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AI & Ultra-personalization

by Alyssa Caridi, Director, Strategy & Innovation

TL;DR

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

  • Google will now let users in Europe select which services share their data in response to the EU’s Digital Markets Act (DMA). (The Verge)

  • OpenAI launched its GPT app store, which lets users find GPTs from “verified builders” through a searchable interface. (Media Post)

  • Prime Video Channels is now offering ad-supported versions of Paramount+, Max and AMC+. (Streamable)

  • Google laid off hundreds of employees in several areas of the business to cut costs and put resources towards AI. (WSJ)

Audiences

  • Nearly two-thirds of US consumers who subscribe to a streaming service would choose an ad-supported version if it saved them $4-$5 per month. (TV Technology)

  • While 44% of higher-income earners say travel has become more important since the pandemic, 54% of higher-income earners aged 18-34 say it has. (YouGov)

  • US streaming video churn rose to 6.3% in November, up from 5.1% a year earlier, and about 25% of US subscribers cancelled at least 3 streaming services over the past two years. (New York Post)

Platforms

  • Audacy, owner of some of the most high-profile radio stations in the US, filed for Chapter 11 bankruptcy. (THR)

  • Advertisers now have the option to only target X Premium subscribers with their campaigns. (Social Media Today)

  • All Meta users will soon have access to the new Link History archive, letting them find links that they've interacted with previously. (Social Media Today)

  • Amazon is laying off hundreds of staff from its Prime Video and MGM Studios divisions as it prioritizes its investments for long term success. (The Wrap)

  • TikTok parent ByteDance is shutting down its premium music streaming service, Resso, in India on January 31st. (Music Business Worldwide)

Content

  • The 2024 Golden Globes Awards hit 9.4M viewers, up 50% from last year's show - which was held on a Tuesday instead of a Sunday. (The Wrap)

  • Apple Music Classical will soon be available in a number of East Asian markets, including China, Japan and South Korea. (Music Business Worldwide)

  • There were 14.5K games released on Steam in 2023, beating the previous record set in 2022 by just under 2K titles. (Games Radar)

  • YouTube rolled out a new feature to help creators reformat long-form content into Shorts. (Social Media Today)

Tech & AI

  • Marking the company's biggest launch since the original iPhone, Apple's Vision Pro headset will go on sale in US starting February 2nd and will cost $3,499. (Reuters)

  • NBCUniversal announced the launch of an AI-driven, cross-platform media planning and activation solution called One Platform Total Audience. (Marketing Dive)

  • SAG-AFTRA signed a deal with Replica that will allow the studio to engage union members under a fair, ethical agreement to create and license a digital replica of their voices. (The Wrap)

  • The US Securities and Exchange Commission approved the first US-listed exchange traded funds (ETFs) to track bitcoin, offering investors exposure to the currency without directly holding it. (Reuters)

  • Walmart will bring immersive shopping to metaverse experiences thanks to a new partnership with Unity. (Digital Commerce 360)

Location-based entertainment

  • Prince's “Purple Rain" is being adapted into a stage musical featuring some of his best-loved songs. (NYT)

  • Box office grosses are expected to drop to around $8B from 2023 to 2024 because of a strike-fueled decrease in wide releases. (The Wrap)

  • For the third year in a row, the NBA hosted a stand-alone match in Paris, France. (AdWeek)

  • At $1.06B, IMAX’s 2023 global box office got very close to its highest grossing year ever, and $227.1M of that revenue was from local language films across Asia. (THR)

  • Broadway show attendance is still down 17% from before the pandemic while costs to run a show remain high. (Economist)

Travel & hospitality

  • The Mexican Caribbean is the top tourist destination in LATAM, with over 33M air passengers and 6M cruise visitors in 2023. (Business Wire)

  • China will ease some visa requirements to make it easier for foreigners to travel there for business, education and tourism. (Bloomberg)

  • The US travel industry reached 84% of 2019 visitation levels by the end of 2023, ranking second to last among 18 global destinations. (Bloomberg)

  • San Diego leads the US market with the highest YoY growth in group travel, with San Francisco ranking second. (Hotel Dive)

  • The top reason adults worldwide want to travel in 2024 is to rest and recharge, with over half of every generation saying so. (Hilton)

Mental health

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