Creator Startups Have Already Raised As Much This Year as in 2023 by Kaya Yurieff and Akash Pasricha
New data from The Information’s Creator Economy Database shows that creator economy startups are seeing big returns. While investment levels have not returned to the high that was seen three years ago, the number of startups built around or utilizing generative AI reportedly has many investors intrigued. However, they tend to avoid overly “niche” concepts and gravitate towards ones with a strong creative brand, with the bar for quality having risen significantly since the boom. This comes alongside at least 25 creator brands shutting down since 2021. Podcasting can expect to see creators leveraging the power of branded audio content to promote these businesses and connect with potential customers.
Ad industry acquisitions are beginning to heat up by Ryan Barwick
The ad industry saw an explosion of mergers and acquisitions at the start of the summer, with a new one on average every week. After fears of a recession and a notable slow period last year, industry players are glad to see things picking up after a similarly slow Q1 to 2024. Most of these deals involve a supply-side platform, covering the ways advertisers and brands reach customers such as social media apps and streaming. Podcasting has also seen a number of moves in the space this quarter, such as This American Life returning to National Public Media for ad sales.
Publishers reflect on ad revenue midway through 2024 by Kayleigh Barber
Midway through the year, publishers are reportedly adjusting their plans for a bright 2024. According to statements to Digiday, Gallery Media Group and Apartment Therapy Media are seeing total and direct ad revenue increases respectively. Average deal size is also increasing, with strategies investing in events and branded content paying off. Ad categories that took a hit during the pandemic such as real estate, big box retail, and auto are seeing a resurgence as spending habits shift.
CNN to Launch Digital Subscriptions by End of 2024 Amid Layoffs by Brian Steinberg
CNN announced plans to launch a new digital subscription service by the end of 2024, as well as two free and ad-supported digital services. This news comes on the heels of recent layoffs at the company, including 100 newsroom positions being eliminated. Chairman and CEO Mark Thompson shared that this move was part of a plan to take CNN into the digital age, an age which has seen consumers increasingly move to social media platforms like X and TikTok for their daily news. The digital service will be offered exclusively via the CNN website and could potentially be a trial run for a larger slate of news offerings aiming to capture a wider variety of audience niches.
Advertisers Defend Brand Safety Tools As Lawmakers See Conservative Media Redlining
The advertising industry was called to the stand in a hearing on Wednesday, centered around the accusation that it is moving spending away from conservative media outlets. The Global Alliance for Responsible Media (GARM), who was the target of lawmakers in the hearing, has guidelines to help advertisers determine appropriate content for spending allocation. Republican Congressman Jim Jordan alleged that said guidelines, instead of providing ways for advertisers to ensure smart spending on brand safe avenues, specifically targets conservative and far-right media. This allegation comes despite its antitrust premise basing itself on legislation designed for M&A, rather than individual business operations. Said Unilever USA President Herris Patel at the hearing, “We have a right to choose where we want to choose our investments or where we want to advertise our brands”.
…as for the rest of the news:
- Armchair Expert host Dax Shepard has signed a $80 million deal with Wondery for exclusive distribution and ad sale rights.
- The Critical Role brand continues to diversify as it announces a new four-part miniseries starring two original CR cast members, set in the world of an audio drama acquired by the company last year.
