are all steps toward realizing this vision. We are excited about the future and invite the community to join us on this journey.”

About SEALSQ
SEALSQ focuses on selling integrated solutions based on Semiconductors, PKI and Provisioning services, while developing Post-Quantum technology hardware and software products. Our solutions can be used in a variety of applications, from Multi-Factor Authentication tokens, Smart Energy, Smart Home Appliances, and IT Network Infrastructure, to Automotive, Industrial Automation and Control Systems.
Post-Quantum Cryptography (PQC) refers to cryptographic methods that are secure against an attack by a quantum computer. As quantum computers become more powerful, they may be able to break many of the cryptographic methods that are currently used to protect sensitive information, such as RSA and Elliptic Curve Cryptography (ECC). PQC aims to develop new cryptographic methods that are secure against quantum attacks.
For more information, please visit www.sealsq.com

Forward-Looking Statements
This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipates will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the success and timeline of SEALCOIN’s launch; the timeline for and the successful release of the Machine-to-Machine (M2M) Proof of Concept (PoC); SEAL’s token Issuance and Exchange Listing before the end of 2024; SEALSQ’s ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ’s filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC.
SEALSQ Corp is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

About The Hashgraph Association
The Hashgraph Association is at the forefront of the digital enablement and empowerment of organizations through the broad adoption of Hedera-powered enterprise-grade solutions and decentralized applications, including funding training, innovation, and venture building programs globally. As a non-profit organization headquartered in Switzerland, The Hashgraph Association supports and funds innovation, research, and development that enables economic inclusion and a digital future for all, with a positive environmental, social, and governance (ESG) impact. For further information about The Hashgraph Association, visit www.hashgraph-association.com.

Source: Markets Insider

May 6 (Reuters) – Video streaming services saw a drop in downloads and active users during April, a research note by Bank of America showed on Monday, citing data from Sensor Tower, likely pressured by heated competition in the segment and an uncertain economic outlook.

Across all video streaming services, including Netflix (NFLX.O), opens new tab, Paramount (PARA.O), opens new tab and Walt Disney (DIS.N), opens new tab, downloads and monthly active users (MAU) declined 4% in aggregate, according to the note.

WHY IT’S IMPORTANT

The streaming companies are seeing a slowdown in growth across their categories, with some analysts pointing to several markets reaching maturity, especially in the U.S. and cooling in demand post the pandemic-driven boom.

BY THE NUMBERS

Netflix saw a decline of 6% in downloads and 8% in MAU, while Disney’s downloads fell by 26% and MAU by 10%. However, Warner Bros Discovery (WBD.O), opens new tab saw both year-on-year and month-on-month growth with about 11.8 million downloads and 48.6 million MAUs, said the research firm.

WHAT’S NEXT

Media companies are doubling down on international expansion, investing in sports streaming ventures and raising prices on their platforms to gain subscribers.

The weakness comes from streaming service providers pushing for ad-supported versions and password-sharing crackdowns to stay ahead in the streaming wars ignited by Netflix.

Source: Reuters

NEW YORK, May 6 (Reuters) – Walt Disney (DIS.N), opens new tab and Comcast (CMCSA.O), opens new tab are seeking to hire a financial adviser to resolve a dispute over how to value the 33% stake in streaming platform Hulu that the former will acquire from the latter, according to people familiar with the matter.

The move is in accordance with a deal the companies struck for Hulu last year. It is an action their contract foresees if JPMorgan Chase (JPM.N), opens new tab, which provided a fairness opinion on Hulu for Disney, and Morgan Stanley, which provided such an opinion for Comcast, are too far apart in their valuation assessments.

JPMorgan has valued Hulu for Disney at close to $27.5 billion, which is the floor valuation for Hulu that the companies had set as part of their 2019 “put-call” agreement, one of the sources said. Morgan Stanley valued Hulu for Comcast at more than $40 billion, another source said.

Disney and Comcast are now in talks to hire an investment bank that will independently value Hulu, the sources said, requesting anonymity because the matter is confidential.

