Dive Brief: The global social commerce industry is expected to grow three times as fast as traditional e-commerce, from $492 billion in 2021 to $1.2 trillion by 2025, a new Accenture report titled “Why Shopping’s Set for a Social Revolution” revealed. The growth will be driven by Gen Z and […]
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IAB: US digital ad spend will grow 6% this year amid broader slowdown
Dive Brief: Advertising executives expect spending on digital advertising in the U.S. will grow 6% this year, contrasting with an 8% decline for the broader ad market. Spending on traditional media that includes linear TV, out-of-home, standard radio, print and direct mail will plunge 30%, the Interactive Advertising Bureau (IAB) […]
Calls grow for regulation of buy now, pay later schemes as teens rack up debt
Retailers are also being forced into the conversation. Bath bomb retailer Lush is understood to be among the UK companies looking at how to make information about these products clearer on its website while William Adoasi, the chief executive of luxury watch business Vitae London, recently told his 11.2m Twitter […]
Emerging Asia to grow 0.1% in 2020, slowest rate since 1961
MANILA — Developing Asia will barely grow this year as lockdowns imposed to fight the spread of the coronavirus hamper economic expansion, the Asian Development Bank said in a report on Thursday. The region is expected to grow by 0.1% this year, the slowest rate since 1961 and a further […]
Walmart teams with Shopify to grow its marketplace
Dive Brief: Walmart and Shopify on Monday announced they are partnering to bring 1,200 sellers onto Walmart.com’s third-party marketplace by the end of this year. The focus of the program is “U.S.-based small and medium businesses whose assortment complements ours,” Walmart Marketplace Vice President Jeff Clementz said in a company blog post. Activating […]
Sweden-China ties grow ever icier over Hong Kong and coronavirus
PRAGUE — When European Union foreign ministers held a video conference on May 29 — the day after China approved national security legislation for Hong Kong — only one member state asked whether Brussels should at least consider sanctioning Beijing: Sweden. Nothing came of it. EU foreign policy chief Josep […]
Comcast splits ownership of targeted ad platform with Charter, ViacomCBS as TV pressures grow
Dive Brief: Comcast is spinning off its Blockgraph platform for TV ad-targeting, splitting ownership with ViacomCBS and Charter Communications, according to a joint press statement. The news was first reported by The Wall Street Journal earlier today. Under the new ownership structure, each pay-TV provider will own one-third of Blockgraph, […]
China presses on with defense buildup as US tensions grow
BEIJING — China announced on Friday a 6.6% increase in annual defense spending to 1.27 trillion yuan ($178 billion) even with its economy still reeling from the coronavirus pandemic, in a move that risks further escalating tensions with the U.S. While this is a smaller rise than last year’s 7.5%, that the […]
Mortgage payment holidays extended to October as fears grow for household finances
Homeowners struggling to pay their mortgage can now ask their bank for a further three month payment holiday. The Treasury and the City watchdog, the Financial Conduct Authority (FCA), announced in March that all mortgage borrowers could ask for a three month payment break if they were struggling with the […]
How to safeguard and grow OTT, CTV ad revenues during the pandemic
The following is a guest post from Daniel Elad, chief strategy officer at SaaS ad monetization platform TheViewPoint. Opinions are the author’s own. The COVID-19 pandemic has disrupted every industry, including the media sector, providing both challenges and opportunities. Among widespread travel restrictions, postponed or canceled live sports events (the […]