Business News Weekly ─ December 30, 2019
“Commuter towns court millennial’s” ─ from an article in Bloomberg Businessweek. Yet there is a new Rochelle have their eyes on young professionals priced out of Manhattan and Brooklyn.
“Huawei propelled by Beijing’s billions” ─ from an article in the Wall Street Journal. It goes on to say decades of financial assistance toward any other global telecoms government support. Tens of billions of dollars in financial assistance from the Chinese government helped fuel Huawei.
“SEC probes Tech debuts on big board” ─ from an article in the Wall Street Journal. It goes on to say Securities and Exchange Commission is investigating the listings Slack Technologies and other major companies on no New York Stock Exchange, and proof looking at how trading was handled on the first day, people familiar with the situation said.
Rivian, the electric truck maker which has offices in both Irvine and Carson, California, has raised a huge, $1.3 billion funding round, the company said on Monday. The funding was a fourth round for the company, which has now raised a total of more than $2.85 billion in funding. The new funding was led by T. Rowe Price, and also included Amazon, Ford Motor Company, and BlackRock. Rivian, which is led by founder and CEO RJ Scaringe, recently announced an agreement with Amazon to supply 100,000 electric delivery vans starting in 2021, although the firm has yet to start commercial production on its vehicles.
Mobile dethroned TV in 2019 as the channel where US adults spent the most time. While it may be a symbolic threshold for now, it’s still notable that the average US adult spent 3 hours, 43 minutes (3:43) on their mobile devices in 2019, compared with the average 3:35 spent watching TV. As recently as 2016, US adults watched nearly an hour more of TV than they spent on their smartphones and tablets (4:05 vs. 3:08).
With consumers spending more time with their phones, advertisers continue to shift dollars to mobile advertising. We estimate that mobile ad sales in the US reached $99.21 billion in 2019, a 22.3% increase year over year. With that strong growth, mobile ad sales represented 76.7% of total digital ad spending and 41.6% of total media ad spending.