'Disney, Comcast Increase U.S. Ad spending On Instagram After Dropping Musk's X; Paramount, Meanwhile, Tripled Its Spending On Snapchat' - Reuters News
Portfolio Pulse from Benzinga Newsdesk
Major U.S. companies Walt Disney and Comcast have increased their advertising spending on Instagram, while Paramount has tripled its spending on Snapchat, following a pause in advertising on Elon Musk's social media platform X due to antisemitic content concerns. Sensor Tower data indicates Disney and Comcast raised their ad spending by 40% and 6% respectively. The shift in ad spending highlights the challenges Musk faces with advertisers leaving X, which has also experienced a 16% drop in monthly active users since Musk's acquisition.
December 13, 2023 | 6:16 pm
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Comcast raised its U.S. ad spending on Instagram by about 6% after pausing commercials on Musk's X, adapting to brand safety concerns.
Comcast's modest increase in Instagram ad spending suggests a cautious approach to reallocating its marketing budget, which is unlikely to have a direct short-term impact on its stock price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Disney increased its U.S. ad spending on Instagram by 40% after pausing ads on Musk's X, reflecting a strategic shift in marketing spend.
Disney's increased spending on Instagram could indicate a reallocation of its marketing budget, which may not have a significant short-term impact on its stock price but reflects a strategic marketing decision.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Paramount has tripled its ad spending on Snapchat, moving away from Musk's X amid a broader shift in social media marketing strategies.
Paramount's significant increase in Snapchat ad spending could be part of a larger strategic pivot in its marketing efforts, which may not immediately impact its stock price but indicates a shift in focus to platforms aligning with brand safety.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
Paramount's decision to triple its ad spending on Snapchat could be positive for the platform, indicating increased advertiser confidence.
The tripling of ad spending by Paramount on Snapchat is a strong endorsement of the platform and could lead to positive sentiment among investors in the short term, potentially driving up SNAP's stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80