AI
HarperCollins CEO Highlights Spotify's Audiobook Entry & AI's Publishing Impact
2024-12-10
At the UBS Global Media and Communications Conference on Tuesday, Brian Murray, CEO of HarperCollins, engaged in a discussion about the future of audiobooks and the influence of AI on the publishing industry. This event shed light on various aspects related to these emerging trends.

Spotify's Entry and Growth Plans

During the conference, Murray praised Spotify's entry into the audiobooks market. With a Spotify Premium subscription in supported markets, users get 15 hours of free listening. Murray explained that Spotify's approach was smart as it tapped into its existing large base of music and podcast listeners. This adjacent shift allowed them to monetize the audiobook listener. He also pointed out that while Amazon-owned Audible had focused on the core audiobook listener, Spotify's model reached out to the more occasional listener. This incremental growth in HarperCollins' business is a result of Spotify's successful entry strategy.

HarperCollins has a wholesale distribution deal with Spotify, where the publisher is paid on a consumption basis. This model is more direct compared to the streaming music model where a percentage of subscription revenue goes into a pool. Under this model, publishers can accurately determine authors' royalties from audiobooks.

Spotify is also working to address a "technical problem" with family plans, which currently limits audiobook streaming to the credit card holder. In the future, they aim to open up listening to all plan members. Reached for comment, Spotify stated that there is no technical issue but is testing the expansion of audiobooks in some markets.

Audiobooks vs. E-books

Murray noted that audiobooks continue to outperform e-books in terms of total revenues. This helps offset the declines from lagging e-book sales. It shows the growing popularity and significance of audiobooks in the publishing landscape.

The data clearly indicates that audiobooks are a lucrative segment, attracting more readers and generating substantial revenues. This trend is likely to continue as more people embrace the convenience and immersive experience of listening to books.

Compared to e-books, audiobooks offer a unique way of consuming literature. They allow readers to multitask while enjoying a story, making them accessible to a wider audience. This has led to a significant increase in audiobook sales and a shift in consumer preferences.

AI's Potential and Concerns

Beyond the risks associated with IP-based businesses, Murray expressed concerns about generative AI. He worried that it could lead to an explosion of lower-quality content competing for consumers' time and attention. However, he believes that higher-quality content will ultimately prevail.

Internally, AI is already showing potential in areas like marketing and selling. HarperCollins has dozens of initiatives across departments aiming to improve productivity through AI. This includes using AI to create audiobooks for smaller markets that were previously not feasible due to cost constraints.

AI also holds promise for book translations, expanding revenue opportunities. Further down the road, HarperCollins envisions how technology can help turn books into film. By using tools like OpenAI's Sora, they can generate movie or television scripts from manuscripts, speeding up the process and facilitating better communication with professionals in the film and television industry.

AI's Impact on Publishing

AI has the potential to revolutionize the publishing industry. It can assist in various aspects, from content creation to distribution. By leveraging AI, publishers can streamline their operations and reach a wider audience.

For example, AI can analyze reader preferences and behavior to recommend relevant books. This personalized approach can enhance the reading experience and increase customer satisfaction. Additionally, AI can help with editing and proofreading, ensuring higher quality content.

The integration of AI in publishing is still in its early stages, but the potential is vast. As technology continues to advance, publishers need to embrace AI to stay competitive and meet the evolving needs of readers.

YouTube's Auto-Dubbing for Knowledge Content Now Rolling Out
2024-12-10
YouTube made a significant announcement on Tuesday, revealing that its auto-dubbing feature, enabling creators to generate translated audio tracks for their videos, is now being rolled out to a significantly larger number of channels. This move is set to enhance the accessibility and understanding of content across the globe.

Empowering Global Content with YouTube's Advanced Auto-Dubbing

Informational Content and Auto-Dubbing

The auto-dubbing feature is now accessible to channels centered around informational content. For instance, videos that teach viewers how to cook or sew can now reach a wider audience with translated audio. This allows for a seamless sharing of knowledge and skills regardless of language barriers. It's a game-changer for those in the instructional video space, as it makes their content more inclusive and understandable.Moreover, YouTube's commitment to expanding this feature to other types of content soon shows their dedication to making the platform truly global. By providing translated audio, they are breaking down language walls and enabling a more diverse community of creators and viewers.

How to Use the Auto-Dubbing Feature

Using the auto-dubbing feature is straightforward. Creators simply upload their videos as they usually would. YouTube's advanced technology automatically detects the language and creates dubbed versions in multiple languages. It supports a wide range of languages including English, French, German, Hindi, Indonesian, Italian, Japanese, Portuguese, and Spanish. This saves creators a lot of time and effort in manually translating their videos, allowing them to focus more on creating great content.For example, a French creator can upload a video in French, and YouTube will quickly generate dubbed versions in other languages. This not only helps the creator reach a global audience but also makes it easier for viewers from different countries to understand and enjoy the content.

