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Essential marketing and PR news & intel to start your day.
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March 21, 2023
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The State of Food & Beverage
In her latest semiannual look at the food and beverage industry, Morning Consult analyst Emily Moquin finds that more than half of U.S. consumers are changing the way they eat and drink in response to inflation. Among those who adjusted their behaviors, 83% said they are dining out at restaurants less often.
For more insight on how food and beverage choices are changing amid inflation, download the full report here: The State of Food & Beverage H1 2023.
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Today’s Top News
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Amazon.com Inc. will lay off an additional 9,000 employees in the coming weeks across mainly its cloud computing, advertising and Twitch livestreaming units, the company announced. The cuts, which Chief Executive Andy Jassy said were prompted by “the uncertainty that exists in the near future,” follow an earlier round of mass layoffs that began in November and affected more than 18,000 employees in the tech giant’s retail and recruiting groups. (CNBC)
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Outgoing Starbucks Corp. CEO Howard Schultz stepped down and passed the role to his successor, Laxman Narasimhan, almost two weeks earlier than a previously announced transition date of April 1. Narasimhan, who was most recently the CEO of U.K.-based consumer goods company Reckitt Benckiser Group PLC, has spent the last six months shadowing Schultz to learn Starbucks’ culture and operations. (The Wall Street Journal)
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Fanatics Inc. signed a 10-year deal to become the official uniform supplier of the National Hockey League beginning in the 2024-2025 season, marking the first time the sportswear retailer’s branding will appear on professional athletes’ jerseys. NHL uniform rights came back into play last July when current supplier Adidas AG announced it would not seek renewal of its seven-year contract. (CNBC)
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ByteDance Ltd.’s TikTok unveiled significant updates to its community guidelines, aimed at making the platform more transparent and secure, particularly as it relates to artificial intelligence and climate and election misinformation. The changes come just days before TikTok CEO Shou Zi Chew will face questioning by the U.S. House Energy and Commerce Committee. (TechCrunch)
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A MESSAGE FROM MORNING CONSULT |
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What Else You Need to Know
Warner Bros. Discovery’s Upfront Currency Partners Won’t Include iSpot
Parker Herren, Ad Age
VideoAmp and Comscore will be available for advertisers to transact on with Warner Bros. Discovery at this year’s upfront.
Coca-Cola Creates AI Platform That Lets People Use Its Visual Assets To Create Works Of Art
Steve McClellan, MediaPost
The company worked with a number of partners on the project including OpenAI, Bain, influencer artists, and OpenX/WPP, the dedicated marketing unit WPP created when it became The Coca-Cola Company’s global network marketing partner in 2021.
TikTok Runs Ads in Washington Before CEO’s Houes Committee Hearing
Ad Age
‘Safety. Your priority. Our commitment,’ read one TikTok ad at Washington’s Union Station.
How Netflix could up the ante for advertisers as it explores solutions to its ad tech conundrum
Ronan Shields, Digiday
Earlier this year, it emerged that Netflix was exploring potentially adjusting its ad strategy after what can be considered a tricky start to the advertising business. Sources said outcomes could include the streaming service overhauling its relationship with Microsoft, which has powered Netflix’s ad tech. Sources familiar with Netflix’s early conversations suggested they were a precursor to the streaming giant eventually building or buying its own ad tech.
‘I ♥ NY’ gets modified to ‘We ♥ NYC’
Audrey Kemp, The Drum
After 46 years of lining New York City gift shops, ‘I ♥ NY’ is becoming ‘We ♥ NYC’ to better reflect the city’s collective identity.
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Media/Entertainment/Influencers
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Magic Johnson Joins Josh Harris’ Bid for Washington Commanders
Scott Soshnick and Eben Novy-Williams, Sportico
Earvin “Magic” Johnson has joined the bidding for the Washington Commanders as part of a group led by 76ers and Devils co-owner Josh Harris, according multiple people familiar with negotiations.
