Month: September 2021

Rich Stern, CEO of TuneIn, a digital audio platform with 74 million listeners using content from traditional radio broadcasters like iHeart Radio as well as content from the NFL and CNN, said he believes “we’re in the golden age of audio.”

And Tony Mennuto, president of Wordsworth + Booth, the audio creative division of Horizon Media, agrees with the notion that audio is having its moment. “Look at TikTok, it would be nothing without audio, given how much music is driving its use.”

Updates to the medium have been long overdue, which contributed to radio’s overall stagnation from a revenue standpoint. “We’re trying to reinvent radio for a digital world,” Stern said. “We’re not changing the medium of radio, because people love it. We’re changing the distribution and monetization — and bringing it in line with the real scale of global digital from a platform perspective. This has been the missing piece for the industry for a long time.”  

Specifically, podcasting offers the most significant momentum among the newer players. One of its appeals is the embedded nature of the advertising, most often read by hosts (although that’s also a limitation, but more on that later). What it’s missing is some of the back-office elements that make it more measurable and usable among buyers and planners, along with a lack of scale. That’s where companies like Backtracks come in. 

“If you heard an ad about tennis racket technology in a podcast about tennis, it’s not out of place — it’s probably of interest to the listener,” said Jonathan Gill, CEO of Backtracks, a tech platform for podcasting advertising and analytics that recently got certified by the IAB Tech Lab. “It’s contextually relevant.” Gill said he’s heard of podcasts that tried removing all advertising, but were forced to put them back in after listener complaints about their absence. 

“With the introduction of time shifting of audio, specifically on the ad side, when an advertiser can go from a more survey-based methodology of counting that’s not as accurate, to something that’s both more accurate and precise, they get the trifecta of better data, cheaper ad spend and more capabilities of targeting,” Gill said. 

As hot as they are, podcasts need to advance how to offer new ad possibilities, beyond hosts reading marketing messages, which isn’t easily scalable. “Treat advertiser-provided and host-read ads more uniformly, where an advertiser can choose what’s best for them, and it’s easier for the publisher to approve and set up,” Gill added. 

Meanwhile, terrestrial radio is doing all it can to become more digital-first. But that part of the industry finds itself caught between its shrinking traditional base (which is heavily reliant on local advertising) and its transition to digital add-ons like mobile apps.

“If you look at what’s happening in audio right now, it’s a bit of a tale of two cities,” said TuneIn’s Stern. “Think about podcasting, which has a lot of listening and engagement, but has a very nascent monetary infrastructure for advertisers. That’s versus radio, which really understands the frequency and reach of carrying those messages, but struggles to aggregate enough listening on their platforms.”   

“If you talk to a media buyer, they’ll tell you they’re still figuring it out,” he added. “There’s still some catching up to do. The people that were buying traditional radio are not the same buyers looking for digital audio.”

Planners and marketers “still think of audio as an after-thought of sorts behind TV and [other] digital [options],” said W+B’s Mennuto. “One of the biggest problems is they don’t know how to use the medium. Many just repurpose TV content, while others don’t use the time wisely. But if you do it right, you can connect on such a deep emotional level. And remember, radio still reaches more than 90 percent of the country — and that’s mostly millennials.” 

Color by numbers

If there were any doubts that legalized sports betting has practically taken over live sports on television, AdImpact has erased them. The ad tracking SaaS platform analyzed week one of the NFL season and found that sports betting ads appeared 6,500 times across the various telecasts—with FanDuel alone appearing 1,500 times.

The single largest ad category that was advertised in week one was fast food, which ran 14,000 ads. And the single advertiser with the most ad appearances was insurance firm Geico, at just under 4,000.

Takeoff & landing

• Omnicom consolidated its control over Mercedes Benz’s media, creative and performance-marketing duties last week, forming a new unit called TeamX to handle all that work. Publicis lost its digital duties in the consolidation. Omnicom tapped two German agencies, digital shops Antoni and PR agency OSK, to help serve the German carmaker. 
• Havas Media Group Canada hired Peter Papageorgiou as vp of digital solutions & performance, coming from CIBC as head of audience; and Elizabeth Lem as vp and managing director/head of MX Development, who was most recently managing director at GroupM’s m/SIX. Both will report to new Canada CEO Noah Vardon.
• Comcast’s Freewheel unit, which houses its Strata platform and serves as a backbone to all of Comcast’s streaming efforts, partnered with connected TV agency Strategus to incorporate the latter’s CTV inventory into Strata’s offering. 

