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Week in Review
Advertising
- Pandora Media Inc. said it is expanding its interactive voice ads, initially launched in December with brands such as Doritos, Ashley HomeStore and Unilever PLC, to a wider audience.
Social media earnings
- Snap Inc. reported 17 percent year-over-year revenue growth in the second quarter to $454 million, and daily users rose 17 percent from the prior-year period to 238 million. Snap warned, however, that the ongoing pandemic could impact third-quarter advertising demand, which is usually buttressed by seasonal events, such as the back-to-school season, film releases and live sports.
- Twitter Inc.’s second-quarter earnings showed 34 percent growth in daily active users (186 million vs. a projected 172.8 million) compared to the year-earlier period, but fell short of analyst expectations on revenue ($683 million vs. a projected $707 million), with ad revenue down 23 percent year over year to $562 million. Twitter said that it’s seen a gradual recovery in advertising since March and that ad revenue is just 15 percent lower in the last three weeks of June compared to the same time last year.
Logos
- The U.S. Space Force has revealed its slogan — “Semper Supra,” Latin for “Always Above” — and logo, a silver and black delta shape that has more than a passing resemblance to Star Trek’s Starfleet logo, but the official U.S. Space Force Twitter account notes that the delta imagery dates from before Star Trek’s debut in 1966.
E-commerce
- Google said it is making it free for brands to sell products on Google Shopping by waiving sales commissions, which ranged from 5 percent to 15 percent, and permitting brands to use third-party payment services such as Shopify instead of Google’s services. The new initiative is aimed at luring more sellers and products onto Google’s shopping site in direct competition with Amazon.com Inc.
- Amazon.com Inc. confirmed that it will delay Prime Day, the company’s biggest shopping event of the year usually held in mid-July, in the United States over coronavirus concerns but did not set a new date. Amazon said it will also host a Prime Day in India on Aug. 6-7, making 2020 the first year that Prime Day didn’t occur on the same day for all participating markets.
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What’s Ahead
- Companies reporting earnings this week include Beyond Meat Inc. on Monday; 3M Co. and McDonald’s Corp. on Tuesday; Blue Apron Holdings, Inc. and Boeing Co on Wednesday; Alphabet Inc. and Amazon.com Inc., Apple Inc. and Yum! Brands Inc. on Thursday; and Under Armour Inc. and Brookfield Property Partners LP on Friday.
- A court hearing to approve a $305 million bid from Sparc LLC, a collective that includes Simon Property Group and Authentic Brands Group, to keep at least 125 of Brooks Brothers’ stores open for business takes place Aug. 3. Competing offers are due by Aug. 5, and a hearing to approve the final sale of Brooks Brothers’ assets is set to take place Aug. 11.
- Adweek’s NexTech Live Virtual Summit is July 27-30, aimed at bringing together leaders in the brands world to discuss how to implement integrated technology strategies.
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Events Calendar (All Times Local)
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Morning Consult Brands Top Reads
1) US Space Force explains why its logo isn’t a Star Trek ripoff
Jon Porter, The Verge
2) Toyota loses its brand name in European logo redesign
Alexandra Jardine, Ad Age
3) The Bizarre Fall of the CEO of Coach and Kate Spade’s Parent Company
William Cohan, ProPublica
4) With Canceled Plans in the Rearview Mirror, People Are Tweaking Itineraries and Hitting the Road for Vacation
Alyssa Meyers, Morning Consult
5) Wieden+Kennedy lays off 11 percent of staff
Lindsay Rittenhouse and Judann Pollack, Ad Age
6) King Arthur Flour changes its name, logo in rebrand
Alexandra Deabler, Fox Business
7) FDA expands hand sanitizer recall to at least 75 brands across the U.S.
Kelsie Sandoval, NBC News
8) A celebrity endorsement, for $500
Rebecca Jennings, Vox
9) For some brands, General Mills is prioritizing brand advocates over influencers
Seb Joseph, Digiday
10) Coca-Cola to cut ‘zombie brands’ as it looks to ‘weed out’ the poor performers
Molly Fleming, MarketingWeek
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