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<ul class="summary-list"><li>Discord is launching Video Quests, its second ad format, as it looks to grow its ads business.</li><li>Video Quests reward viewers with in-game items or profile enhancements for watching ads.</li></ul>The gaming-focused chat app Discord is readying the launch of its second ad format, part of a plan to steadily grow its ads business ahead of a potential initial public offering.Video Quests will reward viewers for watching a video ad, such as with an in-game item, a skin for a character in that game, or a way to augment how their profile appears on Discord.The ads will initially appear in the lower-left area of the app on desktop, via mobile banners, and in the Quests home page.Discord first rolled out ads earlier this year when it introduced Quests — now known as Game Quests — which let games developers and publishers offer users in-game rewards if they streamed their gameplay from a specific game with friends.Until then, Discord had <a target="_blank" class="" href="https://www.wsj.com/articles/a-social-network-without-ads-discord-defies-convention-11615199401">eschewed advertising</a> over concerns it would be too intrusive and that users wouldn't want to share their data with marketers.That's why the company is taking a deliberately slow-and-steady approach to advertising. Both Quests formats are only currently available to games developers and publishers, though Peter Sellis, Discord's SVP of product, said the company would be open to having conversations with gaming-adjacent brands over time.Activision Blizzard's World of Warcraft, Epic Games' Fortnite, and HoYoverse's Genshin Impact have run Quests on Discord this year."Discord is a place where you play games with your friends, so game-related ads feel really good," Sellis told Business Insider in an interview. "We have to be really careful with how we use that kind of superpower."For now, Quests can only be bought directly from the Discord sales team — there's no self-service facility or integrations with third-party ad-buying platforms.<div type="image" title="A Discord Game Quest ad." height="967" width="1440" msid="113915662" hostid="261" sizebytes="58544"></div>Advertisers can target their campaigns by age, geography, and a user's gameplay history. Sellis said the cost of an overall campaign tends to be large but that they are "competitively priced" versus other platforms such as Netflix that launched their ad businesses with sky-high CPMs — the cost-per-mille, or the cost to reach 1,000 impressions — only to later bring them down."Those other platforms gave gone to market with very premium CPMs, sometimes $50-plus in some cases; at Discord we're looking at something that's half of that or even less," Sellis said. (<a target="_blank" class="" href="https://www.businessinsider.com/snap-snapchat-layoffs-peter-sellis-discord-2022-9">Sellis previously worked</a> on business products at Snap, which also came out of the gate with <a target="_blank" class="" href="https://www.businessinsider.com/snapchat-discover-ad-rates-2015-3">large CPMs</a> when it first offered ads on Snapchat.)He added that the design of Quests lends itself to users sharing content with their friends, which boosts the overall impressions a campaign is likely to generate.<h2 id="9001a00a-7836-4fd0-acb8-334ba4e774a6">Discord ad revenue could one day become 'on par' with its subscription business</h2>Growing Discord's advertising revenue will be crucial as the nearly 10-year-old company looks to turn a profit and plot a path towards a potential IPO.Discord's chief executive, Jason Citron, <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-03-07/discord-to-offer-rewards-for-gamers-as-app-seeks-profit-in-2024">told Bloomberg</a> in March that "at some point, we'd probably go public." The company has raised around $1 billion in investment to date, according to PitchBook.Right now, the company generates the vast majority of its revenue from its Nitro subscription service, where users pay either $2.99 or $9.99 a month to unlock benefits like high-definition streaming, custom emojis, and the ability to upload larger files. Otherwise, Discord is free to use. It also makes money by taking a 10% commission from developers who sell their games on Discord and when users pay to boost their communities — known as servers — to a bigger audience.<div type="image" title="Peter Sellis, Discord svp of product, headshot" height="3285" width="4380" msid="113915657" hostid="261" sizebytes="330508"></div>The company is expected to generate around $600 million in annual revenue this year, Bloomberg reported in March."I do foresee that advertising could be a very significant contributor to our business, on par with our subscription business, long-term," Sellis said.Discord is currently growing its in-house advertising ranks. It recently hired Adam Bauer, formerly of FaZe Clan, as its <a target="_blank" class="" href="https://digiday.com/marketing/why-discord-is-making-key-hires-to-build-out-its-advertising-business/">VP of sales,</a> and it lists seven open ad sales roles on its careers site.But Discord is a late entrant in a crowded market. While Discord has grown to around 200 million monthly active users, competitors like Meta and Google have billions — as well as precision-targeting, measurement, and brand safety features that Discord doesn't yet offer. A laser focus on the gaming category could also limit its potential pool of advertisers.Hon-Ming Gianotti, strategic industries lead for games at the marketing agency Monks, said that "intimacy" is one of the platform's unique selling points that Discord should attempt to pitch to the advertising community."When you're communicating directly to a group of friends about specific labeled topics or a bunch of people with similar interests to you, you're in a very different type of mindset — you're seeking to actually socialize and communicating with people about real things rather than viewing a thing and reacting in the comments," Gianotti said.For advertisers, he added, "The benefit of being a filter or layer or entity that contributes to that intimate experience is exciting."

How Discord is laying the groundwork for ads to make as much revenue as subscriptions

In FY25, Punjab is set to experience financial challenges as its capital-to-revenue expenditure ratio is the lowest among all states, standing at just 6.2%, highlighted a research report by the <keyword id="19938957" type="General" weightage="100" keywordseo="National-Stock-Exchange" source="keywords">National Stock Exchange</keyword> (NSE). This means that for every rupee Punjab spends, a very small portion is being allocated towards capital expenditure, which is crucial for long-term <keyword id="19971350" type="General" weightage="20" keywordseo="infrastructure-development" source="keywords">infrastructure development</keyword>. In contrast, the research showed that the states like Gujarat lead the way with a much higher ratio of 36.2%, signaling a stronger focus on capital spending that can drive future growth. "The capital-to-revenue expenditure ratio, a measure of expenditure quality, is set at 20.7 % for FY25BE, declining from 21.2 % in FY24RE. Punjab has the lowest ratio at 6.2 %, while Gujarat leads at 36.2 %" said the report. The report also highlighted that the overall, capital expenditure by Indian states is expected to moderate in FY25 after three years of strong growth. It stated that the total capital spending for the fiscal year is estimated to increase by just 6.5 % to Rs 6.5 lakh crore. This is a notable slowdown compared to the sharp 39.3 % rise in FY24, which was marked by a post-pandemic push to boost infrastructure and public projects. The capital-to-revenue expenditure ratio, a key indicator of the quality of spending, is also set to decline slightly to 20.7 %in FY25 from 21.2 %in FY24, reflecting a more cautious approach by states. At the same time, revenue expenditure, which covers recurring costs like salaries, subsidies, and interest payments, is expected to grow by 8.9 % to Rs 44.2 lakh crore. This is the slowest growth in the last four years, indicating tighter control over everyday spending. "<keyword id="23614983" type="General" weightage="20" keywordseo="committed-expenditure" source="keywords">Committed expenditure</keyword> (interest payments and pensions), on the other hand, remains high, comprising about 24 % of total revenue expenditure and consuming nearly a quarter of revenue receipts" the report added. Despite this, the report noted that a large portion of revenue expenditure remains committed to non-discretionary costs. Interest payments and pensions alone account for about 24 % of total revenue expenditure and consume nearly a quarter of the revenue receipts, limiting states' flexibility in spending. Some states are more burdened than others by this committed expenditure. Punjab, Kerala, Himachal Pradesh, and Tamil Nadu have earmarked over 35 %of their revenue receipts for these fixed costs in FY25, putting additional pressure on their finances. This leaves less room for discretionary spending and makes it harder for these states to invest in development and growth-oriented projects.