Netflix plans to release 40 more games this year, will add Monument Valley in 2024
Aisha Malik, TechCrunch
Netflix has announced that it has 40 games slated for launch this year and has 70 in development with its partners. The company also has 16 games currently being developed by its in-house game studios. Netflix launched games in November 2021 and has released 55 titles since then.
Marvel Studios Veteran Producer Victoria Alonso Exits
Jordan Moreau, Variety
She joined Marvel Studios in 2005 as executive vice president of visual effects and postproduction, serving as co-producer on early Marvel Cinematic Universe films like “Iron Man,” “Iron Man 2,” “Thor” and “Captain America: The First Avenger.” Since then, Alonso has worked as an executive producer on every Marvel Studios film and TV show since 2012’s “The Avengers.”
Pricing for the Creator Economy Is All Over the Map
Catherine Perloff, Adweek
More than a third of creators set their rates by guessing, per a report from Later and Mavrck.
Fox Producer Says She Was Set Up in Dominion Case
Nicholas Confessore and Katie Robertson, The New York Times
The producer, Abby Grossberg, said in a pair of lawsuits that the effort to place blame on her and Maria Bartiromo, the Fox Business host, was rooted in rampant misogyny and discrimination at the company.
Publishers tout generative AI opportunities to save and make money amid rough media market
Sara Guaglione, Digiday
Generative artificial intelligence technology will be an area of focus for some media companies this year as they work to cut costs and find new revenue opportunities amid a tough media market, according to fourth quarter earnings calls held by BuzzFeed Inc., Dotdash Meredith, Gannett and The Arena Group.
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Social Media and Technology
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Twitter testing government ID-based verification, new screenshots show
Sarah Perez, TechCrunch
Twitter appears to be testing a new verification process for Twitter Blue subscribers that would involve submitting a government ID. Code-level insights reveal a process for sending in a photo of the user’s ID, both front and back, along with a selfie photo to verify their Twitter account.
Microsoft plans mobile games app store to rival Apple and Google
Tim Bradshaw, Financial Times
Xbox boss Phil Spencer says store could launch as soon as next year if regulators clear Activision Blizzard deal.
Meta Manager Was Hacked With Spyware and Wiretapped in Greece
Matina Stevis-Gridneff, The New York Times
Artemis Seaford, a dual U.S.-Greek national, was targeted with a cyberespionage tool while also under a wiretap by the Greek spy agency in a case that shows the spread of illicit snooping in Europe.
The TikTok Investors With the Most to Lose From a U.S. Ban
Juro Osawa, The Information
For venture investors that have collectively invested more than $8 billion in TikTok’s parent company, ByteDance, the fate of the video app in the U.S., where officials are seeking changes to its ownership, could mean the difference between a huge portfolio win and a soul-crushing loss.
How Meta Verified Compares to Other Social Subscriptions
Isabelle Sarraf, The Information
Pegged as a bundle “to help creators establish their presence” on its platforms, Meta Verified grants subscribers a blue checkmark, extra protection from impersonation and a direct line to customer support for an $11.99 monthly price tag (or $14.99 on mobile). But it will no longer include an increase in visibility and reach for paid users. After testing out the feature, Meta received feedback that the visibility boost was causing users confusion, according to a spokesperson. It joins a crowded slate of subscriptions offered by social networks, as the chart above shows.
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Pepsi goes all in on TikTok for its Champions League Final kick-off
Hannah Bowler, The Drum
For Pepsi’s seventh Uefa Champions League Final kick-off show, it has launched a three-month fan engagement TikTok campaign and will be broadcasting live from the platform.
Foot Locker’s New CEO Plots Route to $9.5 Billion in Sales
Kim Bhasin, Bloomberg
Foot Locker Inc.’s new chief executive officer has unveiled a turnaround plan for the shoe retailer that hopes to break $9.5 billion in annual sales by 2026.
