8 min read

June 12 2023 - Monday Roundup

June 12 2023 - Monday Roundup

👋Happy Monday friends. We're back with our Friday + weekend roundup, nothing major worth noting, let's get into it –

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Top Stories

Netflix has reportedly seen a surge in new subscriber sign-ups after announcing its crackdown on password sharing. Research firm Antenna revealed that Netflix gained nearly 100,000 daily sign-ups on May 26 and May 27, following the announcement that it would charge password sharers $7.99 per month for an additional membership. Despite an increase in cancellations, the number of new sign-ups exceeded the average daily rate observed during the initial Covid-19 lockdowns. While the long-term impact of the crackdown remains to be seen, these initial findings suggest a promising outcome for Netflix's efforts to curb password sharing.

DocuSign's shares saw a significant increase of over 9% in after-hours trading following its latest quarterly results and outlook. The e-signature company experienced rapid growth during the COVID-19 pandemic as remote work and virtual options for signing deals became prevalent. However, as return-to-office trends picked up and market conditions changed, DocuSign's growth slowed. The company has undergone changes, including job cuts and leadership appointments. The turnaround efforts seem to be paying off as DocuSign reported improved results and provided a higher outlook for the current quarter and fiscal year.

Illumina's CEO Francis deSouza has resigned amid regulatory hurdles and a proxy fight with activist investor Carl Icahn. The gene-sequencing test maker is facing challenges over its $7 billion deal with Grail, a cancer-test developer, as regulators question the acquisition's impact on competition. Charles Dadswell, the company's general counsel, has taken over as interim CEO while a search for a permanent replacement is initiated. Illumina's board has undergone changes, including the appointment of new directors. The company's shares have declined since the Grail acquisition, raising concerns about antitrust battles and profitability. Illumina is appealing the antitrust rejections and preparing for potential divestment.