Punjab's capital expenditure lowest in FY25 at 6.2% vs highest of Gujarat at 36.2%: NSE

<ul class="summary-list"><li><keyword id="19918985" type="General" weightage="20" keywordseo="Donald-Trump" source="keywords">Donald Trump</keyword> won the election with the help of personalities like <keyword id="20341465" type="General" weightage="20" keywordseo="Joe-Rogan" source="keywords">Joe Rogan</keyword>.</li><li>Rogan is a podcaster, right? Well, yes, but he's also a YouTuber.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-joe-rogan-tony-hinchcliffe-rally-election-campaign-2024-10">Podcasts played a huge role in getting Donald Trump re-elected</a> this week. Right? Or maybe it was Twitter. Or TikTok. Could be all of them. And it could also be that people interested in those mediums and platforms have reasons to want to believe they were important. But if you're going to look at the way the internet played a role in the election and you're not talking about YouTube, you're doing it wrong. So, once again: <a target="_blank" href="https://www.businessinsider.com/youtube-valuation-mrbeast-how-much-worth-2024-3">YouTube is massive</a> — so massive <a target="_blank" href="https://abc.xyz/assets/71/a5/78197a7540c987f13d247728a371/2024q3-alphabet-earnings-release.pdf">it generated $50 billion in revenue over the last year</a>, with the majority of that coming from advertising. Advertisers are spending that money because that's where the eyeballs are. And certainly, some of those eyeballs consumed a lot of political/election content over the last year. <a target="_blank" href="https://www.pewresearch.org/journalism/fact-sheet/social-media-and-news-fact-sheet/">Pew Research</a> says 32% of American adults regularly get their news from YouTube — more than any other social media platform except for Facebook, at 33%. And I'm very confident — based on my non-scientific poll of my teenage sons, who inhale YouTube — that those numbers are way, way bigger for young people. What do people who watch political stuff watch on YouTube? In some cases, it's just another version of TV: Fox News reportedly drew as many as 1.1 million concurrent viewers for its election-day livestream on YouTube. That was about 10% of its conventional TV audience, but still notable for a platform that skews very young. Overall, YouTube viewers consumed 67 million hours of live streams on Election Day, per <a target="_blank" href="https://fortune.com/2024/11/06/youtube-election-news-trump-harris-twitch-rumble-stream-fox-nbc/">Streams Charts</a>. But what was most interesting about the election was the way the Trump campaign spent the summer embracing YouTube personalities. Starting with people you've heard of, like Joe Rogan, down to ones you may have never heard of before this year, like the <a target="_blank" href="https://www.youtube.com/FULLSENDPODCAST">Nelk Boys</a>. Wait a minute! I can hear you saying. Isn't Joe Rogan a podcaster? Absolutely. But Rogan, like many other creators/influencers/personalities, creates content that lives on multiple platforms at the same time. You can listen to his <keyword id="20677488" type="General" weightage="20" keywordseo="podcasts" source="keywords">podcasts</keyword> on Spotify, but you can listen to them — and watch them — on YouTube. And that happens way more often than you might think. <a target="_blank" class="" href="https://www.edisonresearch.com/youtube-is-the-preferred-podcast-listening-service/">Edison Research</a> says YouTube — including both regular, free YouTube and YouTube's paid YouTube Music service — is the most popular way for people to listen to (or watch) podcasts. You can see it in some of the numbers. <a target="_blank" href="https://www.youtube.com/watch?v=hBMoPUAeLnY">Rogan's October interview with Trump</a> has drawn a staggering 47 million views (note: Don't try comparing this to a TV rating, since YouTube reportedly counts a "view" as 30 seconds of watching — and someone who watches for a bit, stops and comes back to the same video later in the day, will count as a second view). <a target="_blank" href="https://www.youtube.com/watch?v=fRyyTAs1XY8">The one he did with JD Vance</a> this month is now above 15 million. But even <a target="_blank" href="https://www.youtube.com/@joerogan">a standard-issue Rogan interview</a> can generate 2 million views or more. And there is a universe of conservative podcasts, or podcasts that aren't political but are open to conservative guests that do big numbers on YouTube, from former Fox hosts Tucker Carlson and Megyn Kelly to former reality TV star Theo Von. Trump visited all of them. You can also find bits of their shows on places like Instagram and TikTok. But they focus their efforts on YouTube, for the reasons many creators do. For starters, you can find a big audience there. And YouTube's algorithmic discovery mechanism means creators can get themselves in front of audiences that weren't looking for them. Podcast audiences, by contrast, grow slowly — but tend to stick around once they connect with someone they like, says Chris Balfe, CEO of <a target="_blank" href="https://www.redseatventures.com/clients">Red Seat Ventures</a>, a company that helps the likes of Carlson, Kelly and The Free Press' Bari Weiss sell ads for their shows. And, unlike platforms like Instagram and TikTok — podcasters can get a meaningful share of the <keyword id="20015770" type="General" weightage="20" keywordseo="advertising-revenue" source="keywords">advertising revenue</keyword> generated by their YouTube audiences. (There are also liberal/left podcasters/YouTubers, like Crooked Media, the company behind Pod Save America. But there aren't nearly as many of them, and they don't have the same kind of reach, as journalist <a target="_blank" href="https://www.usermag.co/p/why-democrats-wont-build-their-own">Taylor Lorenz notes</a>.) So should we be calling these folks podcasters? Or YouTubers? Yes, says Balfe. "I think they're the same thing. We should think about it as a podcast plus a <keyword id="23944857" type="General" weightage="100" keywordseo="YouTube-election" source="keywords">YouTube election</keyword>," he says. "Or a <keyword id="20437786" type="General" weightage="20" keywordseo="creator-economy" source="keywords">creator economy</keyword> election. The best-performing talents do well everywhere." Correction: November 11, 2024 — Streams Charts is the name of the company that tallied Election Day YouTube live-stream viewing, not Stream Charts.

