The latest data shows organizations are happy with retail media, but there’s room for improvement
For 77% of US organizations, retail media has either met or exceeded KPI expectations, according to a December 2023 survey from Skai and the Path to Purchase Institute. Only 3% say it had little or no impact on desired objectives. Organizations investing in retail media are prioritizing ads on retailer websites, paid search shopping ads on places like Google Shopping, and social commerce ads on places like TikTok Shop and Facebook Marketplace. Read more from Insider Intelligence.
Reddit partners with Google on data-sharing deal for search
Google’s making a strategic move to shore up its Search business, via a new deal with Reddit that will give Google exclusive access to Reddit’s data for use in Search and within its generative AI projects. This content is a significant value add for search, and in the age of generative AI, where more and more product review sites are employing AI bots to create harder-to-detect fake endorsements, the value of that could become even more significant. Read more from Marketing Dive.
2024 Begins On An Upward Note, U.S. Ad Market Posts Best January Ever
2024 has gotten off on an upward start, with U.S. ad spending rising 4.3% over January 2023, according to just-updated data from Guideline’s U.S. Ad Market Tracker. Sequentially, January was the 10th consecutive month to post a gain, signaling an end to the U.S. ad recession beginning with the second quarter of 2023. The momentum continues to come from smaller ad categories, which in aggregate, rose 5.3% over January 2023, which compares with an aggregate gain of 3.7% for the top 10 ad categories. Read more from Media Post.
The great restructuring of digital news media
After two decades of adjusting business models for the internet age, the business foundations of digital journalism are cracking. Many generalist news publications are struggling, with hundreds of roles cut just in recent months. Some, like Business Insider and TechCrunch, have been ditching coverage on some verticals to focus on a few core ones — business, tech and innovation — instead. These shifts exemplify the challenging conditions for digital news publishers in the short term. But they also bring opportunities to reimagine how news can be paid for, while unlocking new advertising opportunities for many brands. Read more from The Current.
WBD and Paramount ‘no longer’ discussing potential merger
Warner Bros Discovery (WBD) is no longer interested in a merger with CBS parent Paramount Global, according to CNBC. The combination of WBD and Paramount+ would have created a hypothetical sports division with access to the National Football League (NFL), the National Basketball Association (NBA), the National Hockey League (NHL) and Major League Baseball (MLB), as well as college football and the entirety of the March Madness men’s basketball tournament. This combined sports offering would have been a compelling proposition for consumers and potential partners – capable of writing bigger checks and offering wide reach. Read more from Sports Pro Media.
