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The pandemic has had a positive impact on how the public views advertising, but a lack of general understanding around what the advertising industry has responsibility for continues to affect trust in the sector. The key findings from the Advertising Association (AA) and Credos around are optimistic – but also demand the industry continue to reinvent itself.
What a week already for Facebook. Its nearly six-hour outage of Facebook, Instagram and WhatsApp on Monday cost the company an estimated $79m in lost ad dollars. The blackout came on the tails of stinging accusations by whistleblower Frances Haugen on 60 Minutes and mere weeks after a Wall Street Journal story alleged that insider documents suggest Facebook knows about the negative effects of its platforms on mental health. Today, as Haugen testifies before the US Senate, The Drum checks in with media experts about the impact of these events on ad dollars.
The UK is set to become the third-fastest-growing ad spend market for home appliances across 12 key territories, including China, Germany and the US, with projected average annual growth of 14% between 2020 and 2023.
Facebook has been accused of putting the desire for ad revenue above the need to keep its users safe, and putting “growth over safety”. These latest claims from the Facebook whistleblower behind The Wall Street Journal’s Facebook Files series were aired on CBS News’s 60 Minutes show last night, but will have repercussions for the future of brand relationships with the social network.
Google is rolling out updates to its product search pages — a move that could both improve the shopping experience and help the search engine secure more ad dollars in the ecommerce space. As Amazon’s ad revenue growth rate outpaces Google’s and ecommerce gains steam, Google sees a critical opportunity.