Biz Break: YouTube, GNR meet as 360-degree live-streaming debuts at Coachella

Top Of The Order:

Welcome To The 360-Degree Jungle: Guns N’ Roses, with Axl Rose reuniting with Slash and Duff McKagan for the first time since the first year of Bill Clinton’s first presidential administration (1993, to be exact) performed at the Coachella music festival last weekend in Indio. There were mixed reports of the band’s performance, as Axl was largely confined to singing from a throne after breaking a bone in his foot earlier this month. We here prefer to think of the “classic” lineup of GNR back together as something ranking between “Awesome” and “Now I can die in peace.”

The band returns to Coachella this weekend, and when it does, there will be something else unique to the show that certainly wasn’t available in 1993: Live 360-degree video courtesy of YouTube.

Now, YouTube has offered 360-degree video since March, and Facebook has also had the technology available for a while. But no major video-streaming service or site has set it up so that events can be streamed, and watched live with a 360-degree perspective. YouTube will launch the service this weekend at Coachella as part of the Google-owned site’s streaming of the music festival, which YouTube has done with standard video for several years.

The video will be able to be watched on any kind of device, including smartphones, tablets, VR headsets and the old-fashioned web via your computer screen. “Paradise City” live in 360-degree perspective will never look the same, especially since Axl has reportedly found a way to make it to his gigs on time, now.

Middle Innings:

Instagram This…: Remember when Facebook bought Instagram for what was seen by many as a ridiculous sum of $1 billion back in 2012? Was Kim Kardashian even posting photos of herself back then?

Well, here we are, in another presidential election year, and it looks like Facebook may prove to be smarter than all of us because Instagram is on track toward generating more than $3 billion in revenue this year, according Credit Suisse analyst Stephen Ju.

In a research note Tuesday, Ju said he estimates Instagram contributed $572.5 to Facebook during the first quarter of the year, and will add $3.2 billion to its parent company’s offers for all of 2016. Instagram has grown to include approximately 400 million users worldwide, compared to about 30 million users it had when Facebook bought it four years ago.

Cisco In The Showroom? Well, in a way. San Jose-based networking giant Cisco Systems is teaming up with Hyundai Motor of South Korea to build Internet-connected car technology. The partnership is part of Hyundai’s effort to build what it calls “computers on wheels” that feature high-speed data transfer over wireless networks.

Bottom Of The Lineup: 

Here’s a look at how some leading Silicon Valley stocks did Tuesday…

Movin’ On Up: Gains came from Aemtis, LendingClub, Super Micro Computer, YuMe and VeriFone Systems.

In The Red: Netflix shares sank by almost 13 percent (See more on that below), and decliners also included Rambus, Inphi, NeoPhotonics and Advanced Micro Devices.

The SV150 Index of Silicon Valley’s biggest companies shed 1 percent to fall to 1,626.

The tech-focused Nasdaq Composite Index gave up 0.4 percent to close at 4,940.

The blue chip Dow Jones Industrial Average ended the day up by 0.3 percent at 18,053.

And the broad-based Standard & Poor’s 500 Index rose 0.3 percent to 2,100.

Quote Of The Day: “This is all part of the natural of linear TV to Internet TV.” — Netflix CEO Reed Hastings, on a conference call when he was asked about Amazon undercutting Netflix with a new, standalone video-streaming service for $8.99 a month. Netflix’s shares fell 12 percent on Tuesday.

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Photo: Axl Rose and Slash of Guns N’ Roses  perform during the 2016 Coachella Valley Music & Arts Festival on April 16 in Indio. YouTube will stream GNR’s show this weekend, and the rest of Coachella, in 360-degree live video. (Photo by Kevin Winter/Getty Images for Coachella)


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