for the Digiday Programmatic Marketing Summit, May 6-8 in Palm Springs.
Kik’s making its own currency.
On Thursday, the messenger platform that claims to have 15 million monthly active users (57 percent of whom are aged 13 to 24), launched Kin, a currency of its own that will let users earn and buy things from inside the app.
“It is becoming increasingly difficult for companies in our space to continue to differentiate through innovation,” said Erin Clift, chief marketing officer of the Waterloo, Canada-based company. Although Kik’s user base pales in comparison is small compared to its competitors — WeChat had 889 million monthly active users last year, while as of March of this year, Facebook had 1.9 billion monthly active users — Kik said it hopes it will break the dominance of established players by creating its own payments ecosystem.
More in Marketing
Puma’s AI head says the brand is still giving ‘the keys to the consumer’ as it invests in digital concierge
Puma , this month, debuted a new AI-powered “digital human” concierge named “Dylan” in its Las Vegas flagship.
The Rundown: Q1 dealmaking cools across ad tech and martech as AI remains the hottest ticket
LUMA Partners’ Q1 report notes the drag that macroeconomic uncertainty has had on dealmaking.
‘Everything is coming down’: ChatGPT ads are getting cheaper
While the pilot CPM started out at $60, advertisers are now seeing that price drop to as low as $25, just nine weeks into the test.