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Things That Are Growing
Whale of pods. The IAB is predicting podcast ad sales will top $2.13 billion this year. That’s up about 47% and layers on top of last year’s 72% growth. The Bureau’s research doesn’t predict the growth slowing down anytime soon, pegging $4.2 billion as the predicted size of the market in 2024.
Bigger rewards. Kohl’s has boosted its Kohl’s Rewards benefit by 50 percent after a pilot program across eight markets and 100 stores generated a lift in sales. Members of the retailer’s rewards program can now earn Kohl’s Rewards at a 7.5 percent rate if they use the Kohl’s store card for the purchase. The previous rate of 5 percent, will still hold for customers choosing not to use their Kohl’s card.
I need you to buy me a Walmart gift card. The FBI recently released estimates of Business Email Compromise (BEC) fraud and it’s not good news. They estimate that about $43 billion was stolen from companies and individuals over the last five years. The fraud occurs when scammers leverage compromised emails to lure recipients to transfer funds or give up useful financial information like employees’ W-2 forms and the like.
Discord: Platform du jour. Fashion brands have stepped into the Discord world – creating communities online customers care about. The resale company, StockX, made a splash onto the platform by breaking records as the brand server with over 20,000 users joined in a single day. Though Discord channels require constant moderation by brands, by its nature, it attracts the most loyal or active customers a brand may have.
Ads of a New Feather. Peacock announced innovations for advertising on the streaming platform – Ad Frames and In-Scene Ads. With Peacock Ad Frames, display advertisements can be “framed” around the video content, providing opportunities for geotargeting and ecommerce. For In-Scene Ads, a brand’s product and messaging can be inserting into the video content through post-production – great for unscripted programming.
Split 50/50. Last week, TikTok unveiled the latest with its advertising: TikTok Pulse. This opportunity is “a new contextual advertising solution that ensures brands’ ads are placed next to the top 4% of all videos on TikTok.” Ad revenue generated from the program will be split 50/50 with the eligible creators. The program requires the creators’ content to be brand-safe, and will provide post-campaign analytics.
Battling For First
Quick, to the BatPod! A new serialized podcast featuring comic book hero, Batman, is clobbering the competition. Batman Unburied has taken the number one spot on Spotify from talk show host Joe Rogan. The first two episodes released on May 3rd, with new installments coming out on Tuesdays.
Do you hear ticking? Short video social platform TikTok is on track to leapfrog YouTube in time spent on the platform by U.S. users according to eMarketer. The app already passed Facebook and Instagram in 2020. Now, while projected to surpass YouTube in time-spent this year, the app’s ad revenue likely won’t beat the veteran streamer until 2024.
Running hard. Shoe brands Nike and Adidas have been locked in a decades-long duel for top spot in the athletic wear industry. While Nike still holds the edge, Adidas may be gaining some ground as they lace up a long-term partnership with Foot Locker. The retailer recently scaled back its Nike inventory.
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