For many, Facebook’s new name introduced “the metaverse” as a concept. But a year out, most people have not entered the metaverse. Right now, Meta’s facelift doesn’t appear to have legs. (Quite literally—the little Horizon Worlds avatars still don’t have legs.)
On today's episode, we discuss Uber's foray into advertising, whether or not we are past "peak newsletter," how to convert online shoppers into buyers, how Apple's privacy changes have affected mobile marketers, how much media young people consume, an explanation of what's most disrupting advanced TV, how much it costs to raise a kid in the US, and more. Tune in to the discussion with our vice president of Briefings Stephanie Taglianetti and analysts Ross Benes and Evelyn Mitchell.
Consumer spending grew 0.4% in Q3: But the shift to spending on services continued as goods spending fell for the third straight quarter.
Shareholders mad at Meta over strategy: The tech giant launches AI tools to help build the metaverse. It’s a long-game strategy that irks investors with little to show after a $15B expenditure.
Warner Bros. Discovery is making its catalog even thinner: The company announced an additional $2 billion in content write-downs, so say goodbye to some of your favorite shows.
“Black Adam” revives the box office, but not by much: The new DC superhero movie opened to $67 million, less than half the most recent Marvel film’s opening weekend.
The repercussions of China’s leadership overhaul: Markets in China, Hong Kong, and New York plunge over worries that Xi Jinping’s consolidation of power could further confound investment in Big Tech.
Analyzing Meta’s business pivot: Meta could hold off on its business aspirations and improve various aspects of the current metaverse before pushing its business aspirations, at least until the economy improves.
TSMC carries the weight of the world: The chip maker could go offline if China invades Taiwan, potentially crippling the global economy. The US-China tech cold war is escalating risks.
Meta would rather block news than pay Canadian publishers: A proposed bill modeled after one in Australia would require the company to negotiate with news publishers.
Apple's streaming price hikes test their brand equity: The tech giant's audio and video services are getting more expensive; will consumers grin and bear it?
QSRs are eating up TV ad impressions: With Subway and Arby’s leading the way, the category is still pulling back—but less than other major spenders.
Disney’s Formula One extension is part of its ESPN+ gameplan: ESPN will show F1 races through 2025 in an attempt to capture more of the digital live sports market.
Ahead of Spotify reporting its third-quarter earnings this afternoon, here’s a little recap of what the platform has been up to over the past few months. Plus, our thoughts on the moves.
Among US citizens ages 18 and older, 60% feel there should be political ad spending limits for groups not affiliated with political candidates. Only 16% think their spending should remain unlimited.
No PhD? No problem for quantum computing: Q-CTRL’s Black Opal provides businesses with quantum skills without the math and ivory tower jargon. CEO Michael Biercuk told us why it’s important.
Google hits regulatory wall in India: The Competition Commission of India fined Google for what it says are anticompetitive practices and seeks to unbundle Search and Google Play from Android.
Meta agrees to sell Giphy: The UK’s CMA decision pulls Giphy away from Meta’s ownership and underscores the danger of closing a Big Tech merger without prior regulatory approval.
Roe's reversal has had a huge impact on the ad world: The Supreme Court’s decision has eroded trust in brands and kickstarted regulator crackdowns on advertising.