Let's call it the YouTube election

Dear readers, As we approach yet another weekend, here are some key developments across various sectors. Nvidia has surpassed Apple to become the world’s largest company, driven by the AI boom. Meanwhile, the US Federal Reserve cut interest rates, by 25 basis points to 4.75%, the second such reduction in 2024. In the workplace, Gen Z’s approach to mental health got attention, with one employee taking a week off after a breakup. Additionally, Indian banks are expecting steady growth, despite challenges in unsecured lending. Read on for all the details! <h2>Top stories from the week </h2> Indian banks to have steady growth in earnings over next 3-4 years, fees from unsecured lending may dip, notes Jefferies report Jefferies forecasts steady earnings growth for Indian banks over the next 3–4 years, with a 13% annual loan growth rate. However, a decline in unsecured lending could reduce fee income. While net interest income is expected to grow at 12%, challenges such as rising defaults and a potential dip in rate cuts could affect profitability. Despite this, banks’ return on equity and assets remain promising. <a href="https://www.businessinsider.in/finance/news/indian-banks-to-have-steady-growth-in-earning-over-next-3-4-years-fees-from-unsecured-lending-may-dip-notes-jefferies-report/articleshow/115048179.cms" data-type="tilCustomLink" target="_blank">Read more</a> Nvidia becomes world’s largest company amid AI boom, surpasses Apple in the race Nvidia has surpassed Apple to become the world’s largest company by market capitalization, driven by the AI boom. The company’s strong performance is fueled by surging demand for its chips used in AI technologies. With a market cap hitting $3.43 trillion, Nvidia continues to dominate the AI hardware sector, powering data centres and AI research. The company’s revenue growth of 122% YoY further cements its leadership in the AI space. <a href="https://www.businessinsider.in/business/news/nvidia-becomes-worlds-largest-company-amid-ai-boom-surpasses-apple-in-the-race/articleshow/115003223.cms" data-type="tilCustomLink" target="_blank">Read more</a> ‘He had a breakup and took a one-week leave’: Manager shares about his Gen-Z employee, internet reacts A manager’s tweet about granting a Gen Z employee a week off for a breakup sparked widespread debate. While the manager expressed frustration over project delays, internet users defended the employee’s mental health needs, criticizing the manager’s lack of empathy. Some supported the manager’s view, pointing out generational differences in work culture. The incident went viral, furthering discussions about Gen Z’s unique workplace expectations. <a href="https://www.businessinsider.in/careers/news/he-had-a-breakup-and-took-a-one-week-leave-manager-shares-about-his-gen-z-employee-internet-reacts/articleshow/115041747.cms" data-type="tilCustomLink" target="_blank">Read more</a> US Fed cuts interest rates by 25 bps, Powell notes Trump’s victory to have no impact on policy decisions The US Federal Reserve has cut interest rates by 25 basis points to 4.75%, the second such reduction in 2024. Fed Chairman Jerome Powell emphasized the Fed’s independence despite Trump’s criticism and suggested that the economic outlook remains uncertain, though the Fed is focused on inflation targets. Trump’s policies may lead to higher inflation, adding complexity to the Fed’s efforts to stabilize prices. Experts anticipate that bond yields will stabilize, benefiting emerging markets like India. <a href="https://www.businessinsider.in/finance/news/us-fed-cuts-interest-rates-by-25-bps-powell-notes-trumps-victory-to-have-no-impact-on-policy-decisions/articleshow/115070690.cms" data-type="tilCustomLink" target="_blank">Read more</a> Big Tech’s winners and losers from Donald Trump’s win, according to the market After Donald Trump’s election victory, tech stocks surged, with companies like Tesla seeing significant gains. Tesla’s rise was fueled by Trump’s public support for CEO Elon Musk. Conversely, companies like Apple faced challenges due to fears over potential tariffs on China. While some, like Google, might benefit from lighter regulations, others like Meta could face political challenges. Overall, the election results reshaped market expectations for Big Tech’s future. <a href="https://www.businessinsider.in/tech/news/here-are-big-techs-winners-and-losers-from-donald-trumps-win-according-to-the-market/articleshow/115067798.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Top web stories</h2> <a href="https://www.businessinsider.in/entertainment/webstories/donald-trump-on-screen-a-look-at-his-iconic-cameos/slidelist/115045250.cms" data-type="tilCustomLink" target="_blank">Donald Trump on screen: A look at his iconic cameos</a> <a href="https://www.businessinsider.in/india/webstories/8-lifestyle-mistakes-contributing-to-health-problems-in-india/slidelist/115051791.cms" data-type="tilCustomLink" target="_blank">8 lifestyle mistakes contributing to health problems in India</a> <a href="https://www.businessinsider.in/travel/india/webstories/10-magical-indian-experiences-every-traveller-should-try/slidelist/115052527.cms" data-type="tilCustomLink" target="_blank">10 magical Indian experiences every traveller should try</a>

Weekend wrap: Nvidia’s AI-driven surge, Indian banks’ steady growth and more

<ul><li><keyword id="113675" type="General" weightage="100" keywordseo="nvidia" source="Orion">Nvidia</keyword> is now the world's largest company</li><li>It has surpassed <keyword id="6354427" type="General" weightage="20" keywordseo="apple" source="Orion">Apple</keyword> </li><li>The company is ahead in the AI race</li></ul> In 2024, AI is the talk of the tech world and more and more companies are investing heavily in the emerging technology. But at the middle of the AI boom is Jensen Huang's Nvidia. And now, the company has claimed the top spot as the world’s largest company by market capitalisation, surpassing Apple in a significant shift propelled by surging demand for AI technology. <h2><keyword id="23825488" type="General" weightage="20" keywordseo="nvidia-overtakes-apple" source="Orion">Nvidia overtakes Apple</keyword> as world's largest company </h2> On Tuesday, Nvidia’s market cap hit $3.43 trillion, narrowly edging out Apple’s $3.38 trillion valuation. This milestone follows Nvidia’s previous brief leap over Apple in June, highlighting the fierce competition between these tech giants. <div type="Article" hostid="261" msid="114040583" title="I talked to an AI-powered NPC thanks to Nvidia! True to her character, she surprised me with her princess attitude" mstype="2" mssubtype="0"></div> According to a report in IANS, CEO Jensen Huang attributed the company’s rapid growth to the strong demand for its Hopper chips and anticipation for the upcoming Blackwell generation. These chips power AI research and data-heavy applications globally, solidifying Nvidia’s role in modernising data centres and expanding computing power. "Hopper demand remains strong, and the anticipation for Blackwell is incredible,” Huang said and added, “Nvidia achieved record revenues as global data centers are in full throttle to modernise the entire computing stack with accelerated computing and generative AI.” Nvidia’s revenue figures back its impressive rise. In the second quarter ending July 28, the company reported a 15% quarterly growth and a massive 122% increase year-over-year, reaching $30 billion in revenue. For fiscal 2025, the outlook remains strong, with expected third-quarter earnings of around $32.5 billion. The company has also returned $15.4 billion to shareholders in the form of buybacks and dividends during the first half of fiscal 2025, maintaining a solid position of $7.5 billion left under its share repurchase plan. <h2>Why is Nvidia ahead in the AI race? </h2> The company has been a frontrunner in the AI race as it makes advanced computer chips that power AI technologies. These chips are essential for running complex AI tasks, like training large language models (e.g., ChatGPT) and supporting advanced data processing in data centres. Nvidia’s GPUs (graphics processing units) are particularly good at handling many tasks at once, making them ideal for AI work. While other companies also make computer chips, Nvidia’s focus on innovation in AI hardware has allowed it to stand out and stay ahead of the competition. <div type="Article" hostid="261" msid="113902265" title="Nvidia’s ChatRTX could be your alternative to ChatGPT for reading long documents, and it doesn’t need an internet connection" mstype="2" mssubtype="0"></div> On a related note, Apple has also made strides in the market with its smaller-scale AI efforts like Apple Intelligence, which was rolled out to users recently. Microsoft, another major contender, holds a market cap of $3.06 trillion and remains a strong player in the tech landscape.

