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Essential marketing and PR news & intel to start your day.
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March 13, 2023
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Today’s Top News
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Roku Inc., Etsy Inc., Roblox Corp. and Vimeo Inc. were among the companies significantly impacted by last week’s collapse of Silicon Valley Bank. (Axios) Meanwhile, the U.S. Treasury, the Federal Reserve and the Federal Deposit Insurance Corp. said Sunday that they will “fully protect” all depositors of the failed bank. (The Information)
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Chick-fil-A Inc. unveiled a $1 billion plan to expand to five international markets beyond North America by 2030 following nearly a decade of significant domestic growth. The fast food chain’s previous international forays, including to South Africa and the United Kingdom, were short-lived and unsuccessful. (The Wall Street Journal)
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The Coca-Cola Co.’s Powerade brand pulled all of its online ads and website content featuring Memphis Grizzlies point guard Ja Morant after the NBA star received a four-game suspension for posting a video of himself flashing a gun at a Denver strip club. The long-term future of Morant’s endorsement deal with the sports drink, which formally began less than two weeks ago, is unclear. (The Drum)
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| A MESSAGE FROM MORNING CONSULT |
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What Else You Need to Know
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Media/Entertainment/Influencers
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Netflix Wins Six Oscars, Including for ‘All Quiet on the Western Front,’ Guillermo del Toro’s ‘Pinocchio’
Todd Spangler, Variety
Streamer had received 16 Academy Awards nominations.
Everything Everywhere All at Once won all the Oscars acting categories in which it was nominated—and more
Julia Malleck, Quartz
The 95th Academy Awards was a successful night for the zany sci-fi comedy action film, and marked several big wins for Asian representation.
TikTok’s rising stars every year since 2019 show how much the app has changed — and stayed the same
Amanda Perelli, Insider
When TikTok first gained popularity in 2019, its Gen-Z users shared videos of themselves lip syncing to popular songs, acting out dance trends, and starring in viral challenges. Since then, TikTok has become one of the hottest social-media platforms, and the app has become a place for creators of all ages and content categories to grow an audience.
Group Black Submits Bid of About $400 Million for Vice Media
Jessica Toonkel et al., The Wall Street Journal
Company looks to acquire embattled media group once valued at $5.7 billion.
The Messenger, a Media Start-Up, Aims to Build a Newsroom Fast
Benjamin Mullin, The New York Times
The company, which will begin operating in May, plans to have around 550 journalists covering entertainment, politics and sports within a year.
Roku Says $487 Million of Its Cash, or 26%, Was Held in Failed Silicon Valley Bank
Todd Spangler, Variety
About one-fourth of Roku’s cash and equivalents — nearly half a billion dollars — has been held in Silicon Valley Bank (SVB), which was shut down by financial regulators Friday after it collapsed. And the streaming platform company said it’s unsure how much of that cash it will recover.
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Social Media and Technology
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Etsy is delaying seller payouts following Silicon Valley Bank’s collapse
Emma Roth, The Verge
The DIY marketplace is pressing pause on payouts until it can route deposits through one of its other payment partners. But some sellers feel as if they’ve been left in the dark.
As Twitter failures go from bad to worse, users wonder how long it can stay online
Jennifer Korn, CNN
The outages threaten to drive away users and advertisers, some of whom are already frustrated with Musk’s controversial remarks and early decisions running the company. “When you lump it in with some other issues that are going on, it becomes more of a reason to potentially steer away from giving ad dollars to Twitter,” Angelo Zino, senior equity analyst CFRA Research, told CNN.
Roku, Roblox and others disclose their exposure to SVB in SEC filings
Sarah Perez, TechCrunch
The fallout from the collapse of Silicon Valley Bank is impacting a range of startups and larger firms including, as we know now from SEC filings, publicly traded companies like Roku, Roblox, Quotient, and others.
Mental health startup Cerebral shared private patient data with Google, Meta and TikTok
Igor Bonifacic, Engadget
The company exposed the personal information of more than 3.1 million US users.
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Estée Lauder launches Nutritious, in bid for Gen Z
Sarah Spruch-Feiner, Glossy
With a new three-piece skin-care collection, Estée Lauder is making a bid for Gen Z. The collection, dubbed Nutritious, debuts on Sunday and will be available at all Ulta Beauty locations.
Kroger spent millions advertising its own peanut butter—why?
Ryan Barwick, Marketing Brew
Private labels are hot, hot, hot.
Adidas has received over 500 offers for massive unsold Yeezy merchandise
Parija Kavilanz, CNN
Adidas has received hundreds of offers for the mountain of unsold Yeezy shoes designed by Ye, the artist formerly known as Kanye West. Its CEO would prefer to just get rid of them entirely, but is struggling to figure out how to do it.
That Ikea x Patagonia collab? Generative AI made it happen
Jesus Diaz, Fast Company
Creative director Eric Groza reveals how he crafted a viral collaboration between Ikea and Patagonia using generative AI.
How Levi’s is Using K-Pop’s TikTok Popularity to Appeal to Gen Z
Gillian Follett, Ad Age
The brand’s newest global ambassadors are K-pop girl group NewJeans, who will feature in Levi’s social media content throughout 2023.
Sephora and TikTok team up on new content program for emerging brands
Sarah Spruch-Feiner, Glossy
Sephora and TikTok, in partnership with the marketing agency Digitas, announced on Monday a new initiative, dubbed the Sephora x TikTok Incubator Program.
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Opinions, Perspectives and Research
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Advertising returns to depicting women more frequently in domestic roles, study finds
Sara Karlovitch, Marketing Dive
Fifty-seven percent of characters in advertisements across 2021 and 2022 were women, while 43% were men, according to the “Gender in Advertising 2023 Report” from CreativeX.
The future of TV is up in the air
Janko Roettgers, The Verge
Broadcasters are betting that antennas and modern DVRs will help them stay relevant. But a stalled transition to ATSC 3.0 and massive growth of linear streaming services could throw a wrench into those plans.
Influencer Parents and The Kids Who Had Their Childhood Made Into Content
Fortesa Latifi, Teen Vogue
It’s commonplace for young people of this generation to have their triumphs and travails documented on the Internet, with a digital footprint that follows them from platform to platform over the years. But for some young people, their parents shared more than evidence of an elementary school Spelling Bee win or a smiling photo of their first day in college.
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