Nike sales to gain from Adidas-Kanye split, Jordan Retro demand
Ananya Mariam Rajesh and Granth Vanaik, Reuters
Nike is expected to report a rise in third-quarter revenue and grow its market share through 2023, helped by major rival Adidas’ split with designer and rapper Kanye West that caused the German company to lose about $600 million in quarterly sales.
Feminine care brands are getting creative despite marketing limitations
Gabriela Barkho, Modern Retail
In October, Meta announced updates to its policies to be more inclusive of ads focused on women’s health products, including reproductive and sexual health. The update was followed by an investigation by the Center for Intimacy Justice into Meta’s rejection of rejections of ads for femcare products.
Fun foods proliferate as Americans snack more than ever
Jennifer A. Kingson, Axios
An explosion of new products is generating buzz and profits for food makers and surprise and delight for shoppers — but helping make Americans fatter and unhealthier than ever.
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Job Listings Abound, but Many Are Fake
Te-Ping Chen, The Wall Street Journal
In an uncertain economy, companies post ads for jobs they might not really be trying to fill.
From financial wellness benefits to reskilling programs: How HR execs at Fortune 500 companies are recession-proofing their talent strategy
Amber Burton et al., Fortune
Few leaders feel the financial belt-tightening in corporate America as profoundly as HR executives. After two years of rapid-fire hiring, many have been forced to slow down, halt recruiting, and take a leaner, recyclable approach to fill existing vacancies. For some, it can feel like whiplash—a complete turnaround in talent strategy. But others say it’s par for the course for HR leaders who must often shift focus in response to the macroeconomic climate.
Amazon Delivery Firms Say Racial Bias Skews Customer Reviews
Spencer Soper and Matt Day, Bloomberg
Time and again, they say, drivers of color get worse feedback than their White counterparts. The ratings help determine pay and employment.
The four-day workweek: Why Amplitude tried it and wants to make it permanent
Katie Hicks, Marketing Brew
Last month, results from the world’s largest trial of the four-day workweek—conducted in the UK between June 2022 and December 2022—indicated that the five-day, 40-hour workweek may be as culturally relevant as the working conditions in which it originated.
Pay transparency is spreading
Cora Lewis, The Associated Press
U.S. employers are increasingly posting salary ranges for job openings, even in states where it’s not required by law, according to analysts with several major job search websites.
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Opinions, Perspectives and Research
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How marketers and creators are thinking about a potential TikTok ban
Minda Smiley, Marketing Brew
A ban could have a big impact on advertisers who’ve made the app a key part of their marketing strategies.
Nike, Powerade Found Their Gen-Z Ambassador in Ja Morant. Will They Keep Him?
Kim Bhasin and Ella Ceron, Bloomberg
There are millions of dollars in endorsement deals at stake for the Memphis Grizzlies’s point guard. His sponsors are hoping that he’ll remain a suitable pitchman for their products, and are betting on him as one of the league’s first Gen-Z stars as many established names get closer to retirement.
De-influencing and loyalty top concerns for beauty brand leaders
Zofia Zwieglinska, Glossy
Executives from companies including Unilever, Coty and Estée Lauder came together to discuss their current challenges and opportunities. Talk tunrned to what brand loyalty means today, how to manage de-influencing, and what investments in sustainability certifications and web3 make sense.
Cool People Accidentally Saved America’s Feet
Amanda Mull, The Atlantic
Millennials popularized bulky, super-cushioned shoes. Then Millennials got old.
How the internet changed digital culture
Megan Williams, Creative Review
Omar Kholeif’s new book charts the rise of networked culture and its relationship with creativity. We hear from the writer and curator about the biggest turning points and what ‘internet art’ really means.
These People Avoid the TikTok App, Not the TikTok Videos
Ann-Marie Alcántara, The Wall Street Journal
Though more than a billion people use TikTok every month, many social-media fans refuse to download or engage with the video-sharing app.
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