Month: September 2024

With less than two months to go before the most consequential presidential election in recent U.S. history, estimates of the advertising dollars being dropped into the race keep going up — as high as $12 billion, according to eMarketer. 

There’s no doubt that television, in particular local TV, will benefit greatly from this bounty of election-related spend, presidential, downstate, PAC money and issue-oriented. Magna, in an update on 2024 projected ad spend it released earlier this week, predicted that ad spend on local television will surge 25% this year, mostly the result of political ad dollars.

But what about other media? Digital is sure to secure big gains, but surprisingly not on the same platforms as they generally used to spend. It seems Apple’s move to limit ad tracking, which happened after the 2020 elections, has impacted spending on Meta platforms, while ad spend on X (formerly Twitter) has skyrocketed now that the platform accepts political advertising under Elon Musk’s ownership. 

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For nearly two decades, ad execs have watched Google tighten its grip on ad dollars, moving from frustration to horror, and finally, to resigned apathy. It wasn’t just that Google was cutting them out — it was that Google was winning, untouchable and unchallenged. Every accusation, from anti-competitive data practices to squeezing publishers with hefty fees, became grudgingly accepted as the cost of doing business.

But now, as behind-the-scenes revelations expose how Google’s execs orchestrated their dominance, that resignation has turned into something far tastier: schadenfreude.

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The U.S. Department of Justice’s efforts to bring Google to heel at trial for the second time this year are well underway in a Virginia courtroom where its $307 billion-per-year ad empire faces a potential breakup.

The trial sheds light on the intricate workings of Google’s ad-tech dominance and the industry’s competitive dynamics, with some of its more esoteric offerings, such as its ad server and ad exchange, a.k.a. ‘DFP’ and ‘AdX, et al. debated extensively (see right).    

In disclosures contained in more than 1,800 trial exhibits plus the testimonies of more than 25 witnesses over seven days entered by the DOJ, the complexity and implications of Google’s dominance of the digital advertising ecosystem slowly comes into view.

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The Wall Street Journal is no longer the only Dow Jones property to come to life for its traveling event franchise, the Journal House.

This week, hosted congruently with the Singapore Grand Prix taking place Sept. 18-19, the Journal House featured the WSJ’s B2B sibling brands for the first time, including OPIS and Dow Jones Risk & Compliance. And next week, both the consumer and B2B brands will pop-up again at the Journal House in New York City during the UN General Assembly’s Climate Week.

The Wall Street Journal has showed up at marquee events for world leaders — like the World Economic Forum and the Cannes Lions Festival — through its Journal House event franchise since 2019. But Josh Stinchcomb, global CRO of Dow Jones, said the business model had the potential for expansion. And by adding clients from its B2B businesses to the attendee list, in addition to the typical C-suite executives that the WSJ attracts to the house, it ultimately opened the aperture to more advertisers his team could pitch for Journal House sponsorships.

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A peek at DPS

So far, 2024 is looking pretty good — especially compared to last year — but that doesn’t it hasn’t been without challenges. Referral traffic from search and social platforms is still lackluster; generative AI technology is still transforming the media industry (despite whether publishers want it); and Google’s decision to walk back its third-party cookie deprecation plans came as quite the shock after five years of preparation.

All that and much more will be discussed during the Digiday Publishing Summit next week, Sept. 23-25, in Key Biscayne, Fla. And in between catching rays and catching up, publishing execs from Axios, Bloomberg, Disney, Hearst, Time and many more will take the stage to unveil their strategies for facing the biggest threats and opportunities in the digital media industry right now. 

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Sam Nelson Harris, lead singer of the X Ambassadors, performs an ode to a dishwasher, with lyrics pulled directly from online consumer reviews.

Midtown Manhattan may not be anywhere near Long Island, but former President Donald Trump fit a Fox News pit stop into his busy New York schedule on Wednesday. Hours before taking the stage at a rally held at the Nassau Coliseum in Uniondale, NY, Trump visited Greg Gutfeld’s studio at FNC HQ. Fox News released…

Siding against Meta Platforms, a judge is allowing Messenger users to proceed with a class-action complaint alleging the company unlawfully collects biometric data.

The House Committee On Energy and Commerce on Wednesday advanced the controversial Kids Online Safety Act, which would regulate how social-media platforms display material to minors under 17.