In this episode of the MadTech Podcast, ExchangeWire editor Aimee Newell Tarín is joined by head of content John Still and Charlotte Stavrou, founder & CEO of SevenSix Agency.

They look into global ad spend figures from WARC, Meta implementing safeguards around AI character chatbots for children, and Instagram testing skippable ads in Reels. 

They also discuss social media algorithms and the dominance of big platforms, the repercussions of AI on children, and the state of creator marketing.

This week's stories:

Global ad market prospects upgraded with social, search and retail media leading the way (Internet Retailing) 

Recent figures from WARC reveal that 90% of ad dollars entering the global ad market go to online only channels, with social media being the largest single advertising medium, accounting for 41% of ad market growth this year. Meta is expected to account for over 60% of all social media spend worldwide by the end of the year, although its share of the social market is expected to dip slightly over the next couple of years due to TikTok’s continued growth.

Parents will be able to block Meta bots from talking to their children under new safeguards (The Guardian) 

Meta is introducing new safeguarding features to allow parents to block their children’s interactions with Meta’s AI character chatbots, aiming to address concerns over inappropriate conversations. Parents will have the option to block specific AI characters if they don’t want to stop all of their child’s interactions with chatbots. They will also be able to access “insights” into the topics their child is chatting about with AI characters. 

Meta is testing skippable ads on Instagram Reels (AdWeek)

Meta confirmed that Instagram is testing skippable ads within Reels, allowing users the option to skip and move past an ad when scrolling. The test is designed to assess whether the format helps users discover businesses.