1. Walmart has partnered with CommerceIQ to bring new automated capabilities to its U.S. advertising platform, according to a news release. The integration of CommerceIQ into the APIs of Walmart Connect will offer customers a range of features, including tailored optimization tools; strategy builders that drive actions based on desired campaign results; and self-service dashboards. This will enable Walmart to provide a more streamlined and
efficient experience for advertisers while also reducing operational costs. In addition, the partnership will allow CommerceIQ to tap into Walmart's vast customer base and data resources. CommerceIQ is a provider of e-commerce management solutions that helps brands optimize their online presence across multiple channels. The company's platform enables clients to automate key tasks such as product listing, repricing, inventory management, and order fulfillment.
2. According to Standard Media Index’s latest Core data, June marked the first month ad spending has decreased this year, breaking a 15-month growth streak. While digital ad spend grew 9% in June compared to the same period last year, linear TV spend receded 19%, a drop most comparable to July 2020 during the height of COVID-19 sports disruptions. The decrease in ad spending is likely due to a number of factors, including the ongoing pandemic
and global economic uncertainty. As businesses continue to tighten their belts, advertising may be one of the first areas to see cuts. However, it is worth noting that June’s ad spending still exceeded pre-pandemic levels, suggesting that the industry remains resilient in spite of challenging circumstances.
3. Media stocks have been on a roller coaster ride this year, and Wednesday was no exception. Following Netflix's strong quarterly results, many media stocks saw a sharp uptick in price. Netflix itself rose 7.3% to $216.44, while other stocks saw more modest gains. While it's still too early to tell if this is a sustainable trend, it's clear that investors are keeping a close eye on the media sector. With so much uncertainty in the world right
now, it's not surprising that people are looking for ways to escape reality and Netflix is one of the best options out there. Only time will tell if this latest surge in prices is here to stay, but for now, it's good news for those invested in media stocks.
4. The House Energy and Commerce Committee on Wednesday voted 53-2 to advance a sweeping bipartisan privacy bill that would outlaw a common form of online behavioral ad targeting. The version of the American Data Privacy and Protection Act approved Wednesday would prohibit companies from collecting or processing data about web users' online activity across sites and over time for ad purposes without the consumer's explicit consent. The bill, which is
being co-sponsored by House Republican Bob Goodlatte and House Democrat David Cicilline, now heads to the House Judiciary Committee for further consideration. If enacted, the law would represent the most significant change to online privacy regulation in the United States in more than a decade. Privacy advocates have long criticized behavioral advertising as a invasive and intrusive practice that allows companies to track people's online activities without their knowledge or consent. The
industry has defended the practice as a way to deliver more relevant and targeted ads to consumers. However, in recent years, a number of high-profile data breaches have put renewed pressure on lawmakers to act. The new bill is likely to face stiff opposition from tech companies and other business groups that say it would impose undue burdens on businesses and stifle innovation.
5.YouTube has become a significant element within the broader Creator Economy, with the platform generating billions of dollars each year that’s then passed on to creators via its Partner Program and other initiatives. But just how significant YouTube is in this respect may surprise you, with a new study by Oxford Economics finding that YouTube’s creative ecosystem contributed more than $25 billion to the US economy in 2019 alone. That’s up from
$16.9 billion in 2016 – an increase of almost 50%. In terms of employment, YouTube supported nearly 260,000 jobs in 2019 – again, up from 180,000 three years earlier. And when you factor in the impact of indirect and induced employment (jobs created as a result of YouTube activity), that figure jumps to almost 1 million. So while YouTube may sometimes be seen as a disruptive force, there’s no doubt that it’s also playing a major role in supporting the creativity
of tomorrow.
6. The European Council has approved the Digital Marketers Act (DMA) in a bid to prevent gatekeeper platforms like Google, Amazon, and Apple from abusing their monopoly powers. The DMA requires gatekeepers to give users access to marketing and advertising data and to no longer rank their own products and services above others’ products and services. This is a significant development that will help level
the playing field for businesses operating in the digital economy. It remains to be seen, however, how effective the DMA will be in practice. Skeptics point out that the rules are voluntary and that they exempt small businesses. Nonetheless, the DMA is a step in the right direction and it is hoped that it will help create a more fair and equitable digital marketplace.
7. Starting today, advertisers using Amazon Sponsored Display can customize their creatives by adding a headline, logo, and lifestyle image together, or individually. Advertisers can choose to add any combination of assets while creating or editing their creatives. Ads will now display a headline, logo, and lifestyle image to help shoppers discover your brand and product. This launch provides advertisers with greater flexibility to tell
their brand story and showcase their products in a more visually appealing way. We’re excited to offer this new creative format to our advertisers and look forward to seeing the amazing results they achieve.
8. A new study from Neuro-Insight has found that smart-speaker advertising generates responses in the human brain that can help build deeper connections between brands and consumers. The study, commissioned by Octave Audio, Say It Now and Xaxis, examined consumer engagement in a 30-60 second conversation with a voice assistant and compared brain responses with standard broadcast radio ads.
Cognitive load – an indicator of how much effort the brain is expending to process information – was significantly lower for smart-speaker ads, indicating that consumers found the ads easier to process and remember. Furthermore, the ads generated higher levels of emotional engagement and brand connection than radio ads. These findings suggest that smart-speaker advertising has the potential to create more meaningful relationships between brands and consumers.
9. A new survey of more than 3,000 U.S. and U.K. consumers by The Harris Poll for advertising platform company Permutive underscores consumers’ growing mistrust of how advertisers are using their personal data. Three-quarters of those surveyed expressed discomfort with buying from brands with poor data ethics, and 89% said they’d be more likely to spend money with a brand that makes a commitment to being transparent about its data use. The
findings suggest that consumers are becoming more aware of the ways in which their personal data is being used and are beginning to hold brands accountable for their practices. As data privacy concerns continue to mount, it will be essential for brands to establish trust with their customers by being clear about how they use customer data. Those that fail to do so may risk losing out on business from a growing number of conscientious consumers.
10. Ahead of the debut of his new animated show, Krapopolis, Dan Harmon -- creator of hit series “Rick and Morty” and “Community,” as well as Fox Entertainment’s Web3 media and creative technology company, Blockchain Creative Labs -- is announcing a new NFT project. The Krapopolis website features a collection of 10,420 utility-focused NFTs called “Krap Chickens,” which drop for purchase on August 11. The NFTs can be used to unlock exclusive
content and experiences on the Krapopolis website, including early access to episodes, behind-the-scenes footage, and more. In addition, holders of the Krap Chickens will be able to participate in ongoing polls and surveys to help shape the future of the show. With its mix of humor, heart, and utility-focused gameplay, the Krapopolis NFT project is sure to be a hit with fans of the show.