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Snapchat Nears 250 Million Daily Users as Advertisers Lift Spending on Platform

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Snap Inc.’s revenue surged in the latest quarter, as the company attracted more users to Snapchat as well as advertisers looking to reach people spending more time online and on mobile devices as a result of the coronavirus pandemic.
Quarterly revenue rose 52% to $678.7 million, well ahead of analysts’ estimates of $557 million, according to a FactSet poll. Many advertisers resumed or increased their marketing budgets during the quarter, the company said, as businesses redirected money to self-serve advertising, a faster way of launching a campaign while reducing costs.
Snapchat added 11 million users from the prior quarter to end the September period with 249 million daily active users. The user growth was stronger than analysts had forecast and showed that the platform benefited from strong engagement even with the emergence of TikTok and strong results earlier this year from Facebook Inc.’s networks. Snap said it continues to see strong engagement among Gen Z and Millennial users in the U.S., the U.K. and France.
Shares rose more than 20% in after-hours trading to $35. Snap’s shares had gained 74% this year through Tuesday’s close.
On a conference call Tuesday, Jeremi Gorman, Snap’s chief business officer, said the company landed business …

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Banana Republic Returns to TV Advertising for Holiday Season

banana republic returns to tv advertising for holiday season

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Banana Republic is returning to the airwaves for its national ad campaign, starting Nov. 9. The brand, which hasn’t advertised on TV since 2005, will run its campaign across networks including CBS, E! and Bravo, among others, as well as bananarepublic.com, digital media and direct mail, which starts Wednesday.
Banana Republic’s “Love the Present” holiday campaign celebrates love and underscores appreciation for the here and now. Shot by photographer and director Cass Bird, the creative showcases real-life families and couples who share their affectionate spirit of the holidays in personal ways.
“In this unprecedented time, holiday 2020 is an opportunity to refocus on what really matters — spending time with loved ones, creating new traditions and making the most of every moment, big or small,” said Mike Janover, head of marketing for Banana Republic. “With shifting consumer shopping patterns and more time spent at home than ever, it’s the right time to layer in national broadcast to extend our message to a wider audience and visually demonstrate the versatility of the assortment to the consumer.”

Among those featured in the campaign are couples Guinevere van Seenus and writer Beau Friedlander; Barbara Valente and photographer Paulo Almeida; Samantha Marie Gradoville and …

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Snap says brand advertising coming back, hints that Facebook boycott helped Q3

snap says brand advertising coming back, hints that facebook boycott helped q3

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In this screengrab, Evan Spiegel, CEO of Snap, Inc., takes the stage at the virtual Snap Partner Summit 2020.Getty ImagesSnap said it’s seeing positive momentum in the ad market, including in the brand advertising segment that struggled in the early days of the the coronavirus pandemic. The company also said that Q3 results were bolstered by advertisers looking for “platforms who share their corporate values,” an oblique reference to Facebook’s content moderation practices during major national events such as the George Floyd protests.The company’s shares rocketed up more than 20% in after-hours trading after the company reported Q3 earnings, revenue and daily user counts that all beat expectations.Chief Business Officer Jeremi Gorman said in prepared remarks that Snap was seeing “the beginnings of a recovery from brand advertisers, and continued resilience from direct response advertisers” in the third quarter. Snap worked with advertisers in the quarter to adapt in a time where many consumers were shopping at home — for instance, using Snap’s augmented reality tools to offer consumers virtual “try-ons” as dressing rooms at many retailers remain closed and while there were new precautions around sampling products like makeup.As economic fallout from the pandemic started to hurt advertising …

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Highland Tire to pay Highlands $19K to advertise at district sports facilities

highland tire to pay highlands $19k to advertise at district sports facilities

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Google’s Antitrust Suit Is Focusing on Search Ads—for Now

google’s antitrust suit is focusing on search ads—for now

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Despite previous speculation about how the government could dismantle Google’s dominance in the digital advertising marketplace, the Justice Department’s lawsuit, which it filed Tuesday along with 11 Republican state attorneys general, focuses on Google’s ads business on a limited basis.Rather than interrogating the mechanisms of Google’s ad stack, government lawyers approached Google’s digital advertising business by targeting its dominance in online search.With this approach, the suit “strikes at the heart of Google’s grip over the internet for millions of American consumers, advertisers, small businesses and entrepreneurs beholden to an unlawful monopolist,” said Attorney General William Barr in a statement. Barr has been hands-on in the investigation, especially after antitrust chief Makan Delrahim recused himself due to prior work lobbying for Google’s acquisition of DoubleClick. However, despite speculation that Barr was rushing investigators to file suit ahead of the election, the Justice Department denied any political motives or that the probe was rushed on a call with reporters today.In the suit, the Justice Department outlined how Google used its search monopoly to build a powerful search advertising business—earning $40 billion annually in the U.S., according to the suit. Those revenues were …

