Cox Enterprises Acquires Axios Media Inc.
Cox Enterprises announced the acquisition of Axios Media Inc., a company dedicated to delivering vital, trustworthy news and analysis in the most efficient ways possible. Cox Enterprises has a long history in media and is committed to scaling and expanding Axios into more cities, covering more national topics and more premium niches for professionals. This acquisition follows a previous investment by Cox Enterprises in the fall of 2021 and is part of Cox’s ongoing goal to grow and diversify the company.
“With so much happening in the world, Axios plays a critical role in delivering balanced, trusted news that people need,” said Cox Enterprises Chairman and CEO Alfie Taylor, who will join the Axios board. “Our company started in the media business, and we have always had a passion for journalism. Bringing a forward-thinking organization like Axios into Cox Enterprises is exciting for us on many levels, and we look forward to helping them continue to scale and grow.”
Ad Publishers’ $10 Billion Problem
The US advertising market is being dragged by the ear into a new, more privacy-focused era. Thanks to regulatory scrutiny in Europe and the US, the market’s largest players—particularly Google and Apple—are making it harder for third-party firms to surveil the browsing behavior of internet users, chiefly by ending support for third-party identifiers and requiring users to consent to being tracked online.
These changes have significant implications for how and where advertisers deploy their digital ad budgets, and as much as $10 billion of publisher ad revenues are at risk, according to a January 2022 Interactive Advertising Bureau (IAB) study.
- US programmatic advertising faces some of the greatest possible disruption from these changes.
- Removing third-party data will increase costs for marketers and publishers.
- Those increased costs pose an especially grave threat to the open web, a key revenue source for thousands of publishers.
- Rather than eat the increased targeting and measurement costs, many advertisers will spend that money in walled gardens instead.
Lyft Creates Media Division To Cash In On In-Car Ads
Lyft has created a new business unit to beef up its digital advertising business across its tablets, mobile app, rooftops and bicycles, producing the potential to add billions of dollars to its bottom line. The ride-hailing company announced on its blog Monday that Lyft Media will help cash in on the growing market for in-vehicle digital ads, as cars become more connected and begin to feature multiple, larger infotainment screens. The announcement comes days after Lyft and its biggest competitor, Uber, announced robust second-quarter financial results.
Both face increasing competition for location-based advertising. Uber, which entered the ad business in 2019 via its UberEats app before rolling out ads across its rooftops and ride-hailing app, said its advertising business could reach $1 billion in revenue by 2024.
More and more companies are looking to add AI/ML into their products. That’s why G-Core Labs & Graphcore have launched global AI Infrastructure as a service.
News/Media Alliance Sends Letter To USPS Board Of Governors On Critical Entry Time Proposed Change
The News/Media Alliance sent a letter to the United States Postal Service Board of Governors on Friday before their next scheduled meeting on Tuesday, August 9 to discuss a proposed change in Periodicals Critical Entry Times (CETs). The Postal Service filed a request at the Postal Regulatory Commission (PRC) on April 22 to change CETs for Periodicals mail to 8 am. Periodical mailings currently have as many as five different CETs, depending on the nature of the mailing and the facility.
The Alliance and MPA previously filed comments with the PRC asserting: (1) that the Postal Service’s proposal requires that it seek an advisory opinion from the PRC prior to implementation; and (2) that the proposal will harm publishers who must meet tight production, printing, and delivery schedules. While the PRC agreed with us and has ordered the Postal Service to request an advisory opinion before implementing its proposed CET modifications, the ultimate implementation decision lies with the Postal Service itself. The Alliance will continue to keep you apprised.
Political Ad Spending For Midterms Is Set To Hit Record $9 Billion
Political ad spending in the 2022 midterms has already broken a record for off-year congressional elections and is set to plow through the all-time high of $9 billion spent on the 2020 presidential contest.
Money spent on broadcast, cable, streaming and digital platforms to sway voters ahead of November elections is on track to more than double this year to $9.7 billion from what was spent on the 2018 midterms, according to a projection by AdImpact, a firm that tracks political advertising spending.
It’s rare for money spent on off-year elections to exceed that of presidential elections. But the billions already spent in 2022 shows the magnitude — and the stakes — of a November contest that will decide control of Congress. Democrats have a razor-thin majority with the US Senate deadlocked at 50-50. Vice President Kamala Harris wields the deciding vote.