Top Stories

  • Podcast ad revenue in the United States is expected to reach $1 billion this year, increasing 14.7 percent from the year prior, or about half as much as anticipated at the onset of the pandemic, according to the Interactive Advertising Bureau. The forecast comes as SiriusXM Holdings Inc. announced its acquisition of podcast company Stitcher from E.W. Scripps Co. for $325 million, and as more companies lean into the medium: 47 percent more brands incorporated podcasts into their ad buying plans this year. (Adweek)
  • Americans are snacking more and drinking less soda amid the pandemic, according to details from PepsiCo Inc.’s second quarter earnings, with revenue from its Frito-Lay North America division, which makes potato chips and other snacks, rising 6.6 percent to $4.27 billion and its North American beverage division dropping 6.6 percent to $4.97 billion. The company overall reported flat revenue for the quarter ending on June 13. (The Wall Street Journal)
  • Red Bull GmbH has fired its top two North American executives, Chief Executive Stefan Kozak and President and Chief Marketing Officer Amy Taylor, following internal tensions after employees leaked a letter to leadership criticizing the company’s “public silence” on the Black Lives Matter movement and a slide from a presentation at a corporate event that featured racist stereotypes. Florian Klaass, Red Bull’s global head of music, entertainment and culture marketing, was also fired for his role in the presentation, according to a person with direct knowledge of the firings. (Business Insider Prime)

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Events Calendar (All Times Local)

07/14/2020
Digiday+ Talks: How To Reach Gen Z 10:00 am
Vogue Business Webinar: How do shoppers want to pay in 2020? 11:00 am
A Starting Point—Behind the Launch with Chris Evans, Mark Kassen, Joe Kiani, and Mia Charity 1:00 pm
MozCon
07/15/2020
MozCon
07/16/2020
Vogue Business Webinar: The shifting sands in US retail 12:00 pm
Customer Experience: New Goals for Brands amid the Pandemic 2:00 pm
View full calendar

New Report: How the Pandemic Has Altered Expectations of Remote Work

COVID-19 is reshaping the future of work more rapidly than employers could have planned for.

As balancing business and safety needs becomes more complex and talent expectations evolve, employee work preferences and habits are also changing. Download the full report to learn what employers can do and expect as the new norm takes place.

Advertising

Facebook Promises Better Guardrails For Brands Scared Of The Chaos In Its News Feed
Garett Sloane, Ad Age

Facebook Inc. is working to help advertisers more clearly understand the way it monitors hate speech and the context in which ads run amid brand safety concerns.

Pay TV Ad Revenue Per User Inches Up In Q1, With Promise Of Advanced Ad Growth
Wayne Friedman, MediaPost

Average ad revenues per user for pay TV companies have increased slightly through the first half of the year with the current average at about $8 to $9, according to MoffettNathanson Research.

Publishers Looking to Grow Ad Revenue Now Have a New Google Hurdle to Deal With
Ronan Shields, Adweek

Google is making policy changes to AdSense that will require media owners to more thoroughly vet their advertising partners.

This new Apple ad is an ode to our working-from home hellscape
Jeff Beer, Fast Company

Apple Inc.’s latest campaign serves as a sequel to its award-winning 2019 spot called “The Underdogs,” and clocks in at seven minutes.

Media and Entertainment

Peacock, NBCUniversal’s New Streaming Service, Joins Crowded Field at Challenging Time
Lillian Rizzo and Joe Flint, The Wall Street Journal

NBCUniversal’s streaming service launches tomorrow, touting limited ads and a variety of subscription tiers for consumers to choose from.

‘Tenet’ Likely to Be Delayed Again Because of Coronavirus Surge, Analyst Predicts
Brent Lang, Variety

Eric Handler, a leading exhibition industry analyst with MKM Partners LLC, said that considering the rise of coronavirus cases in markets such as Texas, Florida and California, “Tenet” will likely be pushed again.

ViacomCBS Sets Merged Diversity And Inclusion Team, Reveals Leadership Team To “Break New Ground” In Representation
Dino-Ray Ramos, Deadline

The diversity and inclusion teams from Viacom and CBS have merged to form one “super team,” which will work to create initiatives that encourage greater representation.

Quibi Wins Court Fight as Judge Refuses to Disable Turnstyle
Gene Maddaus, Variety

A judge ruled that video company Eko did not show that Quibi’s use of its signature “Turnstyle” feature would cause irreparable harm to Eko.