Nvidia becomes world's largest company amid AI boom, surpasses Apple in the race

<ul class="summary-list"><li>Spotify is going after YouTube's video podcast dominance with a new revenue program for creators.</li><li>It will soon share revenue with creators based on how much their videos are viewed.</li></ul>Spotify seems to be tired of playing second fiddle to <a target="_blank" class="" href="https://www.businessinsider.com/youtube">YouTube</a> when it comes to <a target="_blank" class="" href="https://www.businessinsider.com/leaked-deck-how-spotify-competing-for-video-ad-dollars-2024-8">video podcasting</a>.It's launching a new program in January to pay creators a cut of subscription earnings and ad revenue for video podcasts, starting in the US, Canada, the UK, and Australia.The company also announced it would no longer insert ads into video podcasts for Spotify premium subscribers. That could drive up video consumption on the platform as fans look for an uninterrupted streaming experience. Not all ads will disappear from video podcasts, however. Creators can still record their own host-read ads inside podcasts."By giving you guys, the creators, another path to monetization beyond ads, we're freeing you up to do what you like doing, which is creating," Spotify CEO Daniel Ek told a crowd of creators and industry professionals during the company's Now Playing event on Wednesday, hosted at Spotify's Los Angeles campus.Spotify said payments for non-ad-supported video podcasts would be calculated based on how much a creator's content is viewed. The company did not specify the rates it would use for creator payments. To qualify for the revenue-share program, a creator must upload and host content through Spotify, have 10,000 streamed hours from 2,000 unique users in the previous 30 days, and have at least 12 episodes published.The company's <a target="_blank" class="" href="https://www.businessinsider.com/how-to-grow-video-podcast-spotify-according-to-creators-2024-7">push into video podcasting</a> and its attempts to woo creators make sense given the competitive landscape it faces. YouTube is the top platform for podcast streaming in the US, according to an April <a target="_blank" href="https://www.westwoodone.com/blog/2024/07/08/youtubes-growth-as-a-podcast-power-player-revealed-in-cumulus-media-and-signal-hill-insights-podcast-download-spring-2024-report/">survey</a> conducted by Cumulus Media and Signal Hill Insights. Thirty-one percent of weekly podcast consumers who responded to the firms' survey said they used YouTube the most for podcast listening, followed by Spotify (21%), and Apple Podcasts (12%).Outside its creator monetization program, Spotify also announced on Wednesday that it rebranded its "Spotify for podcasters" program to "Spotify for creators," signaling a desire to draw in a wider set of video and audio talent to its platform. The company is rolling out a new mobile app experience that highlights creator analytics and monetization and is offering features like podcast clips, where creators can promote episodes by uploading vertical short-form video clips.Spotify's stock has been riding high this week after it reported Q3 earnings. The company showed increased profitability (as measured by gross margin) and added 6 million net paying subscribers, bringing its total to 252 million paying subscribers.

Spotify takes aim at YouTube with a new revenue-sharing program for creators

<keyword id="20069374" type="General" weightage="20" keywordseo="IT-services" source="keywords">IT services</keyword> firm <keyword id="19924892" type="General" weightage="20" keywordseo="Tech-Mahindra" source="keywords" meta.keywordsubtype="org" meta.entityname="Tech Mahindra" meta.hostid="261" meta.entityid="Tech Mahindra">Tech Mahindra</keyword> on Saturday reported a more than two-fold jump in its consolidated <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> to Rs 1,250 crore for the July-September quarter, driven by special income from the sale of assets. The Mahindra Group company posted a net profit of Rs 493.9 crore in the year-ago period, according to an exchange filing. Revenue rose by 3.49 per cent to Rs 13,313.2 crore in the second quarter of 2024-25 compared to Rs 12,863.9 crore in the same quarter of 2023-24. "Other income includes gain on sale of property of Rs 4,502 million which comprises of freehold land and its related buildings along with the furniture &amp; fixtures sold for a consideration of Rs 5,350 million, receivable over a period of four years along with interest of 8.2 per cent p.a," the company filing said. Sequentially, net profit rose by 46.81 per cent and revenue by 2.36 per cent. "We continue to progress on our strategic improvement efforts even as the overall IT services industry has remained soft. "We have focused on strengthening client relationships and expanding the partner ecosystem while maintaining a sharp focus on operational excellence through project Fortius, which has resulted in an expansion of margins for the third sequential quarter," Tech Mahindra CEO Mohit Joshi said. The CEO unveiled Project Fortius in April, a three-year plan to achieve a 15 per cent operating margin with a focus on organic growth. "This quarter we see consistent performance around increasing deal wins, <keyword id="19965932" type="General" weightage="20" keywordseo="revenue-growth" source="keywords">revenue growth</keyword>, cost optimisation and steady free cash flow generation as we continue our journey towards FY27 stated targets. In line with our capital allocation policy the board has declared an interim dividend of Rs 15 per share," Tech Mahindra CFO Rohit Anand said. The company's TCV (<keyword id="23580531" type="General" weightage="20" keywordseo="Total-Contract-Value" source="keywords">Total Contract Value</keyword>), or net new deal wins, stood at USD 603 million in the second quarter of FY25. Joshi further said the company is on the right path for a long-term sustainable transformation, with its leading indicators moving in the right direction, and its 'Scale at Speed' narrative resonating in the market. "We have invested in strengthening the capabilities in the focus service lines by broadening the leadership and investing in technical specializations. "We continue to invest in strengthening our fresher hiring program, building the right mindset and future skilling and associates, by building capabilities in AI-first and cloud-first skill sets," he told reporters. Investments shall continue in creating and sustaining an outcome-driven learning organisation and cultivating a high-performance culture based on the pillars of simplifying, clarifying, innovating and driving a high-performance orientation, he added. This year could be volatile because we are in the turnaround phase, Joshi said. "I am confident, however, that the platform is being set for a long-term, valuable franchise thanks to a high-calibre and united leadership team and a clearly articulated strategic plan," Joshi said. The Pune-headquartered firm added 6,653 employees during the quarter under review, bringing the total staff count to 1,54,273. Shares of Tech Mahindra settled at Rs 1,688 apiece on the BSE on Friday, down 0.68 per cent from the previous close. SEE ALSO:<a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms" target="_blank"></a> <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms" target="_blank">Best credit cards for online shopping this festive season</a><a href="https://www.businessinsider.in/stock-market/webstories/waaree-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114350114.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/waaree-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114350114.cms" target="_blank">Waaree Energies IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms" target="_blank">Best smartphones under ₹25,000 in India in October 2024</a>

