hmdl: Google leads in ad spend; X grows users; Spotify introduces podcast comments; Dr Pepper overtakes Pepsi

Google remains the top destination for ad spend

The DL: Google is expected to dominate the traditional search ad market, capturing 70.5% of US ad spend by 2026. In 2024, Google's search ad revenue is forecasted to reach $62.87 billion, significantly outpacing Microsoft's. Generative AI is seen as a major influence on search engine companies, with 71% of adults globally anticipating a substantial impact. Google and Meta are integrating AI into their platforms, and 61% of Gen Z are already favoring AI tools over traditional search engines.

Read More: EMARKETER

X Claims Increases in Users and Engagement

The DL: X (formerly Twitter) has shared new usage statistics to attract more advertisers, claiming user growth despite contrary reports. According to X, it now has 570 million monthly users, a 6% year-over-year increase, and 8.2 billion daily video views, up 45%. However, the daily active user count remains at 250 million, unchanged since November 2022. Discrepancies in reported user engagement metrics raise doubts about the accuracy of X's data, with cumulative user seconds and daily user minutes showing significant declines. These inconsistencies, along with inflated video view figures, make it challenging to trust X's claims and assess its performance accurately.

Read More: Social Media Today

Spotify Adds Podcast Comments

The DL: Spotify has introduced a new feature allowing users to comment on podcasts, aiming to increase user interaction and compete directly with YouTube. This enhancement is expected to elevate the engagement level on the platform and keep users talking about podcasts on page rather than outsourcing their conversation elsewhere. For advertisers, this means more opportunities to reach an active and involved audience through targeted ads within a more interactive environment.

Read More: TechCrunch

Dr Pepper Steals the No. 2 Soft Drink Spot from Pepsi

The DL: Dr Pepper has achieved the unthinkable, surpassing Pepsi to become America’s second-favorite soft drink, just behind Coca-Cola. Over the past few years, Pepsi has shifted its priorities to diversify its beverage portfolio in anticipation of changing consumer preferences, particularly a move away from sugary sodas. This strategic pivot created an opportunity for Dr Pepper, which capitalized on its unique flavor and quirky branding to captivate younger consumers. For marketers, the key takeaway is the power of niche appeal and distinct branding in capturing and retaining market share, even against industry giants.

Read More: Adweek

What's the Download at hm?

Our clients are growing! WellSpan Health has expanded its network by integrating Evangelical Community Hospital, adding over 1,900 staff and increasing its reach to serve more than 1.3 million patients across 12 counties. And, last week, they broke ground on WellSpan Newberry Hospital in York County, one of three small-format hospitals designed to bring convenient, expert care to local neighborhoods.

We are proud to work with WellSpan to help grow their impact and serve more patients!

We are always up for a chat on our favorite topic: media! So, if you would like to brainstorm on how to navigate the ever-changing media landscape, we'd be happy to connect.

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