Hi! Welcome to the Insider Advertising daily for December 8. I’m Lauren Johnson, a senior advertising reporter at Business Insider. Subscribe here to get this newsletter in your inbox every weekday. Send me feedback or tips at [email protected].
Today’s news: Bright spots for ad agencies amid the pandemic, Kevel raises $US11 million, and the most powerful entertainment brands.
2020 was terrible for the ad industry, with nearly 50,000 agency jobs lost â€” here are 4 bright spots in an otherwise catastrophic year
- Patrick Coffee reports that 2020 was the most crushing year for the ad industry since the recession of 2008. Nearly 50,000 ad agency jobs were lost globally, according to Forrester.
- WPP’s GroupM predicts its business will improve in the second half of 2021 as online shopping explodes and hard-hit industries like travel start advertising again.
- Insiders said some digital and healthcare agencies saw growth, but the job market remains weak â€” especially for Black people and those over 50.
A digital ad firm just raised $US11 million to help brands like United Airlines and Ticketmaster build their own ad businesses
- I reported that adtech firm Kevel (formerly Adzerk) raised $US11 million in funding to chase brands that are building advertising businesses in-house.
- The firm’s software helps brands run ad formats like sponsored listings and native ads on websites and apps.
- Retailers like Walgreens, Walmart, and Instacart have recently built ad businesses to make up for thin margins in retail, but Kevel thinks there’s an opportunity for other types of brands to build out advertising businesses.
A research firm ranked the 20 most powerful entertainment brands right now based on 350,000 surveys over 2 years
- National Research Group conducted 350,000 online surveys with consumers since January 2019 to determine the top entertainment brands right now, reports Travis Clark.
- The list includes Disney Plus’ “The Mandalorian,” Netflix’s “The Witcher,” and several Marvel Cinematic Universe brands.
- NRG’s EVP of strategy, Ethan Titelman, explained that the list doesn’t necessarily rank the brands by popularity, but reflects a franchise’s “forward momentum.”
More stories we’re reading:
- Amazon and YETI sue third-party sellers, alleging they sold counterfeit tumblers, as the retail giant cracks down on fake goods (Business Insider)
- IKEA is getting rid of its iconic catalogue, one of the most popular books in the world, ending a 70-year print run(Business Insider)
- 4 companies helping retailers nail the perfect price for everything from groceries to holiday gifts (Business Insider)
- Instagram ‘micro’ influencers are helping fuel a rebound for the industry after a rocky spring and summer (Business Insider)
- Dentsu to slash 6,000 overseas jobs as Covid impact takes toll (Financial Times)
- Discovery hires Hulu sales veteran Jim Keller to lead U.S. digital ad sales (Variety)
- U.S. newsrooms are very white. So are the critics and the journalists that cover them (The Objective)
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