7 min read

June 22 2023 - Thursday Roundup

June 22 2023 - Thursday Roundup

👋Happy Thursday everyone. Some layoffs hitting Uber, the market is reacting to the Fed's upcoming (likely) rate increase, and more Cannes mania . Let's get into it–

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Top Stories

Uber is reducing its recruiting team by 200 employees, representing 35% of the team but less than 1% of the total staff. Uber has previously made smaller rounds of layoffs, including in its freight unit and international food-delivery operations, which together with the recent cuts make up less than 3% of its workforce. Uber currently employs over 32,000 people worldwide, excluding its drivers who are not classified as employees.

Renowned television producer Ryan Murphy is expected to shift his operations from Netflix to the Walt Disney Company after the conclusion of his $300 million deal with Netflix. While contract negotiations with Disney are still ongoing, they are reportedly in advanced stages. Murphy's contract with Netflix expires soon, and talks for its renewal did not progress. Disney, which owns the FX cable channel that houses Murphy's "American Horror Story" franchise, would bring him back into collaboration with executives he has worked closely with for over a decade. Murphy's tenure at Netflix had its ups and downs, with recent hits like "Monster: The Jeffrey Dahmer Story" and "The Watcher" gaining significant viewership. Despite the move, Murphy will continue creating shows for both Disney and Netflix, including the upcoming seasons of "9-1-1" and "American Crime Story" for Disney and the next edition of "Monster" for Netflix.

Federal Reserve Chair Jerome H. Powell informed House lawmakers that the United States is still far from achieving low and stable inflation, even after 15 months of efforts by the central bank to cool the economy and curb rapid price increases. While inflation has moderated to some extent since last year, it remains high, and there is a long way to go to bring it back down to the target of 2 percent. The Fed is considering the possibility of raising interest rates higher than the current level to address the persistent inflation pressures. Powell emphasized the need to strike a delicate balance between cooling growth and avoiding excessive measures. The Fed's recent decision to keep interest rates unchanged does not indicate victory over inflation, and the central bank is prepared to raise rates further. Powell's comments prompted investors to adjust their expectations regarding future interest rate paths.

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Rundown
  • P&G Chief Brand Officer, Marc Pritchard, discussed P&G's focus on brand growth during his appearance at the Cannes Lions International Festival of Creativity. Pritchard highlighted P&G's "Creative MVPs," which included various creative partners such as agencies and studios. Last year, Pritchard and other marketers pushed for brand growth to be a significant factor in the judging criteria for Cannes Lions awards. In an interview, Pritchard addressed the potential recognition of growth in this year's judging and emphasized the importance of creativity for market growth. Regarding economic conditions, Pritchard mentioned that P&G remains focused on its strategy of superiority regardless of the environment, prioritizing product quality, value, and effective communication. He stressed the importance of staying within the brand's wheelhouse and conveying performance or benefits in an inclusive and sustainable manner.
  • Wimbledon has partnered with IBM to introduce AI-powered commentary and captions to its coverage this year. The All England Club will utilize IBM's Watson X AI platform, trained in the language of tennis, to generate audio commentary and captions for online highlights videos. This service, available on the Wimbledon app and website, will provide additional insights and analysis of singles draws, helping fans uncover potential surprises and anomalies. The AI system will process data from various sources, including ball and player tracking, to generate natural language commentary and near-real-time audio commentary. IBM sees this as a step towards generating AI commentary for full matches. The move follows the European broadcasting union's use of cloned voice technology for commentary in the European Athletics Championships.
  • Wieden+Kennedy has created a temporary storefront in Cannes called "NOT 4 $ALE," featuring intentionally garish and kitschy visuals reminiscent of pawn shops and "we buy gold" stores. The storefront serves as a meeting space and also hosts programming, including discussions on finding unique creative voices. The concept aims to stand out amidst the grand and fancy atmosphere of Cannes Lions while offering a lighthearted counterpoint to the seriousness of the industry. The design choices were deliberately kept basic and crude, staying true to the original idea.
  • Issa Rae, the actress, writer, producer, and comedian, is expanding her media and production company, Hoorae Media, by launching a brand marketing division called Fête. The announcement was made at the Cannes Lions Festival. It will provide marketing integrations and strategic guidance to brand partnerships within Hoorae Media. Fête plans to collaborate with smaller Black-owned businesses and support young Black creatives and marketers. The division will be based in Los Angeles and will work with existing partners while seeking new ones. The expansion of Hoorae Media into the advertising industry follows a trend of creators and entertainers venturing into the ad space.
  • Away, the luggage brand, has hired Carla Dunham as its Chief Marketing Officer and has been reevaluating its marketing strategy to align with post-pandemic travel trends. Dunham emphasizes the importance of storytelling and photography to create compelling experiences for customers. Away conducted an audit of its marketing channels and plans to increase its investment in TV advertising, with a particular focus on streaming platforms. Dunham highlights the company's mission of making travel accessible and welcoming for everyone. Additionally, she discusses the brand's engagement with cultural moments and the role of brick-and-mortar stores as marketing channels.
  • Discord is introducing a new monetization feature called "Downloadables," which will allow creators to sell digital products, such as ebooks, gaming guides, or digital wallpapers, through one-time purchases. These Downloadables will be available for purchase from a Server Shop. Discord is planning to test this feature in the coming months. In addition to Downloadables, Discord is enhancing its server subscriptions by adding tier templates to make it easier for creators to offer subscription options to their communities. Discord has also introduced a new type of channel called Media Channels, focused on videos, photos, and files, which will help communities better organize content. These updates aim to make Discord a more appealing platform for building communities, particularly as people seek alternative platforms due to changes on platforms like Twitter and Reddit.
  • Dropbox is introducing two AI-powered services to its platform. The first service involves summarizing and querying documents, while the second, called Dash, is a universal search engine that allows users to access their files on Dropbox as well as across the entire web. Dash aims to be a comprehensive search app for personal content. Dropbox is moving away from the traditional folder-based organization and introducing "Stacks" as a more flexible way to group and arrange files. The goal is to create a self-organizing Dropbox that streamlines search and reduces the need for manual file organization. While the concept of universal search is not new, Dropbox believes its existing user base and commitment to privacy and security give it an advantage. The AI features are currently available to Pro customers and a select few teams, with a waitlist for the Dash beta.
  • Marvel Studios is facing backlash over the use of AI in the opening credits of its latest TV series, Secret Invasion, which premiered on Disney+. The AI-generated imagery in the title sequence received criticism on social media for being "ugly," "disgusting," and "repulsive." Some users expressed disappointment that Marvel chose to use AI instead of human visual effects artists. However, it was later revealed that Method Studios was credited for creating the opening titles, and real human artists were involved in the process. Director and executive producer Ali Selim confirmed that AI was used in the design, aligning with the themes of shape-shifting in the series.
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Published by:

Joe Nash

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