Interviews, insight & analysis on digital media & marketing

What you need to read today: TikTok drives fashion sales, US tech investors eye Europe and more

New Digital Age highlights some of the best stories you should read across the media, marketing and advertising press.

PA BELLWETHER

Performance Marketing World – 21.10IPA Bellwether report: 20 performance marketer’s views for 2022This week’s IPA Bellwether report confirmed that marketing budgets are soaring post lockdown, propelled by online video. Amid this renewed optimism, the PMW team assembled 20 leaders…

SNAPCHAT

City A.M., 22.10All eyes on Snap after shock terrible Thursday wiped 24 off share priceSnap shares fall 24% yesterday in after-hours trade as the social media group posted its outlook for Q4, citing Apple’s new privacy policies as a major challenge.

21.10 CNBC Snap plummets 22% after missing on revenue expectations

Snap stock fell 22% after reporting its third-quarter earnings on Thursday. The company’s revenue missed Wall Street expectations after its advertising business was disrupted by privacy changes Apple introduced earlier this year.

ECOMMERCE

Performance Marketing World, 21.10The influencer generation: 10 percent of fashion shoppers start journey on TikTokWith physical retail shopping limited during 2020, social and mobile shopping gained in popularity. New research shows that TikTok is driving purchases.

CONSUMER CONFIDENCE

The Times, 22.10Fall in retail sales suggests faltering economic recoveryRetail sales fell unexpectedly last month in another sign that Britain’s economic recovery is slowing, official figures show.

Financial Times 22.10 

British retail sales unexpectedly decline in September

A drop of 0.2 per cent from August misses forecasts for a 0.5 per cent expansionMarketing Week, 22.10Consumer confidence ‘derailed’ amid petrol and energy crisesWith Christmas only two months away, confidence in personal finances, the wider economy and major purchase intention have all taken a “worrying” slip.

ADVERTISING 

Mediatel 22.10 Newsworks effectiveness study: Brands get 10% profit boost from newsbrand spend

Advertisers have seen a 10% profit increase due to advertising in newsbrands over the last three years, new research from Omnicom and trade body Newsworks has found.

ECONOMY 

Financial Times 22.10 

UK consumer and manufacturing sentiment takes ‘turn for the worse’

The UK’s economic rebound has hit strong headwinds in October with consumer confidence dropping to the lowest level since the last lockdown and a near-record share of manufacturers reporting material and labour shortages.
TechAdExchanger, 22.10Disney Intros Its Own Clean Room; VideoAmp Cleans Up With $275M RoundThe Disney Advertising Sales group just launched its own data clean room, with assists from the first-party data service providers Snowflake, Habu and InfoSum. 

FacebookThe Telegraph, 21.10Facebook hid rules that led to Trump ban, says its ‘supreme court’Facebook concealed a system which apparently allowed posts by prominent politicians and celebrities to break its rules

GamingAdWeek, 21.10Facebook Gaming Expands Cloud Library to More Than 45 GamesFacebook Gaming announced an expansion of its cloud gaming catalog, which allows users to play free-to-play games through Facebook without installing the games to their devices.

BUSINESS

21.10 CNBC Facebook, Twitter and digital ad stocks drop sharply after Snap earnings

Shares of Facebook and Twitter and other social media and digital advertising companies are sharply down in after-hours trading, after Snap reported it missed revenue expectations in the third quarter as Apple’s iPhone privacy changes disrupted its advertising business.

21.10 CNBC Big-name U.S. tech investors are moving in on Europe in increasing numbers

A growing number of renowned U.S. tech investors are moving to Europe to capitalize on the continent’s start-ups.

It comes after several European tech companies saw their valuations sky-rocket during the coronavirus pandemic. Online events platform Hopin saw its valuation soar to $7.75 billion within two years of its incorporation, while buy-now-pay-later firm Klarna was most recently valued at $46 billion.

DIVERSITY & INCLUSION

22.10 Business Insider Ex-employees slam Apple with lawsuits claiming age and gender discrimination amid an unprecedented wave of worker activism within the company

A former Apple employee is suing the company alleging gender discrimination and retaliation, adding legal trouble as more employees push back publicly against a culture of secrecy around workplace issues.

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