Direct quote

“New York used to be able to sell itself as being the center of everyone. Writers, storytellers, photographers, all would come here to be ‘in the mix. But the mix is now online, with less in-person events or coffees … New York needs to sell the ability to connect with a diverse talent pool, critical for these industries to continue to grow. That is what makes New York unique and powerful.”

— Steven Rosenbaum, executive director of the New York Media Lab, about the city’s ability to maintain its status as a global media and tech hub.

Speed reading

• Digiday senior news editor Seb Joseph assembled a handy and definitive guide to what’s happening in privacy, arguably the most important issue in advertising and media today — even if many companies spend as much effort avoiding the hot topic. 
• Digiday’s senior editor of research and features Max Willens dissects Facebook’s proposed solution to marketers for its measurement issues: just spend more money with us seems to be the crux.  
• Variety wrote about Nielsen’s decision to transition from delivering TV ratings to impressions for local TV starting January 2022, perhaps in a bid to distract from its recent de-accreditation by the Media Rating Council.

The change has made some retirement-age workers put off hanging up their gloves.

An Office of National Statistics U.K. survey in June/July 2020 found that 11% of people older than 50 who were working entirely from home planned to retire later than they previously intended, compared with 5% of those who still had to go into the office throughout the pandemic. The ONS also found that one-third of workers aged between 50 and 69 who worked from home in April and May 2021 reported higher well-being, a better work-life balance, fewer distractions and faster work completion times as a result.

It is a similar picture in the U.S. In January, Bloomberg reported that the pandemic is extending the trend of older Americans working for longer, with many citing the ability to ditch their long commutes as the motivator. Roughly one in five adults aged 65 and older remain in work, according to the Bureau of Labor Statistics, compared to closer to one in 10 in the 1980s.

“Giving people more control over their time is the essence of work from home decisions,” said Peter Cappelli, professor of management and director of the Center for Human Resources at the Wharton School, University of Pennsylvania. “Trying to get more of that is why many people retire. But most want to keep working in some way.”

Enforced working from home has opened many people’s eyes to the potential for flexible working, and for many older people it has offered them a way to continue working longer. “There are some people who stop work because their health makes it difficult for them to commute and deal with the office environment,” said Sarah Coles, personal finance analyst at U.K. investment service, Hargreaves Lansdown. “Meanwhile, others just decide they don’t want to spend a big chunk of every day on the train anymore. Working from home gives them the opportunity to continue working without having to worry about any of this.”

Staying in work for longer can have multiple benefits beyond income, giving people a sense of meaning and purpose and providing social connections. Louise Ansari, director of communications, influence and evidence at U.K. charitable foundation, Centre for Ageing Better said “Our research has found that older workers particularly appreciate work that is sociable, intellectually stimulating and flexible — and that being in fulfilling work can promote self-esteem and confidence, especially when employers are age-inclusive.”

Flexible working also enables a smoother transition from working full-time to retirement, allowing people to adapt to the change rather than falling off a metaphorical cliff edge. Andy Briggs, group CEO at savings and retirement firm Phoenix Group and U.K. government business champion for older workers said “The pandemic has shown us that a much more flexible approach to working enables older workers to remain in the labor market for longer. It’s important that a framework is now established to allow employees the right to both hybrid and flexible working.”

Deferring retirement is an important financial consideration for individuals too. “[It] offers people the opportunity to save for retirement for longer, which can be a lifeline for those who haven’t had the opportunity to put enough aside during their working life,” said Coles. 

Briggs said the cost to an average male earner who retires at 55 years old instead of 65 could be approximately £280,000 ($382,000) in lost employment income and a reduction of a private pension pot by a huge 55%.

Deferred retirement also assists the employer as businesses can continue to benefit from the critical skills and knowledge experienced workers bring. “The simple fact is that over 50’s comprises 30% of the U.K. working age population and are the fastest growing cohort,” said Briggs. “If employers want access to the biggest possible talent pool, and I don’t know any business leader who doesn’t, recruiting and retaining over 50’s is good business sense.”

