Check out the latest Knowledge posts from AGM Leaders! Last week we dove into Meta's new platform, Threads, and explored how it impacts all facets of marketing.

How Threads Impacts Your Overall Marketing Strategy

by Alyssa Caridi, Director, Strategy & Innovation

Unraveling Threads: Metrics and Measurement

by Ardalan Salam, VP, Data & Technology

Threads - Preparing for Paid

by Kerri-ann McGinty, EVP, Media

Thread Carefully: Nurture Your Brand on Meta's New Social Network

by Shai Goller, SVP, Creative

Introducing Brands on Threads: Making a Unique Impression

by Danyelle McGill, SVP, Social Media & Influencer Marketing

_Agency_ updates

  • We’re thrilled to announce that Los Angeles Tourism & Convention Board (LA Tourism) has appointed AGM as its agency of record for global paid media planning and buying. LA Tourism is the non-profit destination marketing and sales organization for the Los Angeles tourism industry and the ultimate resource for where to stay and play in the LA area. In addition to paid media, we’ll provide strategy, SEO and influencer marketing support for LA Tourism. Read more about this exciting collaboration here.

TL;DR

In a hurry? Here's our pick of the top news items of the week.

  • Just weeks after removing the plan in Canada, Netflix has removed its $9.99 ad-free “Basic” plan in the US and UK. (THR)

  • Snapchat will overtake TikTok as the fastest-growing social platform by users in 2023 with 13.4% YoY growth. (Insider)

  • CNN overtook New York Times as the biggest news website in the US, regaining its historical top spot. (Press Gazette)

  • Apple has developed its own AI model, Ajax, and used it to create a chatbot some insiders call “Apple GPT." (Bloomberg)

  • American Heartland announced a $2B theme park and resort development in northeast Oklahoma that's expected to attract more than 4.9M guests per year. (Business Wire)

Audiences

  • As of Q1 2023, millennials worldwide spend 2h30m on social media daily - 39 minutes more than broadcast TV, the next highest media channel. (GWI)

  • 19% of Disney+ users and 11% of Netflix users are on ad-supported plans in the US, and 85% of those subscribers were not previously subscribed. (Media Post)

  • 27% of millennials in APAC and LATAM use social media to watch livestreams, and 44% of millennial TikTokers in APAC say they’ve watched a livestream on the app in the last month. (GWI)

  • About half of US adults planning to see "Barbie" or "Oppenheimer" consider themselves movie enthusiasts or movie buffs. (YouGov)

Platforms

  • Elon Musk said Twitter's cash flow remains negative because of a nearly 50% drop in advertising revenue and a heavy debt load. (Reuters)

  • Crunchyroll is setting its sights on India as a major growth market, helping its owner, Sony, boost global revenue. (Bloomberg)

  • Not even a month after its launch, Threads has one-fifth the weekly active user base of Twitter. (Tech Crunch)

  • New Peacock users will have to pay $5.99/mo for a premium subscription (up from $4.99) and $11.99/mo for its premium plus tier (up from $9.99). (CNN)

  • Six months into 2023, there are 5% more linear US household TV advertising impressions, yet national TV advertising spend has dropped 7.4%. (Media Post)

  • TNT Sports went live across the UK and Ireland, replacing BT Sport, and will live under Discovery+ in the UK. (Variety)

  • Facebook announced new video-related features ranging from editing to discovery to make the platform competitive with YouTube and TikTok. (Tech Crunch)

  • Amid rising issues with data scraping, Instagram announced tighter rate limits on Threads to combat spam attacks. (Social Media Today)

  • Threads released several new features including a translation button and a tab on users’ activity feeds dedicated to showing who’s followed them. (CNN)

  • Netflix added 5.9M new subscribers in Q2 and is seeing a low cancellation reaction amidst password crackdowns. (Adweek)

  • Google is raising the price of YouTube Premium by $2 to $13.99/mo for new and current subscribers. (9to5Google)

  • Elon Musk rolled out a new X logo on Twitter, replacing its signature blue bird. (WSJ)

Content

  • Sony signed a 10-year deal with Microsoft to keep the Call of Duty series available on PlayStation. (CNBC)

  • Amazon is launching a Shark Tank-like reality show in India, which could help shape the company’s image in its top international market. (Bloomberg)

  • Netflix is sticking to "sports-adjacent" streaming instead of live sports, for now, soon offering a variety of that type of programming. (The Verge)

  • Paul McCartney will reveal the stories behind some of his best-known songs on a new podcast, McCartney: A Life in Lyrics. (Rolling Stone)

  • EA Sports FC 24 will arrive September 29th on PS5, PS4, Xbox Series X/S, Xbox One, Nintendo Switch and PC. (Yahoo)

  • TikTok announced a new music licensing agreement with Warner Music allowing the app access to Warner’s full music library. (Social Media Today)

_Tech_ _&_ AI

  • Meta plans to provide the code behind its latest and most advanced AI technology to developers and software enthusiasts free of charge. (NYT)

  • OpenAI is committing $5M to the American Journalism Project under a partnership that will look for ways to support local news through AI. (Reuters)

  • Google is testing a tool that uses AI to write news stories and has started pitching it to publications. (Tech Crunch)

  • K-pop's biggest music label, HYBE, is aiming to lift language barriers by using AI to create tracks in Korean, English, Spanish, Chinese, Japanese and Vietnamese. (Reuters)

  • Meta’s development of AR glasses could be delayed due to challenges in integrating more advanced microLED technology. (Social Media Today)

  • University of Michigan Law School has explicitly banned the use of ChatGPT and other forms of AI tools on applications and now requires applicants to certify that they haven’t used those tools in the drafting process. (Reuters)

Location-based _entertainment_

  • Expedia is launching a loyalty program called One Key across three of its flagship brands amid increasing competition from Google and Booking. (Bloomberg)

  • Marriott and MGM announced an exclusive long-term strategic licensing agreement and the creation of MGM Collection with Marriott Bonvoy, which will launch in October. (Marriott)

  • Tickets for Lionel Messi's first US match for Inter Miami in the Leagues Cup were in high demand, selling for as much $110K. (CNN)

  • IMAX will bring its China unit and its 770 branded commercial locations under its 100% control by acquiring the 28.5% stake it does not already own. (THR)

  • “Barbie” claimed the top spot at the North American box office with $155M in ticket sales and became the biggest opening of the year. “Oppenheimer” soared past expectations, taking in $80.5M in the US and Canada. (AP)

  • UK and Ireland box office collection for June was £90.3M, 28% lower than June of 2022, and the highest grossing film was “Spider-Man: Across The Spider-Verse” with £26.7M. (Variety)

  • Expedia ended its supplier relationship with Hopper over a variety of practices that Expedia believes are anti-consumer. (Yahoo)

  • AMC Theatres is scrapping its plan to charge moviegoers more money for a better view of the screen with its "Sightline at AMC" initiative. (Variety)

  • Dreamworks Animation is getting its own themed land at Universal Studios Orlando in 2024. (THR)

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