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Turn the Volume Up
Roger that. The Oracle of Omaha placed a bigger bet on Liberty SiriusXM with $267 million added to his existing share. Warren Buffett now owns 20.2 million “A” shares and 43 million “C” shares – about 19% of the media group. Liberty owns 78% of Sirius XM and has stakes in the Atlanta Braves and its associated projects, Formula One Group, iHeart Media, and Live Nation.
Iconic clips. NBCUniversal struck a deal with Snapchat utilizing its audio feature, Sounds. Now Snapchatters can add their favorite oh-so-quotable NBC TV shows and movies such as The Office, Back to the Future, Saturday Night Live and others to their snaps. Receivers of these clips will be able to swipe-up to learn more about the audio; Snapchat reports 521 million videos have used Sounds, resulting in 31 billion views.
Audio record. People are spending more on audio – attention, time, and money. According to PQ Media’s United States Audio Media Forecast 2021, advertising spend is pacing record growth – 32% increase for podcasts, 16.5% for Hispanic Audio, 14.2% for OTA, and 13.4% for streaming audio. Consumer usage is also expected rise 3.3%, averaging 13.7 hours weekly.
Tech in demand. Consumers have 5G on their minds and on their wishlists according to a recent survey by YouGov. When asked what tech items they’d like most if money were no object, 5G smartphones led the list, followed by video doorbells and robot vacuums. The new Xbox earned last place in the list.
There might be a small silver lining for brick-and-mortar retailers amid supply chain issues. According to a recent survey by Morning Consult, 74% of consumers indicate they’ll shop for items in-store versus online when they find delivery delayed or products unavailable.
Blame game. According to the same Morning Consult survey, in assigning blame for supply hassles, consumers are blaming federal government more than brands and stores. When asked who should get “a lot” of the blame, 31% identified the government while brands and stores hit just the 10% level.
Holiday Spirits Inbound?
A mixer with a kick. Alcohol delivery ecommerce pioneer, ReserveBar is continuing their growth-by-acquisition strategy. The company has announced the acquisition of Minibar Delivery. The move will build their retail footprint to more 5,000 local retail partners.
Cups runneth over. Not to be outdone, online grocery platform Instacart has boosted it’s same-day alcohol delivery footprint to nearly 75% of U.S. households with its new partnership with Midwest grocery chain, Meijer.
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