Industry Update Story of the week
New Budget to Bring Vape Tax, HFSS Ad Ban, and Boost for Alcohol Duty.
The UK government’s latest budget includes new measures impacting brands and marketers, such as a £2.20 tax on vape liquids and a ban on HFSS ads before 9 pm and online, aimed at promoting healthier lifestyles. While taxes on National Insurance and Capital Gains will rise by £40 million, the budget also cuts alcohol duty on draught beer to support pubs and ease pressures in the hospitality sector. Amid rising costs, experts urge businesses to maintain marketing spend, especially with digital ad growth showing resilience and consumer engagement high.
Social Media Story of the week
Meta Reports Record Revenue Amid AI Investments.
Meta Platforms has announced a record revenue of $40.59 billion for Q3 2024, surpassing Wall Street expectations. This growth is largely attributed to significant investments in artificial intelligence, enhancing ad-targeting capabilities and boosting platform engagement. CEO Mark Zuckerberg highlighted a 5% increase in daily active users across Meta's apps, with the newly introduced Threads microblogging service also showing growth. Additionally, Meta expanded its Meta AI tool and unveiled new AR and mixed-reality products at the recent Meta Connect conference.
Campaign Spotlight Story of the week
John Lewis Unveils 'Give Knowingly' Ad Ahead of Black Friday.
John Lewis has launched the second instalment of its 'golden quarter' trilogy of ads, marking its largest-ever marketing investment. The 'Give Knowingly' campaign focuses on gifting, highlighting the brand's top 100 gifts for the season, including cashmere jumpers, china, and soft toys, as well as brands like Charlotte Tilbury, Ninja, Google, and Dyson. This product-focused ad aims to reinforce John Lewis's value credentials, following the resurrection of its 'Never Knowingly Undersold' price promise in September. The campaign will run across TV, digital, social media, out-of-home, and print, with the final episode set to be revealed later in November in the run-up to Christmas.
