In today's ExchangeWire news digest: AMC Networks reveals its programmatic ad buying capabilities; Meta reports strong revenue growth for Q3 but warns of "volatility" to come; and Shein and Temu call for an end to their legal battles in the US.
AMC Networks launches programmatic ad buying for TV
AMC Networks has announced it has launched programmatic ad buying on three of its linear TV outlets. The new feature, which was piloted last month, will allow live, linear ad inventory to be purchased programmatically. Evan Adlman, executive VP of commercial sales & revenue operations for AMC Networks, said the new offering will give advertisers "the ability to reach an incremental audience on linear in a unified campaign”.
Meta warns of uncertainty despite strong Q3 results
Meta has warned it expects lower advertising demand and economic uncertainty will continue to the end of the year, despite a positive Q3 for the company. Meta reported revenue of USD$34.15bn (~£28.21bn) for Q3 2023, an increase of 23% from the previous year. Net income for the Instagram-parent was also strong, having more than doubled to USD$11.58bn (~£9.74bn) for the same period.
Temu and Shein call a truce in the US
E-commerce giants Shein and Temu have both applied to end their legal fights in the US. Shein filed a lawsuit against Temu in Chicago last December, accusing its rival of using fake social media accounts to trick consumers into downloading its app. Temu retaliated this July, filing a lawsuit in Boston which accused Shein of violating US antitrust laws. Lawyers representing the companies filed joint declarations in both US states, requesting the two legal cases be dropped "without prejudice" by their respective judges.
New on ExchangeWire
Can Data-driven TV Reach Audiences at Scale?
Go Beyond Video: Why In-Game Advertising Grabs More Users Attention
How Brands are Personalising the Consumer Journey in Modern Marketing
PressBox Digest
Equativ Integrates NinaData’s Generative AI Audiences to Enhance Consumer Buying Intent Prediction
Sharethrough Launches ‘Net Zero Publisher Programme’ with Support from IPG Mediabrands
Want to see your latest press releases featured on ExchangeWire? Email info@exchangewire.com to find out more about our PressBox service.
Fact of the Day
USD$66bn (~£54.5bn) – Shein's valuation, as of June 2023.
Source: Reuters
Last Week's Tech Teasers
On Friday, we tested your knowledge of the latest quarterly results from some of the biggest names in the tech sector. How well did you do? Find out below!
- 3% – the jump in Microsoft’s stock price after it posted its Q3 results ?
- Alphabet – recorded net income of USD$19.7bn (~£16.12bn) for Q3 ?
- 1% – the drop in Apple’s Q3 revenue from the previous year ?
- Samsung – saw operating revenue drop 23% from Q2 ?
- 12% – the YoY increase in DAUs reported by Snapchat ?
Challenge yourself on ad tech, martech, media, and commerce, by signing up to The Stack, where we publish a new quiz every Friday.