NEW YORK, Oct. 13, 2020 (GLOBE NEWSWIRE) — Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Snap (NYSE: SNAP) NexTech AR Solutions (OTC: NEXCF) (CSE: NTAR) The Walt Disney Company (NYSE: DIS), and Spotify (NYSE: SPOT).
The entertainment industry is undergoing a sea change, as new technologies upend traditional revenue and distribution models. While streaming gets even bigger, new Augmented Reality and hologram formats are emerging as “the next big thing”. Wall Street Reporter highlights the latest comments from industry thought leaders:
Snap Inc. (NYSE: SNAP) CEO Evan Spiegel: “Overlaying New Experiences on World Through Augmented Reality”
“…We are working hard to overlay new computing experiences on the world through augmented reality. And the Snap Partner Summit showcased some of our latest AR products, including Local Lenses that allow people to share augmented reality experiences together overlaid on their neighborhood cityscape, and SnapML, which empowers members of our community to bring their machine learning models directly into Lenses on Snapchat. This enabled Gucci to leverage Wannaby’s foot-tracking technology to help people try on their latest sneakers in Snapchat, and even buy them directly within the Lens. These sorts of augmented reality experiences are especially powerful in the post-COVID retail environment, where brands are investing more in virtual try-on….”
“Our community grew by 17% year-over-year, with 238 million people using Snapchat every day on average in the quarter. This continues our recent momentum in daily active user growth, with the last three quarters seeing our highest year-over-year growth rates since 2017….Adoption of our AR platform is also accelerating, with the number of people playing with Lenses every day growing by 37% year-over-year….While these uncertain times have impacted many businesses in different