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In recent news, reports show that more than 50% of TikTok users have purchased a product promoted on the platform, Snapchat brings to life Louis Vuitton and Yayoi Kusama collection through AR and Twitter rolls out search keyword ads to all advertisers in a beta test. We also explore, recent statistics of metro commercial radio growth in 2022 and the powers ACMA will receive to combat misinformation under a new legislation.
More than half ok TikTokers have purchased a product promoted on the platform
A huge 56% of TikTokers have purchased a product promoted on the platform and 92% are purchase-ready.
The data comes from a new M&C Saatchi Performance study which gives some startling insights on the platform’s effectiveness for advertising.
The average user spends almost 90 minutes per day watching TikTok content and 56 per cent of users are online more than once per day. What’s more, more than half of users say they favour the platform for discovery above all others, with 62 per cent of Zoomers listing it as their favourite discovery platform. Just 8 per cent of Zoomers choose Google as their favourite.
Snapchat introduces Louis Vuitton and Yayoi Kusama collection to life through AR
Japanese contemporary artist, Kusama, has her signature painted dots across iconic monuments around the world including the Eiffel Tower in Paris, Statue of Liberty in New York City and Tower Bridge in London.
Snapchat’s Landmarker Tech was created in 2019, utilising 30 beloved sites around the world allowing creators to build designs suited for AR. Following the creation of Landmarker Tech, Local Lenses was introduced in 2020, allowing users to splash AR paint across the buildings of London’s Carnaby Street.
Twitter rolls out search keyword ads to all advertisers in beta test
Twitter has launched Search Keywords Ads, a new conversion campaign objective in the Twitter Ads interface.
The new tool will allow users to promote sponsored tweets to appear at the top of search results for specific keywords. This should allow advertisers to reach a wider audience, as well as one with a higher intent than those that just see ads in the home feed.
As with other promoted tweets, these new search ads will be labelled as “promoted” to avoid any confusion.
Metro commercial radio 5% ad revenue growth in 2022
Australia’s metropolitan commercial radio networks reported a 5% increase to $701.402 million in advertising revenue in 2022, according to industry body Commercial Radio & Audio.
Melbourne stations led the revenue gains with 8.1% growth in calendar year 2022, while Sydney increased by 7.7%. Perth rose 2.2%, Adelaide 1.8% and Brisbane 0.1%.
CRA CEO Ford Ennals said: “Radio has benefited from strength across a broad range of business sectors and the return to cars, with revenue ending the calendar year five percent higher than 2021 and 23% above levels in 2020.
ACMA to receive new powers against misinformation under new legislation
The Australian Communications and Media Authority (ACMA) will soon have new jurisdiction in its oversight of digital platforms to combat misinformation and disinformation.
In a bid to create “transparency around efforts by digital platforms to respond to misinformation and disinformation”, the Federal Government is giving information-gather and record-keeping power to the media watchdog.
Under the new legislation, ACMA can also register an enforceable industry code and make a standard, should self-regulatory codes fail to address threats posed by misinformation and disinformation.