What are the top marketing and advertising stories of the week? We’re glad you asked. Catch up on the news you need to know with our Weekly Must Reads.
The Super Bowl Ad Lineup
While most of the world will be anxiously awaiting the outcome of the Rams vs. Patriots battle, we in the advertising business are way more interested in the commercials. This year, CBS is charging brands more than $5 million for a coveted 30-second ad during the Super Bowl. We’ll see ads from Super Bowl regulars, including Anheuser-Busch and Dorito’s, as well as newcomers, like Olay and Bumble.
Keep an eye out for celebrity appearances, too. Household names like Michael Bublé and Serena Williams will reportedly represent brands in commercials throughout the game, as will popular hip-hop artist Chance the Rapper. Which ad are you most excited to see? https://www.businessinsider.com/super-bowl-commercials-2019-list-2019-1
Gillette’s Ad Shows the Start of a Movement
As you’ve surely heard by now, men’s razor brand Gillette recently released a controversial ad on the topic of toxic masculinity. Inspired by the #MeToo movement, the two-minute video plays on its own brand tagline and asks, “is this the best a man can get?”
Gillette joins other brands, including Nike, Aerie and Dove, in taking a stand on a hot-button issue. This ad is especially noteworthy as it comes from a 120-year-old traditional company. Is this part of the future of advertising? Read on here: https://www.forbes.com/sites/nikkibaird/2019/01/25/is-gillettes-stand-a-tipping-point-for-brands/#c5f53ff1066e
A Whirlwind of Media Company Layoffs
It’s been a hectic week for major media companies, and not in a good way. Last week, companies including Buzzfeed, Gannett and Verizon’s media division all announced major cuts to their workforce. Buzzfeed is set to lay off 15% of its workforce, Verizon announced a 7% cut and Gannett let go of dozens of more workers.
Traditional media, like Gannett’s newspapers, have long struggled to keep up with the rise of digital, but even digital-native sites like Buzzfeed suffered against tech giants like Facebook and Google. Find out more about the cuts and changing media landscape here: https://www.cnn.com/2019/01/24/media/media-layoffs-buzzfeed-huffpost-gannett/index.html
Fyre Festival Documentaries Remind of the Power of Social Media
Streaming services Netflix and Hulu both recently released documentaries about the failed Fyre Festival from 2017. The Fyre Festival was supposed to be a luxury music festival in the Bahamas, but unfortunately ended in public disaster. Organizers marketed the event to wealthy millennials through famous influencers on social media, including Kendall Jenner and Bella Hadid.
Both films highlight the growing power of social media and the potential danger in blindly following what you see on Instagram. It also shows how quickly social media can take a brand down – one festival attendee tweeted a now-famous picture of a “cheese sandwich” that sparked the backlash against Fyre. Read the full story here: https://www.wired.com/story/fyre-festival-documentaries/
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