Tech Mahindra profit jumps over 2-times to ₹1,250 crore in Jul-Sep quarter

<ul class="summary-list"><li>YouTube dominates streaming TV viewing, surpassing Netflix in 2023 viewership metrics.</li><li>Streaming now accounts for 39% of TV viewing time, with YouTube leading for 12 months.</li></ul>People are catching on to the fact that YouTube is ruling TV.Streaming is quickly replacing traditional TV, and the place people are spending much of their time watching streaming video is YouTube.The Google-owned video platform dominated streaming TV viewing for all of 2023, ahead of Netflix, by one widely cited measurement. YouTube is increasingly becoming today's "must-see" TV for people, especially younger generations, with free videos uploaded by creators like MrBeast; free, ad-supported shows and movies from big Hollywood distributors like Disney, Warner Bros. Discovery, and Paramount; and live sports via YouTubeTV add-on, <a target="_blank" href="https://www.businessinsider.com/youtube-lands-nfl-sunday-ticket-deal-2-billion-per-year-2022-12?r=youtube-revenue-lp">NFL Sunday Ticket</a>,It's also pitching itself as a one-stop entertainment shop with Primetime Channels, a 2-year-old service that lets users subscribe directly to streaming services like Showtime, Starz, and Paramount+ through YouTube.YouTube is winning with advertisers because it can service everyone from local pizza shops to CPG giants like Procter &amp; Gamble.Here's a breakdown of YouTube's rise and what it means for other entertainment players competing for people's attention and the advertisers trying to reach them.<h2 id="00f9fd10-3d89-4d8b-ba2a-ea8cc4a05c77">How big is YouTube's viewership and user base?</h2>Any way you slice it, YouTube is enormous. It's the most used Android app after TikTok, with users averaging 28 hours a month, according to a <a target="_blank" href="https://datareportal.com/reports/digital-2024-global-overview-report">widely cited data report from January 2024.</a> It was estimated to have the biggest social-media advertising audience, with 2.5 billion users per month, as of that January report.In streaming, which now accounts for nearly 39% of people's TV viewing time, YouTube has been winning hands down for some time now. YouTube dominated view time for 12 months in a row, <a target="_blank" href="https://www.nielsen.com/insights/2024/colder-weather-and-nfl-playoffs-drive-increased-tv-usage-in-january/">according to Nielsen</a>. In May, YouTube accounted for 9.7% of viewing time, ahead of Netflix's 7.9%.With 500 hours of videos uploaded every minute, YouTube pitches itself as a place that serves every possible interest, from creator content to music, news, educational videos, and more.The Gauge, which Nielsen launched in 2021, isn't a complete picture of TV viewing. It only measures viewership on TV sets, not mobile devices. It also only includes free YouTube, not YouTube TV, YouTube's <a target="_blank" href="https://www.businessinsider.com/youtube-tv-google-fastest-growing-product-leaked-numbers-2023-11">fast-growing pay TV service</a>. Based on paid subscriptions, Netflix still reigns, with about 270 million subscribers worldwide.Meet the <a target="_blank" href="https://www.businessinsider.com/youtube-power-list-2020-33-insiders-leading-the-company-2020-4?r=youtube-revenue-lp">33 people with the most power at YouTube</a>, the world's biggest online video companyLooking at media consumption another way, Nielsen recently released its Media Distributor Gauge, which reflects total viewing by media distributors across broadcast, cable, and streaming. With those platforms included, YouTube takes second place in monthly TV viewing, behind linear giant Disney, which had an 11.5% share.Still, there's no denying YouTube's enormous reach, which it has leveraged to become an advertising powerhouse.<h2 id="7e2fd4f3-c440-45e6-b563-4aa6e96f7899">YouTube quarterly revenue hit $8.1 billion, but some brands still shy away</h2>YouTube's user-generated content continues to concern big brands that insist on major quality control. It doesn't seem to have discouraged them too much, however. YouTube had $8.1 billion in advertising revenue in the first quarter of 2024, up 20% over the year-ago quarter, while linear TV revenue is declining as audiences shift over to streaming.Learn how <a target="_blank" href="https://www.businessinsider.com/youtube-faces-new-challenges-in-bid-for-tv-streaming-ads-2023-11?r=youtube-revenue-lp">YouTube faces challenges</a> as rivals offer TV streaming scale for the first timeYouTube also benefited when the Hollywood strikes shut down TV productions, leading advertisers to look for alternatives to network TV.Read about how YouTube is <a target="_blank" href="https://www.businessinsider.com/tv-upfronts-youtube-plan-to-capitalize-top-streaming-status-2024-5?r=youtube-revenue-lp">pitching Madison Ave</a> for TV dollars<h2 id="165d8086-b670-40f0-a089-eedd65e80dc4">How YouTube became a TV giant</h2>YouTube touts its revenue-sharing model to fund creator content as a key strength, saying that, unlike the traditional Hollywood studio model, it ensures that it continually produces hits. YouTube trumpeted that in the past three years, it paid out <a target="_blank" href="https://blog.youtube/inside-youtube/shorts-revenue-sharing-update">$70 billion</a> to creators, artists, and media companies, which makes it a bigger spender on content than Netflix.Read Business Insider's analysis of YouTube's <a target="_blank" href="https://www.businessinsider.com/youtube-not-netflix-is-big-threat-to-hollywood-analysis-2024-2?r=youtube-revenue-lp">domination of the living room</a>Along the way, it's launched products that promise a high-quality environment for advertisers, like YouTube Select, which <a target="_blank" href="https://www.businessinsider.com/youtube-launches-youtube-select-for-70-billion-tv-market-2020-5?r=youtube-revenue-lp">lets advertisers run ads on</a> the top 5% of its most popular programming. In 2023, YouTube reached a deal to make NFL's Sunday Ticket games an add-on for YouTube TV subscribers.Read Business Insider's story about how <a target="_blank" href="https://www.businessinsider.com/youtube-tv-fourth-biggest-pay-tv-cable-broadband-bundle-google-2024-2?r=youtube-revenue-lp">YouTube has become one of the biggest pay-TV services</a> in the USYouTube's reach in entertainment stretches beyond TV viewing. In February, it <a target="_blank" href="https://blog.youtube/news-and-events/youtube-music-premium-100-million-subscribers/">announced</a> that it hit 100 million subscribers to YouTube Premium and Music, including free trials. YouTube Premium is a $13.99 a month service that includes features like ad-free viewing, offline viewing, and YouTube Music (which is ad-free). YouTube Music is $10.99 a month. <a target="_blank" href="https://www.businessinsider.com/youtube-tv-fourth-biggest-pay-tv-cable-broadband-bundle-google-2024-2?r=youtube-revenue-lp">YouTube TV</a> is a $72.99 a month bundle of TV channels.See new data showing how YouTube's <a target="_blank" href="https://www.businessinsider.com/youtube-has-become-must-have-service-ahead-of-netflix-2024-6?r=youtube-revenue-lp">push into other entertainment services</a> is beating Netflix in the fight to be a 'must-have' service<h2 id="2f587e93-6904-4446-a6e1-a35d317c5b81">How YouTube works with creators</h2>YouTube has lately been <a target="_blank" href="https://blog.youtube/inside-youtube/shorts-revenue-sharing-update">touting</a> how much it pays out to creators. It says it now shares revenue with 25% of creators in its YouTube Partner Program through Shorts, its TikTok competitor. Those <a target="_blank" href="https://www.businessinsider.com/how-much-money-youtube-pays-for-1000-views-creator-rpm?r=youtube-revenue-lp">creators get 45% of the ad revenue</a> generated (after an undisclosed amount goes to record labels) on those videos, which run 60 seconds or less; creators of long-form videos get 55% of the ad revenue.Read more about how <a target="_blank" href="https://www.businessinsider.com/how-much-money-youtube-pays-for-1000-views-creator-rpm?r=youtube-revenue-lp">YouTube pays creators</a>YouTube emphasized that creators are making money from the platform in other ways. YouTube is also promoting gen AI tools that it's giving creators to boost their videos and music.Learn <a target="_blank" href="https://www.businessinsider.com/how-much-influencers-get-paid-on-instagram-tiktok-youtube#directly-from-youtube?r=youtube-revenue-lp">how influencers get paid and make money</a> on TikTok, Instagram, and YouTube<h2 id="ba706781-6519-4256-b1b5-05020b72462e">Young people prefer YouTube over Netflix and Disney+</h2>A common knock on YouTube is that it's largely low value. Yet, tell that to younger people, who prefer to spend time with YouTube over entertainment stalwarts from <a target="_blank" href="https://www.businessinsider.com/disney-bought-owns-hulu-valuation-explained-whats-next?r=youtube-revenue-lp">Disney</a> to <a target="_blank" href="https://www.businessinsider.com/warner-bros-discovery-announces-details-of-new-streamer-max-2023-4?r=youtube-revenue-lp">Warner Bros. Discovery</a>.YouTube dominates in areas important to Gen Z (user-generated video) and not where it matters less (<a target="_blank" href="https://pro.morningconsult.com/trend-setters/gen-z-interest-in-watching-sports">live sports)</a>.New research from Deloitte shows members of Gen Z prefer to watch social video and livestreams (47%) about twice as much as TV shows (24%) and four times as much as movies (11%). Surveys also show similar patterns among Gen Alpha.Those preferences could change as they age, but that would entail changing not just what they watch, but their preferred devices.Explore why Gen Z's preference for YouTube is a <a target="_blank" href="https://www.businessinsider.com/streamers-like-netflix-disney-max-have-a-gen-z-problem-2024-3?r=youtube-revenue-lp">problem for streamers like Netflix and Disney+</a><h2 id="21af02c6-099c-42be-83db-091eb456a5d8">What YouTube's rise means for Netflix and other entertainment companies</h2>YouTube's hold on young people suggests a brighter future for YouTube than Netflix and traditional media companies, whose businesses depend on subscriptions as well as advertising.Deloitte found that Gen Zers were three times more likely to be influenced by ads on social media than streaming.The survey found that people of all ages are questioning the value of streaming media, where subscription prices have been rising, and about half feel it's hard to find something to watch.Legacy entertainment companies have come to treat YouTube as a distributor, acknowledging they can't very well ignore its enormous reach. But in doing so, they're playing on a platform whose rules they can't control.Read how a <a target="_blank" href="https://www.businessinsider.com/gaggl-tv-gen-z-creator-startup-twitch-founders-2024-4?r=youtube-revenue-lp">new startup from 2 Twitch alums</a> is trying to get Gen Z to watch TV<h2 id="02f14016-7316-47c9-8eb2-3182f347a0c4">YouTube's dominance faces fresh challenges</h2>YouTube's dominance has made it the target of critics. It's been <a target="_blank" href="https://www.bloomberg.com/news/articles/2019-07-15/youtube-s-trampled-foes-plot-antitrust-revenge">accused</a> of violating children's privacy. <a target="_blank" href="https://www.reuters.com/technology/youtube-critics-ask-us-probe-video-sites-living-room-dominance-2024-06-12/">Critics</a> have asked the government to probe Google and YouTube's dominance.It also continues to face brand safety concerns by advertisers as well as increased competition now that all the major streamers have ad tiers. YouTube's user-generated content continues to concern big brands that insist on more quality control, while other streamers say they guarantee a low-risk environment for advertisers.YouTube's reputation got renewed attention in June 2023 when advertising analytics company Adalytics <a target="_blank" href="https://www.wsj.com/articles/google-violated-its-standards-in-ad-deals-research-finds-3e24e041">shared research</a> showing Google violated its standards when it ran advertisers' video ads on other websites. A <a target="_blank" href="https://www.businessinsider.com/ipg-mediabrands-privacy-alert-pause-google-performance-max-ads-2023-8?r=youtube-revenue-lp">subsequent Adalytics report</a> alleged YouTube served ads that may have led to improper tracking of kids online. Google has disputed those reports.Finally, many advertisers have become fed up with Google's dominance of the ad ecosystem (which is now under <a target="_blank" href="https://www.cnbc.com/2023/01/24/doj-files-second-antitrust-lawsuit-against-google.html">antitrust scrutiny</a>) and <a target="_blank" href="https://www.businessinsider.com/how-much-streaming-ads-cost-amazon-netflix-youtube-disney-2023-11?r=youtube-revenue-lp">have more options</a> to spend their marketing budgets these days.