Google Gemini and Auto-Dubbing

YouTube's auto-dubbing utilizes Google's Gemini capabilities to replicate human speech. While this is an impressive technological feat, the company is also cautious as the technology is still in its early stages. There might be times when the translation isn't perfect, or the dubbed voice doesn't accurately represent the original speaker. However, they are working hard to make it as accurate as possible and truly appreciate the patience and feedback from creators and viewers as they continue to improve.For instance, in some cases, the nuances of a particular accent or tone might not be captured perfectly. But with continuous development and user feedback, YouTube aims to get closer to achieving seamless dubbing.

Upcoming Update: Expressive Speech

In addition to the auto-dubbing feature, YouTube also reminded creators about another upcoming update called "Expressive Speech." This update is designed to help replicate the creator's tone, emotions, and even the ambiance of their surroundings. It takes the dubbing experience to a whole new level by adding a more personal touch.Creators can look forward to this update as it will enhance the overall viewing experience and make the dubbed videos feel more authentic. It shows YouTube's continuous efforts to innovate and provide the best possible experience for both creators and viewers.
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Dogecoin Millionaire's Tale: Trump Win's Impact
2024-12-10
Once upon a time, over three years ago, Glauber Contessoto, before achieving his first millionaire status, borrowed $1,500 from his aunt Cristiane Almaraz. He used this money to invest in Dogecoin, a cryptocurrency that began as a lighthearted joke about an internet dog meme. In return, he promised her a house once Doge reached great heights as he believed it would.

As of Late November: A Tale of Contrasting Fortunes

By late November when they had a Zoom conversation together, Contessoto had amassed $2.2 million in Doge. He also had significant holdings in other cryptocurrencies. He planned to sell some of the highly volatile Dogecoin in six to eight months when he thought the price would more than triple. However, Almaraz wanted him to sell immediately."Ultimately, at that point, I'll have $10 million. Even with a million-dollar house, it won't significantly affect my finances," said Contessoto."I don't need a million-dollar house," replied Almaraz."You live in Maryland. You do need a million-dollar house," Contessoto insisted.Almaraz is a housekeeper, and her husband works as an Amazon driver. They have two kids. After a car theft forced them to buy a new vehicle, they have only about $5,000 in savings. Part of her frustration is that she feels she's been through this before."Because Dogecoin is very unstable. How can you guarantee that in six months you'll achieve that?" Almaraz asked."Because I'm basing this on patterns. Trends, patterns, charts, and graphs. I now focus on crypto full-time. I study this," said Contessoto.In 2021, after investing his life savings in Dogecoin, Contessoto had about $3 million in the memcoin and became a sort of crypto celebrity. His YouTube channel and social media popularity made him the most famous Dogecoin evangelist after Elon Musk.But just a year later, as the buzz for Bitcoin and NFTs cooled and crypto winter set in, the "Dogecoin millionaire" became the "Dogecoin former millionaire.""I remember very clearly. I was in the parking lot of the gym I usually went to. I was sitting in the car watching it plummet. The amount in my Robin Hood account kept decreasing all the way to $200,000," said Contessoto.However, Contessoto stuck with the memecoin that got him here. He used the money from crypto-related endorsements to buy more Doge and other cryptocurrencies."There are days when I think, 'Oh, I kind of wish I had sold.' But ultimately, that's not what my heart tells me. I strongly believe in following my gut feelings on things," said Contessoto.His gut feeling proved correct. In 2024, Doge started rising again, partly in line with Trump's poll numbers. The former president had promised to ease regulations on crypto during his campaign.After the election, something extraordinary happened. It was one of those glitches in the matrix that made one question not only if they were living in a simulation but if it was a simulation designed specifically to mock them for prudently investing their retirement money in an index fund.Trump announced plans to create the Department of Government Efficiency - DOGE for short - an organization tasked with reducing the federal bureaucracy. Musk had half-jokingly proposed this before the election.Dogecoin soared. Since the election, it's up more than 120%."That's like perfect branding, right?" said Contessoto. "I couldn't have created that in a better way."Trump and his DOGE have been a significant financial boon for Contessoto. But there's another aspect of Trump's agenda that could be a major problem."I am currently undocumented. Yes, I don't have papers," said Contessoto.Contessoto came to the US from Brazil when he was 5. His mother has a green card, but he's still trying to obtain legal status."I have conflicting emotions about Trump. Financially, he's probably the best bet. But on the other hand, I could get a knock on the door next week and be deported. And everything I've worked for could go up in flames," said Contessoto.During the holidays, Contessoto is actually outside the US dealing with a family emergency. He's unsure if he'll be allowed back into the US without his papers.For the first time in years, he won't be spending Christmas with aunt Cristiane in Maryland. He said she can have anything she wants as a gift - short of a house.
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