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Joe Biden is on track to outspend Donald Trump on advertising in Ohio

joe biden is on track to outspend donald trump on advertising in ohio

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CLEVELAND, Ohio – After being on track at one point to outspend his opponent by more than four times on television, Republican President Donald Trump is now slated to spend less on advertising in the final weeks of the election in Ohio than Democratic former Vice President Joe Biden.That comes after the Trump campaign has canceled all but $2.8 million of its original purchase of more than $18 million from Labor Day through Election Day, according to figures from Columbus-based ad-buying and media consulting firm Medium Buying. The campaign has canceled its reserved ads every week since then. Biden, meanwhile, is scheduled to spend around $5.2 million, almost all of it coming between Oct. 6 and Nov. 3.It’s a drastic shift in resources with early voting having started and Election Day just two weeks away. And it’s a somewhat puzzling development given polling in the state has generally shown a toss-up race, with Trump and Biden alternating on who is in the lead.“It is staggering to think about how much money the Trump campaign had reserved and had planned in Ohio versus what they’re actually finishing with,” said Nick Everhart, founder of Medium Buying. “Not to mention being in the …

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20 Years Later, Actors Wrestle With Legacy of Divisive Six-Month Commercials Strike

20 years later, actors wrestle with legacy of divisive six-month commercials strike

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There are two big factions among the 160,000 members of SAG-AFTRA, and they have rarely, if ever, gotten along, even in the eight years since SAG and AFTRA merged into a single union. No event exemplifies the deep divide within SAG-AFTRA like the 2000 commercials strike, which lasted six months and ended 20 years ago this week.
William Daniels, the Emmy-winning actor known for “St. Elsewhere” and “Boy Meets World,” was the face of the strike as SAG president at the time. He was so bitter at enemies that emerged during the work stoppage that when his term ended in 2001 he vowed to never set foot again in SAG’s Wilshire Boulevard headquarters.
But in an interview last month with Variety, Daniels said he would do it all again if he could go back in time.

“Nobody cared about commercial actors and people who were not commercial actors did not have an understanding of their issues,” he said. “I would do it again. It was worthwhile. I was very glad when it was finished. And I made some great friends.”

Sara Kreiger, who served as a strike captain in New York, still has nothing good to say about the experience. She asserts that …

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Department of Justice sues Google over search and advertising monopoly, following year-long investigation

department of justice sues google over search and advertising monopoly, following year-long investigation

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Google is no stranger to legal trouble, but 2020 may be bringing the most pressure the company has faced yet. The US Justice Department has been investigating Google’s business practices for a while now, and we learned that a lawsuit was in the works last month. Today, the DOJ and eleven state attorneys filed an antitrust lawsuit against Google, accusing the company of anticompetitive behavior to maintain its monopoly.

This historic civil suit is the government’s largest legal challenge to a tech giant in recent memory. The 64-page lawsuit says that Google’s actions have harmed competitors and consumers. Specifically, the DOJ is taking issue with the way Google puts its own products like Search front and center on mobile devices with exclusivity agreements that prevent pre-installation of competing services.
Also under scrutiny is the company’s long-term agreement with Apple that requires Google to be the default search engine on apps like Safari. The lawsuit goes on to say there is an overarching problem of Google using its monopoly profits to buy “preferential treatment” for itself across devices, web browsers, and other search access points.
For its response, Google published a blog post calling the decisions “deeply flawed” and emphasizing that consumers …

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The Asian Retail Industry is Booming, Merxwire Launches Online Advertising and Social Impression Tools

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TipRanksOppenheimer: These 2 Stocks Could Double, If Not MoreIt’s the final countdown. With the U.S. Presidential election only two weeks away, election year stress is making the rounds on Wall Street, but one pro argues that regardless of the outcome, opportunity could emerge.Oppenheimer’s Chief Investment Strategist John Stoltzfus notes that in the last leg of the race to the White House, “the markets appear to be signaling that no matter how loud the rhetoric gets from either side and no matter which side wins, investment opportunity in some form is likely to prevail over risk beyond inauguration day in January 2021.” He added, “In our experience opportunity often arises from uncertainty while a perception of ‘certainty’ often breeds complacency.”As for Q3 earnings season, it’s already surprising to the upside. Although it’s still too early to tell how the season will play out, Stoltzfus says “so far so good.” Data from the past weekend shows 84% of companies that already reported have beat earnings expectations and 82% have exceeded revenue expectations for the quarter. Taking Stoltzfus’ outlook into consideration, Oppenheimer’s analysts are pounding the table on two under-the-radar stocks, noting that each could double or more in …

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