But companies must be more flexible to retain skilled, older employees. Mike Middleton, founder of retirement planning specialists, Pro-Vision Lifestyles, which has offices in the U.K. and U.S., said, “Many, perhaps most, employers are totally inflexible and would apparently rather lose talented people than accommodate seemingly reasonable requests to be able to work part-time. Sadly, most employees know this, and many will fear raising with their manager their desire to work part-time from home for fear of being sidelined.”

But employees must also keep their eyes on the ball. “Those who decide to defer their retirement because of the option to work from home should ensure that they continue to keep their skills up to date,” said Briggs. “[Hybrid and flexible work] is here to stay and employees and employers should work together to explore the possibilities it presents.”

3 Questions with John Crowley and Hannah Storm, co-founders of Headlines Network

Together you have launched a series of workshops dedicated to supporting journalists’ mental health. Why is that so critical now?   

Storm: Unfortunately, the culture of journalism – which seems to rail against admissions of vulnerability – means that conversations about mental health and well-being have been rare. Many journalists suffer in silence, for fear of the repercussions on their reputations and careers if they admit they are struggling, especially those who are marginalized by our white, cis-male dominated, university educated industry. These workshops offer an opportunity for journalists to connect with peers across the U.K. media to share and develop good mental health practices in a supportive space.

Crowley: Journalists are exposed to stress from failing business models, online harassment, job insecurity, macho news environments, vicarious trauma, representation and the pressure to be constantly connected. The pandemic brought these issues to a head. We felt tired and demoralized by the long hours covering Covid-19. While journalists were in the frontline disseminating information, talking to people and holding institutions and governments to account, who was checking in on us?  

How do newsrooms cultures need to evolve to support this? 

Storm: We’d love to see newsrooms prioritize conversations around well-being, making it clear from the most senior levels that they do so, and that people are supported to share their experiences without fear of repercussions. We’d like to see newsrooms making visible their policies on health and wellbeing, and managers leading by example.

Crowley: We are obsessed about digital transformation and business models, but we don’t talk about newsroom cultures. The pandemic is first and foremost a health crisis, but it has also afforded us the opportunity to take a step back and assess how we live, play and work. The ‘ability’ to soak up pressure is seen as an integral part of a journalist’s DNA. But few feel able to admit they are struggling. When they do, there isn’t a strategy or playbook to help them. By and large, those who have issues with burnout or mental health become a “human-resources problem.”

What practical steps should newsroom leaders take to make this happen?

Storm: They should adopt healthier work practices, including more effective communication, establishing stronger boundaries, recognizing how their behaviours impact others. Mental health is often shrouded in shame. We know from our experiences of speaking about our lived experiences, people feel less isolated and we would like to see more people feel able to share their stories too.  

Crowley: Distributed working has brought to the fore soft skills such as empathy, collaboration and deep listening. We want this to be the moment in which the news industry finally focuses on staff well-being.

By the numbers

45% of 38,000 employees from 21 countries surveyed over a year, say the number of individuals they regularly interact with at work has decreased significantly over the past year, and 1 in 3 feel disconnected from their leader. 
[Source of data: O.C. Tanner’s 2022 Global Culture report.]

Nike has joined a growing list of companies like Microsoft, Barclays, Amazon and EY that are prioritizing their employees’ mental well-being by offering paid vacation, in-person workshops, or extra time off. Piplsay, a global consumer research platform, polled 8,000 working Britons and 25,000 Americans to understand their opinions about digital health services.

—22% of U.K. respondents did not seek mental health support at work fearing negative impression at work; 6% were discouraged by others.

—54% of U.K. respondents have felt the need for mental health support at work

—55% of U.S. respondents do not receive any mental health support at their workplace

—40% of U.S. respondents have reached out for help; 31% among them have benefitted from it

Quote of the week

“Virtual meetings are a good way to start to understand someone’s personality,” she said. “If you are on a Teams work call you can still feel the chemistry. The next step is to connect via Messenger or WhatsApp and start a conversation. It could be about how you liked their ideas or approach to the topic being discussed.”