Social Media and Technology

Wells Fargo tells employees to delete TikTok from their company devices
Brian Fung, CNN 

The company said that a “small number of employees with corporate-owned devices” had downloaded the app, and were asked to remove it due to privacy and security concerns.

PR and Marketing

Demand for Chief Diversity Officers Is High. So Is Turnover.
Chip Cutter and Lauren Weber, The Wall Street Journal

Many who have held the position have left their companies due to limited access to resources, unrealistic expectations and lack of support from senior executives.

Trump supporters are stocking up on Goya products in response to boycott of the brand
Catherine LeClair, Business Insider

Supporters of President Donald Trump are participating in a “buy-cott” of the brand, with support from conservative politicians including Sen. Ted Cruz (R-TX) and Sen. Marco Rubio (R-FL).

American Airlines reviewing photographs of Sen. Cruz on flight without a mask
Alex Gangitano, The Hill

The airline requires all passengers to wear masks, and said it reached out to Cruz after photos surfaced of him on board a plane without one.

New York & Co. says it may close all 400 stores as parent files for bankruptcy
Hamza Shaban, The Washington Post

The latest retailer felled by the pandemic said it plans to continue operating in the near term, but could close up to all of its 400 locations across 32 states.

Johnnie Walker Whisky Will Come in Paper Bottles Next Year
Kathryn Lundstrom, Adweek

Diageo PLC is partnering with venture management company Pilot Lite to create a new company, Pulpex Limited, to create sustainable packaging for its products.

Burger King is debuting a new Whopper made from cows that burp and fart 33% less
Kate Taylor, Business Insider

Burger King is trying to cut down on how much cows burp and fart, as the burger chain attempts to push the industry to reduce methane emissions.

The Bronco Is Back, Thanks to a Group of Obsessed Ford Employees
Keith Naughton, Bloomberg 

The group, known as the Bronco Underground, has pushed for the return of the vehicle for years, sketching and modeling a new version of its ’60s heyday.

How Nespresso’s coffee revolution got ground down
Ed Cumming, The Guardian

The popular coffee system filled a gap in the market when it launched, but could struggle to keep up its momentum as consumers pay more attention to environmental impact and so-called “coffee snobs” become more commonplace.

Chipotle will test cauliflower rice as consumers cut grains out of their diets
Amelia Lucas, CNBC

Customers at 55 stores in Colorado and Wisconsin will have the option to substitute cauliflower rice for white or brown rice.

Apple Pessimistic on Full 2020 Return to U.S. Offices, Pushes Retail to Work Remote
Mark Gurman, Bloomberg

Apple Inc. is encouraging employees from re-closed stores to work from home, serving customers online or over the phone.

How LifeAid sales stayed healthy despite CrossFit controversy, gym closures
Kenneth Hein, The Drum

LifeAid Beverage Co. canceled its sponsorship of the CrossFit Games at the onset of the controversy, and said it has remained on track for annual sales goals despite the pandemic.

Flour and Toilet Paper Are Back at N.Y. Supermarkets, but There’s a Catch
Daniel E. Slotnik, The New York Times

Due to adjustments made because of the pandemic, shoppers are getting used to less variety in isles. 

With Robot Deliveries and Outdoor Tents, Campus Dining Will Be Very Different
Jane Black, The New York Times

For students who do return to campus, meals will likely look different, with masked-and-gloved workers and plexiglass barriers as opposed to self-serve stations.

Starbucks Is Crowned the Most Intimate Brand in Fast Food
Kaila Mathis, Adweek

Chick-fil-A Inc. was runner up in the 10th edition of the Brand Intimacy Study by MBLM, an emotional science-based agency.

Opinions, Editorials, Perspectives and Research

Users, Advertisers And Society Need A Better Facebook. Here’s How We Fix It
Jonathan Greenblatt, Ad Age

Greenblatt, the chief executive and national director of the Anti-Defamation League, wrote that Facebook feeds divisiveness, and could benefit from shutting down hateful groups, adjusting its policies on misinformation and providing support for users who experience abuse online.

TikTok’s biggest problem is outside its control
Casey Newton, The Verge

Facing concerns from political and corporate institutions, TikTok parent company ByteDance Ltd. likely has little control over the fate of the app.

How Walmart Can Beat Amazon at Its Own Game
Scott Galloway, Marker

With Walmart+, Walmart Inc. stands to make gains by joining the subscription service economy.

Morning Consult