Industry Story of the Week
Amazon's annual report reveals they are set to become the largest advertiser in history after an increase in advertising spend of $16.9bn in 2021. This means they will officially overtake Procter & Gamble and Unilever, which used to be the world's top advertisers. What sets Amazon apart from other companies is that not only do they spend heavily on advertising, but it also provides a significant stream of revenue for the company. In 2021 Amazon made sales of $31.2bn through a combination of display, video and sponsored advertisements, a 58% increase from 2020.
OOH Story of the Week
Following the leak of misogynistic texts from WhatsApp groups within the Met Police, the Women’s Equality Party launched an appeal campaign in Central London utilising OOH. Investigation into the leaked messages found offences of racism, misogyny and harassment. In response, The Women’s Equality Party placed boards around Charing Cross masquerading as police appeals for help from the public to demand ‘an independent inquiry into misogyny and a radical overhaul.’
Radio Story of the Week
Commercial radio had its biggest ever year in 2021, generating £718.7m in revenue, beating its previous record of £713.6m in 2018. Reports from Radiocentre attribute this performance increase to a combination of factors which include: a 25% year-on-year bounceback after 2020 and a growth in adspend from travel and transport brands.
Digital Story of the Week
The rapid growth in popularity of video social network TikTok has taken over from other mobile platforms. A new report from We Are Social revealed the average Android user spent 37% more time on TikTok in 2021 than in 2020 and 6% less time on Facebook. The average time spent on TikTok was 27.3 hours per month versus 15.5 hours on Facebook. Unfortunately, the report only covers Android devices but serves as a good indication of how demand has changed across social applications.
Partnership Story of the Week
The Brit Awards and Mastercard hosted a post-show celebration on gaming platform Roblox, featuring a virtual performance from UK artist PinkPantheress. Dubit, a metaverse developer studio, designed the partnership. It took place in a virtual world inspired by London, featuring neon-lit skyscrapers and famous landmarks like the London Eye.
