The Internet is no longer draining profits from media and entertainment companies, which have learned to make online services pay, a new study shows.
The study by Ernst & Young released Monday found that media and entertainment companies "are continuing to increase their lead as one of the most profitable industries" with profit margins of around 28 percent.
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The Huffington Post has entered a partnership with a former director general of al-Jazeera Network to launch an Arabic-language edition aimed at the growing number of young people in the Middle East with mobile devices.
The AOL-owned company will launch HuffPost Arabi after teaming up with Wadah Khanfar, who is currently chief executive of Integral Media Strategies.
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BOSTON – June 23, 2014 – Nineteen projects that strengthen the Internet for free expression and innovation will receive $3.4 million as winners of the Knight News Challenge. The John S. and James L. Knight Foundation made the announcement at the 2014 MIT-Knight Civic Media Conference at the MIT Media Lab.
The winners provide a mix of solutions to promote an open Internet that is free and accessible to all. They address issues from privacy and censorship, to expanding the diversity of the tech workforce, to improving digital access and connecting communities with online content in easier, more useful ways. Three of the projects support the work of libraries as essential resources for community information access. Nine of the winners will receive investments of $200,000 to $500,000 each, while 10 early-stage ideas will receive $35,000 each through the Knight Prototype Fund, which helps innovators take media and information projects from idea to demo.
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