Last March I Learned

Hello, and?welcome back for another?"Last Month I Learned". Happy April!

For the newcomers: In this LinkedIn newsletter, I curate a monthly shortlist of noteworthy things that you might have missed, in the Marketing, Tech, and Innovation field. I aim to create an archive of "news worth knowing" that may have flown under your radar. This list of links is designed to be consumed in under 5 minutes. Stay in the know and?subscribe?to receive these links before anyone else!

So, what's new?

This is what I found interesting last month and you may have overlooked:

1. Amazon's "Frequently Returned" Label on Apple's FineWoven iPhone Cases: Amazon has begun tagging products with a “frequently returned” label, with Apple’s FineWoven iPhone cases falling under this scrutiny due to a significant number of one-star reviews and returns. The cases, intended as a high-quality alternative to leather, faced criticism for their quality and durability, leading to divided customer feedback. This move by Amazon highlights the importance of customer satisfaction and product quality in e-commerce transactions. [Business Insider]
2. Temu's Record-Breaking Ad Spend on Meta Platforms: Temu, the e-commerce newcomer, made headlines by spending an astonishing $2 billion on advertising with Meta Platforms last year. This strategic investment marks Temu as Meta's top advertiser in 2023, a testament to its aggressive market penetration efforts. The ad blitz is part of Temu's broader marketing strategy, significantly boosting its visibility across Facebook and Instagram. This move reflects the escalating competition in the digital marketplace, with Temu leveraging Meta's extensive reach to capture consumer interest and drive growth. [MediaPost]
3. Russian-Linked Fake News Sites Emerge: Recent weeks have seen the launch of mock news platforms like D.C. Weekly and the Chicago Chronicle in the U.S., all with ties to Russian operations. These sites, designed to mimic genuine news outlets, intersperse Kremlin propaganda amidst actual news, marking a sophisticated push to influence American public discourse. This strategy underscores the evolving challenge of digital disinformation, particularly ahead of significant electoral events. [SEJ, Political Wire, Hawaii Tribune-Herald]
4. Academy Awards Viewership Sees Uplift in 2024: The 2024 Academy Awards experienced a significant viewership boost, attracting 19.5 million total viewers, marking a 4-year high. This 4% increase from the previous year signifies a growing audience interest, with the broadcast implementing a new start-time strategy to maintain viewer engagement. This positive trend in viewership aligns with broader increases across major awards shows this season [TheWrap].
5. Dating Apps Face Growth Challenges: Dating apps generated $5.34 billion in revenue in 2022, with Match Group contributing $2.8 billion. Over 300 million people globally use dating apps, and about 20 million opt for premium features. Tinder, the most downloaded app in 2023, leads in the U.S. and Europe. Despite a vast user base, dating apps face challenges in growing their paid subscriber numbers amid product innovation stagnation and shifting user preferences, especially among younger demographics looking for different platforms [Business of Apps].
6. $2,628 effective CPM to reach one consumer: An Adalytics report revealed that Comcast paid an effective CPM of $2,628 to reach a single consumer on a "Made for Arbitrage" site in one session. This figure highlights the high costs some brands incur to achieve targeted reach, potentially exceeding the cost of advertising during premium events like the Super Bowl half-time show or on platforms like Netflix or Amazon Prime Video. [Adalytics]
7. EU's Artificial Intelligence Act: The European Parliament has approved the world's most comprehensive AI legislation, setting strict guidelines for AI usage and innovation within the EU. The Artificial Intelligence Act categorizes AI technologies based on risk levels, with severe restrictions or outright bans on high-risk applications. This landmark regulation aims to protect citizens from potential AI-related risks while fostering technological advancement, marking a significant step in global AI governance. [DW]
8. Meghan Markle Dives into Lifestyle Branding: Meghan Markle has launched a new lifestyle brand, American Riviera Orchard, and filed for trademarks for a variety of domestic items, including cutlery, cookbooks, and jarred foods. The brand reflects her interests similar to those she shared on her former blog, The Tig, and seems to be a nod to her and Prince Harry's home in Santa Barbara, known as the American Riviera. This venture marks her return to Instagram after a five-year hiatus, introducing the brand with content that includes arranging flowers and cooking [Yahoo].
9. Unilever to Spin Off Ice Cream Business Including Ben & Jerry's: Unilever is set to spin off its ice cream division, including Ben & Jerry's, as part of a strategy to become a more focused company. This move, planned to be completed by 2025, aims to address underperformance in the ice cream sector and improve overall productivity. The decision reflects Unilever's effort to streamline its operations amidst pressures to boost growth and margins. For further details, you can read the full article on Dairy Reporter: [Dairy Reporter]
10. Emily Ratajkowski's Brand Faces Customer Backlash: Emily Ratajkowski's swimwear brand, Inamorata, is facing customer complaints over delayed shipments, with some orders placed as far back as November not yet fulfilled. The brand has acknowledged the issue and is offering refunds to those affected, citing a significant volume of orders from their Black Friday sale as the cause of the delay. [Independent]
11. Programmatic Olympics: NBCUniversal is set to offer programmatic access to its Olympics inventory for the first time, partnering with The Trade Desk to create a private marketplace. This innovative approach will include biddable access to events from the US Olympic Trials to the Paris Games, marking a significant shift towards more flexible advertising strategies for the upcoming Olympic Games. [MediaPost].
12. Canva's Acquisition: Canva has officially welcomed Affinity into its family, aiming to expand its mission of empowering everyone to design. The acquisition unites Canva's vast user base with Affinity's professional design tools, promising enhanced capabilities for a broad range of designers. This move signifies Canva's commitment to serving not just amateurs but also professional designers. [Canva]
13. UMG turns to Spotify: Spotify and Universal Music Group (UMG) are enhancing their strategic relationship, introducing new features on Spotify to promote UMG artists and their releases. This collaboration now includes music videos for UMG artists in the U.S., a move following UMG's withdrawal of its catalog from TikTok due to a licensing dispute. The partnership aims to enrich music discovery and fan engagement, offering previews of new songs and full music videos on Spotify. [TechCrunch]