Hulu, which boasts popular original titles such as “Shogun”, “The Bear”, “Prey”, and “Only Murders in the Building”, had 49.7 million subscribers at the end of Dec 2023, representing a growth of 2% from the September quarter.

In remarks at a Goldman Sachs conference last year, Comcast CEO Brian Roberts called Hulu a “scarce kingmaker asset” that is “way more valuable today” than when the deal was initially struck.

Disney has already completed the addition of Hulu to its Disney+ streaming service, which is home to titles such as “Moana” and “Frozen.”

In regulatory filings last year, Disney and Comcast had outlined that if the valuation reached by their two banks were within 10% of each other, a deal will be consummated at a valuation that is the average of the two appraisals.

Since the two appraisals are more than 10% apart, Comcast and Disney are jointly in talks to pick a third bank to do an independent appraisal, the sources said.

As per the terms of the agreement, if the third appraisal is closest to the valuation of that produced by Disney’s bank, the average of those two valuations will be the value at which the deal gets done.

Similarly, if the third appraisal is closest to the valuation of that produced by Comcast’s bank, the average of those two valuations is the value at which the deal gets done.

If the average of the third appraisal is below $27.5 billion, the final valuation will be $27.5 billion.

In 2019, Disney and Comcast signed an agreement for Hulu with an option strike date of January 2024, after Disney’s $71 billion takeover of Fox’s assets, including its minority stake in Hulu. The deal gave Disney majority control over Hulu as it already owned a 33% stake in the streaming service. Comcast retained its stake in Hulu at the time believing that its value would increase significantly by 2024.

In November last year, Disney agreed to take full control of Hulu and pay Comcast at least $8.6 billion for the remaining 33% stake, after Comcast triggered the deal as part of the 2019 agreement.

Source: Reuters

TECNO unveiled its latest innovative lineup of cutting-edge devices and AIoT products on the evening of April 2nd, 2024.

The electric atmosphere at the famous Landmark Event Centre, where the unveiling was held, provided the needed ambiance for an event that had in attendance the best of the best from the entertainment and tech worlds.

TECNO Assemble Stars

Reality TV stars Saga, Elozonam, and Liquorose added a touch of celebrity sparkle to the occasion as tech influencers Valor Reviews, Izziboye, Fisayo Fosudo, and Miss Techy brought their expertise to the forefront. Renowned actor Linda Osifo exuded charm and sophistication, complemented by the presence of beauty icons Akin Faminu and Enioluwa.

The fantastic orchestra CJ and Friends set the stage for the event with their electrifying performance before Toolz officially kicked off the event as the host, charming the audience and guiding them through the night’s proceedings. Luke Pan, TECNO Brand Manager, then took attendees on a captivating journey through TECNO’s evolution, highlighting its unwavering commitment to innovation, followed by tech experts Fisayo Fosudo, who provided insights into the features of the CAMON 30 series, then Amazing Klef took the audience through the functionality of the CAMON 30 camera, and finally Izzi Boye explained in detail the POVA Neo 6 and all the AIoT products on display.

IT NEWS NIGERIA gathered  that the highlight of the evening was the unveiling of TECNO’s groundbreaking new products, including the CAMON 30 series with its state-of-the-art camera technology and sleek design, promising to redefine the smartphone experience, and the POVA Neo 6 series, which raises the bar for performance and value.

The event also provided the audience with a first-class experience of TECNO’s latest innovations of AIoT products, including the innovative Megabook, Dynamic 1 Robotic Dog, Pocket Go, Watch Pro 2, and True 1 Earbud. These cutting-edge devices showcase TECNO’s dedication to seamlessly integrating technology into every aspect of our lives, from work to play and beyond. The night was topped off with outstanding performances from Magicxx, Reekado Banks, and Africa’s Bad Girl – Tiwa Savage.

TECNO’s latest innovations are redefining possibilities and shaping the future of innovation for generations. Don’t miss the chance to be among the first to experience the new CAMON 30 Series, now available with an impressive N20,000 discount and the option to purchase using EasyBuy with 0% interest.

Source: IT News Nigeria