Yahoo is set to officially shut down GeoCities by the end of 2009. The free personal web-page host, which Yahoo acquired in 1999, is a relic from the Web 1.0 era, which cost Yahoo an estimated $4.6 billion. The service will be shuttered as part of CEO Carol Bartz's cost cutting initiatives, something Yahoo should have down roughly 6 years ago.
Apple's iPhone App store surpassed one billion downloads. The store, which launched less than a year ago, has been a great success for Apple, as well as an additional source of revenue. The App store has been so successful that it reached a billion downloads more than 2 years faster than the iTunes music store.
Amazon posted a strong financial report, with net revenue up 24% year over year. In total, the e-tailer's revenue hit $4.89 billion, surpassing many analyst's expectations. Amazon's report, as well as Apple's, are positive signs of consumer behavior during uncertain economic times.
Microsoft's fiscal report was hit hard this quarter, with the company's net income down 32%. The software manufacturer blamed a weak economy, as well as lack of demand for PC's, for falling short of analyst's expectations. While all is not well at Redmond, sales of company's popular Xbox360 were up 30% during the quarter, with 1.7 million units sold.
At an event hosted by the MPAA in Washington, Vice President Joe Biden told the crowd that the President Obama will appoint "the right person for intellectual property czar." Biden, a long time friend of the entertainment industry, noted that piracy was "pure theft" and chastised other countries for not protecting copyright laws.
Shelly Palmer is a consultant and the host of MediaBytes with Shelly Palmer a daily show featuring news you can use about technology, media & entertainment. He is Managing Director of Advanced Media Ventures Group LLC and the author of Television Disrupted: The Transition from Network to Networked TV (2008, York House Press) and the upcoming, Get Digital: Reinventing Yourself and Your Career for the 21st Century Economy (2009, Lake House Press). Shelly is also President of the National Academy of Television Arts & Sciences, NY (the organization that bestows the coveted Emmy Awards). You can join the MediaBytes mailing list here. Shelly can be reached at shelly@palmer.net For information about Get Digital Classes, visit www.shellypalmer.com/seminars