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Elektrisk: EVs are the future... in Norway they're the present

Elektrisk: EVs are the future... in Norway they're the present

5/9/23 7:00PM

Charging ahead

In most countries, EVs are the future. In Norway, they are very much the present. Last year, nearly 4 of every 5 new cars sold in the country were fully electric — and the effects of that are now coming into view as the nation edges ever-nearer to its 2025 deadline for outlawing all gas-powered vehicles.

Indeed, a recent New York Times long read on Norway’s EV revolution points to the positive impact the movement is having on the nation’s capital, where the air is “measurably cleaner” and greenhouse gas emissions are down 30% since 2009.

Going elektrisk

Norway’s government has been pushing electrification for decades, from subsidizing the construction of its vast charging network to enacting policies like tax exemptions and reductions for zero-emission vehicles. Though policy makers are now reportedly looking to curb the many benefits, they’ve been pivotal in helping the nation of 5.5 million achieve the highest proportion of EVs anywhere in the world.

The popularity of electric cars compared to gas-guzzling counterparts has really started to accelerate in the last decade. In 2012, just 3% of new cars sold in Norway were fully-electric, in 2022 that figure sat at 79%, up 14% even on the year before. Joe Biden’s goal is to see EVs make up more than half of US new car sales by 2030, a milestone that Norway passed in 2019.

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Reddit bounces on report that it’s in talks with Google, OpenAI on fresh data-sharing deal

Reddit shares were down 5% in Wednesday trading before news that the company is in early talks to make its next AI content-sharing deals with Google and OpenAI sent them back up to roughly flat.

According to reporting by Bloomberg, Reddit is seeking a new data deal structure that includes dynamic pricing and would encourage the companies’ AI users to contribute to Reddit.

Reddit reportedly struck deals of $60 million per year with Google and OpenAI last year. The company scored $35 million in “other” revenue — which includes content licensing agreements — in its most recent quarter. That accounted for about 7% of the company’s overall revenue in the period.

“One of the things that we’ve learned, particularly through the data licensing deals is... how essential Reddit is to AI or LLMs as we know them and the next generation of search,” Reddit CEO Steve Huffman said on the company’s July earnings call. “And so I think a lot has changed over the last couple of years. Every variable has changed since we signed those first deals.”

Reddit reportedly struck deals of $60 million per year with Google and OpenAI last year. The company scored $35 million in “other” revenue — which includes content licensing agreements — in its most recent quarter. That accounted for about 7% of the company’s overall revenue in the period.

“One of the things that we’ve learned, particularly through the data licensing deals is... how essential Reddit is to AI or LLMs as we know them and the next generation of search,” Reddit CEO Steve Huffman said on the company’s July earnings call. “And so I think a lot has changed over the last couple of years. Every variable has changed since we signed those first deals.”

$100B

Alphabet’s YouTube said it’s paid out over $100 billion to creators, artists, and media companies over the past four years — cementing its place as one of the internet’s biggest talent magnets. The Google-owned platform, which turned 20 this year, credited connected TVs as a major driver of growth.

YouTube said the number of channels earning over $100,000 from TV screens has surged over 45% in the past year alone. Meanwhile, ad revenue for YouTube grew double digits in Q2 to $9.8 billion, topping the Street’s estimates.

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Webtoon surges after Disney plans to invest and partner in digital push for brands like Marvel and “Star Wars”

Webtoon Entertainment shares jumped 36% in premarket trading Tuesday after Disney said it’s buying a 2% stake in the digital comics platform. The investment is part of a deal to bring Marvel, “Star Wars,” Pixar, and 20th Century Studios titles into a new streaming-style app run by Webtoon. The offering will launch in Q4 across the US and nine other countries.

“With a new platform that will combine our product and technical expertise with Disney’s full comic catalog, we’re giving new and longtime fans all over the world a new way to discover these legendary characters and stories,” said Junkoo Kim, founder and CEO of Webtoon Entertainment.

The platform is expected to host more than 35,000 titles, mixing archived comics with Webtoon originals. Disney+ perks could also be on the table, giving the service a natural tie-in to Disney’s broader streaming play.

The arrangement isn’t final yet: Disney’s stake and the platform details are still under negotiation. But with Webtoon’s ~155 million monthly active users, the partnership gives Disney a mobile-friendly channel for its comics while Webtoon gains the ultimate IP access.

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