How YouTube became a TV powerhouse and how much ad revenue it makes 

<ul class="summary-list"><li>Warner Bros. Discovery says it will beef up ads on its Max streaming service.</li><li>Max serves fewer ads per hour compared to other streaming platforms.</li></ul>You could soon see more ads on <a target="_blank" class="" href="https://www.businessinsider.com/warner-bros-discovery-merger-compete-netflix-disney-streaming-david-zaslav">Warner Bros. Discovery</a>'s Max streaming service.WBD said Thursday it would step up ads in <a target="_blank" class="" href="https://www.businessinsider.com/warner-bros-discovery-announces-details-of-new-streamer-max-2023-4">Max</a> as it — along with other media players — looks to improve the profitability of its <a target="_blank" class="" href="https://www.businessinsider.com/streaming-strategy-spend-billions-wrong-netflix-disney-paramount-warner-bros-2023-2">streaming business</a>.In response to a question about the future of its streaming ads business, streaming chief JB Perrette said it was the "very early innings of what we call ad scale.""On the ad load side, we are light," Perrette said during the company's third-quarter earnings call. "We have a very light ad load compared to everyone else in the market, so there's room to grow on the capacity side."Max had 3.4 minutes of ads per hour as of the fourth quarter of 2023, which was <a target="_blank" class="" href="https://www.businessinsider.com/warner-bros-discovery-announces-details-of-new-streamer-max-2023-4">lower than most of the other streamers</a>.Perrette said Max would continue to take a lighter touch when it comes to its prestigious HBO content, however. Last year, it <a target="_blank" href="https://www.businessinsider.com/warner-bros-discovery-planning-streaming-ads-on-hbo-originals-2022-12">introduced pre-roll and sponsorship ads</a> to HBO shows but refrained from inserting ads in the middle of shows.Perrette also said Max is still in the early stages of selling its ad-supported tier and introducing new ad formats."On the pricing and ad capacity side, we're very early in terms of ad format innovation to drive more creative formats for partners and marketers to work with us," he said. "So those three levers are going to provide a great amount of scale, so I think we're in early innings in the advertising revenue growth stream."One of the big appeals of streaming initially was that it offered ad-free viewing. All the major streamers now have ad tiers, and while they started with a low number of ads per hour, ad loads are expected to creep up over time to make the numbers work. The newest player in streaming ads, <a target="_blank" href="https://www.businessinsider.com/amazon">Amazon,</a> recently said it would increase its ad load in Prime Video after <a target="_blank" href="https://www.businessinsider.com/amazon-prime-video-preview-shake-up-tv-ad-marketplace-2024-1">rolling out ads to the service in January.</a>Media players are still cognizant of not going back to the days of cable, though, where the ad loads can be twice that of streaming — or more."As others add a lot of inventory, we really like the idea that we're not doing that. You're not going to be interrupted watching 'House of the Dragon' or 'White Lotus,' at least for the foreseeable future," WBD president and CEO David Zaslav said on Thursday's earnings call. "We think part of the quality is the quality of the experience."Execs didn't give a timeframe for the changes. It's possible it'll wait until it names a new ad sales chief. The role is currently held by Jon Steinlauf, <a target="_blank" class="" href="https://www.businessinsider.com/jon-steinlauf-wbd-top-ad-salesman-to-leave-internal-memo-2024-10">who's set to leave the company by year's end</a>.WBD <a target="_blank" class="" href="https://www.businessinsider.com/warner-bros-discovery-announces-details-of-new-streamer-max-2023-4">rolled out Max</a> in 2023 with ad-supported and ad-free tiers, combining HBO's premium content and originals like "Succession" with Discovery+'s reality programming like "90-Day Fiancé" and Warner Bros. films and the DC Universe.For the third quarter, WBD reported Max had its strongest quarterly gain in subscriptions since launching, adding 7.2 million subscribers for a total of 110.5 million. It also reported streaming profits of $289 million, up from $111 million in the year-ago quarter.Still, Max is a minor player in streaming, capturing just 1.2% of monthly streaming TV time in September, tied with Paramount+ and ahead only of Pluto TV, according to <a target="_blank" href="https://www.nielsen.com/data-center/the-gauge/">Nielsen</a>. Rival Netflix, by comparison, added 5.1 million subscriptions in its most recent quarter and now has 282.7 million subscribers in total.

