US Government is Planning to Turn Metro Areas into Tech Hubs
$500 M
The Department of Commerce stated that the U.S. government is planning to turn metro areas in middle America into Tech Hubs with an initial investment of $500 million. This Innovation Hub program helps to create more well-paying jobs across the nation.
25%
Last year Netflix introduced a cheaper, ad-supported option when its subscriber growth was stuck. Now it has 5 million monthly active users and due to this service, 25% of its new subscribers were signing up for the newest tier. Netflix is planning to make another move with a password-sharing crackdown to boost its revenue
45%
Gartner studies revealed that OpenAI’s ChatGPT has spurred 45% of executive leaders to invest more in AI. 70% of organizations are still in experimental mode with Generative AI, 19% are in a testing phase and 68% believe that the benefits of generative AI would be more than the risks, while just 5% believe it might be reversed.
3%
Apple has announced its earnings report, it has seen a revenue shrink of 3% and reached $94.8 billion, as consumer spending on smartphones and computers decline. When compared to the previous year quarter Apple’s net income drops more than 3%. As per data from Gartner, worldwide PC shipments declined to 30% in the Q1 of 2023 compared to the previous year.
$4 B
A new report from the Interactive Advertising Bureau (IAB) and PwC stated that in the US, podcasting ad revenue rose by 26% YOY in 2022 to hit $1.8 billion and this revenue will double by 2025. 2022 podcast ad revenue came from advertisers including advocacy, home improvement and education 28%, followed by financial services 14%, entertainment and media 13% and consumer packaged goods 10%.
3.6%
Ad spending on TV during the upfronts is forecast to decline 3.6% YOY to $18.64 billion as per Insider Intelligence. 30% of all TV ad spending will be taken place during the upfronts season. Across the upfronts and NewFronts, spending on digital is predicted to rise 28% YoY to $12.48 billion.
3.8%
emarketers predict that US media ad spending will hit the $350 billion mark this year, but growth will be slow at 3.8% and again it will rebound in 2024. Traditional media ad spending will reach $89.97 billion, digital ad spending will pass $260 billion and social network ad spending will grow to $68.45 billion.