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RIP to the platform momentum narrative
There are signs that the days of never ending platform growth are over. Digiday is reporting that, based on the latest earnings reports from Google and Meta, the end is near for this ‘blockbuster chapter of growth’ in digital advertising.
Google (or maybe Alphabet) missed analyst’s forecasts, with YouTube’s ad revenue contracting for the first time since it started reporting advertising in 2019. Even Google’s search ad business, said to be recession-proof, sputtered. Meta had it even worse – net income was down more than 50% year-on-year. Staggeringly, with a 34% drop on the previous quarter of 2022, Meta would be loss making next year if the rate of decline continued.
Amazon is the only member of the Triopoly to buck the downward trend. The online shopping giant turned ad platform posted $9.5 billion in ad revenue over the last quarter, up 25% on the same period a year ago. It’s still a long way behind the other two, but at this rate, it could catch up soon.
Twitter to start charging $20 per month for verification
The best comment I saw yesterday on the Twitter’s slow-motion implosion was that the Chief Twit doesn’t know how much money he’s going to lose on his newly acquired social network. This story about Twitter employees racing to build the company’s first major new feature under Elon Musk – a $20 per month subscription to be verified – underlines that sentiment in thick red pen.
AI tools that will save publishers time and money
I had a blast writing this TL:DR for Spiny Trends and playing with all the AI tools listed. I know there are genuine fears that AI will rob human editors and journalists of their jobs, but some of these tools really could be time savers for busy staff.
2022’s podcast trends: a reality check for podcast hype, but publishers seeing solid ROI
Our sixth Media Moments episode looks at the world of podcasting, from how publishers are refocusing strategies on engaging superfans to the growing popularity of video podcasts. To discuss 2022’s biggest podcast trends we’re joined this week by Naomi Mellor, founder of The Skylark Collective.
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