The news continues to be dominated by the coronavirus—we focus on stories highlighting its effects on concerned businesses, and more
One of the world’s largest ad buyers plans to lower its forecast for global ad spending after it originally predicted a 4.3% increase for 2020. The decision to lower the prediction is a response to companies reducing their spending as concerns grow over how the coronavirus will affect consumer spending. Some travel companies have already started to reduce their ad spend.
Read more: The Wall Street Journal
Live events are getting canceled or postponed as companies decide to curtail nonessential trips in the wake of the coronavirus’ spread. Fox News canceled an upfront pitch to advertisers in New York, Disney called off a launch event in London to promote Disney+ and Google’s I/O conference for developers was called off. And while SXSW is still on, TikTok, Amazon Prime, Facebook and others have pulled out.
Read more: The Hollywood Reporter
Google and Facebook ads that include language associated with the LGBT+ community—such as “lesbian,” “bisexual” and “drag queens”—are encountering issues in avoiding online censors. Online ads that use those terms are being labeled as “brand unsafe” at a disproportionate rate as compared to sexually or violently explicit lingo, which means a significant loss of ad sales and brand reach. Many of these brands have turned to alternatives outlets for advertising, including the new media outlet Brand Advance, and incorporated more LGBT+ positive messaging.
Read more: The Drum
The meatless trend in dining hits outside the bun. While Taco Bell has always been regarded as a vegetarian-friendly fast food choice for its ease in substituting beans or potatoes for its meat, the company is more publicly promoting this option. Its in-store kiosks will now allow diners to easily swipe to “Veggie Mode,” which pushes a 50-plus item menu to the foreground. This not only saves vegetarians time in scanning the full menu for the correct options but allows Taco Bell to easily slip new items into its selection without overwhelming the full list. Taco Bell also announced a vegan, plant-based menu is forthcoming.
Read more: Fast Company
Should the coronavirus outbreak worsen and extend beyond community to worldwide spread, a trickle down effect could contribute to a modest slowdown in healthcare marketing. Curtailed corporate travel and major conference cancellations portend a loss of millions in sponsorship, hospitality and product revenue. But some experts are optimistic about the industry’s ability to adapt.
Read more: MM&M