SRAX Recap: Netflix Increases Marketing Budget, Amazon Prime Day, Microsoft Wants Regulation

In this week’s digital news Netflix increases its marketing budget, Amazon Prime Day breaks records, Microsoft calls for regulation of facial recognition, and more.

Netflix increases its already massive marketing budget

At the beginning of the year, Netflix said it planned to increase its marketing spend over 50% to about $2 billion. However, some investors are skeptical because they only witnessed a 5.2 million subscriber growth of its anticipated 6.2 million. This is primarily due to the fact Netflix is focusing on spending its marketing budget on world-wide awareness for its original content, and learning what kind of promotions work for different Netflix titles.

Amazon Prime Day breaks record sales despite glitches

On Wednesday July 18th, Amazon Prime Day broke record sales. Despite the website crashing and customer shopping experiences riddled with error messages, Amazon didn’t seem to be that affected. The company touted the day as “the biggest shopping event in Amazon history” compared to other major 36-hour shopping periods, such as last year’s Prime day, Black Friday, and Cyber Monday. Amazon revealed that Prime members ordered more than 100 million products in 36 hours.

Facebook updates its ads manager to promote ad transparency

In order to make it easier for users to build ads on mobile, Facebook added new features to its ad management app. The company also launched an ad transparency tool that enables users to view all ads ran by any Facebook page. This means that for the first time, not only will marketers be able to see their competitor’s Facebook marketing strategies, but they also will build greater trust with their audiences.

Microsoft calls for regulation of facial recognition technology

Microsoft calls for more regulation of facial recognition technology. In light of the growing trend of tech companies striving internally for more ethical practices, and China’s worrying use of the technology to keep surveillance on its citizens, the company’s president Brad Smith says,

Facial recognition technology raises issues that go to the heart of fundamental human rights protections like privacy and freedom of expression. These issues heighten responsibility for tech companies that create these products. In our view, they also call for thoughtful government regulation and for the development of norms around acceptable uses.”

 

 

 

Published on July 19, 2018

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