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Digital Digest – 28 May

Photo by Jeremy Bishop on Unsplash

In this week’s Digital Digest we look closer to home at the ASA’s decision to ban bitcoin’s “It’s time to buy” advert and TuneCore and Believe’s partnership with YouTube.

We then look across the pond at Amazon’s purchase of MGM and Diet Coke’s latest ‘just because’ campaign.

Finally, we look down under at ABC’s deal with Google and Facebook.

CLOSER TO HOME

Tide turning on bitcoin as “Time to buy” adverts banned in UK for being irresponsible

An ad campaign telling the public that “it’s time to buy” bitcoin has been banned after the advertising watchdog ruled that it was irresponsible and misleading. The ASA received complaints that the ads failed to illustrate the risks involved with investing and trading in bitcoin, which is not regulated in the UK, and was therefore misleading.

The ASA said the simplicity of the “it’s time to buy” statement gave the impression that bitcoin investment was straightforward and accessible. The audience it addressed (the general public) were likely to be inexperienced in their understanding of cryptocurrencies. The ad was banned for breaching the UK code on misleading and irresponsible advertising.

This is yet another hit to the digital currency, which was already reeling after Elon Musk suspended plans to let Tesla customers pay for cars in bitcoin due to environmental concerns about the energy required to mine the cryptocurrency.

TuneCore and Believe partner with YouTube to provide music for TikTok rival Shorts

TuneCore and its Paris-based parent company Believe have partnered with YouTube to provide music for its TikTok rival, Shorts. Shorts launched its beta in the US with 250 label and publisher partners, including Universal Music Group’s labels and publishing companies, Sony Music Entertainment and Publishing, Warner Music Group and Warner Chappell Music and others.

Described as a key music partner to YouTube, Believe and TuneCore’s roster of music is included in the YouTube Shorts music library, and will be made available for creators to include in their videos.

ACROSS THE POND

Amazon buys Hollywood studio MGM in $8.45bn deal

Amazon has bought MGM, the Hollywood studio behind the James Bond and Rocky franchises, for nearly $8.5bn as the battle for global streaming supremacy reaches new heights. It was reported that both Apple and Sky were interested in acquiring MGM, before they both ultimately balked at the size of the cheque Amazon was willing to write. This is the second-largest takeover deal ever struck by Amazon and serves to demonstrate just how serious the streaming war between Netflix, Amazon and Disney has become.

Diet Coke unveils updated ‘just because’ campaign

Diet Coke unveiled the brand’s new ‘Just because’ campaign with the release of the remixed version of its classic jingle. The campaign – conceptualized by New York City-based advertising agency Droga5 London – captures the unapologetic spirit of fans.

The new Diet Coke campaign has been launched with a bang with a seductive retro makeover of the brand’s classic “Just for the taste of it” jingle. The jingle used to introduce the brand in 1982 has been remixed by Grammy Award-winning artist Thundercat.

The brand has collaborated with Droga5 London for the first time to create Diet Coke’s latest campaign.

DOWN UNDER

ABC to agree deal with Google and Facebook that could see millions spent on regional news

ABC has signed letters of intent with both Google and Facebook for payments under the news media bargaining code, the broadcaster’s managing director David Anderson has revealed.

ABC has indicated it will use any potential revenue to boost coverage of regional and rural Australia, telling local stories and celebrating unique Australian stories. Wednesday’s announcement comes months after talks started between the ABC and Google. The commercial arrangement with Google involves displaying its content in the Google Showcase product.

ALSO IN THE NEWS

  1. WhatsApp is suing the Indian government over new digital rules that will force the messaging service to violate privacy protections, claiming rules that require tracing the origin of chats were the equivalent of keeping a “fingerprint of every single message sent on the service”.

  2. The move comes just days after police in India visited Twitter’s offices, after its moderators labelled a tweet by the national spokesperson of the governing party as potentially misleading.

  3. An Indian analytical firm has launched a centralised next-gen automated Al powered data tool to provide real-time business insights for customer behaviours to CMOS and other marketers that are 10x faster than conventional methods.

  4. In the UK, a video showing a Low Traffic Neighbourhood [LTN] barrier being removed has gone viral on TikTok, inspiring campaigners across the country who are keen to see the controversial barriers scrapped.

WORTH A READ

  1. Nick Clegg’s op-ed for CNBC calling for a bipartisan approach to break the deadlock on internet regulation

  2. The BBC’s report on the ‘cloud wars’ being fought by the Tech Giants deep in the ocean

  3. A detailed look into Facebook’s deal with Canadian news providers for Global News

  4. Kate Beioley explores the battle to win at legal technology for the Financial Times

  5. The Drum’s latest deep dive – top creatives talk through their favourite gaming ads

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