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Bold Biz: Weekly Headlines, June 6th

Disney theme parks are in the news, as well as Facebook's efforts to crack down on terrorism linked accounts. Catch up on your weekly business headlines with Selena Hill and David Grasso on #BoldBiz!

Posted by BoldTV on Tuesday, June 6, 2017

 

Facebook battles terrorism

In the wake of the the latest terror attacks in London, Facebook has promised to battle terrorism on its platform. Facebook says it wants to be a hostile environment for terrorists. Facebook may have to shift its focus from sharing to reporting, but it may have to change its policies and practices because of its popularity.

The prime minister of the United Kingdom, Theresa May, has floated the idea of imposing new internet regulations to restrict extremist content.

Celebrity disclosure problems

Facebook has a massive celebrity disclosure problem. Sponsored posts are a big revenue driver for both social media companies and celebrities, but many aren’t properly disclosing their sponsorships right now. This behavior has gotten the attention of federal regulators, namely the Federal Trade Commission.

The rules are clear — if you’re being paid to post something on behalf of an advertiser, you need to disclose it. As it stands, 90 percent of celebrity social media endorsements violate federal rules.

Disney ticket price hike

Disney theme park attendance declined at nearly every one of its parks worldwide in 2016. Most industry analysts point to the increase in ticket prices being the main culprit behind the slowdown. Interestingly, Disney’s theme park business is making more money than ever despite the attendance slump — last year it pulled in more than $3 billion.

Experts suggest that park attendance will rebound next year, given the opening of new exciting attractions such as Pandora, an Avatar-themed land that recently opened at Animal Kingdom in Florida.

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Header image: Adobe Stock

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Posted 06.09.2017 - 09:19 pm EDT