— Clinical sexologist Katie Lasson on how the office romance can live on in the new remote and hybrid working reality.

What else we’ve covered

• As recruitment and retention continue to be a challenge for employers, on-demand pay — where employees are paid after every shift as opposed to every two weeks or twice a month — is experiencing a boom. A Harris Poll in August found that 4 out of 5 workers in the U.S. between the ages of 18-44 believe they should have access to earned wages at the end of each day.

• Add one more tradition to the growing list of things the pandemic has put a stop to: happy hour. As COVID crawls on and as the workforce turning to the bottle to cope with the stresses of the pandemic has become a concern, more companies are rethinking the wisdom of mixing booze and the workplace.

• And another casualty of the hybrid working revolution could be the good old fashioned office romance. Some people might not mourn its passing, while for others it will be a devastating loss considering how many people meet their partners at work. A survey by U.K. online venue booking platform VenueScanner claims that 22% of workers have met their partner this way.

• Kuru Footwear added a new perk for employees this year: sabbaticals. The benefit is a way for the direct-to-consumer shoe brand to not only help employees accomplish life goals but “create cultural touchstone moments” for employees to share with each other.

Last week’s Climate Week in the U.S. — a series of speeches, awards, presentations and protests organized by The Climate Group — coincided with the United Nations General Assembly gathering in New York City to discuss the critical issue of climate change around the globe. The COP26 conference, which will be held in Glasgow in November, will focus on countries’ plans to cut carbon emissions. The topic is urgent: July 2021 was determined to be the hottest month on Earth in 142 years of record-keeping. United Nations Secretary-General António Guterres said recent climate data signifies a “code red for humanity.”

The Media and Climate Change Observatory — which publishes monthly updates of media attention to climate change or global warming — found that coverage of these issues in August 2021 was the highest in more than a decade. However, climate change coverage is lagging in the U.S.

U.S. print coverage of the issue was down 0.2% and TV coverage decreased 10% in August 2021 compared to the previous month. It’s unclear how coverage is defined — including whether it includes full stories on the topic or only mentions.

While there is still work to be done, some media companies have invested in new climate verticals in the past year. Financial Times’ Climate Capital hub launched in January, for example, and Bloomberg Green went live last year. A new digital publication called Cipher dedicated to covering the climate crisis will launch on Sept. 29, backed by a climate advocacy group called Breakthrough Energy, created by Microsoft co-founder and philanthropist Bill Gates.

Below is a round-up of what publishers are working on ahead of COP26. 

Key details:

• Bloomberg and FT will lift their paywalls around COP26.
• The Economist is launching a climate-focused podcast, brand campaign and week-long event.
• Group Nine’s NowThis and Seeker publications’ climate coverage has attracted a large audience in the last year.
• Condé Nast offices in London, Germany, Italy and Spain have transitioned to 100% renewable energy.

Bloomberg 

The October issue of Bloomberg Green’s print magazine will feature a dedicated special section on COP26. Climate vertical Bloomberg Green will lift its paywall and provide free access to its content throughout the duration of COP26. It will also host multiple live events the week of Nov. 8.

On Sept. 20, Bloomberg Green’s daily newsletter used the start of Climate Week to report on the progress in global climate talks. Bloomberg Green also published a guide to the metals that are fueling the global clean-energy boom last week. Additionally, it released a Bloomberg Quicktake video of Bloomberg’s Akshat Rathi explaining climate anxiety and climate whiplash, and Bloomberg TV’s David Westin interviewed John Kerry, the U.S. special presidential envoy for climate on Wednesday.

Condé Nast

Condé Nast is perhaps the most ambitious when it comes to media companies’ impact on the environment. It is working on becoming a carbon neutral company by 2030. As of September 2021, its offices in London, Germany, Italy and Spain have transitioned to 100% renewable energy, according to Alice Pilia, senior policy advisor at Condé Nast, who oversees sustainability efforts across the company. Condé Nast is exploring transitioning its offices in other markets to renewable energy sources, such as in France and India, Pilia said. Condé Nast has reduced its single-use plastic packaging (specifically, its magazine plastic wrapping) by 82% and is on track to get to 90% by the end of the year.

