A memorable November has come to a close, bringing us into the home stretch of the year 2020.
The election sparked huge audience growth numbers for most media websites and broadcast channels as users impatiently followed state by state updates. When inaugurated on January 20th, Joseph Biden will become the 46th President of the United States. The latest president with Irish roots, Biden’s great-great grandfather Patrick Blewitt was born in Ballina, County Mayo.
Also in Ireland, the annual Late Late Toy Show (first broadcast in 1975) turned a phenomenal 79% TV audience share into a massive charitable haul over the course of its two hour broadcast. A record 6.5m Euros were raised and will be donated to bring toys to sick and needy children in Ireland and abroad. John and Patrick Collison (Stripe) also donated a generous $100k each to the cause.
On this side of the pond:
Amazon announced its foray into the pharmacy business.
As a number of major media companies merge to survive, others are going independent for the same reason.
Twitter launched “fleets” - their version of “stories” - because who didn’t need yet another social media story in their lives?
I hope you all had a great holiday, and now on to the news from November!
1. Amazon Launch Pharmacy
Amazon's new online pharmacy lets users buy and refill their medications on their phones or other devices and have deliveries on their doorsteps in a couple of days.
Amazon’s entry into the pharmacy business has the potential to shake up the industry - a familiar story to everyone from book sellers to toy stores to grocers.
Two years ago, Amazon spent $750 million to buy online pharmacy PillPack, which organizes medication in dosage packets by time and day.
Shares of drugstore chains sank in pre-market trading, with CVS dropping about 9% and Walgreens slumping 12%. Amazon shares rose 2.6%.
The Big Picture:
Prime members will now have the ability to order medication, compare prices and get two day delivery - and even have the ability to purchase medication up to 80% off. Amazon’s move into this new industry will demand the attention of consumers and competitors alike.
2. How TikTok and Shopify are Fueling Shoppable Videos
TikTok and Shopify have partnered to help more than one million merchants drive sales via highly engaged audiences by tapping into TikTok’s global scale.
Earlier this year, TikTok launched a $200 million creator fund which pays content generators above a threshold of followers and views.
Beyond launching ads, merchants can use the software to target specific audiences and track ad performance for optimization purposes.
The Big Picture:
This partnership is the latest example of the growing social commerce movement, a trend that has been accelerated by the coronavirus. As physical stores closed in 2020 and diverted massive traffic to online destinations, platforms spanning Facebook, Instagram, and Pinterest rushed to update their shopping features. Mobile apps are the new shopping malls of the internet.
3. Quartz becomes Independent - Again
Quartz is becoming an independent media company again. Quartz was purchased for $86M two years ago by Uzabase, a publicly traded company based in Tokyo.
Quartz’s total revenue dropped from $34.8 million in 2018 to 26.9 million in 2019
Fallout from the pandemic led Quartz to lay off half its staff while losing half of its advertising revenue.
Quartz’s membership product is unique. Unlike a trade publisher rooted in a single industry, Quartz’s readers focus on macro trends and niche areas like climate tech and the podcast industry.
The Big Picture:
Surviving the pandemic is increasingly difficult for publications that are heavily reliant on their subscription and advertising businesses. Without deep pockets and strong investments, mergers and acquisitions will be a more commonplace survival tactic.
4. Huff Po + Buzzfeed Merge
BuzzFeed has agreed to buy HuffPost, uniting two significant players in the latest example of consolidation in the digital media sector. The acquisition is part of a larger deal between Verizon Media, HuffPost’s owner, and BuzzFeed, with the media arm of the telecoms giant taking on a minority stake in BuzzFeed.
News comes after both companies made deep cuts due to falling advertising revenues
The two companies were once seen as “disruptors” on the traditional media landscape, but they have struggled as Facebook and Google swallowed up ever larger shares of online advertising.
Verizon bought HuffPost as part of its $4.4bn takeover of AOL, its former owner, in 2015.
The Big Picture:
Once seen as competitors to mainstream NYTimes and WaPo for audiences and advertising dollars, both companies have struggled mainly due to their overreliance on revenue from advertising and branded content. This merger seems like more of a strategic cost savings move than a long-term vision.
5. Twitter Launches Fleets
Company research has shown that many users are too intimidated to post or engage with others on the service, which has led to an effort to find new ways to spark interaction.
Twitter enters the ephemeral posting game with some real advantages on its side.
The format is familiar — if you’ve posted an Instagram story, you already know how to post a fleet.
The real-time nature of Twitter lends itself to documenting photos and videos in the moment — an area where fleets excel.
Tweets had already been thought of as ephemeral in nature. The old joke about Twitter was that it was a platform to discuss what you had for breakfast. Now fleets are here, and there’s never been a better place to post your bowl of Cheerios.
Another way to structure conversations is to set boundaries around who can participate. Twitter is approaching the rollout of Clubhouse-style new audio chat rooms inside the app, called “Spaces,” which are due to begin testing later this year.
The Big Picture:
Twitter’s clubhouse-style audio chat rooms could provide the company a head start on competitors who continue to focus on adding new features to their stories products. Personally, I use Instagram for a stories-type experience. LinkedIn, Twitter and the others just feel late to the game, but I can understand the business reasons behind the rollouts.
JOBS IN MY NETWORK
For anyone qualified and looking for referrals, recommendations, introductions for any of the below roles I am happy to help.
Time.com - Digital GM
TBrand Studio - Front End Developer
NYTimes - IOS Developer, Audio
Stir - Head of Drops
If you would like to have your open role(s) featured in next months newsletter, please get in touch.
WHAT TO PLAY
As a recent customer I love this device, capabilities and potential. Some of the games/experiences I enjoy:
Top Golf - Putting around numerous courses, challenge friends.
PokerStarsVR - Multiplayer poker and blackjack games.
Big Screen VR - Private movie theater to host and watch with friends.
AltSpaceVR - Amazing creative spaces to connect with like-minded people.
I purchased the 64GB version for $299, your welcome to go big if needed also. My name is “Irishkop” so feel free to add me for a virtual chat or game!
Thanks for reading, please share your comments and suggestions.
JOBS IN MY NETWORK
For anyone qualified and looking for referrals, recommendations, introductions for any of the below roles I am happy to help.
Dow Jones - UX Designer, Inclusive Product Design
Wirecutter - Director of Engineering
If you would like to have your open role(s) featured in next months newsletter, please get in touch.