This summer, major brands and media giants are updating their strategies to better meet the needs of their audiences – and boost their profits. Read up on the latest marketing news you may have missed in our must read articles of the week.

X Hopes to Win Back Advertisers

Last year, Elon Musk made headlines and enemies when he publicly lashed out at advertisers who were threatening to leave the newly named X social media site. Many of those advertisers, including Disney and Apple, did ultimately pull all their ads from the platform after their ads appeared alongside controversial content.

Now, a year later, Musk is walking back his comments, pinning his outburst on “respect to freedom of speech.” During Cannes Lions last week, Musk did a live interview with WPP CEO Mark Read and relented his stance on ad placements, agreeing that brands should be able to choose the kind of content their ads appear next to. Musk also met with several other brands and ad groups to discuss the future of advertising on X. Will Musk’s new approach be enough to win back brands – and more importantly, their advertising dollars – or will the boycott continue? Read more about X’s re-entry to advertising here: https://www.cnn.com/2024/06/20/media/elon-musk-advertisers-cannes-lions/index.html

How Target Changed Its Strategy for Pride

During Pride Month 2023, Target heavily promoted their extensive line of Pride-themed merchandise and was quickly met with backlash from liberal and conservative consumers alike. Target and other brands touting Pride collections were accused of “rainbow-washing,”  or using the LGBT cause to earn profits without meaningfully providing support. In addition, the retailer alienated other consumers who oppose some LGBT issues.

This year, Target is attempting to find a middle ground. They launched a scaled-back collection at the start of June, with in-store displays focused in stores that have historically seen strong sales for Pride collections, which make up about 50 percent of Target’s location. The collection is also available online for all consumers. Some LGBT advocates called Target’s changes “disappointing,” while the managing director of retail for analytics firm GlobalData called it a “sensible approach.” Lear more about Target’s strategy here: https://www.forbes.com/sites/pamdanziger/2024/05/16/how-target-found-middle-ground-for-pride-month-2024-and-others-can-do-the-same/

Netflix Diversifies with New In-Person Experiences

Move aside, Disney and Universal – a new media network is making the jump into in-person entertainment. Netflix recently announced plans to develop two in-person entertainment venues, dubbed “Netflix House,” with expected openings dates in 2025. According to the streaming giant, Netflix House will include immersive experiences themed to their most popular shows, restaurants, and relevant products for consumers to purchase. The venues will take over former department store spaces in shopping centers near Philadelphia and Dallas, where Netflix can count on built-in foot traffic to create more visits.

Netflix’s CMO noted that the experiences in Netflix House will be updated regularly based on new releases and consumer demand. Netflix and other streamers have previously seen success with pop-up events to support the premieres for new content, but Netflix House marks the first permanent in-person experience for a streaming-first platform. Find out more about Netflix’s newest venture here: https://www.fastcompany.com/91143686/netflix-house-disney-world-streaming-wars-experiences

Dunkin’ Hires an Intern Class

After months of promotions featuring famous Dunkin’ fan Ben Affleck, the brand is moving in a new direction for their celebrity-led ad lineup. Dunkin’ launched their summer campaign last week, and the first spot features an “intern class” of celebrities and creators, led by actor Will Arnett and influencer Corporate Natalie. The “Dunkin’Terns” come from a range of industries, including music, food, and fashion, and will promote several Dunkin’ products with traditional ads, as well as special interactive “projects,” such as a Dunkin’ EP and a capsule collection.

While Affleck and frequent co-star Matt Damon don’t appear in the new ads, the campaign was created in collaboration with Artists Equity, the duo’s production company. The campaign hopes to reach consumers interested in a wide variety of topics, while also primarily supporting iced beverage sales during the warm summer months. Watch the first ad featuring the Dunkin’Terns here: https://www.marketingdive.com/news/dunkin-content-creator-culture-intern-summer-campaign/719083/