Reverberate: Media and marketing news you need to know today – Weak dollar hits Nike, P&G lowers ad spend & Twitch praises Amazon
Morning all, here’s a glimpse at all the media and marketing news you should know today.
1. Nike reported a seven per cent year-over-year rise in revenue this quarter failing to hit analyst projections, according to Forbes. It stated that foreign exchange rates crashed revenue down from a 13 per cent surge.
2. AdAge reports that US ad spend rose only 0.7 per cent in 2014. The nation recorded its fifth consecutive year of advertising growth in a year which encapsulated soccer tournament, the Brazil Fifa World Cup.
3. Upworthy cofounder Peter Koechley has apologized for his part in unleashing ‘clickbait’ upon the world. Business Insider reports Koechley said "We sort of unleashed a monster. Sorry for that…”
4. Remaining on soccer, Mondelez has become the ‘Official Snacks Brand’ of Major League Soccer, according to Mediapost. The two-year deal will see the brand focus on retail activation and shopper marketing as well as consumer promotions, all supplemented by social media activity.
5. Twitch chief executive Emmett Shear has been positive about Amazon’s $970m takeover of the company, notes Business Insider. He said Amazon’s video game retail credentials and Twitch’s gaming community were a match made in heaven.
6. The White House has enlisted David Recordon, Facebook engineering director, to become the government’s first ever director of information technology. Fast Company reports that the role will task Recordon with updating and securing government tech.
7. Forbes reports that the FAA has eased up on its drone testing regulations – to an extent. As a result Amazon has been granted the right to test its air-delivery drones in the US, although pilots must have a flying licence.
8. The Federal Trade Commission (FTC) in 2012 accused Google of causing ‘real harm to consumers and to innovation’ by using anticompetitive tactics to abuse its market dominance, according to documents acquired by the Wall Street Journal. As a result, the watchdog wanted to sue the search giant.
9. Emission-free car firm Tesla is primed to include smart trip planning and automatic steering in its latest software update. Engadget reports that company chief executive Elon Musk ordered the changes to "end range anxiety" in potential customers concerned about a lack of charging stations in their area.
10. P&G’s ad spending was slashed by 14 per cent in 2014, notes the Wall Street Journal. The firm, which is a top US advertiser, spent $15.34bn on traditional media and online.
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