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Another rollercoaster year for advertising, but there are signs of resilience
For the first couple of months of 2022 things looked pretty good for the advertising market. The scale of 2021’s post-pandemic bounceback delighted analysts, with the IAB trumpeting exponential growth for the year: its full-year Revenue Report showed a YOY increase of $50 billion, the biggest single-year rise since 2006.
Fears for the future started to rise late in the summer, with conventional wisdom expecting the first thing to be cut in the looming recession to be marketing budgets. There is no doubt that the advertising market is tightening, but there are signs of resilience.
Forecasters are still predicting that global ad spend will grow by as much as 8% in 2022. And TikTok is enjoying incredible growth – in April it was projecting ad revenues of $12 billion for 2022, up from $4 billion last year. Podcast advertising is also continuing to climb, so while there is definitely gloom, we might just escape the doom.
Business development team at FT bridges many departments
INMA’s Jodie Hopperton has been talking to Caitlin Clarke, business development director at the Financial Times. They discussed the “bridge” roles between commercial and product and how they can help look for opportunities where products or new businesses can be spun out from existing assets for commercial gain.
Nine key tactics for making changes stick in the newsroom
Digital media leader Emma Löfgren has been writing about how to create long-lasting change in newsrooms over on The Fix. Her list of Do’s includes winning hearts and minds, listening, communicating and having a long term plan – all good common sense that is unfortunately all too uncommon.
MSN’s AI has been publishing fake news about mermaids and bigfoot
After MSN fired its human journalists and handed aggregation decisions over to AI, the site started featuring stories about mythical creatures. MSN has deleted the hoax stories, but this piece is a scary indictment of the rush to hand jobs over to ‘flawed AI systems’.
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