Global Smart Speaker Shipments To Rise 21% Next Year, Global Social Media Ad Spend Jumps 56.4% In Q3
Global Smart Speaker Shipments To Rise 21% Next Year
As lockdowns are becoming an everyday part of life, the global smart speaker market is set to grow by 21 per cent next year, reaching 163m units. The surge in sales is mainly driven by growth in Mainland China. Although Amazon, Google, and Apple have all debuted upgrades and additions to their smart speaker lines over the past few months only Apple sells its own smart speakers in Mainland China. However, Amazon and Google continue to dominate global market share. Read more.
Covid-19 Continues To Hit UK Marketing Budgets Hard
UK marketing budgets continued to drop substantially in the third quarter of the year as the COVID-19 pandemic continues. 48% of marketers explained they are are not pessimistic about the financial prospects of the industry, versus only 16.8 per cent who are optimistic. Though this is a big improvement from Q2 which was the least downbeat the industry has been so far this year. IHS Markit, authors of the report, predicts that there will be an 11.2 per cent contraction in GDP during 2020 – a slight improvement on the 11.9 per cent decline forecasted in Q2 2020. Events will remain the hardest-hit category as social distancing measures limit their viability of such spending. Read more.
Facebook's Continues In Its Efforts To Conquer Advertising in Gaming
Facebook is launching a new video game service that enables its users to stream games from the cloud. Facebook said the new format can support interactive demos from a game's native code, blurring the line between games and ads. Facebook imagines a world where you are able to try out "Tennis Clash" before buying it. Business Insider suggest the new games service, like Facebook itself, would be paid for through advertising. Players become usage data which becomes grist for the advertising mill that Facebook's business is built on.Read more.
Global Social Media Ad Spend Jumps 56.4% In Q3
The Drum reports that despite an overall drop in marketing budgets, global social media ad spend increased by 56.4% in the third quarter versus the three months previous, taking average spend close to double that recorded during the pandemic trough of late March. Daily news and NGOs saw major spikes in interactions. In the travel sector interactions rose by 60.9% on Facebook yet fell 31.2% on Instagram. Commerce brands continue to draw the lions share of Facebook interactions in the UK at 44.3%, ahead of the 36.8% recorded in the second quarter of 2020. Read more.
Will Livestreaming Revolutionise The Travel Industry?
The Drum postulates, with input from marketers in Asia Pacific, livestream formats on social media may revive the travel industry. "Livestreaming can also open new doors for alternative revenue streams for merchants to explore, from virtual interactive experiences to paid premium content. These features open up new business potential for merchants and can be used as a growth engine to accelerate the travel industry’s recovery from Covid-19" Read more.