Is Buddy Media the Zynga of Marketing?: There’s little doubt that Facebook is an enormous universe unto itself. After all, Zynga has built a gaming business worth up to $20 billion while getting substantially all of its revenue via the Facebook platform. Buddy Media clearly wants to be the Zynga of marketing. It has closed a whopping $54 million round of financing, which brings its total backing to date to $90 million. What’s more impressive is the round isn’t to cash out early investors and execs but will go directly into the business, giving it a valuation approaching $500 million. This is a pretty stunning figure for a company that helps businesses manage their Facebook pages. Buddy Media has an extensive client list that includes eight of the top 10 brands, and it plans to use the funding to expand into Europe. Buddy Media licenses software — and we’re not talking about Google here — to help brands connect with their customers on Facebook. It’s yet another sign that Madison Avenue is hopeless in finding new agency models. Why agency-holding companies weren’t able to build a business like this is mystifying. WPP at least plowed $5 million into Buddy Media’s last round. Buddy Media’s competitors include Vitrue and Context Optional.
Journalism in the Social Era: Forbes is busily overhauling itself for the digital age. The company is embarking on an interesting experiment to turn its website into a fully fledged social platform. Forbes’ chief product officer Lewis DVorkin explains its latest iteration on the article page in a post that describes the reporter as playing the role of programmer and curator by using Forbes’ tools to do things like create slideshows and related articles boxes. That might be a bit far. Still, it’s good to see an old-line publisher rethinking how it does business.
Quote of the Day: Eric Ries thinks startups too often focus on growing for the sake of growing. “Don’t be in a rush to get big, be in a rush to have a great product.”
Media Briefing: The case for and against monthly and annual subscriptions in the battle for retention
There are no one-size-fits-all solutions for improving retention in a subscriptions business. While annual subscribers might stick around longer for some, other publishers will have better luck with monthly plans.
Digiday+ Research: The economy will hit the media and marketing industries this year, but differently
The economy will plague both the media and marketing industries in 2023, but the hit will be uneven between publishers and agencies.
Podcast ad buyers have yet to see a slowdown
Ad buyers have yet to see clients cut their podcast budgets – though the time of podcasts as the shiny new medium may be coming to an end.
SponsoredWhy Best Buy Ads sees retail media as integral to its customer-centric purpose
Sponsored by Best Buy Ads Retail media networks have become critical for marketers, with retailers investing in ways that enable advertisers to engage consumers across online and offline channels. Given the wealth of retailers’ first-party customer data and measurement capabilities, retail media networks have become a natural fit for augmenting performance marketing programs. Alongside the […]
The programmatic open marketplace is faltering, but publishers see a bright spot in private programmatic deals
Publishers are coming to terms with their open programmatic marketplace RPMs being 20-55% lower than they were this time last year, but the hope is that programmatic guaranteed deals will make up the deficit.
Marketers weigh the cons of working with Google Ad Manager amid Justice Department’s new lawsuit
When is it time to back away?