What we’re seeing a week into the Google March 2024 core and spam updates
The Google March 2024 core and spam updates have caused significant activity in search rankings, with both algorithmic shifts and manual actions enforcing updated spam policies. Google anticipates the core update to take a month and the spam update about two weeks to fully roll out, indicating ongoing volatility in search results. The Google helpful content update is now part of the core update; all of this leading to a 40% reduction in unhelpful content within search. Read more from Search Engine Land.
Local Ad Spending Forecast To Grow 9% To $172B In 2024
High political ad spending and higher growth from local CTV and digital platforms will boost U.S. local advertising by 9.3% to a projected $172 billion in 2024 versus the year before, according to BIA Advisory Services. BIA estimates that traditional media — TV and radio-over-the-air, direct mail, newspapers, magazines, directories, and out-of-home — will land at $88 billion giving it a 51.3% share of all local advertising. Digital media — OTT/CTV, TV and radio digital, PC/laptop, mobile (smartphone, tablet) and digital print media (newspapers, magazines and directories) — is projected to total $84 billion, with a 48.7% share. Read more from Media Post.
Meta announces range of updates to Advantage+ and shopping ads
Meta has unveiled a series of new ad updates, primarily targeting retailers and users of its automated Advantage+ campaigns. One significant update is the “Advantage+ creative optimizations,” automatically tailoring video ads for viewing on Reels or the mobile Facebook and Instagram apps with a 9:16 ratio, tapping into the growing popularity of Meta’s video formats. Additionally, Meta has enhanced its Advantage+ catalog ads, allowing the use of branded or customer demonstration videos instead of static images, offering personalized recommendations to users based on their interests. The platform also introduces more eCommerce ad options, integrates Shops ads and branded content ads, and enhances Reminder ads on Instagram with external links and expansion to Reels. Read more from Marketing Dive.
Apple looks to boost App Store ads with AI-powered buying tools
Apple is testing an AI-powered ad buying tool for the App Store that would automatically determine where to place ads, according to Business Insider reporting. The tool, which is being tested with a small group of advertisers, would allow them to input a budget and desired cost-per-acquisition target to inform the AI’s decision. Apple has spent the last few years focusing heavily on its advertising business by launching new ad formats across its suite of apps, as well as developing a video ad business for Apple TV+. Read more from Insider Intelligence.
Women’s Basketball Conference Tourneys Set Attendance, TV Marks
Last weekend’s women’s basketball conference tournaments broke attendance and viewership records, with the Big Ten, SEC, Pac-12, and ACC showcasing exhilarating games. The Big Ten tournament sold out for the first time, culminating in Caitlin Clark’s Iowa winning a three-peat in a thrilling overtime final. Approximately 109,000 fans attended the Big Ten tournament, and the title game on CBS drew over 3 million viewers, making it the most-watched women’s conference tournament game ever. Read more from BVM Sports.