Warner Bros. Discovery says it will beef up ads on its Max streaming service

<ul class="summary-list"><li>KKR is in talks to acquire adtech firm Integral Ad Science, sources told Business Insider.</li><li>IAS appointed investment bank Jefferies to explore options after receiving takeover interest.</li></ul>Private equity firm KKR is in talks to acquire the publicly listed adtech company Integral Ad Science, three people familiar with the process said.It couldn't be immediately determined whether the discussions were at an advanced stage, and the plans could change.One of those people and an additional source said other potential acquirers had also expressed an interest in IAS but didn't offer further information. All of the people asked for anonymity to protect their business relationships; their identities are known to Business Insider.<a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-10-25/integral-ad-science-is-said-to-explore-potential-sale?embedded-checkout=true">Bloomberg</a> reported last month that IAS had appointed the investment bank Jefferies to explore its options after receiving takeover interest. IAS shares popped more than 10% on the news at the time.KKR and IAS declined to comment.Founded in the US in 2009, IAS offers technology that advertisers use to measure the quality and performance of their ads and to help them avoid their campaigns appearing next to unseemly content. It also offers solutions to publishers that help them verify that their ads are viewable, fraud-free, and placed in suitable environments for brands.IAS has recently signed new or expanded partnerships with major tech companies like Google, Amazon, and Reddit. In its second quarter, the company grew revenue by 14% to $129 million and raised its full-year guidance. IAS is due to report its third-quarter earnings on November 12.A take-private deal by a private equity firm like KKR could help IAS grow further without the quarterly Wall Street scrutiny. IAS was previously private equity-owned after Vista Equity Partners acquired it in 2018. Vista retains a more than 40% stake in IAS, which went public in 2021.KKR already has an ad industry footprint. It has stakes in the public adtech company AppLovin, the corporate communications firm FGS Global, and the customer experience software provider Alchemer.(KKR was also a shareholder in Business Insider's parent company Axel Springer. In September, Axel Springer announced it would <a target="_blank" class="" href="https://www.axios.com/2024/09/19/axel-springer-kkr-break-up">separate</a> its media properties into a privately-owned company, while KKR retained the classifieds side of the business.)KKR has <a target="_blank" class="" href="https://ir.kkr.com/app/uploads/2024/10/KKR-Q324-Earnings-Release.pdf">over $600 billion</a> in assets under management.<a target="_blank" class="" href="https://www.businessinsider.com/private-equity-firms-investing-in-advertising-and-marketing-companies-2024-3#kkr-7">Ted Oberwager</a>, a partner at KKR who leads its gaming, entertainment, media, and sports verticals, told BI earlier this year that the firm was looking to invest in companies that had "great teams and leaders who can navigate the rapidly shifting advertising, marketing, and communications landscapes."IAS fiercely competes with ad verification rival DoubleVerify, which is larger in terms of annual revenue and has a market capitalization of $3.3 billion to IAS's $1.99 billion as of publication time.Both companies came under recent <a target="_blank" class="" href="https://www.businessinsider.com/doubleverify-integral-ad-science-face-fresh-brand-safety-scrutiny-2024-6">scrutiny</a> after a series of reports found their advertiser clients had run ads in <a target="_blank" class="" href="https://adalytics.io/blog/ai-brand-safety">unsavory</a> corners of the web, such as sites with graphically violent, racist, or pornographic content — despite using the companies' brand safety software. The companies have disputed those reports' methodologies and findings.Publishers have also <a target="_blank" class="" href="https://www.businessinsider.com/integral-ad-science-doubleverify-help-brands-avoid-coronavirus-news-2020-3">criticized</a> brand safety methods such as keyword blocking and exclusion lists — words that trigger ads to be blocked on a webpage — as blunt instruments that unfairly demonetize their content. IAS and DoubleVerify have said they have refined their brand safety tools by pushing further into areas like AI and other technologies that analyze the context and semantics of an article.

Private equity giant KKR is in talks to acquire the adtech company Integral Ad Science

<ul class="summary-list"><li>Randy McCabe left Google, and now he has earned over $1 million in five years on Fiverr.</li><li>He left corporate jobs due to stress and inflexibility and found balance with freelancing.</li></ul>This as-told-to essay is based on a conversation with <a target="_blank" href="https://exoagency.com/">Randy McCabe</a>, a 36-year-old freelancer, digital marketing agency owner, and former Google employee from Seattle. It's been edited for length and clarity.I <a target="_blank" class="" href="https://www.businessinsider.com/dream-job-google-great-perks-nightmare-commute-2024-9">worked at Google</a> for nearly two years, starting in 2016 as an account manager. I loved my time there.The employees were friendly, the directors encouraged growth, and the on-site gym and free food were fantastic. But when my position was outsourced, we had the opportunity to look into joining other teams; instead, <a target="_blank" class="" href="https://www.businessinsider.com/remote-google-employee-relocation-request-denied-care-for-sick-dad-2024-8">I quit</a>.I found a new job, then I gradually started taking freelance digital marketing gigs on the side and later created my digital marketing agency. In five years, I've made over $1 million on one platform, and I'm so happy with the growth I've seen. I used four strategies to help me successfully <a target="_blank" class="" href="https://www.businessinsider.com/how-build-freelancing-businesses-ai-chatgpt-upwork-millennial-transferrable-skills-2024-3">pivot to freelance</a>.<h2 id="e436a468-5e73-44db-8733-fb7b2b9c71d8">Working for companies stressed me out</h2>After Google, I joined the cybersecurity startup Skybox Security as a digital marketing manager. My rigid eight-to-five schedule left little room for flexibility in my personal life.When I was preparing for a major project launch, I found myself staying late at the office night after night and continuing the work from home. The urgency and immediate deadlines from management made me feel <a target="_blank" class="" href="https://www.businessinsider.com/overworked-years-until-child-realized-work-doesnt-care-2024-7">constantly tethered to work</a>, and I was stressed out knowing that requesting time off might make management unhappy.I transitioned to freelance when I noticed other online marketers freelancing on the side.<h2 id="23a14e54-1e61-4708-9686-231dd9b62035">Fiverr helped me earn $1 million and gradually grow my business</h2>I began taking freelance gigs on platforms like Fiverr in 2018 to leverage my skills outside of work. I liked <a target="_blank" class="" href="https://www.businessinsider.com/how-to-make-money-on-fiverr-freelance-writer-writing-jobs-2023-7">Fiverr's platform</a>, and it allowed me to gradually build my business while initially still keeping my primary job. It took about a year to gain momentum as I dedicated more time and effort. Within a year and a half, I'd reached my first $100,000 on Fiverr.When COVID hit, I was <a target="_blank" class="" href="https://www.businessinsider.com/laid-off-6-times-cant-find-job-50s-retirement-worry-2024-7">laid off</a> along with the entire marketing department at Skybox. Fortunately, I'd built strong customer relationships on Fiverr, which gave me the confidence to transition to full-time freelancing.One of the toughest challenges in transitioning from <a target="_blank" class="" href="https://www.businessinsider.com/american-millennial-quit-corporate-job-move-abroad-europe-germany-spain-2024-11">corporate to freelance</a> work was the uncertainty of not having a guaranteed monthly paycheck. However, once I transitioned to Fiverr full-time, I consistently achieved over $300,000 in annual sales.Within six months of freelancing, I also launched a digital marketing agency called Exo Agency.Today, I'm still working with Fiverr and my agency, and I couldn't be happier with the growth. It was one of the best decisions I've ever made.<h2 id="ef232dd3-8e86-4e4d-bfa6-c81f4afa3c55">Four strategies helped me pivot to freelancing and make seven figures in five years on Fiverr</h2><h3 id="8c519d09-b56e-456a-ace0-8c2fa392bc90">1. Identify a niche.</h3>Since my background is in marketing and I had experience working at Google, I decided to focus on providing Google Ads Campaign setup and management services for small businesses. I delved into understanding client needs to set myself apart and increase earnings on the platform.<h3 id="e6cc9989-e39f-4fb6-9a5d-66ae13747557">2. Showcase skills and expertise.</h3>I created a comprehensive <a target="_blank" class="" href="https://www.businessinsider.com/how-to-make-your-online-portfolio-really-work-for-you-2014-3">work portfolio</a>. One of the projects I included in my portfolio was a marketing campaign that resulted in a 30% increase in sales for a client's product. Including this campaign in my portfolio proved my creative abilities and showed my direct impact on the client's increased revenue.<h3 id="c2da056d-e4d9-4178-b49b-7fbd8ff24df0">3. Market your services.</h3>To market myself and my Google Ads and SEO services, I made a Photoshopped poster that effectively showcased the value of my services and relevant highlights. I included a Google Partner badge with my Google Ads gigs, showing that I've met all of the performance, ad spend, and certifications. This led to more inquiries and more revenue from my services through the platform.<h3 id="530fbcae-da91-4d68-8be5-521629c162ae">4. Stay Organized</h3>I ensured I met all deadlines and delivered high-quality work by using a project management tool. I rely heavily on Google Sheets and <a target="_blank" class="" href="https://www.businessinsider.com/google-calendar">Google Calendar</a> in my daily routine to ensure I meet all deadlines and that each project receives dedicated attention.This level of organization and attention to detail allowed me to take on additional projects — and ultimately increase my freelance income.<h2 id="694138f1-7bfb-46ce-8439-9607a168252d">I'm 100% happier working for myself</h2>I have more control over my schedule and can more effectively <a target="_blank" class="" href="https://www.businessinsider.com/work-life-balance-financial-goals-raising-son-2024-7">balance my work and personal life</a>. I decide when to take a break and take care of myself without feeling guilty or worried about being unavailable to my clients.I also have complete control over the amount of work I take on, allowing me to focus on customer service and results. As a result, I'm not only more productive but also more fulfilled in my personal life.If you quit Big Tech and would like to share your story, please email Tess Martinelli at tmartinelli@businessinsider.com.