The Economist

Two weeks ago, the industry body Science Based Target initiative approved The Economist’s goal to cut carbon emissions by at least 25% by 2025. The Economist will debut an eight-episode, climate change-focused podcast on Sept. 27 called “To a Lesser Degree,” hosted by global energy & climate innovation editor Vijay Vaitheeswaran. This week, The Economist is launching a brand campaign to market its editorial climate change coverage in digital, print and audio. The week of Oct. 25, The Economist’s editorial team will publish a special report on what it will take to stabilize the climate. The Economist is also hosting a virtual summit from Oct. 4 through 7 called “Sustainability Week: Countdown to COP26,” which will feature global corporations, policymakers and investors who are committed to reversing climate change.

Financial Times

Nov. 3 will be “FT Open Day,” when the publication’s paywall lifts to provide readers with free access. This year, the date was chosen to coincide with the UN Climate Change Conference in Glasgow, when demand for climate-related reporting “will be heightened,” said Marie Goddard, FT’s director of customer marketing. (During the 2019 Open Day, traffic to FT was 25% higher than normal; the FT did not have an Open Day last year.) Since the launch of the FT’s climate hub Climate Capital in January, the FT’s page views of climate content have more than doubled, according to Goddard.

Marie Claire U.K.

Marie Claire U.K. recently published a guide on COP26, with recommendations on how readers can get involved. Marie Claire U.K.’s Sustainability vertical has seen traffic grow 351% year over year, according to the company, and launched its Sustainability Awards in July. James Nieves, head of U.S. trade marketing at Marie Claire UK’s parent company Future Plc, said advertisers supporting the publisher’s sustainability and climate coverage are in the CPG, QSR, automotive and beauty and fashion categories.

The New York Times

“The New York Times Climate Hub” will be a nine-day event held in Glasgow and virtually, alongside COP26. It’s the first event of this scale for The Times, according to a spokesperson. It will feature more than 70 events — including panel discussions, workshops, community-curated sessions and film screenings — on COP26 negotiations, the future of biodiversity, personal e-commerce footprints and the role of democracy in climate action. On Sept. 23, The New York Times hosted a virtual event with Times journalists and experts for the latest episode of “Netting Zero” to discuss the future of international air and shipping freight and how to reduce the carbon footprint of trade. On Sept. 20, culture reporter Cara Buckley joined the Times’ Climate desk to cover stories on scientists, entrepreneurs and policy makers working to improve the environment. 

NowThis

NowThis’ climate coverage drew 600 million video views last year. In addition to daily coverage of COP26 for NowThis Earth, its climate-focused vertical, the publisher will produce explainers breaking down the event for its young audience.

Seeker

Views on Earth and conservation content from Seeker grew 80% year over year in 2021, according to the publisher. More than half of Seeker audiences (55%) say climate change and the environment is their most pressing political issue, according to the results of a 2020 study by Seeker. Seeker curated a climate-focused playlist on YouTube with a dozen Seeker videos for Climate Week.

The Washington Post

The Washington Post hosted a virtual conversation with conservationist Jane Goodall on Sept. 22, where she discussed her expectations for the COP26 summit. The Post recently announced Maxine Joselow will author the new “Climate 202” newsletter covering climate policy that is slated to launch in early October. 

Whether it’s a joint workout with her husband or a virtual ride with the Black Girl Magic Peloton group, which allows users to workout together from home, there’s a theme of togetherness that pushes and inspires Treseder. In fact, the Nigerian-bred marketer has a mantra her mother instilled in her from a young age that serves as a career guiding light: Ambition with contentment.  

“That’s one of the things that really guides me and pushes me,” Treseder said. “I am ambitious, but I’m not ambitious just for me. I’m ambitious for us.”

Since stepping into the role at Peloton last August, where she joined from a chief marketing officer post at 3D printing company Carbon, Treseder has injected that mantra into Peloton’s current community-based marketing strategy and consolidated the fitness brand’s marketing organization. Per a Peloton spokesperson, the brand’s marketing organization was split up among two to three different leaders. Since Treseder’s arrival, all marketing operations now fall under her leadership. It has turned heads at both Peloton and throughout the fitness and media industries. Marie Claire magazine singled her out as “the reason you’re obsessed with Peloton.”

