Mastercard Chief Marketing and Communications Officer Raja Rajamannar is quite clear on his opinion of current marketing practices. “The strategies to get the right consumer insights are totally flawed,” he said. “Every single aspect of marketing has to be reinvented.” In a CES panel on “Revolutionizing Customer Engagement,” Rajamannar and Netflix Vice President of Consumer Products Josh Simon described their partnership efforts to create experiences that engage the fanbase. The discussion, led by influencer.com Chief Executive Ben Jeffries, first focused on why traditional marketing strategies are failing. Continue reading CES: Netflix and Mastercard Partner on ‘Experience’ Marketing

Brands Mastercard and MGM Resorts International, the Ad Council and advertising technology company XR Extreme Reach (XR) gathered for a CES panel discussion on how real-time AI metrics can help increase representation in ads, thus boosting greater marketing ROI and audience trust. It was moderated by The Female Quotient Chief Executive Shelley Zalis, whose company collaborated with XR to unveil, in October, the Representation Index (RX) to measure inclusivity in global advertising. XR’s SVP of Enterprise Solutions Kristin Wnuk was also there to describe her company’s work in the space. Continue reading CES: Utilizing Real-Time AI to Measure Representation in Ads

While there are a fair share of cynics ready to write-off the metaverse before it has a chance to crawl out of its crib, many marketers remain believers. Forty-six percent of consumer branding professionals tell Forrester Research they will be upping their metaverse budgets in 2023, while only 12 percent plan to spend less. But generative AI seems to have stolen some of its thunder, with FactSet reporting AI was mentioned on 163 March earnings calls, up from seven in March 2022. The metaverse got 35 mentions, down from 112 the previous year. Continue reading Metaverse Still Shows Potential for Brand Building, Marketing

More than 100 subpoenas have reportedly been issued in the legal battle between Elon Musk and Twitter, creating a full employment act for lawyers recruited to represent Silicon Valley’s elite. In addition to Twitter co-founder Jack Dorsey, those summoned to speak include investor Marc Andreessen, Oracle executive chair Larry Ellison, tech investors David O. Sacks and Joe Lonsdale, and former Twitter security head Peiter Zatko. The matter is set to be heard in Delaware Chancery Court starting October 17. “Every firm in the Valley is salivating like dogs trying to get in on that action,” said University of San Francisco professor of legal ethics Carol Langford. Continue reading Subpoenas Fly with Tech Elite Drawn into Musk-Twitter Battle

MoviePass is opening a waitlist this week for customers that want to get onboard in time for the company’s Labor Day comeback. Subscription tiers are initially being offered at rates generally staggered from $10, $20 or $30 per month. The startup that had a spectacular rise and fall before being purchased out of bankruptcy by co-founder Stacy Spikes last November is now headed for its third act as Spikes relaunches the once-popular moviegoing service. Mark Wahlberg through Unrealistic Ideas, his non-fiction production unit, is developing a documentary on the MoviePass ascent and flameout. Continue reading MoviePass Labor Day Reboot Has Waitlist and Tiered Pricing

Apple’s all-in approach to buy now, pay later (BNPL) is viewed as an indicator of the company’s increased emphasis on financial services. Apple Pay has been around since 2014, and three years ago the tech giant issued a credit card with the help of Goldman Sachs. Now, Apple Pay users will be able to avail themselves of the new Apple Pay Later. A subsidiary of the Cupertino-based iPhone firm has received the necessary licenses to launch the new financial offering in most U.S. states. Apple’s initial plans are to underwrite and fund loans capped at $1,000. Continue reading Apple to Shake-Up Financial Services Sector with BNPL Plan

Top corporations have agreed to improve their AI-driven hiring programs. As artificial intelligence has been applied to assist in the often arduous process of screening candidates, it is reported that the software may be adversely affecting the potential of diversity in the workforce. A group of companies is designing algorithmic safeguards to improve AI screening software as part of an initiative to solve this issue. The companies hope that system upgrades will ultimately help improve decisions involving areas such as hiring, promotion, compensation and a more diverse workforce. Continue reading Companies Join Forces to Minimize Algorithmic Bias in Hiring

