Sunnier Side of the Office – June 3, 2019

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"I'm not a businessman, I'm a business, man." 

- Jay-Z, recently named by Forbes as the first hip-hop artist to become a billionaire 

Cannabis or Chanel? 
By: Ben Thomas

The steady legalization of cannabis across the US is changing how people think about marijuana. And the move to more mainstream acceptance has created new considerations for brands.

For example, there’s been a purposeful change in marketing vernacular, from “weed” to “cannabis”, in an attempt to shake off the negative perceptions of marijuana and legitimize something that was considered criminal until recently.

Legalization has also opened cannabis up to new industries and brands that aren’t deterred by weed’s illicit past. Recently, high end handbag brand, Edie Parker, launched a collection of cannabis accessories – think pipes, lighters, cigarette holders - that are as much about aesthetics as they are about function. Debuting in-store alongside other luxury brands from Chanel to Kate Spade, the Edie Parker collection is another step towards changing how people think about cannabis; from something to be hidden away to something “you want to look at, and talk about.

The Increase in Branded Magazines
By: Sergio Saucedo

After years of readership and ad revenue decline, print media appears to be going through a resurgence. With the average user spending ~3.5 hours per day on a mobile device, digital is consistently becoming more competitive. As a result, some brands have started to look at print as a novelty method to retain customer attention and break through the clutter. Some of the most notable and nontraditional brands who have started launching their own print magazines are: Airbnb (Airbnb Magazine), Away (Here), and most recently Bumble (Bumble Mag).

In the long run, joining the publication space will provide these brands:

  • Increase in brand reach

  • Medium to stand out from all the competition on digital

  • Ability to curate a hyper personalized/unique brand story

  • Reach niche audiences

  • Additional source of revenue

Advertisers are in a constant bidding war for people's attention, and if the recent rise of publishing has shown anything it’s that businesses need to constantly lean into new mediums to have their brand voice be heard.

Ad-supported viewers on Hulu up to 82 million
By: Arthi Veeraragavan

Last week, Hulu announced that 70% of it’s 82 million viewers are on ad-supported plans. The provider's ad-supported subscriber base has been a significant source of revenue, generating $1.5 billion in ad revenue last year alone. 

Hulu has been able to grow it’s ad-supported base by maintaining a viewer first model when it comes to advertising: 

"As part of the goal of not irritating viewers, Hulu now caps the length of all ad breaks at 90 seconds (and in some cases less). It has long shown how much time is left in an ad pod with a countdown clock in the corner. “We want to be viewer-first,” Naylor said. “You don’t put ads where people don’t expect them.” Source: Variety

Hulu is expected to continue to grow at a rapid pace, following the announcement that Comcast has given Disney full operational control of Hulu:

“We are now able to completely integrate Hulu into our direct-to-consumer business and leverage the full power of The Walt Disney Company’s brands and creative engines to make the service even more compelling and a greater value for consumers,” Disney chairman/CEO Bob Iger said in a statement about the pact. Source: Variety

Advertisers and brands are both looking forward to seeing how the platform will transform under Disney, as well as how the entrance of competitive streaming services will impact the OTT space. 
According to recent research, the most compelling reason for trying out a new Direct-to-Consumer brand is a free trial period (27.4%), followed by an appealing online presence (21.4%) and loyalty benefits (16.7%). Additionally, consumers cited ads they saw on social media as the top reason they decided to make a purchase. 
Copyright © 2019 M/H VCCP, All rights reserved.

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