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Rundown
  • Meta plans to launch a stand-alone app through Instagram to compete with Twitter, according to sources. The app, internally known as Project 92, was demonstrated during an all-hands meeting with Meta employees. Chief Product Officer Chris Cox referred to it as Meta's response to Twitter, aiming to provide a platform that is "sanely run" for creators and public figures. Meta is reportedly in talks with celebrities like Oprah Winfrey and the Dalai Lama to commit to using the app. Meanwhile, Meta CEO Mark Zuckerberg criticized Apple's recently unveiled Vision Pro headset, highlighting Meta's focus on affordability and accessibility.
  • TikTok's Sonic Identity, developed by MassiveMusic, is outperforming industry benchmarks, according to research by Kantar. The global sonic logo has reinforced brand awareness and affinity, with 73% of respondents associating it with positive emotions. It boasts a recognisability rate 40% higher than average for a new sonic logo. It has been introduced in-app, allowing creators to incorporate it into their videos.
  • Code and Theory is expanding its global capabilities and leadership to compete with major consultancies. The agency aims to offer a combination of digital strategy, creative services, and technology to enhance clients' growth capabilities. Additionally, Code and Theory will integrate YML into its brand, partner with Oracle to provide AI solutions, and launch a design transformation practice.
  • Meta is introducing AI-generated stickers to its Messenger app. The stickers will be created based on text prompts provided by users. The company plans to leverage its image generation model to offer a wide range of options for self-expression and cultural representations. The feature will initially be tested internally before being made available to the public. Additionally, Meta is working on AI models that can transform images in various ways, such as changing aspect ratios or turning photos into paintings.
  • IPG has brought in former Accenture executives to introduce more creativity into commerce. Roald van Wyk, along with Jeriad Zoghby, is leading the Creative Commerce Labs initiative at IPG, aiming to incorporate creatives and brand experts into commerce development. The focus is on moving away from a purely functional and performance-driven approach to commerce and giving more importance to brand identity and consumer experience. The labs will serve as a platform for IPG's creatives to collaborate with commerce platforms like Amazon, pushing the boundaries of what is possible and building innovative commerce strategies rooted in cultural insights. The goal is to differentiate brands in the competitive e-commerce landscape and adapt to advancements in generative AI and conversational search interfaces.
  • Kate Higgins, former VP and account director at Crispin Porter + Bogusky (CP+B), has joined Portland-based independent agency Opinionated as its first chief growth officer. Opinionated, founded by Mark Fitzloff, a former executive at Wieden+Kennedy, aims to leverage the combined expertise of both agencies to drive its success. The agency aims to differentiate itself by focusing on long-term brand growth rather than short-term buzz.
  • Arthur Sadoun, CEO of Publicis Groupe, spoke at the Adobe Summit and highlighted content supply management as one of the major challenges in marketing today. He emphasized the need to effectively deliver content in the best possible manner, given the high demand for content production. Publicis has launched PX, an end-to-end content platform powered by Adobe's Content Supply Chain solution, to address this challenge. PX aims to provide marketers with a streamlined and cost-effective solution for content design, delivery, and performance optimization. The platform offers personalized dashboards, briefing tools, review and approval systems, and modular asset management. PX users will also have access to Publicis Groupe's content studios and generative AI capabilities. Sadoun emphasized the importance of data-driven personalization and simplifying the engagement process with consumers. Publicis predicts that content demand from marketers could increase 20-fold in the next two years. The company intends to use PX to centralize the creative production process and enable personalization at scale.
  • WongDoody, a digital creative agency, has undergone its first global rebrand in 30 years to showcase its emerging tech capabilities. The agency, which was acquired by Infosys in 2018, has expanded to 20 offices worldwide and has strengthened its creative team with new appointments. The rebrand includes an updated brand identity featuring an amorphous green and blue blob to represent adaptability. WongDoody also emphasizes the integration of artificial intelligence (AI) and human creativity, dubbing it "artificial imagination," where AI and human collaboration can challenge and enhance each other's ideas.
  • Actor Terry Crews has partnered with ad veterans Matt O'Rourke and Paul Sutton to launch Super Serious, an entertainment-driven agency. The agency's debut campaign is a mini-musical created for Impossible Foods, which will air during the Tony Awards. Super Serious aims to prioritize entertainment and creativity in its work, with projects extending beyond traditional advertising. The agency plans to develop unscripted series, a game show, and consumer products, while maintaining a focus on flexibility and immediacy with its small, senior team. Super Serious draws inspiration from Maximum Effort, founded by Ryan Reynolds and George Dewey, and aims to deliver entertaining content that captures audience attention.
  • Nike is seeking to rebuild its relationship with retail partners after previously prioritizing direct sales to consumers. The company is now working with retailers such as DSW parent Designer Brands and Macy's to clear out excess inventory. Nike had reduced its wholesale accounts during the pandemic to focus on direct channels and strategic partners. However, the company is now realizing the value of retail partnerships in reaching customers and providing seamless digital and physical experiences.
  • Spotify is officially testing a new feature called "Your Offline Mix," which automatically downloads a playlist of recent favorites for offline listening. The feature is designed to be useful in situations where users may not have an internet connection, such as during flights. The playlists can store multiple hours of music, providing a convenient option for those who forget to download music beforehand. Some users have already reported seeing the feature in their apps, although it is unclear which territories Spotify is rolling it out to and whether it will be available for free users. Spotify's rival, YouTube Music, already offers a similar "Offline mixtape" feature.
  • Hasbro is working on a strategy to revive its toy business by targeting both toddlers and adults over 50. The company aims to regain market share and increase revenue growth by focusing on its core toy and game business. Hasbro plans to invest in experienced industry leaders, improve operations, and enhance data analytics. The company also plans to expand its presence in five key categories: action figures, preschool toys, games, arts and crafts, and outdoor and sports items. Hasbro acknowledges the importance of physical playthings in a digital world and aims to offer innovative experiences to engage customers of all ages. The company also plans to license certain brands and expand its online platform, Hasbro Pulse. While digital games generate higher profit margins, Hasbro believes that physical toys will continue to have a robust market.
  • Chris Nee, known for shows like Doc McStuffins and Blue's Clues, revealed in an interview that their overall deal with Netflix was not renewed and expressed their belief that many streamers, including Netflix, do not understand kids' content. Nee highlighted several issues, including the lack of repeat viewing options on Netflix, the importance of brand building for children's shows, the significance of merchandising, and criticism of Netflix's marketing strategies.
  • Reddit has introduced two new ad products, Contextual Keyword Targeting and Product Ads, to assist advertisers in reaching valuable audiences and boosting conversions. Contextual Keyword Targeting allows advertisers to associate their brand with specific keywords in active conversations on Reddit, while Product Ads enable targeting of consumers who are already in the shopping process, displaying product descriptions, pricing, and call-to-action buttons. These new features aim to enhance the search-and-discover experience for both brands and users, leveraging Reddit's position as a hub for actionable conversation. Statistics indicate that Redditors make more category purchases, spend more per purchase, and are more likely to talk positively about brands that advertise on Reddit.
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Published by:

Joe Nash

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