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Travel and Tourism Brands Boost Marketing and Tailor Messages; Penske Buys a Big Stake in SXSW | | | | | | |
 | | A scene from Expedia's new ad campaign, part of a broader increase in marketing by the travel industry after a year of lockdowns and limited movement. PHOTO: EXPEDIA | | |
| Good morning. Expedia is beginning its most expensive brand marketing effort in five years, part of travel and tourism brands' move to reassert themselves after a year of lockdowns and limits on movement, Alexandra Bruell reports for CMO Today. The marketers are re-evaluating and recalibrating their pitches in the process, some leaning on messages about safe gathering, others focusing on deals. | |
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| "In the past 13 months we've seen a completely unprecedented slashing of advertising budgets in the travel industry," said Kevin Kopelman, an analyst who covers online travel companies and hotels. But a recent increase in demand has been driving an increase in travel marketing, although not necessarily to pre-pandemic levels, Mr. Kopelman said. A campaign from Vrbo encourages families to gather again—without mentioning the pandemic that has kept so many apart. For families stuck at home together during the pandemic, on the other hand, Universal Orlando is offering 40% off to lure them back out. Related: Alaska is promising free Covid-19 vaccines to any travelers arriving at the Anchorage, Fairbanks, Juneau or Ketchikan airports. [NYT] | |
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| "The venture capital world spent a decade betting against advertising, and it's about to blow up in their faces." | | — Bustle CEO Bryan Goldberg, reveling in growing digital ad spending as companies try to put the worst of the pandemic behind them | | | |
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 | | The Austin Convention Center during South by Southwest in 2019, the last time the festival was held in person. PHOTO: SERGIO FLORES/REUTERS | | |
| Penske Media, the publisher of magazines like Rolling Stone, Billboard and Variety, agreed to buy a 50% stake in South by Southwest, Lukas I. Alpert reports. The Texas tech, music and film festival took a severe hit last March when Austin city officials canceled it at the last minute because of the outbreak of the coronavirus pandemic. Organizers said then that their insurance didn't cover cancellation because of a pandemic and that the cancellation would cost them millions. "It's been an incredibly tough period for small businesses, SXSW included," SXSW's chief executive and co-founder, Roland Swenson, said in a statement. "When [Penske founder] Jay Penske came to us with interest in becoming a partner, it was a true lifeline for us." Mr. Penske sees the potential digital partnerships between the festival and his music and entertainment publications as a driver of long-term growth, a person familiar with the matter said. | |
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| One cent | | Apple Music's payment to rights holders for each stream of a song. Apple disclosed the figure in a letter to artists as part of a growing effort by music-streaming services to show they are artist-friendly. | | |
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 | | Real Madrid and Liverpool players line up before a UEFA Champions League match. PHOTO: DARREN STAPLES/PA WIRE/ZUMA PRESS | | |
| Europe's top soccer clubs announced a breakaway "Super League" separate from the Champions League. [WSJ] Audio-only social network Clubhouse closed a new funding round valuing it at $4 billion. [Reuters] Facebook today plans to announce new "social audio" products including a podcast push and its version of network Clubhouse. [Recode] Roblox is working on content ratings for games and better parental controls to address sexual role-play on its platform. [WSJ] Ad agencies are confronting employee burnout amid the pressures of the pandemic. [Insider] The New York power lunch is back, with new rituals. [WSJ] | |
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We bring you the most important (and intriguing) marketing news every day. Write me at nat.ives@wsj.com any time with feedback on the newsletter or comments on specific items. We want to hear from you.
And follow the CMO Today team on Twitter: @wsjCMO, @natives, @alexbruell, @sizpatel. | |
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