After suffering a string of bad publicity, including a marketing misfire with its controversial 2019 holiday commercial that many found misogynistic and stirred up a significant meme storm on social media, the brand has seemingly found its brand course with Treseder at the helm. Under her leadership, Peloton has shifted gears to make members the focus of its marketing efforts. This past July, Peleton’s marketing team put out its “It’s You. That Makes Us” campaign, featuring decorated athlete Usain Bolt alongside everyday Peloton users, touting the company’s community, made up of nearly 6 million users.

According marketers interviewed for this profile, Peloton’s new brand direction is synonymous with Treseder, who has focused marketing efforts to highlight the many different brand and lifestyle connections between Peloton and its users and audience. “Dara is touching almost every way you can engage with Peloton and the experience they’re delivering,” said Lee Leggett, CEO of Wunderman Thompson Australia/New Zealand.

“She is warm and caring and empathetic in a way that is unusual among senior executives. That is endearing and has led us to this mutually trusting relationship much more quickly than I would have expected,” said Brad Olson, Peloton’s chief business officer. 

What makes Treseder good at what she does is her ability to communicate and align teams around brand marketing strategy, Olson said. She’s infamous for working across the aisle. It’s a tactic she leveraged shortly after joining the team when the fitness technology brand launched its “We All Have Our Reasons” campaign, which featured Peloton members for the first time. 

“It wasn’t a one woman show,” Olson said. “But it was because she was open to feedback from my team, who’s closest to the members. It’s because she was willing to listen to our concerns.”

On any given day, Treseder says she can be found talking with Peloton’s lifecycle media and analytics team for a very quantitative-driven conversation. Or maybe she’s using a different side of her brain in a creative review, looking at upcoming advertising campaigns. In June, the brand launched it’s “Nothing Like Working Out From Home” campaign with indie ad agency Mekanism. She’s busy, but that’s by design to ensure she’s firing on all cylinders, the marketer says. 

Ahead of Treseder joining the team, Peloton was on a high with success driven by the COVID-19 pandemic — a time when white collar workers were working (and exercising) from home. Sales spiked and appointments for new bike deliveries took many weeks. In fact, the Wall Street Journal reported Peloton had posted its first ever profit as pandemic sales skyrocketed, with total revenue at “$607.1 million for the fiscal fourth quarter ended June 30, up sharply from $223.3 million a year ago.”

And over the last three years, Peloton has shifted its perception from fitness brand to global entertainment brand, leveraging content with influencer-like fitness instructors, and inking content collaboration deals with major stars like Beyonce and Shonda Rhimes.

That content is Peloton’s skeleton key, according to Leggett. “Beyond the hardware, the Peloton product is content and treating the [content as a] product itself, your communications channels, and the instructors, personalities and partners as all a part of this broadcast network demonstrates how this ethos runs through the fabric of the experience itself,” Leggett said of Treseder’s marketing direction.

According to Deb Gabor, founder and CEO of Sol Marketing, a brand strategy consultancy, Treseder’s direction is a strategy that plays into Maslow’s Hierarchy of Needs, including the need for community. “Peloton, as a brand, is like moving people up that hierarchy of needs and bringing them more towards self actualization,” Gabor said. “Part of their culture and their branding is about helping people ascend to their highest human potential.”

Upon Treseder’s arrival, the momentum behind for Peloton’s community was already building. She made it her job to supercharge it. And what some may call something approaching a cult following, Treseder sees an ecosystem — one that keys on storytelling and authentic engagement.

The first flicker of it shows up in Peloton’s return to advertising last fall with the “We All Have Our Reasons” campaign, featuring actual Peloton users instead of actors. “That was a beautiful evolution of our brand marketing,” said Treseder.

Prior to landing at Peloton, Treseder had worked the marketing circuit at major companies like Apple and General Electric, building her career on the foundation of mother’s mantra of ambition with contentment within each role. 

“You want her on your team,” said Brad Freitag, former colleague at Apple and current CEO of Claris International Inc., a computer software company. “When she’s on your team, your team is stronger.”