Insider Daily Brief for July 6th, 2023
ByeBye MediaMath, Andy Murray's Hip, Clive Punter On OOH3.0, Nigerian Agency Breaks 70-Year Cannes Jinx, Cities Measuring Growth, Retail Media, Markets, International, And More.
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The following is the email that was sent to partners –
I am reaching out today to share an important update on our business.
As you may have already heard in the news, MediaMath has been exploring strategic alternative options for the past several months. This included securing additional financing and/or merger or sale of the company. Unfortunately, due to the changing and uncertain economic environment, and the rapid increase in interest rates, we were unable to secure this planned capital infusion. This led to negotiations with several prospective buyers as we pursued a sale transaction.
Despite our best efforts, the deal we expected to be consummated this week fell through yesterday. We are left with the inability to continue operating the Company in a normal course of business. Accordingly, we are required to wind down our business immediately.
Today will be most employees last day.
As of June 30, access to the platform will no longer be available. We are working diligently to minimize business impacts and regret any inconveniences caused by this announcement. We intend to work with you to address your concerns and any outstanding obligations as needed.
We value our relationship with you and had hoped to work with you for many years to come. As a team, we are deeply disappointed we cannot continue to partner with you and your business.
There will be a small group helping wind down the company, please reach out to [email protected] with any questions.
“Andy Murray enters the Wimbledon lists this week and his fans will be hoping the (oldish) body stands up – he’s had so much surgery he probably rattles.
It’s clearly an opportunity for his sports brand Castore and agency FCB has taken the pelvis by the horns in this off-the-wall Out of Home campaign (there are lots of other sports too), featuring his troublesome hip.”
Today marks the launch of our Summer of Sport campaign for new client Castore. The hero creative features Andy Murray’s hip X-ray and can be found running across sites in London, Earlsfield, and Wimbledon, the home of British Tennis. Because #BetterNeverStops.
— FCB London (@FCBLDN)
Jul 3, 2023
From Outfront CRO, Clive Punter 👇
“One of the leading creative agencies in Nigeria, X3M Ideas Group mounted the podium to receive the award for the public health advocacy, tagged ‘Scout Life Expectancy’, done to address the challenge of soot in the oil-rich city, Port Harcourt, Nigeria.” 🏆
“Visitors to the park grew by 71.5% between 2019 and 2023, with weekend visits rising to around 21% in 2022 (compared to about 17% four years previously). The result “demonstrates the transformative power of community-driven initiatives and the unique opportunities they can create for local communities”.
According to the report, marketers saw retail media networks as a locus of new opportunities to engage audiences and glean valuable insights. Per the survey findings:
Seventy percent of advertisers believe retail media networks will likely increase customer engagement and sales for retailers.
Sixty-five percent of retailers think that retail media can provide them with expanded revenue opportunities for advertising and sponsorship.
Fifty-six percent of retailers see retail media as a significant source of first-party data to support a user experience personalization strategy.
Forty-five percent of retailers believe building the employment of retail media will be first-party data as third-party cookies become obsolete.
Strong signals from the growing Indian OOH market.
Roadside DOOH (Digital Out-of-Home) media is gaining popularity in India as municipal bodies ease norms for the installation and operation of digital screens.
The revenue contribution from roadside DOOH has increased to 20%.
Challenges include the need to strengthen the hardware solution provider industry in India and the continuous investment required for maintenance and operations.
Civic bodies have started recognizing the benefits of digital billboards for transforming city outlook, earning additional revenue, and communicating critical messaging.
The Indian DOOH market shows promise for growth in non-metro markets.
Three great roles all calling for OOH experience, check them out:
One month is officially in the books. A month ago, AdScout didn’t exist.
Today? More than 150 companies listed 👋
52 of those verified and claimed ☑
And in that month's timespan?
655 Unique Visitors have visited TryAdScout.com racking up 3,403 individual page views.
That’s 20+ people a day checking out 3-4 companies each time they visit.
That is a lot of discovery taking place today that could not take place 30 days ago.
Oh! And eight, 5-star reviews ⭐⭐⭐⭐⭐
Top 5 Most Viewed (June)
Out of Home Creative (OOHC)
LED Truck Media
Who will be July’s most viewed company in OOH? Stay tuned.