On this week’s episode of TheMadTech Podcast, Izzie Rivers, founder and CEO of Realm, joins ExchangeWire's Hannah Dillon and Lindsay Rowntree to discuss marketing agencies outsourcing content support, Netflix's launch of "Basic with Ads", and marketing budgets' expected growth despite economic headwinds.
75% of marketing agencies outsource additional help
What do these results suggest about the needs of marketers? What do they suggest about the role of content creation?
Research from content creation platform Verblio has revealed that 69% of in-house marketers and 75% of marketing agencies are turning to freelancers or content marketplaces for help. The survey of over 400 content marketers also uncovered that 21% of agencies say content creation generates over 75% of their revenue and 62% of agencies are producing between one and nine pieces of content per client each month.
When identifying the main reasons for outsourcing, 43% of respondents listed a desire to produce content which is authentic and industry-specific, while 29% identified client satisfaction as a priority.
Netflix announces new ad-supported subscription
How do you think Basic with Ads will be received by viewers? What opportunities does Basic with Ads offer to advertisers?
Streaming giant Netflix has launched a new, cheaper subscription plan that will run adverts alongside its content. The “Basic with Ads” subscription will be available across several markets in North America and Europe from early November.
Basic with Ads is Netflix’s first subscription to include ads since the company’s launch in 2007. The company has estimated that 5% - 10% of its titles will not be available on the ad-supported tier to begin with due to “licensing restrictions”, although it is working to reduce this figure over time.
Marketing budgets predicted to grow despite fears of recession
What do these results suggest about the marketing industry? How can marketers best use this increased spend in the context of a recession?
Research from ConsultMyApp has found that 77% of CMOs are set to increase their marketing spend over the next 12 months, despite 44% expecting that the possible recession will negatively impact their businesses.
The research, which surveyed 100 CMOs of companies with over 250 employees, found that marketing budgets are predicted to rise by an average of 20% across 2023. Brand building and new service introductions are expected to see the greatest amount of growth, with 42% of respondents listing them as key areas for investment.