Banking App Competition; Why OTT "Skinny Bundles" Fail

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Cut To Chase

JP Morgan Chase CEO Jamie Dimon is incensed about fin tech startups like Mint, Acorn and Bloom “scraping” his customers’ data to offer financial visualization and advice services. The New York Times fact-checked his warnings to customers about “these start-ups (taking) more of your data than they need to” and “(selling) the data to outsiders in a way that benefits them but not you.” Is he only trying to buy time for Chase to pull off the same trick? The company has job openings in a unit seeking to “leverage JPM proprietary data assets into opportunities” for the bank. Sounds like performance marketing gold. Read it.

Paying Through The Teeth

Apple and Google have tried and failed for years to package TV shows into OTT “skinny bundles,” as Mathew Ingram chronicles at Fortune. Broadcasters are interested, but the asking price is higher than what cable companies pay. The reason? “The suppliers of TV programming are tempted by the reach they could get and the ad revenue they could share in, but they are also afraid of transferring too much power to some already massive Internet companies.” More.

Upstream

Streaming and ad-supported music just hit an important milestone when Warner Music Group reported its streaming revenue had surpassed both physical sales and download sales. “That’s the first time any of the big music labels has hit that inflection point,” says Peter Kafka at Re/code. In the second quarter of 2016, Warner’s streaming revenue was up $72 million from the same period last year – while downloads were down $17 million and in-store revenue dropped $6 million. More.

New Wave Cinema

Snapchat hosted a live, full-length movie on its platform, which the producers plan to release theatrically in June, according to Mashable. It’s a kind of found-footage film reminiscent of “The Blair Witch Project,” but in this case the “footage” was natively shot and posted in real time as a dayslong series of Snapchat stories. You can be sure the major studios are looking hard at this film and marketing experiment, which amassed millions of views on Snapchat – though it remains to be seen if social media traffic will translate into tickets and popcorn. More.

But Wait, There’s More!