OpenAI’s monthly revenue hit $300 million in August, up 1,700 percent since the beginning of 2023, and the company expects about $3.7 billion in annual sales this year, according to financial documents reviewed by The New York Times. But it expects to lose roughly $5 billion this year after paying for costs related to running its services and other expenses according to an analysis by a financial professional who has also reviewed the documents.
Source: OpenAI Is Growing Fast and Burning Through Piles of Money
In a letter to the agencies, the senators explained their position that the latest AI features are hitting creators and publishers while they’re down. As journalistic outlets experience unprecedented consolidation and layoffs, “dominant online platforms, such as Google and Meta, generate billions of dollars per year in advertising revenue from news and other original content created by others. New generative AI features threaten to exacerbate these problems.”
Music streaming service Audiomack has partnered with royalty tracking platform Mogul to enable half a million active creators to manage their Audiomack royalties alongside other revenue streams. The collaboration is designed to help independent artists track and collect the royalties they’re owed more accurately, according to a joint release,
Google and the Department of Justice are facing off again, this time in a trial about whether Google has a monopoly in advertising technology markets. The trial kicks off on September 9th in a federal court in Alexandria, Virginia. The DOJ argues that Google has unfairly locked up the market for ad tech tools that publishers and advertisers rely on to monetize their websites and market their goods.