PayPal announced the launch of Checkout with Crypto, which allows customers to purchase certain items online via cryptocurrencies. The new feature is part of the company’s new unit focused on blockchain and crypto/digital currencies and adds to its current capability for customers to buy, sell and hold cryptocurrency. Bitcoin, Litecoin, Ethereum and Bitcoin Cash are the cryptocurrencies accepted, which are processed with clear conversion rates and no additional fees but only one type of cryptocurrency is accepted for each purchase. Continue reading PayPal, Visa Enable Streamlined Cryptocurrency Transactions

Bitcoin’s price surged above $50,000 for the first time yesterday as companies including Tesla, Mastercard, PayPal and BNY Mellon showed support for the cryptocurrency. Tesla bought $1.5 billion worth of Bitcoin and plans to accept it as payment for its cars, while Mastercard added that it too would accept Bitcoin as payment for “some of its products.” Coin Metrics reported that Bitcoin broke the $50,000 metric by rising 3 percent on Tuesday to $50,487, and hitting a fresh record high of $51,715 earlier today. Meanwhile, SEC commissioner Hester Peirce has called for crypto regulation. Continue reading Bitcoin Tops $51,000 in Value as Major Firms Support Crypto

CES 2021 was the first-ever all-digital version of the annual confab produced by the Consumer Technology Association (CTA). This year’s show featured nearly 2,000 companies and more than 100 hours of conference programming. Despite its new virtual format, CES offered compelling keynote addresses by top executives from major companies such as AMD, Best Buy, General Motors, Microsoft, Verizon and Walmart who discussed plans for new products, services and business models, in addition to an array of changes underway designed to address a world facing a pandemic. Continue reading CES: Keynotes Address 5G, AI, Robotics, Pandemic, Security

The sprawl of CES, typically measured in millions of square feet of exhibit space, multiple venues, and hundreds of thousands of attendees, now spans the globe as the Consumer Technology Association (CTA) sets “the global stage for innovation” in an all-digital format when it opens its four-day run on January 11. However dispersed, CES Week will still be the focal point for the consumer technology sector and trends will emerge, even if news and product announcements will originate from both CES events and individual company presentations. Continue reading All-Virtual CES 2021 Focuses on Innovation Despite Pandemic

In a recent survey of consumers, McKinsey & Co. found that nearly 70 percent intend to continue buying online for store pickup, even post-pandemic. It concluded that, within three months, consumers adopted new c-commerce habits that otherwise would have taken ten years. During the pandemic, many more people were forced to try online shopping as well as other remote applications such as medical appointments or workout classes. As a result, all kinds of businesses added or expanded digital services. Continue reading Consumer E-Commerce Behavior Likely to Last Post-COVID

Facebook and its partners pulled back their ambitious plans for the Libra cryptocurrency, which was unveiled last June as “a futuristic global money” that could be the foundation of a “new kind of financial system.” In the months since its June debut, the Libra project has encountered a range of obstacles and the scrutiny of regulators. The Swiss-backed Libra Association, citing global opposition to the project, now aims to create a payment network with coins tied to a local currency. Continue reading Facebook Narrows Scope of Proposed Libra Cryptocurrency

Facebook’s cryptocurrency Libra has faced another setback, this time in the European Union, which plans to introduce legislation to prevent it from competing with Europe’s single currency. European Commission vice president Valdis Dombrovskis, in charge of regulation, said Libra is a systemic risk to the Euro, “both from the perspective of financial stability and the protection of financial investors.” In the U.S., two Democratic senators urged Mastercard, Visa and Stripe to reconsider their support of Libra. Continue reading Libra Is Challenged by European Commission, U.S. Senators

PayPal just pulled out of Facebook’s cryptocurrency initiative Libra, introduced in June. At the time of release, Facebook partnered with 27 companies, including Mastercard, Uber and Visa, as well as PayPal. Libra is designed to be used internationally within Facebook’s own properties, such as Messenger and WhatsApp. Apple chief executive Tim Cook described Libra as a “blatant power grab,” saying that currencies should be the domain of countries and added that Apple had no plans to launch its own digital currency. Continue reading Facebook’s Libra Hit by PayPal Pullout, Apple Chief’s Roast