• Mars Inc.’s M&M’s released a new ad on Thursday featuring comedian Maya Rudolph, who announced that the brand is renaming itself to “Ma&Ya’s.” The spot comes just days after M&M’s placed its famous spokescandies on an “indefinite pause” and named Rudolph its “Chief of Fun” in what many industry experts believe is an effort to generate buzz for the brand’s upcoming Super Bowl ad. (Yahoo News)
• Chipotle Mexican Grill Inc. said it plans to hire 15,000 restaurant workers ahead of its busiest time of year, which it dubs “burrito season,” from March until May. The announcement presents a stark contrast to the layoffs that have impacted many white-collar jobs in recent weeks, particularly in the technology industry. (The New York Times)
• Anti-abortion demonstrators stormed Walgreens Boots Alliance Inc.’s annual general shareholder meeting in California on Thursday, protesting the pharmacy chain’s plan to begin selling abortion pills. Many other retail pharmacies, including CVS Health Corp. and Rite Aid Corp., announced similar plans to fill mifepristone prescriptions after the U.S. Food and Drug Administration approved the practice earlier this month. (Reuters) 
• Bed Bath & Beyond Inc. said it defaulted on its credit line and doesn’t have enough cash to pay down its debt, raising renewed alarm of a potential bankruptcy. The retail chain has closed hundreds of its stores in the past year. (CNBC)

Consumer Interest in Resale Hasn’t Moved Despite Retail Push

Morning Consult 

Project Poirot, the DOJ and the Unintended Consequences of Google’s Divesture

Trishla Ostwal and Catherine Perloff, Adweek

Splitting off GAM could push marketers toward Google’s owned and operated properties.

Google let Daily Wire advertise to climate crisis deniers, research shows

Geoff Dembicki, The Guardian

A media outlet founded by conservative influencer Ben Shapiro paid Google to advertise on search pages questioning whether the climate crisis is real, according to new research from a disinformation watchdog group.

Bloomberg, Axios, Politico, other business publishers rethink subscriber retention during the economic downturn

Kayleigh Barber, Digiday 

The economic downturn has made its mark on publishers’ advertising businesses in more ways than one. 

‘Stranger Things’ Was Most-Streamed TV Show in 2022

Todd Spangler, Variety

Nielsen says Disney+’s “Encanto” was the most watched movie on U.S. streaming services last year.

‘The Last of Us’ Is Just the Start for Sony

Jacky Wong, The Wall Street Journal

Videogames are shaping up as the next content gold mine for movies and television. Sony will be a major beneficiary.

FTX Bankruptcy: Comcast, Fox, CAA, Netflix Listed as Creditors to Crypto Firm

Alex Weprin, The Hollywood Reporter

The deals likely represent advertising and sponsorship deals that the media companies may not be paid back for, as well as services or subscriptions.

NBCU Chief Jeff Shell Says Comcast Open To “Bolt-On” Deals, Cites DreamWorks Animation Acquisition, Blumhouse Venture

Jill Goldsmith, Deadline

NBCUniversal CEO Jeff Shell said the company is always eyeing possible deals to bolster its business, citing the $3.8 billion acquisition of DreamWorks Animation in 2016 and Universal’s partnership with Blumhouse Productions.

BuzzFeed to Use ChatGPT Creator OpenAI to Help Create Quizzes and Other Content

Alexandra Bruell, The Wall Street Journal

CEO Jonah Peretti intends for artificial intelligence to play a larger role in the company this year.

Disney Reorganization Looms Ahead Of First Earnings Report Since Bob Iger’s Return

Dade Hayes et al., Deadline

The initial exuberance and relief following Bob Iger’s return as Disney CEO has been replaced by anxiety as speculation about a pending corporate restructuring is intensifying — and with it, rumors about the layoffs that are likely to follow. 

Senator pushes TikTok government-device ban enforcement

Ashley Gold, Axios

The TikTok ban, which Congress passed last December, is supposed to be implemented by Feb. 27, but it’s not yet clear how the federal government will do so.

Twitter’s staff cuts are helping spread misinformation in Africa

Alexis Akwagyiram and Alexander Onukwue, Semafor

The closure of Twitter’s sole office in Africa late last year has made it easier for false claims about political candidates to spread ahead of Nigeria’s election next month.

Substack introduces ‘private Substacks’ that readers can request to subscribe to

Aisha Malik, TechCrunch 

Newsletter platform Substack announced today that it’s introducing several new features, including private Substacks. A private Substack is a publication that you can host alone or readers can request to subscribe to read your posts. Writers can choose to approve or decline each subscription request.

Apple reportedly delays development of its own WiFi chips

Mariella Moon, Engadget

But the tech giant might still be working on a combined Bluetooth and WiFi chipset.

The rise of corporate rebranding

Eleanor Hawkins, Axios

Moments of disruption are an opportune time for companies to rethink their brand and positioning. Due to transformative shifts caused by the COVID-19 pandemic, more than half of U.S. businesses have attempted to reposition themselves within the last three years, according to an UpCity report.

TreSemmé tests new storytelling format for latest product launch

Emma Sandler, Glossy

To support the launch, TreSemmé invested in a tentpole campaign featuring a commercial with the U.S. Olympic artistic swimming team, OOH ads, a launch event in Los Angeles and a presence during NYFW at Spring Studios.

Why Auto Marketing Looks Poised for Growth in 2023

Megan Graham, The Wall Street Journal

Auto marketing fell less than expected last year as some car makers pursued brand-building, highlighting in particular their transition to electric vehicles.

What Happens When Digital Brands Have to Cut Back on Marketing

Malique Morris, Business of Fashion

With an uncertain economic outlook, digital brands are forced to make tough calls on whether to cut back on marketing at the expense of growth or continue to spend and accept lower profits.

How Asics Embraced Its Past To Secure Its Future

Rebecca Fulleylove, Creative Review

In recent years the sports brand has used its founding philosophy as the basis of its marketing campaigns, resulting in authentic, thoughtful and impactful work.

Fashion and beauty brands turn to ‘we made too much’ sales to offload inventory

Gabriela Barkho, Modern Retail

Sales and steep discounts are lasting well into January as more brands look to offload excess inventory.

Dotdash Meredith to lay off 7% of staff

Sara Fischer, Axios

Dotdash Meredith, one of the largest print and digital publishers in the country, is laying off 274 people, roughly 7% of its staff, its CEO Neil Vogel told employees in a note obtained by Axios Thursday morning.

Hasbro to Cut Global Workforce by 15%

Denny Jacob, The Wall Street Journal

The layoffs are another signal of economic uncertainty across sectors.

At Google, Meta and Other Tech Companies, the Layoffs Are Streaming Live on TikTok

Chris Stokel-Walker, The Information

Fired employees are posting through the tech recession as they turn to TikTok to vent, commiserate and network for their next job.

With Layoffs, Retailers Aim to Be Safe Rather Than Sorry (Again)

Jordyn Holman, The New York Times

Companies that ramped up hiring in areas like technology over the past few years are cutting back as customers slow their spending.

Corporate Layoffs Spread Beyond High-Growth Tech Giants

Chip Cutter and Theo Francis, The Wall Street Journal

Dow, IBM and SAP say they will lay off thousands of workers as belt-tightening becomes the new business priority.