I left Google and am 100x happier in my new role as a freelancer — I've earned over $1 million in revenue in the last 5 years.

<ul class="summary-list"><li>YouTube launched a gifting feature for its vertical livestreams, mirroring TikTok's model.</li><li>ByteDance, which owns TikTok, has dominated e-commerce in China.</li></ul>YouTube is adding a "gifting" feature for vertical livestreams that allows users to purchase digital gifts for streamers, similar to a feature that fuels livestream sales on TikTok.Creators who receive the gifts through the program will earn "rubies," which are redeemable for one cent each, the company said in its announcement this week.TikTok's LIVE Gifts feature operates similarly. It lets app users purchase "coins" that can be used to buy virtual gifts of monetary value for livestreaming creators. Creators on TikTok who receive the gifts can also earn "diamonds," which the company <a target="_blank" class="editor-rtfLink" href="https://support.tiktok.com/en/live-gifts-wallet/tiktok-live/live-gifts-on-tiktok">rewards based on the popularity</a> of the livestream. Users can use diamonds to obtain "reward payments" from TikTok in the form of money or virtual items.E-commerce through livestreaming platforms has become a lucrative and competitive channel for revenue. In 2022, total US e-commerce sales exceeded $1 trillion, Forbes reported. Live shopping accounted for about $20 billion of that. Livestream e-commerce in the United States is expected to grow to $68 billion by 2026, according to Statista, a data research firm.TikTok parent company ByteDance has dominated livestreaming e-commerce in China through TikTok's sister app, Douyin. Douyin generates <a target="_blank" class="editor-rtfLink" href="https://affiliate.insider.com?h=e54b484532789f314b635c6d0830451432638ce3089beed16d5b0b23d8dfe87c&amp;postID=6736796a12ccc579828c6ef5&amp;postSlug=youtube-gifting-feature-tiktok-livestream-e-commerce-competition-2024-11&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Ftiktok-parent-bytedances-e-commerce-volume-surged-in-2022-internal-data-show">hundreds of billions</a> in annual sales, primarily through influencer livestreams. Over the last few years, ByteDance has expanded its e-commerce footprint into the rest of the world's markets through TikTok.The TikTok Shop also lets creators <a target="_blank" class="" href="https://partner.us.tiktokshop.com/">partner with the app</a> to sell their own products and other products through affiliate links. Last month, TikTok <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/tiktok-shop-us-partner-summit-live-shopping-and-douyin-ruled-2024-10">gathered 300 TikTok Shop partners</a> in a hotel near its office in Culver City, California, for its first e-commerce summit in the United States. The creators participated in feedback sessions with TikTok staffers and shared ideas on influencer affiliate marketing, with live selling the focus of the event, five attendees previously told Business Insider.Google is also looking to expand its own shopping feature. YouTube Shopping allows creators to make "collections" of products that viewers can purchase. YouTube shopping is available in the United States and China, and Google expanded the feature to Indonesia this week, the company said in a release.To grow its market share, Google is incentivizing creators to get in on YouTube's new gifting feature early. The company said eligible creators can receive a 50% bonus on received gifts of up to $1,000 for the next three months.Gifts on vertical YouTube livestreams will appear as an overlay on the livestream video, "enhancing the live experience and creating a new way for you and your viewers to interact and have fun," Google said.

YouTube has added a 'gifting' feature to its vertical streams, ramping up the competition for livestream e-commerce

In a post-budget interaction with industry stakeholders today, <keyword id="20419783" type="General" weightage="20" keywordseo="revenue-secretary" source="keywords">Revenue Secretary</keyword> Sanjay Malhotra highlighted that the government aims to comprehensively review the <keyword id="19985623" type="General" weightage="20" keywordseo="Direct-Tax-Code" source="keywords">Direct Tax Code</keyword> within the next 6 months, and it is too early to say whether or not that would entail any significant overhauls. However, "we would like to have a collaborative approach for its implementation, and would certainly present the draft for public opinion” Malhotra added. Buybacks taxed as dividend Starting October 1, 2024, the amount received by the shareholder on buyback of his/her shares by the company will be treated as dividend income, and will be taxable at the hands of shareholders. Also, the cost incurred by the investor to acquire those shares will not be allowed as a deduction against the income, but can be set off as a capital loss, only against other <keyword id="20619608" type="General" weightage="20" keywordseo="capital-gains" source="keywords">capital gains</keyword>, for a maximum of 8 subsequent years Malhotra explained the government's rationale behind this proviso, noting that buyback does not fundamentally alter the company's capital structure, and like dividend distribution, is a way for the company to give out its surplus. Moreover, it is up to the investor, whether or not they want to participate in a buyback or not. Hence, going ahead, funds from buyback will be deemed as dividend income. Credit on TCS paid Previously, in case your employer has already deducted TCS (tax collected at source) from your monthly salary, it would not be accounted for, or considered while calculating your annual tax liability. As a result, it had to be claimed back separately as a refund, resulting in duplication of processes. However, effective April 1, 2025, salaried employees will be able to adjust the TCS they've already, previously paid while calculating their tax due. The Old tax regime heading towards a sunset? While the officials have given no clarity on this, they noted that the idea of taxation is not to push people into investing, saving or buying insurance for the sole purpose of saving taxes as the old regime did. "It is a moral debate on whether tax regimes are supposed to push people towards financial planning measures like buying health or life insurances. However, as we go ahead, the focus will entirely on greater, more deep-rooted focus on how tax filing and compliance can be simplified and transformed into a hassle-free, smooth process. The new tax regime was finding increased grounding amongst both investors and corporates. For the previous assessment year, 2/3rd of total taxpayers had opted for the new tax regime, while 58% of corporate tax flows had come via them. Loss of indexation benefit only psychological Raman Chopra, Joint Secretary, CBDT, <keyword id="19908390" type="General" weightage="20" keywordseo="Ministry-of-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Ministry of Finance" meta.hostid="261" meta.entityid="Ministry of Finance">Ministry of Finance</keyword> noted that scrapping away indexation benefits is only psychological, and tax payers will not have to bear any real losses as such. "Indexation was a complicated process. Think of this as the cost of simplification of the tax process. Now, we only have two holding periods across all asset classes, making it easier. While indexation benefits continues for properties purchased before 2001, investors continue to receive rollover benefits in case they find that their tax incidence under the reduced tax rates is high.

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