TikTok Updates: UMG, Incentivized Video, Shoppable Posts, and More
TikTok’s evolving landscape encompasses a myriad of changes, from Universal Music Group’s departure prompting copyright debates to the introduction of AI Song, which challenges the traditional creative process. Meanwhile, TikTok’s exploration of longer horizontal videos presents opportunities for deeper storytelling but risks alienating its core audience. Additionally, TikTok’s advancements in analytics and shopping features reflect its ambitious push into advertising and e-commerce. Read more from Social Media Examiner.
Google: “Why New CTV Ad Formats Are Easier Said Than Done”
Ten years ago, YouTube was just a place to watch video clips. To keep up with changing consumption habits, YouTube is now streaming TV and video in as many ways as possible – from linear programming on YouTube TV to the social media-style experience of YouTube Shorts. Advertisers, meanwhile, have become more selective about how they find and reach their audiences. Specifically, brands are looking to move down the funnel with their streaming campaigns and achieve outcomes beyond reach and frequency, including on YouTube, said Matt McDonald, Google’s global head of connected TV and streaming. Read more from AdExchanger.
Amazon’s Q4 ad sales total $14.6B as Prime Video ads begin
Amazon saw advertising sales grow 27% year-over-year for a total of $14.6 billion in the Q4 2023 period ended Dec. 31, per an earnings release. The company’s overall net sales increased 14% to $170 billion in the quarter. Viewership for the second season of “Thursday Night Football” on Prime Video increased by 24% year-over-year, per Nielsen data shared by Amazon. Amazon also rolled out a generative AI-powered conversational shopping experience, Rufus, with executives expecting generative AI to drive “tens of billions of dollars” in revenue over the next few years.Read more from MarketingDive.
Valentine’s Spending Expected to Hit Record $14.2 Billion
Americans are projected to spend $14.2 billion this Valentine’s Day amid heightened consumer confidence. That record amount comes from a survey released Monday by the National Retail Federation (NRF) and Prosper Insights & Analytics. Online continues to be the most popular destination to shop for Valentine’s Day gifts at 40%, up from 35% last year. Consumers also plan to head to department stores (33%), discount stores (31%) and florists (17%). Read more from PYMENTS.
ESPN, Fox, and Warner Brothers Discovery Team Up for Sports Streaming Service
ESPN, owned by Disney, along with Warner Brothers Discovery and Fox Corp., are creating a shared streaming platform for sports assets that will be available later in the year, the companies cited in a release. Expected to be a one-stop shop for sports streaming, Disney+, Hulu, and Max members will all have access to the stand-alone service, with each company owning a third of it. The announcement comes at a time when the NBA is currently seeking its next media rights deal. Read more from Front Office Sports.
