Millennials have forced the ad industry to change the scripts, encouraging more honest and creative content. But according to Eytan Elbaz, co-founder of digital content companies Render Media and Social Native, the generation also cares about socially conscious content.
Elbaz focuses on branded advertising, what used to be called "product placement." He told Cheddar what his company is doing to get this form of advertising right. For starters, he said, it’s important to look at companies as millennials do.
“We are shifting the perspective,” Elbaz told Cheddar.
The man behind "Cooking Panda" and "Opposing Views" says that his company is creating branded content that highlights how products impact the people involved, because this is what millennials care about. For example, for effectiveness, a coffee brand would highlight its relationship with farmers and suppliers.
“Millennials...care about the way these coffee companies are impacting the world around them,” he said.
Branded content, which has become popular with social media influencers, has become a huge business. Research firm MediaKix projects the influencer marketing industry will rake in $2 billion by 2019.
Similarly, a study published by Goldman Sachs points out that millennials are social and connected, and 38 percent communicate with others about products and brands via social media.
Still, for some companies creating branded content that’s perceived as real and natural remains a challenge.
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply. Third-quarter earnings fell to $1.4 billion, from $2.2 billion a year earlier. Excluding charges, per share profit of 50 cents came in below analysts' estimate. Tesla shares fell 3.5% in after-hours trading. Musk said the company's robotaxi service, which is available in Austin, Texas, and San Francisco, will roll out to as many as 10 other metro areas by the end of the year.
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