Internet advertising revenues hit a record $225 billion in the U.S. in 2023, a 7.3 percent increase, according to a PwC report for the Interactive Advertising Bureau (IAB). The connected TV and audio categories saw double-digit growth, as did spending on e-commerce platforms, classified “retail media,” which rose 16.3 percent year-over-year, reaching $43.7 billion in 2023 as key players expanded their ad inventory. Video advertising revenue climbed 10.6 percent year-over-year, to $52.1 billion, with 42 percent of that revenue generated from CTV and OTT streaming. Continue reading IAB: U.S. Digital Advertising Hit Record $225 Billion Last Year

Walmart is putting generative AI in the hands of roughly 50,000 non-store U.S. employees who will have access to My Assistant, an LLM trained on information. From speeding the drafting process to serving as a creative partner and summarizing documents, “My Assistant has the potential to change how our associates work and solve problems,” Walmart said, emphasizing the launch goes beyond productivity gains. “We believe the key to unlocking transformation lies in the creativity and innovation of our associates. Ideally, this technology will free them from monotonous, repetitive tasks, allowing more time and focus for improving the customer/member experience.”  Continue reading Walmart Is ‘Empowering’ 50,000 U.S. Associates with GenAI

Open-world action role-playing game “Diablo IV” has become the biggest out-of-the-gate seller in Blizzard Entertainment history, generating $666 million in global sales within the first five days of its June 6 launch. The game developer equated the record to box-office movie performance, crediting “Diablo IV” for the company’s “biggest opening week of the year.” The online game, which accommodates single or multi-players, combines a gothic atmosphere with monster-slaying. The heroes of Sanctuary, the world in which “Diablo” is set, have already played more than 276 million hours, or more than 30,000 years. Continue reading Blizzard: ‘Diablo IV’ Generates $666 Million in First Five Days

PricewaterhouseCoopers U.S. will invest $1 billion to expand and scale its artificial intelligence capabilities over the next three years. The accounting giant will work with Microsoft and OpenAI to automate parts of its tax, audit and consulting services. In addition to scouting for AI software acquisitions, the investment will also fund training for its staff of 65,000 and recruitment of new talent. PwC predicts generative AI will “change business models and reinvent entire industries,” contributing up to $15.7 trillion to the global economy by 2030. Continue reading PwC’s $1 Billion Investment in AI Includes Microsoft, OpenAI

OpenAI has released GPT-4, which it says is a more powerful and reliable version of the artificial intelligence technology powering its viral ChatGPT chatbot. GPT-4 can analyze images and handle larger blocks of text and is generally “more creative and collaborative” than earlier iterations when it comes to things like composing songs, writing screenplays and mimicking a user’s authorial style. “GPT-4 can solve difficult problems with greater accuracy, thanks to its broader general knowledge and problem-solving abilities,” OpenAI says. GPT-4 is already driving the chatbot technology behind Microsoft’s Bing AI search engine, now in beta. Continue reading OpenAI Announces Official Launch of GPT-4 Multimodal Tech

Well-funded software startups are springing up to target the enterprise market with generative artificial intelligence technology of the type popularized by ChatGPT. In 2022, global venture-capital investors parked $1.3 billion in more than 78 generative AI startup deals, according to PitchBook Data. That’s nearly as much as the combined capital investment in other tech startups over the past five years, and it came at a time when the broader investment sector was experiencing a slowdown, PitchBook found. Two of Q4’s biggest venture deals were for the generative AI startups Jasper, based in Austin, Texas, and Stability AI, headquartered in London. Continue reading Venture Capital Investors Are Drawn to Generative AI Startups

Video games as an advertising medium is still relatively niche, but a migration to streaming has paved the way for what observers predict will be explosive growth. Ad Age recently identified gaming as “the next huge advertising channel.” Fast Company posits U.S. in-game advertising, or IGA, is currently between $6-$8 billion, which is less than 6 percent of U.S. digital advertising. Analytics firm Research Dive predicts in-game advertising will grow to $14 billion worldwide by 2028. Fast Company says here are nearly 3 billion global players — one in four people — and growing by 15 percent a year. Continue reading Video-Game Advertising Projected to Top $14 Billion by 2028

