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Hotwire Headlines #66

Hotwire Australia

Which industries are set to have the biggest growth in marketing spend?

In recent news, Elon Musk becomes the largest Twitter shareholder, overriding founder Jack Dorsey. Additionally, new research from Forrester uncovers that global marketing spend will grow by 30% by 2025, and Cision closes the acquisition of Streem.

Elon Musk grabs major stake in Twitter

Elon Musk has purchased 9% of Twitter, making him the largest shareholder of the social media platform.

The 73 million Twitter shares, valued at $2.9 billion on Friday, make Musk the largest shareholder, even more than founder Jack Dorsey.

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Marketing investment globally to grow 30% by 2025, says Forrester

Forrester’s new report, 2022 Marketing Investment Forecast shows a varied marketing spend chart depending on location as well as industry, predicting that global marketing spend will grow by 30% by 2025 to reach US$4.7 trillion, boosted by a mix of geographies and industries.

However, the study reveals that Australia’s annual growth contribution is toward the bottom of the forecast, at 3.2%. The report also explored industries with high marketing intensity supporting marketing spend across a subset of countries including Australia.

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Nine launches new ad-tech platform on 9Now

Nine has today signed an exclusive partnership with ad-tech/martech platform, AdGreetz, to introduce digital technology to 9Now to allow brands to personalise targeted advertising to viewers.

Named ‘Dynamic Ads’, the video creative optimisation product will help marketers automatically provide more tailored messaging to 9Now’s 12 million addressable users, with adverts served to the viewer based on their viewer profile, underpinned by Australia’s largest data footprint.

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Cision closes acquisition of Streem

Global communications intelligence company Cision has completed the acquisition of Australian realtime media monitoring company Streem.

Elgar Welch, CEO of Streem: “The closing of this deal gives us the opportunity to create the ANZ region’s leading media intelligence offering and Streem is now best positioned to deliver on every customer’s need through a single platform and local team.”

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Forrester Report: The Age of The Metaverse is Not Here Yet

A new report by Forrester shows that despite all the interest from around the world, we have not officially entered the age of the metaverse however, this hasn’t stopped companies from trying to stake their claim in it.

The study found that 34% of US online adults have expressed their excitement for what the metaverse will offer, making 76% of US B2C marketing executives plan to invest in metaverse-related activities this year.

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