Key Industry Updates: August 2024

To stay in the loop on all things media, check out these key industry updates for August 2024.

Google Keeps Third-Party Cookies and Unveils New AI-Driven Search Features

Google has decided to keep third-party cookies active in Chrome, reversing its earlier plan to phase them out. This shift challenges the previous move towards a cookie-less future promoted by Google's Privacy Sandbox and prompts global marketers to rethink their strategies.

Maintaining third-party cookies will preserve current ad-buying practices and personalized campaigns. Marketers are still encouraged to focus on building direct consumer relationships, enhancing transparency, and utilizing first-party data and contextual advertising.

To address increasing competition from AI-powered chatbots, Google is introducing new features to enhance its search experience. Google Lens is being integrated into Chrome, allowing users to search for items on their desktop screen by clicking the Lens icon, thus simplifying product searches.

Additionally, Google is rolling out AI-powered product comparisons in Google Shopping, which will generate comparison tables with product specifications, prices, and reviews. Another new feature will help users find previously visited pages through conversational queries, making it easier to access past browsing history.

These updates aim to strengthen Google’s position in search and shopping by improving user experience and highlighting detailed product information.

Sources: The Keyword, Google's Official Publication and Campaign Middle East

LinkedIn Enhances Platform with Sponsored Newsletters, Verification Badges, and Reports Revenue Growth

LinkedIn is enhancing its platform in several ways. It now hosts over 184,000 newsletters, with engagement up by 47%. Brands can sponsor any newsletter—whether user-generated or from company pages—using Campaign Manager for paid promotions. Sponsored newsletters can feature an “Unlock Article” CTA to generate leads, offering more opportunities for brands to connect with their audience.

Additionally, LinkedIn is rolling out gray verification badges for company pages. These badges increase trust by showing that a company page meets LinkedIn’s standards for accuracy and policy compliance. Although the verification process is gradual due to the high volume of pages, it aims to help users identify legitimate companies over time.

LinkedIn’s fiscal Q4 results show a 10% revenue increase and record engagement. Video uploads have surged by 34% year-over-year, and the platform now sees 1.5 million pieces of content shared every minute, with video being the fastest-growing content type.

To support this trend, LinkedIn is introducing improved video features and has experienced a 51% rise in Premium sign-ups. This boost is attributed to new Premium Company Pages and AI writing tools. These updates highlight LinkedIn’s focus on video content and AI to drive growth and engagement.

Source: Social Media Today

Meta Removes Ad Exclusions and Sees Significant User and Revenue Gains

Meta has recently made notable changes to its ad strategies and reported strong results in its latest earnings report.

The company has removed detailed targeting exclusions from new ad campaigns. Previously, advertisers could exclude specific demographics or interests, but Meta’s AI now handles ad delivery more effectively. Research shows that this change has improved the cost per conversion by 22.6%. Existing campaigns with exclusions will continue until January 31, 2025, after which they will be phased out. Advertisers can still use other exclusion methods and take advantage of automated Advantage+ campaigns.

In its Q2 earnings report, Meta highlighted a strong focus on AI, which contributed to a 7% increase in "Family Daily Active People," reaching 3.27 billion. Revenue grew by 22% to $39.07 billion, driven by more ad impressions and higher prices. Despite a $4.5 billion loss in its Reality Labs division, Meta remains committed to investing in AI and VR. These investments are boosting user engagement through new AI-driven recommendations and are expected to support long-term growth. The integration of AI into VR and AR technologies suggests promising developments for Meta’s metaverse ambitions.

Sources: Meta and The Wall Street Journal

Instagram Increases Carousel Frame Limit to 20

Instagram carousels are receiving a significant upgrade, now allowing up to 20 frames per carousel. This expansion builds on previous updates that increased the limit from 10 to 15 frames, providing users with greater flexibility to showcase up to 20 photos or videos in a single post.

Instagram has been experimenting with longer carousels, text overlays, and various presentation formats. The new 20-frame option offers a richer way to share detailed stories or albums, enhancing content display. It will be interesting to see how the Instagram community embraces and utilizes this expanded feature.

