Jul 30th, 2021
The $150-billion global advertising industry is looking for answers during a shakeup that has cable television charting a course emblematic of the Golden Age of Radio a century ago. Owing to the confluence of cord cutters, DVRs allowing people to skip commercials and an off-year for elections among other things, local TV ad revenue has been sinking in 2021. Now more than ever, brands are forced to keenly monitor marketing trends and adjust strategies that increasingly point toward digital solutions to reach consumers. Working with content creators and influencers, those people (and things) on social media with a large or specific group of followers that can be swayed into purchases by compelling messaging, appears to be particularly effective. By now, most people are aware of marketing via a personality, such as Kim Kardashian who can influence her followers to try a particular product. While that still has its place, the market is far more evolved and sophisticated today, with companies such as Clubhouse Media Group Inc. (OTC: CMGR) (Profile) aggregating an impressive collection of influencers and content creators with hundreds of millions of followers and combining that community with technology as a platform for collaboration and creation. That type of dynamic is a win-win for advertisers and the world’s most popular social media apps and sites, including Facebook Inc. (NASDAQ: FB), Pinterest Inc. Class A (NYSE: PINS), Snap Inc. Class A (NYSE: SNAP) and Twitter Inc. (NYSE: TWTR).