Daily August 16

Some Web3 companies are experimenting with new ways to go beyond blockchain-savvy audiences to entertain, educate and sell physical products and experiences.

Additional coverage:

• While ad buyers said TikTok reps are generally pretty responsive and easy to work with, they will often get conflicting information, making it difficult to answer questions accurately for clients and execute for campaigns. This and more in the Digiday+ Marketing Briefing.
• Meta has invested billions of dollars in its metaverse platform Horizon in a bid to recreate the creator economies of communities such as Roblox and Fortnite Creative.
• In this video, Digiday senior media editor Tim Peterson breaks down the mechanics of how TikTok determines which videos qualify for a revenue split and relays insights from UM Worldwide’s Stacey Stewart on how TikTok Pulse’s tests with advertisers have fared so far.
• The New York Times, BuzzFeed, Gannett and IAC are identifying areas to cut costs, from marketing budgets to hiring slowdowns and layoffs.
• Iconic football team AC Milan has never been watched by more people. Here’s a look at the group’s strategy.
• Digiday spoke with leaders from Direct Digital, a small ad-tech company that runs sales-side platform Colossus SSP as well as demand-side platforms Huddled Masses and Orange 142, about how the economic slowdown has affected business, if they feel attention to diversity, equity and inclusion is waning, and more.
• Joy Robins’ role as The Washington Post’s CRO looks different than it did a year ago, but in a volatile economy, a media company’s revenue sources are subject to change as well. Robins touches on this and more in this episode of the Digiday Podcast.