Podcast Story of the Week
Group M have released latest results as part of ‘The Europe Digital Audio Advertising Report 2022’. Data reveals more than half (58%) of buyers’ digital audio advertising budget is going towards investing in podcasts. IAB Chief Economist Daniel Knapp highlighted that digital audio had outpaced all other advertising channels in the region from 2018 to 2022 in terms of compound annual growth rate.
Audio Story of the Week
Spotify is raising the price of its single-account premium plan for the first time since 2011, while the prices of other plans will also increase. UK subscriptions will raise by £1 a month to £10.99 for individual plans, £14.99 for a premium duo plan and £17.99 for a family plan. Price of a student plan remains unchanged at £5.99. The move follows other streaming services which have also increased subscription costs.
Social Media Story of the Week
TikTok has announced it will be jumping into the ring with Meta and Twitter, with the development of a text-only feature. TikTok users will now be offered three options on the app, whether to post photos, videos or text. This move comes as competition between rival social media firms such as Instagram owner Meta and X, Elon Musk’s rebrand of Twitter. The rebrand occurred this week, with the blue bird branding being replaced with a logo featuring an X. According to Musk the term tweets will also be changed to ‘X’s’.
