Today in Tech: DVD sales drop, streaming services soar

May 4, 2011: 10:22 AM ET

A curated selection of the day's most newsworthy tech stories from all over the Web. Sign up to get the newsletter delivered to you everyday.

  • Several high-profile Facebook employees have recently left the company, including Jim Midgal, director of business development, Jonathan Heiliger, VP of technical architecture, and Marcel Laverdet, one of three employees who got their jobs by once hacking the social network to resemble MySpace.
    (Business Insider)
  • AOL's latest quarterly earnings are in, and depending on how you view things, the company either pleasantly surprised or disappointed: factoring in the Huffington Post acquisition and restructuring costs, profits amounted to $4.7 million on sales of $551.4 million, a 17% decline from the same time a year ago. But if you exclude all those costs, earnings actually beat analyst estimates. (ZDNET)
  • DVD sales dropped 20% last quarter. While movie studios blame the plunge on the Easter holiday and a lack of blockbuster releases, it's also worth noting that sales for streaming and subscription-based services like Netflix jumped 33% to $695 million. (The Guardian)
  • Speaking of, Netflix CEO Reed Hastings compared offering current season TV or newer movie releases to Armageddon. (CNNMoney)
  • Apple's rumor mill keeps churning... An AT&T employee told MacRumors that the next iPhone will not hit in June or July, as has traditionally been the case. (MacRumors)
  • Total sales from the four major mobile app stores by Apple, Google, Nokia and Research In Motion are expected to climb nearly 78% this year to $3.8 billion, with Apple expected to account for three-fourths of that. (iSuppli)
  • As part of CEO Larry Page's reorganization plans, Google's search group has been renamed the "knowledge group." (TechCrunch)
  • Mercury News reports that Zynga is blocking former company exec Andy Trader from selling $12.8 billion worth of private shares. (Mercury News)
  • Nintendo plans to cut the price of its Wii console to $149 and the prices of select games down to $19.99 to potentially boost sales. (VentureBeat)

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About This Author
JP Mangalindan
JP Mangalindan
Writer, Fortune

JP Mangalindan is a San Francisco-based writer at Fortune, covering Silicon Valley. Since joining in 2010, he has written on a wide array of topics, from the turnaround of eBay to the evolution of net neutrality. A graduate of Fordham University, Mangalindan has also written for GQ, Popular Science, and Entertainment Weekly.

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