Social media story of the week
Meta is introducing a subscription option model as a new way for users to help support their favourite content creators. Their incentive for subscribing will be advertised as exclusive content; perks such as 'subscriber chats', allowing up to 30 people to join a private chat with a creator. Creators will also have the option to record subscriber-only Reels that will live in a new subscriber tab on Instagram. With influencer campaigns reaching an all-time high, this update is set to open a lot of new doors for creators.
Industry story of the week
Brand loyalty is wavering amongst consumers as more and more people are open to trying new products on the market. Over a quarter of consumers additionally state that they've stopped buying from specific businesses or brands within the last year. Data from PwC indicates Gen Z and Millenials are the most likely to float around with their loyalty to brand purchases. Inconsistency seems to be a turn-off also, with a third of respondents saying they would drop a company if it offered inconsistent experiences.
Business story of the week
Desperados' new campaign targets Gen Z and Millennials with 'House Party' themed creative. The ad, 'Pour Some Unusual On Your Usual' features an annoyed neighbour making a complaint at a House Party, she quickly changes her mind, joining in and asking the partygoers to turn the music up. The idea was conceived after Heineken discovered that 46% of Gen Z and Millennials are drinking less alcohol in general and 26% would like to see a greater choice of lighter-style beer.
Radio story of the week
Radiocentre received a report from the House of Lords Communications and Digital Committee discussing the future of BBC funding. The recent report underlines the need for the BBC to establish their future role in radio more prominently, they implied importance towards setting out options for future funding models that go beyond the existing licence fee system. It was also acknowledged by the committee that any model based on subscription or advertising would have damaging effects other TV and Radio ad-funded broadcasters.
DOOH story of the week
New Look have used programmatic DOOH to boost in-store visits by up to 73%. Through a partnership with Hivestack, their campaigns have aimed to precisely target audiences to receive measurable insights. With outcomes exceeding their expectations for the campaign, they reached more than double the number of consumers initially planned, resulting in a huge 63% increase in retailer footfall across 95 key locations.