The metaverse is gaining traction among employees and employers, according to various reports. A survey by Microsoft Work Trend Index found that over half of employees are open to meetings in the metaverse, while CCS Insight found that a quarter have already experimented with extended reality. Meanwhile, a
Lenovo survey found that 44% of employees are prepared to work in the metaverse, compared to 20% who are unwilling. Businesses are also taking note, with CCS Insight predicting that they will purchase 13 million extended reality devices in 2025, while Accenture found that 71% of global executives believe the metaverse will positively impact their organizations. The global metaverse market is estimated to reach nearly $400 billion in the next two years, according to Yahoo Finance, while Gartner
predicts that 30% of organizations worldwide will have products and services ready for the metaverse by 2026.
Different generations have different levels of interest in the metaverse, with 51% of Gen Z and 48% of Millennial workers interested in using it for work, compared to 37% of Gen Xers and 27% of Boomers, according to the Microsoft Work
Trend Index. However, AR and VR could impact 23 million jobs by 2030, boosting the global economy by a potential $1.92 trillion, according to PwC. The use of AR in marketing is also becoming more prevalent, with Meta's Foresight group finding that campaigns combining business-as-usual ads and AR ads outperformed BAU campaigns alone in driving brand awareness. In retail, 69% of consumers think AR is the future of shopping, according to Alter Agents. In training, employees trained with VR
learn up to four times faster than traditional classroom learners, according to PwC.
Satellite internet providers such as SpaceX and Amazon are planning to launch tens of thousands of new satellites into low Earth orbit to provide global internet services. OneWeb recently launched the final three dozen of over 600 satellites. However,
SpaceX has requested permission for almost 30,000 Starlink satellites, and Amazon has requested permission for over 7,700 for its Project Kuiper service. The combined number of satellites requested by six of the most ambitious players in the industry is over five times the total number of objects currently orbiting Earth. Concerns include potential interference with astronomical observations and collisions between space objects.
Michelob Ultra has become the first major sponsor of Women’s Sports Network, a free ad-supported streaming service (FAST) dedicated to women’s sports. The year-long partnership will give Michelob Ultra access to the network's studio to develop content showcasing its impact on women's sports and athletes. The deal aims to help league partners connect with fans more effectively. Michelob Ultra's
marketing has increasingly focused on sports and has been a driving factor behind the brand's growth. Women’s Sports Network is backed by FAST Studios and launched in November 2021. It has league partners such as the Women’s National Basketball Association (WNBA) and Ladies Professional Golf Association.
Dentsu, a leading advertising and public
relations agency in Japan, has released a comprehensive analysis of digital ad spending in Japan. According to the analysis, while total ad spending in Japan rebounded in 2022, rising 4.4% to 7.1 billion yen, internet advertising experienced even faster growth, expanding by more than three times that rate, rising 14.3% to 3.1 billion yen. This growth is attributed to the increasing importance of digital advertising in the industry and the continued adoption of digital channels by
businesses.
Looking forward to 2023, Dentsu projects that internet ad spending in Japan will grow by 12.5% to 2.8 billion yen. This projection highlights the ongoing shift towards digital advertising, as more businesses seek to leverage the reach and targeting capabilities of online channels. As a result, marketers and advertisers must
adapt to this trend and invest in digital advertising strategies that align with their goals and target audiences in Japan. The report also suggests that mobile advertising will continue to be a key driver of growth in the Japanese market, with more consumers accessing the internet through mobile devices than ever before.
Beyond Ordinary Events,
Inc. and POSSIBLE have announced that Elon Musk, CEO of Twitter, will speak at the prestigious marquee marketing event, along with Linda Yaccarino, Chairman of Global Advertising and Partnerships at NBCUniversal. The keynote is titled "Twitter 2.0: From Conversations to Partnerships" and will explore the future of Twitter and its role in cultural conversations. The session will take place on April 18 at the Fontainebleau Miami Beach. POSSIBLE is a new event that brings together business
leaders and visionaries from technology, media, entertainment, and culture. Over 100 business leaders will be in attendance, including LL COOL J, Jon Bon Jovi, Alex Rodriguez, Steve Stoute, Linda Lee, and Karin Timpone. Elon Musk leads SpaceX, Tesla, Neuralink, The Boring Company, and Twitter, and his presence at the event may be aimed at convincing advertisers that Twitter is not a hate site.
