1.Facebook's second-quarter earnings have been released, and the news isn't good. Revenue is down, costs are up, and the company is expecting a tough holiday season ahead. The Facebook and Instagram owner saw revenue slide 4% YoY to $27.7 billion for the second consecutive quarter, according to a third-quarter earnings statement. That was below
analysts' expectations of $29 billion. The average cost per ad dropped 18% YoY, reflecting struggles to effectively target brand messages. The company also saw costs or expenses rise 19% versus the year-ago period to $22.1 billion amid a pricey bid to build the metaverse.
2. TikTok is launching a new program called TikTok Academy to help marketers get the most out of their time on the app. The program includes free video courses
on how to make best use of TikTok for marketing, along with research data and other information to expand your understanding of the app.
3. Netflix has long been the go-to streaming service for those who want to watch TV shows and movies without commercials. However,
the company announced earlier this year that it would be introducing a new ad-supported tier in an effort to bring in more revenue. While some advertisers were initially on board with the new plan, many are now jumping ship and instead choosing to buy ads on Netflix’s competitors, like Amazon and Disney. So, what’s behind this mass defection? READ THE STORY HERE
4. Amazon is making it easier
for marketers to take advantage of video advertising.The company is adding the format to its self-service Sponsored Display program, and also expanding a public beta for its Video Builder, which provides brands with customizable templates when developing video campaigns.The addition of video to Sponsored Display enables advertisers to make video campaigns that run both on Amazon and other platforms, with a focus on opening options for small and mid-sized businesses. The solution allows
for the creation of immersive assets, such as tutorials, unboxing videos and demos. "We want to bring the power of video advertising to more brands, no matter their size or level of resources," said Tanner Elton, vice president of U.S. sales for Amazon Ads, in a statement."
5.At the ANA's annual "Masters of Marketing" conference in Orlandog, Ford Motor Co. CMO Suzy Deering told the audience that there is a difference between a company’s
purpose and its business plan. A purpose is more than "flowery language" or something you put on a slide in a business presentation or on a poster, she said."It's when it actually drives business growth, when it completely transforms the way in which you make decisions in your business -- [that's] where purpose comes into action," Deering said. Ford’s business strategy is guided by its purpose, she said. “Your business strategy is going to actually set context for the objectives
that you have in your business, and it needs to also be able to evolve,” Deering said.
6. ESPN has sold its majority stake in X Games to private equity firm MSP Sports Capital. ESPN founded X Games — the action sports franchise featuring skateboarding, snowboarding and BMX — in 1995. MSP, which has investments in McLaren Racing Limited and four European soccer teams, will take over X Games' day-to-day business operations and produce
its events. ESPN will continue to broadcast the games on U.S. television. ABC will also broadcast the next X Games, set for January 27-29, 2023 in Aspen, Colorado. Ten-time X Games gold medalist Tony Hawk will join MSP to act as a “brand steward."
7. The Federal Trade Commission (FTC) is proposing restrictions on the personal information online alcohol-beverage delivery platform Drizly can collect about its customers following two
security breaches dating to 2018. A proposed administrative complaint also seeks to bind Drizly LLC CEO James Cory Rellas to specific data-security requirements if he leaves Drizly for other companies because of “his role in presiding over unlawful business practices” at Drizly.
8.The Justice Department on Wednesday formally banned the use of subpoenas, warrants or court orders to seize reporters’ communications records in an effort
to uncover confidential sources in leak investigations, in what amounts to a major policy shift.
9.Brad Gerstner, the founder and President of Altimeter Capital, is calling for major changes at Meta. In a letter published today, he argued that the company has “drifted into the land of excess.” He pointed out that Meta's stock price has dropped by 55% over the past 18 months, noting that this decline in share price mirrors a loss of
confidence in the company rather than just a bad mood on Wall Street. (READ FULL STORY)
10. The Justice Department announced on Wednesday that it will no longer use subpoenas, warrants or court orders to seize reporters’ communications
records or demand their notes or testimony in an effort to uncover confidential sources in leak investigations. The rules are part of a long-term plan by Attorney General Merrick B. Garland to protect journalists’ confidential sources. The new rules expand on a temporary policy he put in place in July 2021 after the revelation that the Justice Department had secretly pursued email records of reporters at The New York Times, The Washington Post and CNN.
11. Snapchat may be a little less popular than your other social media platforms, but that doesn’t mean your customers aren’t there!
Snap has quietly grown its user base at a rate of 18% last year (And now it’s reaching more than 600 million people in North America alone ( There are even more people using Snapchat every day—99 million in North America alone, to be exact! 3 Not only do Gen Zers and
millennials love Snapchat, they are actually on it more than any other platform. 90% of Gen Zers and 75% of all 13-34 years old in the U.S are on Snapchat now. And even better—many of them aren’t on other platforms.
12. Hey, Amazon sellers! You can now start using Tailored Audiences to reach different types of customers using the power of email marketing. With this tool, your brand can market new products and encourage repeat purchases,
offer deals and more. The best part is you can use this feature for free! The new Tailored Audiences tool is available for U.S. sellers only. To be eligible for Tailored Audiences, your brand must have been registered with customers over the last 12 months. This tool will appear in the Customer Engagement tab that you can find in Seller Central.
13. Citi Ventures has made a strategic investment in white-label reward programme platform
Wildfire Systems.The firm recently scored a major deal with Visa to power the card giant's new Visa Affiliate Marketing Solutions programme. "Wildfire is a leading player at the intersection of embedded finance, e-commerce, rewards, and loyalty," says Luis Valdich, MD, head of fintech investing, Citi Ventures.
14. Meta's new IP reporting API for Brand Rights Protection tool will help you find and report content from brands that are
stealing your content in a matter of minute. The API is available now in Meta's PRX brand protection platform and allows users to search for infringing content by uploading a text string or image, then generate a report. This new feature is part of Meta's continued efforts to make IP protection easier for marketers and ensure they can keep their brands safe from unauthorized use.