Source: The Verge

Meta’s Threads User Base Expands to 200 Million

Threads, Meta’s social media app, has hit 200 million monthly active users just over a year after its launch, marking a major milestone and showing strong growth. The app’s user base grew from 175 million to 200 million in the past month alone, reflecting a significant acceleration. This follows a steady growth rate of 7.5 million new users per month from October 2023 to February 2024, and 9 million per month until July.

The recent surge in users is partly due to political events and real-time discussions, which may have attracted users from other platforms like X (formerly Twitter). While Threads still trails behind X— which has 250 million daily active users and 500 million monthly participants— its rapid growth suggests it could capture more online attention soon.

Source: Yahoo Finance

TikTok's New Report Unveils Key Shopping Trends and Introduces In-App Amazon Purchases

TikTok’s second annual “What’s Next” trend report highlights key shopping trends on the platform, focusing on changes in consumer perceptions and brand expectations under the theme of “bending.” The 26-page report identifies three major trends and their effects on user behavior, combining immediate and long-term signals.

The report explains how trends and hashtags influence shopping activity and offers guidance for improving your TikTok marketing strategy. You can download the detailed report here .

Additionally, TikTok has introduced a new feature that allows users to buy Amazon products directly within the app. By linking their TikTok profile with their Amazon account, users can make purchases easily with real-time pricing and delivery estimates. This feature aims to enhance user convenience and increase shopping activity on TikTok.

Source: TikTok Newsroom

YouTube Tests Picture-in-Picture Ads for Live Streams

YouTube is testing a new ad format for live streams: picture-in-picture mid-roll ads. These small ads will appear at the top of the screen, avoiding interruptions to the stream and aiming to keep viewers engaged.

Available on select devices in the coming months, this format allows creators to monetize their streams without disrupting the content. This follows earlier tests of mid-roll ads with countdowns and delays designed to minimize disruptions.

YouTube reports that automated mid-roll ads have already increased creators' in-stream ad revenue by over 20% per hour. The new picture-in-picture format aims to further integrate promotions seamlessly into live broadcasts. It will be tested on selected live streams to evaluate its effectiveness and viewer reception.

Source: The Verge

Snapchat+ Tops 11 Million Subscribers, Simplifies Ads Manager, and Reports 25% Increase in Watch Time

Snapchat+ is leading the social media subscription market with 11 million paying users, outpacing competitors like Facebook and X. Unlike other platforms that focus on verification perks, Snapchat+ offers over 40 user-focused features, such as Chat Wallpapers and AI Bitmoji Pets. This success highlights that users prefer meaningful enhancements over superficial status symbols.

Snap is also simplifying its Ads Manager by reducing campaign objectives from eleven to five: Awareness and Engagement, Traffic, Leads, App Promotion, and Sales. This change aims to streamline campaign setup by combining similar options and providing clear overviews for each objective. The updated format will roll out over the next few months, with existing campaigns transitioning automatically.

For Q2 2024, Snap reported a 25% increase in global content watch time and reached 432 million daily active users. The company earned $1.24 billion, with notable revenue growth in non-U.S. and European markets. While user growth in key markets remains stable, Snap’s investments in AI and AR tools are boosting engagement. Overall, Snap is performing strongly and expanding in new regions despite rising costs.

Source: Snap Newsroom

Khaleej Times Launches Arabic Portal

Khaleej Times (KT), a leading English newspaper in the UAE, has launched an Arabic online portal to better connect with the local community. Mohammed Galadari, Group CEO and Co-Chairman of Galadari Brothers Group, announced the expansion, aiming to broaden their reach.

Editor-in-Chief Michael Jabri-Pickett noted that the new Arabic site supports KT's goal of reflecting the Arab world and offering content in both English and Arabic. The portal emphasizes speed, accuracy, and responsible journalism, with a focus on long-term growth.

This launch underscores KT's commitment to its diverse audience and could inspire other English-language media outlets in the region to follow suit.

Source: Campaign Middle East

In the Know. Up to Date. On the Dot.