Snoop Dogg Doesn't Quit, but Solo Stove's CEO Doess and Spanish Influencers May Face Quitting with New Regulation??

Hey there, TuManag3r friends & Influencer Marketing enthusiasts! ??

Welcome back to another edition of our influencer marketing newsletter. Today, I've got some updates that are stirring the pot in the influencer world.

So, as always, buckle up and let's dive into these stories! ??

Spain Lowers Threshold for Influencer Regulation ????

In a move that's garnering a lot of attention, the Spanish government has decided to lower the threshold for what qualifies someone as an influencer. This decision, influenced by suggestions from the National Commission on Markets and Competition (CNMC), the Association of Communication Users (AUC), and the Union of Commercial Television Stations in the Open (UTECA), (The TV Channels to be clear), marks a pivotal shift in the influencer industry.

The government, led by Jose Luís Escrivá, has amended the initial draft of the Royal Decret from the Ministry of Digital Transformation. Previously, an influencer or User of Special Relevance (UER) was defined as content creators with more than two million followers and an annual income exceeding 500,000 euros. Now, the threshold has been lowered to those earning over 300,000 euros annually and reaching more than one million followers across their platforms.

This modification significantly broadens the scope of who falls under the General Law of Audiovisual Communication. It's a substantial change from the initial proposal and extends the reach of the law to a larger group of influencers.

Notably, commercial television stations had advocated for an even lower threshold, suggesting a minimum of 100,000 euros in annual revenue and at least 100,000 followers across platforms.???? While the government's decision doesn't go this far, it still represents a notable decrease from the original criteria.

The changes includes distinct separation of commercial communications from editorial content, prohibition of advertising certain products like tobacco and alcoholic beverages targeted at minors, and restrictions on promoting gambling and betting services.

Influencers must also ensure their content doesn't incite violence, hatred, discrimination, or criminal activity. To protect minors, they are required to use symbols or auditory warnings to indicate the nature of the content (such as violence or sexual content) and provide control mechanisms to prevent minors from accessing inappropriate material.

With this decree, Spain joins other European countries like Austria, Belgium, France, Germany, Greece, Lithuania, the Netherlands, and Norway in regulating influencer activity.

This move by the Spanish government is a significant step towards more stringent regulation of the influencer industry... It reflects a growing awareness of the impact influencers have on their audiences and the importance of ethical standards in digital communication

Snoop Dogg's smokes the CEO of Solo Stove ??

In a surprising twist, the CEO of Solo Stove Europe has stepped down after the "succesfull" campaign with Snoop Dogg.

In a surprising twist in the influencer marketing world, Snoop Dogg, the 52-year-old rapper known for his fondness for marijuana, became the face of Solo Stove's "quitting smoke" campaign in November. In the initial ad, Snoop Dogg humorously noted he was going smokeless and asked for his privacy to be respected. He later clarified on social media that he was referring to switching to Solo Stove's smokeless fire pits, not giving up smoking entirely.

However, this unconventional marketing strategy didn't quite pan out as expected.

The ad, which debuted on November 16, featured Snoop Dogg claiming he was giving up smoking. This bold statement from the Drop It Like It's Hot artist instantly grabbed attention and sparked speculation among fans. Despite the initial buzz, the campaign failed to translate into significant revenue for Solo Stove.

Following the campaign's financial shortcomings, John Merris, CEO, president, and director of Solo Stove since October 2018, agreed to "mutually separate" from the brand. This departure marks a significant shift for the company known for its smokeless fire pits. Merris had also been on Solo Stove’s board of directors since March 2021 and was recognized as an EY Entrepreneur of the Year Regional Winner.

Addressing the outcome, interim CFO Andrea Tarbox acknowledged that while the campaign raised brand awareness, it didn't lead to the expected sales lift. The increased marketing investments adversely affected the company's EBITDA (earnings before interest, taxes, depreciation, and amortization). However, company officials remain optimistic about the long-term benefits of these campaigns in building brand awareness.

Despite the financial results, Merris noted that around 60,000 people gained new awareness of Solo Stove through the campaign, with an uptick in social media followers. This suggests that while revenue didn't spike, the campaign did make some waves in terms of brand visibility.

Interestingly, the ad campaign did receive accolades within the advertising industry. Ad Age included it in its top 40 ads of the year, recognizing its creative approach and potential to disrupt the market.

This story underscores how the alignment between the influencer, the message, the strategy of the company and the audience is crucial. And that's the reason why we exist in TuManag3r , to help you in those critical allignements.

And there we have it, folks! As always, the influencer world is buzzing with innovation and change, and we're here to keep you in the loop. Until our next edition next friday, keep your eyes peeled for the latest trends and shifts in this dynamic industry! ???

P.S.: Got a topic you're itching to hear more about? Drop us a line in the comments! We're all ears! ????

Until then, embrace the good vibe and don't get too cold! ?

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