We’re moving the Twitter train across to the Tech Watch track this week, so if you want the latest on the bird’s fortunes please change at Bank. Here on the Media Weekly, we’ll be journeying into Adland, making stops at TFL, Adweek, Netflix and more…
But just before we leave the station, it’s important to note that we are not alone in making this journey. A number of high-profile brands have now paused their advertising on Twitter, as the desire to take a break from Musk’s melodrama, reverberates around the industry.
Indoor outdoor
As numerous outlets including The Times report, passenger numbers on London’s tube system are at their highest level since the pre-pandemic era. Average passenger numbers have now risen back to 78% of where they were at before the pandemic, up from 45% at the start of the year. So if you are looking to invest in outdoor advertising (in an indoor underground setting), it’s possible you could grab yourself a footfall bargain, and of course these days the options come in both print and digital!
While this is just one dataset from one country, it offers as good a proxy as any in terms of gauging just how far back to reality we’ve travelled over the course of 2022. Weekend numbers are now at 90%, with some days having even surged beyond pre-pandemic figures.
Don’t like the ads? You could always talk back to them…
Also emanating from London this week, is the news that digital audio advertising platform AdTonos has launched a new form of advertising that allows consumers to talk back to brands. The platform, known as YoursTruly, integrates with both Amazon Alexa and Google Assistant, working on smart speakers and most Android mobile phones. It means that listeners can respond to an ad in real time, to receive more information or perform other actions.
“We believe that YoursTruly is state-of-the-art when it comes to fulfilling the untapped, thrilling potential for innovation in the Ad-tech space,” says Michal Marcinik, CEO & Founder, AdTonos. “Truly, we feel success in Adtech is all about the simplicity of use for brands and advertisers – and in the listener experience.”
Pucker up for a revenue reset
Adweek published a great article on Thursday, written by Senior Media Reporter, Mark Stenberg. In it, he examines the sensational rise of Puck, a newsletter-based publisher founded in 2021, which is now beginning to build a successful advertising business around its reader revenue base.
“In its first year, the 25-person company has accrued nearly 200,000 email subscribers, roughly 20,000 of whom pay $12.99 per month or $100 per year for unfettered access to its reporting,” writes Stenberg. “But while subscriptions have driven immediate revenue, [the company] has used the runway afforded by its paid product to build an advertising business… Puck has worked with approximately 40 ad partners to date, including Hulu, Walmart, Meta, Goldman Sachs, Northern Trust Wealth Management and HBO.”
No skips with Netflix
Stories like that of Puck’s are interesting, because they provide tangible examples of an industry that, while for a long time consumed by the allure of reader revenues, seems once again to be waking up to the opportunities provided by advertising.
One such high-profile example comes in the form of Netflix, which we last week reported was due to rollout its ad-supported model this month. That rollout has now taken place, and the hybrid option is now available to consumers in twelve countries around the world, including the US where it is priced at $6.99.
The industry will no doubt be keeping a close eye on performance of this package, as it could provide the proverbial canary in the cage when it comes to achieving the right balance between reader and advertiser revenues in 2023 and beyond…
Not getting any better for Meta
It’s the US midterms this week, and CNBC runs with a story highlighting the shifting patterns in political ad-spend in recent years. “In the 2020 election cycle,” writes Tech Ploicy Reporter Lauren Feiner, “the Democratic Governors Association spent roughly 75% of its advertising budget on Facebook… For the 2022 midterm elections, the group has steered much of its money elsewhere. Ahead of Election Day on Nov. 8, just half of its spending is taking place on Facebook.”
Republican spend too, is being pulled from the platform, while both parties eye the enticing reach of connected TV and streaming platforms, which the IAB says are set to grow overall advertising revenue by 39% this year.