Lab Weekly - 05/05/2023
Social media confronts existential threats and morale crisis; plus, the latest news on Bing Chat AI, new shoppable TV ads on Peacock, along with some cool stats to know
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Social Media In Flux: Existential Threats and Generative AI’s Impact
Key questions about the future of social media that brand marketers should keep a close eye on
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A New Era of Branded Blockbusters Is Upon Us
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What Brands Need to Know from Snap Partner Summit 2023
Snapchat maker explores new frontiers in live events and generative AI while doubling down on local discovery and AR commerce
Microsoft Opens Bing Chat To All & Adds New Features [The Verge]
The accessibility of generative AI reached a new level on Thursday, as Microsoft announced it is opening ChatGPT-powered Bing Chat AI to all users. Access is still confined to the Edge browser and Bing mobile app at the moment, but it is no longer confined to only those who had previously joined the private beta test via a waitlist.
In addition, Microsoft has introduced some useful new features to Bing Chat, including image and video results, new Bing and Edge Actions feature, persistent chat and history, and plug-in support. The plug-in support, which mirrors OpenAI’s recent launch of its pilot versions of ChatGPT plugins, will be a key addition for developers, as it would allow more companies to build unique plug-ins atop Bing’s AI capabilities and turn Bing’s AI-powered search into a new lead generation channel. The Actions feature is also worth mentioning as it would allow Bing to directly open links to music or video on select streaming sites as part of its answers.
Related: TikTok is testing an in-app tool that creates generative AI avatars [TechCrunch]; The White House announces plans to combat AI's risks [NYT]; Slack GPT will summarize conversations, transcribe huddles, and more [Mashable]
NBCU Launches Shoppable Ads On Peacock [AdAge]
As media companies ramp up their ad products to make up for the relatively thin profit margins of streaming services, some have smartly resorted to replicating the type of shoppable ad units that has become popular on social media on connected TVs. NBCU recently launched a new feature on its streaming service Peacock called “Must ShopTV,” which will allow viewers to purchase products that are featured in Peacock shows and movies, visible even for subscribers of its premium, ad-free tier. The capability is powered by KERV Interactive and utilizes an algorithm trained to identify shoppable products.
NBCU says in the future, this feature will log payment information for immediate purchase through TV remotes, potentially removing a major source of friction. For now, however, it is still done as a second-screen shopping experience redirected with a QR code, similar to Hulu’s shoppable ad unit and the Walmart-Roku ad offers. In comparison, however, this ad product promises greater contextual relevancy to viewers as it promotes products that are shown in the content itself — for example, the kitchenware featured in a Top Chef episode or an evening gown worn by one of the Real Housewives — which would lend itself well to a new type of product placement deals.
Related: Instacart partners with Roku to better measure streaming TV ads [ModernRetail]; Netflix’s ad-supported plan is getting better resolution at no extra cost [The Verge]
DraftKings Plans Streaming Video Service With Sports Podcasts [Bloomberg]
As a sign of the convergence of sports betting and media, DraftKings has announced plans to turn the sports podcasts it already sponsors into video content, which will be made available to stream via its own streaming service called DK Network. Sources say the service is expected to be free and supported by advertising. No words on whether the Boston-based sports betting firm will be investing in video content outside podcast recordings. Nevertheless, it marks yet another familiar digital platform launching ad-supported products and joining the growing list of middle-class media platforms we outlined in the Outlook report.
Related: Fintech firm Klarna overhauls its app with a TikTok-like discovery feed [CNBC]; Spotify will open Gimlet podcasts to other platforms [Semafor]
The Super Mario Bros. Movie crossed $1 billion globally at the box office, Variety reports. becoming the first to do so in 2023 and the most financially successful video game movie yet.
Shopify reports Q1 revenue up 25% YoY to $1.5 billion, beating analyst estimates. Still, the company plans to cut 20% of its staff as part of the larger company restructuring that includes off-loading its logistics business to Flexport, Bloomsberg reports.
Apple Card Savings Account debuted two weeks ago, and it seems to be off to a hot start. A new report from Forbes on Monday says that Apple Card Savings Account attracted nearly $1 billion in deposits in just the first four days.
Paramount+ gained 4.1 million new subscribers in Q1 2023, bringing the total to 60 million paid subscribers, as the streaming service prepares to integrate with Showtime, Paramount shared in its latest earnings report, TechCrunch reports, Meanwhile, Pluto TV, Paramount’s free ad-supported streaming service, reached 80 million monthly active users, compared to 78.5 million in the previous quarter.
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