The Eras Tour in Sao Paulo, Brazil.
Our Taylor Swift reporter curated sights and sounds from last night’s Eras Tour show in Sao Paulo, Brazil.
SÃO PAULO REPUTOU! 🐍 #SaoPauloTSTheErasTour pic.twitter.com/isxi78kS48
— Taylor Swift Brasil (@taylorswiftbr) November 24, 2023
Taylor Swift anunciou durante seu show no Allianz Parque que quebrou o recorde de MAIOR público no estádio, em São Paulo. pic.twitter.com/5XBOLDVv8O
— PAN (@forumpandlr) November 24, 2023
X May Lose Up to $75 Million in Revenue as More Advertisers Pull Out.
X, the social media company formerly known as Twitter, could lose as much as $75 million in advertising revenue by the end of the year as dozens of major brands pause their marketing campaigns after its owner, Elon Musk, endorsed an antisemitic conspiracy theory this month.
Internal documents viewed by The New York Times this week show that the company is in a more difficult position than previously known and that concerns about Mr. Musk and the platform have spread far beyond companies including IBM, Apple and Disney, which paused their advertising campaigns on X last week. The documents list more than 200 ad units of companies from the likes of Airbnb, Amazon, Coca-Cola and Microsoft, many of which have halted or are considering pausing their ads on the social network. [NY Times]
NFL’s Black Friday game is the latest warning sign for traditional TV.
The NFL’s decision to start a new Thanksgiving tradition with a streaming platform instead of a broadcast or cable channel is yet another indicator of trouble for linear, or traditional, TV, which has suffered from slumping ad revenue and customers cutting the cable cord. [CNBC]
TikTok Fuels Music Discovery.
A report was commissioned by TikTok and created by Luminate, with use of their industry-leading music consumption data and audience insights. The report sets out to consider the impact that TikTok and its users have on the music industry in terms of music discovery, consumption, and contribution to industry revenues.
The report’s key findings include:
TikTok Fuels Music Discovery
- Globally, TikTok users are significantly more likely to discover AND share new music content on social or short-form video (SFV) platforms than the average user of social or SFV platforms
- In the US, TikTok users are TWICE as likely to discover music on SFV platforms than the average user of SFV or social media platforms
TikTok Users Generate Value via Streaming
- Globally, TikTok users are significantly more likely to use a paid music streaming service than the average consumer
- In the US, 62% of TikTok users pay for a music streaming service, compared to 43% of consumers overall.
- Globally, engagement with an artist‘s music on TikTok is strongly correlated with streaming volumes.
TikTok Users Generate Value Off-Platform
- Globally, TikTok users spend significantly more money across music-related categories compared to the average music listener across all markets analyzed
- In the UK, TikTok users spend 49% more on music purchases compared to average listeners
- In the US, 38% of TikTok users attended a live music event and 45% purchased artist merchandise in the past 12 months, compared to 33% and 35% of overall music listeners, respectively.
‘A lot quieter’ Black Friday brings out discount hunters.
Shoppers took to stores across the world on a Black Friday that appeared subdued compared with prior years, looking for discounted electronics, clothing and household goods in the kickoff to the holiday shopping season crucial to big retailers.
Brokerage TD Cowen lowered its U.S. holiday spending estimate to 2% to 3% growth, from 4% to 5%, as it forecast flat Black Friday traffic. Discounts in October and November removed the excitement and urgency of Black Friday.
With many consumers squeezed by persistent inflation and high interest rates, U.S. holiday spending is expected to rise at the slowest pace in five years. Most major retailers slashed their seasonal hiring. Retailers will likely continue to discount throughout the season to avoid inventory gluts at yearend. [Reuters]