Given the messy, eleventh-hour battle with the FAA over 5G deployment, it’s not too early to start planning a rollout for 6G, experts say. While the U.S. trails Asia in 5G availability, it’s still at the front of the pack, with coverage of roughly 80 percent of the population through home or office in mid-2021, says PwC, assessing only about 12 percent of “device penetration,” or subscriptions. Yet 6G is already being touted as being able to take cloud computing and the mobile Internet to unimagined realms of global connectivity and social equity. Continue reading Global Tech Firms Advised to Begin Planning for Jump to 6G

Microsoft has made a nearly $70 billion offer to buy Activision Blizzard in a move that will bolster its Game Pass franchise, instantly expand its reach in mobile gaming, and create a content platform for the consumer virtual worlds that are expected to be big business in coming years. Statista estimates the global gaming market generated just over $178 billion in revenue in 2021, more than PwC projections for video streaming (almost $59 billion) and box office ($23 billion) combined. When the transaction closes, Microsoft says it will be the world’s third-largest gaming company by revenue, behind Tencent and Sony. Continue reading Microsoft Believes Activision Purchase Is ‘Key’ to Metaverse

The World Economic Forum (WEF), in partnership with 100+ organizations, debuted its Global AI Action Alliance with the mission to “harness the transformative potential of artificial intelligence by accelerating the adoption of trusted, transparent and inclusive AI systems globally.” Its steering committee includes IBM chief executive Arvind Krishna and International Trade Union Confederation general secretary Sharan Burrow, with multinational organizations OECD and UNESCO. The Alliance is the recipient of $500,000 from a Patrick J. McGovern Foundation $40 million grant to support AI and data projects. According to PwC, AI could contribute $15+ trillion to the world economy by 2030. Continue reading World Economic Forum Introduces Global AI Action Alliance

Spotify, which now has 123 million worldwide users of its ad-supported audio service, is expanding its podcast business by offering advertisers the ability to target consumers based on the types of podcast programs they are streaming. Brands across 10 global markets (Australia, Brazil, Canada, France, Germany, Italy, Mexico, Spain, United Kingdom and United States) will have the option of targeting Spotify Free users based on podcast categories such as “Business & Technology,” “Comedy” and “Lifestyle & Health.” 3M and Samsung have been testing the new ad-targeting tool. Continue reading Spotify Expands Ad Options by Targeting Podcast Listeners

AT&T’s ad unit Xandr has launched its ad-buying platform that offers exclusive access to AT&T’s customer data and assists companies in purchasing ad space across formats including mobile and streaming video. The platform, called Xandr Invest, will let advertisers buy ads on AT&T properties such as CNN, TBS and TNT, and will serve as the only ad-buying platform for Xandr’s Community marketplace that also features curated content from publishers such as Philo, Tubi and Vice. AT&T will compete in advertising with Google and Facebook, which combined represented almost 60 percent of the Internet ad market last year, according to PwC. Continue reading AT&T Rolls Out Its Ad-Buying Service for Premium Content

Luminary is a podcast startup that has debuted with more than 40 exclusive shows and no ads. The company also has almost $100 million in funding and, for $8 per month, subscribers will get full access to the content lineup, which includes a new show from Lena Dunham and series from Conan O’Brien, Malcolm Gladwell and Trevor Noah. Co-founder/chief executive Matt Sacks stated that Luminary aims to be “synonymous with podcasting in the same way Netflix has become synonymous with streaming.” Continue reading Luminary Launches with Plan to Be the Netflix of Podcasts

Media companies continue to adopt a variety of digital technologies, but have proven to be more reluctant than other industry sectors to embrace artificial intelligence. That’s the finding of PwC, which surveyed 1,000 U.S. executives for its “2019 AI Predictions” report. Covering many industry sectors, the research revealed that 20 percent of these companies plan to deploy AI next year. But media companies are still in the very early stages of enabling AI, and only a few with an AI business case. Continue reading PwC Research Reveals Media Execs’ Reluctance to Adopt AI

A report from the Interactive Advertising Bureau and PricewaterhouseCoopers shows marketers are spending considerably more on digital advertising due to an increased use of mobile devices, as well as online shopping and greater consumption of video, music and podcasts. Digital advertising ramped up 23 percent to $49.5 billion in the first half of 2018, from $40.3 billion during the same period in 2017. Of that, advertisers spent almost 63 percent ($30.9 billion) on mobile advertising in 2018, compared to 54 percent in 2017. Continue reading Mobile Use, Online Shopping and Video Spur Digital Ad Growth