🚀 Target's Toy Buzz & Beer Icons Clash!

Welcome to Friday! In this edition, we're spicing up your weekend prep with must-know news and fascinating updates. From ITV's savvy marketing strategies to Target's latest playful venture, Gigglescape, and even a unique showdown between Jason Momoa and Pedro Pascal. Ready for a quick dive into the highlights that matter? Let's get started

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ITV raises its budget for marketing

“Marketing is an important tool to continue to attract users and viewing on ITVX, and also on our linear TV channels,” ITV says in its annual results statement. 

It’s 2024 and ITV has decided to invest in marketing, stating it as an important piece to help them attract viewers towards ITVX, their streaming platform.

The business plans to put in an additional £15m towards their digital revenue growth. 

A promising future

In 2023, they saw monthly active users increase by 19%, which raised their digital revenue up to £490m. Seeing the growth and potential of their streaming platform that was introduced at the end of 2022, they have decided to increase their investment in their continued marketing efforts for ITVX.

The ideal outcome:

Hoping to gain at least 20 million active users by 2026, ITV is planning to focus on a more “responsive” marketing approach. They want to make sure that they are putting the spotlight on the most popular programmes. 

The plan for 2024:

In this new era of streaming platforms, ITV knows that they have to make a presence, which is why they plan to introduce campaigns throughout 2024 to attract the right crowd towards ITVX, the 25-54-year-olds. 

ITV, as a whole, saw a dip in their revenue by 2%, driving their new strategy to optimise their marketing towards the divisions that show a promising future, like ITVX, while steering away from inevitable losses. 

Target launches a new toy brand- Gigglescape

Squishmallows, Beanie Babies, and now… Gigglescape?

The Scoop:

• Gigglescape is a new private-label toy brand launched by Target that offers plush toys, books, and games— all priced at $20 and under. 

• Most of their plush toys are priced below $10, and Target started offering the stuffed animals line a few weeks ago.  

• The current collection spots a giraffe, unicorn, teddy bear and shark, and the retailers plan to unveil more puzzles, games, toys, and collections in the coming weeks. 

• The chief merchandising officer of apparel, accessories, home and hardlines of Target; Jill Sando, says that this new approach will help Target stay relevant amongst families.

Target has big plans

The retailer has recently launched a few new labels like Dealworthy, Up&Up, and Figmint, with their latest, Gigglescape, taking center stage.

Target believes that launching these new brands is important in keeping them (Target) relevant to their customers, especially families. They also emphasized the importance that these privately owned brands play in improving their customer’s value perception. 

However, this isn’t their only plan for 2024— the retailer also plans to restructure their current loyalty program Target Circle, to Target Circle 360 which will offer paid membership options that are delivery-focused.

This will bring the brand toe-to-toe with competitors like Amazon and Walmart. 

Jason Momoa vs Pedro Pascal? 

Yes, you heard right, but it isn’t what you think. 

Jason Momoa is Guinness’ new director 🎉

Aquaman has always wanted to direct for Guinness, and now, he has. In his directorial debut, Jason Momoa unveils “Lovely Day for a Guinness”, a special ad just for Guinness. 

The ad starts with Momoa at a bar, waiting for a pint with an envelope in front of him. After contemplating, he decides to open it, screams in excitement, startles everyone around him, and takes off. 

He runs out of the bar and all across town, and finally ends up in an Irish bar and says (declares) that he’s Irish. He then celebrates with a pint of Guinness with his friends and family, despite being only 2% Irish. 

Momoa says that the two-minute and 34-second ad was his dream and that it was a lot of fun pitching it to the Guinness team. 

🍻Pedro Pascal is Corona’s new top brand ambassador

It’s all about beer this week. 

Internet’s current favorite man is Corona’s new best friend

Pedro Pascal, best known for his role in the famous TV series ‘The Last of Us’ and ‘The Mandalorian’ is still making waves— this time with Corona. 

The brand has announced that they will be closing their chapter with Snoop Dogg, the previous lead of Corona’s ‘La Vida Más Fina’, and are now looking at new paths with actor Pedro Pascal, who is Marvel’s new star in the upcoming Fantastic Four. 

It’s all about heritage too…

To Corona, moving forward with Pascal is more than just a move to dive into consumer culture, it is also an opportunity for them to embrace their identity as a beer brewed in Mexico. Pascal, who is Chilean-American is the perfect brand ambassador and partner for Corona which seeks to make its mark as a Latino brand, and all the while, celebrate the duo’s shared heritage. 

Corona’s next beach-themed ‘La Vida Más Fina’ will be led by Pascal and is expected to take flight in May, right before summer 2024. 

More Marketing News

• Zoa Energy teams up with Dwayne ‘The Rock’ Johnson for their new campaign titled “Big Dwayne Energy”. 

• Wolverine Worldwide’s key brands, Merrell and Sweaty Betty will be launching a new women’s hiking collection after a revenue dip in Q4 2023. 

• Ashley home has recently acquired Resident Home, but Resident’s co-founders and co-CEOs, Ran Reske and Eric Hutchinson will remain in their positions as part of the deal.

• Gender biases in branding and advertising models are still present and this has a heavy impact on a brand’s limit of creativity. 

• Social Media is overrated: Marketers have once again named social media as the most overrated digital marketing tool by businesses. 

DTC news you can use

• Blume, the Superfood latte brand, is taking customer feedback seriously when it comes to product development. 

• Filtered shower heads and humidifiers are now beauty products? 

• Good news: Grove no longer needs you to be a member to place orders!

⭐Advertising pick of the week:

Well, Ketchup has been around for years…

But this is the World’s first ketchup insurance policy: only by Heinz…

Signing off from a week of tech tales, we're shifting into weekend gear. Kept you hooked? We'll be back on Monday with more.

Now, to unwind: Guinness, Corona, or perhaps a non-alcoholic brew? Choose your chill. Catch you in the tech stream! 🚀🍺