Media and marketing news include Informa's majority stake acquisition of TechTarget and the implications of 'focused scaling' for B2B. Apple's podcast download system overhaul causes panic among podcast leaders, affecting their download numbers. The launch of OpenAI's Chat GPTeams is highlighted. Rants and raves cover Reddit's court victory over WallStreetBets and a marketing mistake at Solo brands.
The importance of considering trademark usage when building communities or creating new brands, as demonstrated by the successful defense of Reddit's ownership of the Wall Street Bets trademark in a recent lawsuit.
The need for aligning goals and objectives in marketing campaigns and establishing a connection between brand awareness and sales efforts, highlighted by Solo Brands' failed brand awareness campaign that did not lead to an immediate increase in sales.
Deep dives
Reddit wins lawsuit over Wall Street Bets trademark
In a recent lawsuit, Reddit successfully defended its ownership of the Wall Street Bets trademark. The founder of the subreddit, Jamie Rogazinsky, sought to trademark the name but was challenged by Reddit. The court ultimately ruled in favor of Reddit, stating that there was no prior usage of Wall Street Bets before the creation of the subreddit. This case serves as an important reminder for content creators to consider trademark usage when building communities or creating new brands.
Solo Brands' Failed Marketing Campaign
Solo Brands, in collaboration with Snoop Dogg, launched a brand awareness campaign to promote their smokeless stove. The campaign went viral, receiving millions of likes, comments, and shares on social media. However, Solo Brands deemed the campaign a failure because it did not lead to an immediate increase in sales. The company replaced its CEO and blamed the marketing investments for negatively impacting their revenue. The key lesson here is the importance of aligning goals and objectives in marketing campaigns, as well as ensuring a connection between brand awareness and sales efforts.
Apple's New Podcast Reporting
Apple quietly changed its reporting method for podcast listens, disabling automatic downloads for users who haven't listened to five episodes of a show within two weeks. This change resulted in significant drops in official listener numbers for some of the biggest podcasts, especially long-running shows that published frequently. While the shift may be beneficial for listeners and storage space, podcasters are facing challenges with this updated reporting method, as it affects their sales metrics and negotiations with advertisers. This emphasizes the need to establish clear goals and metrics for marketing efforts, and to understand the long-term effects of reporting changes.