The travel industry will spend nearly $6.8 billion on digital advertising this year, but it will only account for 2.6% of total US digital ad spending. Among the 10 industries we track, travel is by far the smallest, but it’s set to lead the pack in growth for the third year in a row.
Meta showcases robust Q3 growth with $34.15 billion in revenues: Facebook and Instagram parent surges, despite Threads struggling to find its footing.
“The misconception in my mind is that you can ignore [generative AI],” Vincent Yates, chief data scientist of consulting firm Credera, said at Advertising Week New York 2023.
The US economy grew at its fastest pace in almost two years in Q3: Inflation and rising interest rates haven’t quelled consumer desire to spend on goods and services as personal spending rose 4%.
The 2023 holiday shopping season’s top performers will come from the categories aligned with current growth trends. And the brands that outperform their categories will do so by delivering the products shoppers want.
UPS acquires Happy Returns to get a bigger cut of the booming returns business: After a difficult quarter, the delivery company is looking to reverse declining revenues by offering customers a broader array of services.
Amazon smashes earnings expectations on the back of faster fulfillment, advertising growth: The retailer’s emphasis on delivery speed is winning it more sales and boosting the already considerable appeal of its ad network.
LinkedIn boosts user-generated content: The platform emphasizes Collaborative Articles, badges for expertise, and enhanced reactions to redefine networking.
Digital health startups to watch: We spotlight Medicaid-concentrated Waymark and RPM company Optimize Health on the back of fresh funding.
Are you ready for Amazon Pet Clinic? Amazon is reportedly looking to launch a veterinary telehealth service. Even if an early attempt fails, we expect it will keep expanding into pet meds and other services.
Walgreens brings Hartford HealthCare into its pharmacies: The retailer turns to another health system to run its in-store health clinics. Here’s why it could be a winning strategy.
The video advertising world is only getting more fractured: The VAB and ANA ceased talks to fund cross-media measurement after the VAB cited bias toward tech platforms.
Snap posts strong Q3 earnings, marking a turning point: A difficult year for Snapchat forced severe cost-cutting and a focus on AI.
Meta’s Reality Labs reported a $3.74 billion operating loss and dwindling VR engagement, complicating the company’s AI pivot while competition and regulatory scrutiny intensify.
AI deepfakes can undermine authentic content: A surge in generative AI-powered deepfakes can erode trust in authentic content and risk global elections. Tech and government mitigation are needed.
Peacock adds subscribers in Q3, but losses continue; Streaming challenges on display as Paramount shakes up tech and product units.
On today's podcast episode, we discuss how Netflix's ad business is coming along; the streaming giant's first live sports broadcast; and its new retail, dining, and live experience destinations. Tune in to the discussion with our analyst Daniel Konstantinovic.
Toy sales may be modest over the holidays: Hasbro slashed its outlook less than a day after Mattel maintained its guidance even after the blockbuster success of the Barbie movie.
OpenAI’s business model under siege: Many customers are opting for bundled Microsoft offerings and switching to cheaper open-source alternatives, hurting OpenAI’s direct sales and profitability.
Digital ad spend by the US travel industry will grow by 14.3% this year for a total of $6.79 billion, according to our forecast.