The STAT: Double up in 3 Months! Cocoa prices have surged dramatically, doubling since the start of 2024. This significant increase, reaching as high as $8,493 a metric ton, is attributed to a mix of factors including crop diseases and weather extremes in West Africa, the main cocoa-producing region. This price hike is starting to affect chocolate costs, with nearly 90% of US consumers planning to buy candy for Easter. Manufacturers are now adjusting, with some opting for price increases or altering their products to manage costs. [Bloomberg]

Fun & Surprising: Loud luxury in BigTech: Mark Zuckerberg and Priscilla Chan embraced "loud luxury" at the Ambani family's pre-wedding celebrations, wearing Alexander McQueen outfits totaling $22,000. This marks a departure from their usually understated style, highlighting a trend towards more opulent displays of wealth. [Yahoo News]

Bonus!

POV: The True Power Behind the Screen: It's the Algorithm, Stupid.

February 2024 marked a pivotal moment as Universal Music Group (UMG) parted ways with TikTok, silencing many tracks across the platform. Who is the losing side from this depart? We have to understand a fundamental truth: in today's digital battleground, the might of music labels is overshadowed by the sophisticated algorithms of platforms like TikTok, which captivate audiences not merely with music but with personalized, compelling content. People are not on TikTok for its music. Instagram, despite offering music, hasn't matched TikTok's allure, underscoring the decisive role algorithms play in shaping user preferences. People are not on these platforms to listen to music but to see content they find interesting. This departure from TikTok might cost UMG and its artists dearly, forfeiting the algorithmic magic that has launched countless songs to viral fame.

However, UMG seems to rather understand that and is in a strategic pivot as mentioned in this month's edition, with UMG now deepening its ties with Spotify, a platform where users are for the music, signaling a new era of music promotion.

What to read: In this month's read, I highly recommend Scott Galloway's "The Algebra of Happiness: Notes on the Pursuit of Success, Love, and Meaning". It's a compelling exploration of how we can find purpose and fulfillment in our lives and careers. Galloway's insights are both profound and practical, making it a must-read. I found it so engaging that I finished it in less than a week!

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