Inside Time magazine’s growth plans, Casper’s buzzy IPO, and Amazon’s $17 billion ad business


marc benioff

Hi! Welcome to the Advertising and Media Insider newsletter. I’m Lauren Johnson, a senior advertising reporter filling in for Lucia this week. If you’re new to this email, sign up for your own here. Send me tips or feedback at ljohnson@businessinsider.com.

This past week, Lucia looked at Time magazine’s plan to expand into verticals like health and business and grow revenue from audio, video and events. Here are the main takeaways:

With billionaire owners Marc and Lynne Benioff, the company is no longer under corporate earnings pressure or facing internal competition that other media companies often deal with.
Time is a $200 million company today and wants to grow into a billion-dollar media company.
The company is going deeper into live events and exhibits as a way to drum up revenue from ticket sales and sponsorships.

The president of Marc Benioff’s Time reveals how he plans to restore the neglected title and make it a billion-dollar business

Meanwhile, my colleague Tanya Dua looked at buzzy mattress brand Casper’s IPO filing that gives a glimpse into how direct to consumer brands are spending marketing dollars.

Between 2016 and 2019, Casper spent nearly half a billion dollars on marketing.
The brand’s nontraditional approach to marketing — including quirky subway ads in New York and pop-ups — increased Casper’s brand sentiment to 80%, according to data from Salesforce Social Studio.
Casper hires influencers for ad campaigns, but cited them as a potential risk in its filing.

Buzzy sleep startup Casper spent nearly half a billion in marketing on the road to its IPO — and cited influencers as a risk in its IPO filing

Tanya also reported on Microsoft’s attempts to win over retailers and take on Amazon with new tools.

Unlike Amazon’s pitch that centers around marketers selling items on Amazon, Microsoft is betting that it can help retailers make money from their own websites.

One tool called PromoteIQ allows advertisers to put ads in their storefronts while another tool lets retailers add a search bar to e-commerce websites that can be filled with product recommendations.

“Our $8 billion search-advertising business — though small within the overall Microsoft context — is a pretty meaningful focus for us,” Rik van der Kooi, the corporate VP of Microsoft advertising, said. “As retail undergoes significant digital transformation, our intention is to leverage our technology to help our customers and partners, specifically in retail.”

Microsoft is rolling out new ad tools for retailers like Home Depot and Kohl’s — marking its most brazen attack on Amazon’s retail dominance to date

Research firm Cowen released its annual survey of 50 advertisers, and it gives a peek into Amazon and Instagram’s ad business.

As I reported, Cowen affirms Amazon’s becoming a third big player for advertising behind Google and Facebook. Cowen expects Amazon to make $17.6 billion from advertising this year, up 36% increase from 2019, and $46.6 billion by 2025. To compare, the firm expects Google to make $191.4 billion in advertising this year and Facebook, $84 billion.

7 charts show why Amazon’s ad business could balloon to $17 billion …read more

Source:: Businessinsider – Tech

      

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