Brian Wieser, a respected analyst on Madison Avenue and Wall Street who has long been a staunch supporter of television advertising, has shifted his stance. In his latest "Madison and Wall" newsletter, the former GroupM business intelligence chief acknowledged that he now sees more downside risks than upside potential for television as an advertising medium.
Wieser's outlook for the future of television advertising is uncertain, as he believes that the shift towards streaming services and the decline in pay-TV subscriptions will lead to a decrease in advertising dollars. In contrast, digital platforms are poised to gain more advertising dollars, as they continue to attract more users and gather more data on consumer behavior.
Twitter's new verification checkmark policy, which excludes "legacy" checkmarks for non-paying users, coincides with Twitter CEO Elon Musk's plans for his Twitter Blue subscription offering. Musk believes that paid verification could address Twitter's bot problem and generate revenue, but this approach may not be effective in practice. Selling verification
checkmarks devalues their perceived value, and few users may be willing to pay for them. Despite Musk's belief that he is in touch with the public's perspective, it remains unclear whether users will be willing to pay $8 for a blue tick.
The Federal Trade Commission has proposed a rule change aimed at ensuring subscription cancellations are as
easy as sign-ups. Although this will include streaming services, analyst Alan Wolk believes that it will not affect the likes of Netflix, Disney+ and Hulu as they already make cancelling easy. The proposed amendment to the 1973 Negative Option Rule aims to save consumers time and money and will impact other companies selling other types of subscription, rather than streaming. A rise in subscription cycling is seen as a growing challenge for streaming services, but many users do not
cancel as they think there may be something they want to watch later.
CTV advertising has grown in recent years, with viewer time spent on ad-supported CTV increasing 55% from 2020 to the end of 2022, according to TVision's latest report. As investment in CTV advertising grows, media buyers and sellers need more information and greater
transparency on co-viewing rates to better understand the value of a CTV impression. Industry co-viewing rates vary by app, content, household composition, and time of day, so advertisers need to be clear on where their ads are running and how engaged the audience is. Better CTV audience measurement can uncover hidden efficiencies for advertisers, as they can purchase fewer impressions to achieve their goals if they factor accurate co-viewing rates into their advertising campaigns.
Robert Frati, Chief Sales and Success Officer of Salesforce's Slack unit, is leaving at the end of April after spending over 17 years at both companies. Frati joined Slack in 2016 as its first-ever Vice President of Sales and helped bring a more formal sales culture to the company. His role also includes working with customers after they
purchase Slack's software to ensure they're happy with it. His departure comes as both Slack and Salesforce are seeing slowing revenue growth amid a broad pullback in technology spending.
Utah has become the first US state to regulate the use of social media apps by minors. The state has introduced bills that restrict minors’ access to
popular social media apps like TikTok and Instagram, limiting their social media use between 10:30 pm and 6:30 am and the information social apps can collect from young users. Minors would also need age verification and parental permission to open social media accounts. Utah’s move comes as Washington increases scrutiny of social media platforms and lawmakers call for better protection for minors.
Walmart is laying off hundreds of employees at five of its e-commerce facilities across the United States, as the retailer prepares for a potentially difficult year. Walmart, the largest private employer in the US, is trimming its workforce as many retailers are anticipating flat or declining sales. Walmart is forecasting slower sales growth for its upcoming fiscal year, including in its e-commerce business. The retailer is
controlling labour costs to maintain profits in the face of uncertainty around inflation and the shift back to services after a COVID-19 pandemic-related spending boom.
The marketing industry is undergoing rapid evolution driven by emerging technologies, cultural shifts, and the deluge of data. This convergence is expected to lead to marketing's
Fifth Paradigm. The article highlights the impact of emerging technologies such as the Internet of Things (IoT), smart speakers, wearables, and autonomous cars on the marketing industry. For instance, IoT devices are expected to provide opportunities for marketers to deliver hyper-personalized experiences to consumers. However, the increased data will require marketers to reorganize their data infrastructure and capabilities to handle the volume and complexity. Similarly, smart speakers
and wearables are expected to provide new levels of insight into the consumer journey and opportunities for marketers to interact with consumers more effectively. Finally, autonomous cars will provide opportunities for creative marketers to capture consumer attention while they are in the car. As the data deluge continues to impact the marketing industry, companies must adapt their strategies to leverage new technologies and opportunities.
