Channel 4 wins Greatest TikTok UK
Channel 4 has won ‘Greatest TikTok UK’ in the platform’s inaugural TikTok Awards. Designed to promote Channel 4’s role in fostering diverse and exciting new voices, the campaign took as its starting point the insight that TikTok is a place where most users (76%) feel comfortable expressing their true selves, and where they love to discover new culture.
The campaign riffed on one of the hottest TikTok memes, “tell me, without telling me”. Channel 4 invited its viewers to celebrate and showcase their differences, using the “tell me, without telling me” format.
Campaign results:
This week the UK and other regional finalists (including Germany, France, Italy, Spain, Poland, and the Nordics) met in Amsterdam for the competition’s Grand Prix. Ultimately Unieuro was given top honours by the jury for their 'The Clerk' campaign, and took home the coveted Greatest TikTok Europe prize.
Klarna launches UK creator marketplace
The ASA recently issued guidance for Buy Now Pay Later (BNPL) advertisers, reminding them of their duty to keep ads responsible and not encourage irresponsible spending. In the US, the Consumer Financial Protection Bureau (CFPB) has announced plans to start regulating BNPL firms. The regulatory spotlight hasn’t stopped Klarna from expanding its Creator Platform, to match retailers with influencers and track performance. 41% of British shoppers who buy from social media already shop directly from influencer pages. Among Gen Z shoppers this is even higher, at 55%.
UK Treasury plans to bring control to crypto sector
The Treasury is completing plans on a set of comprehensive rules to regulate the cryptocurrency market, including:
Guidelines for product advertising
Prohibitions on international businesses selling to the UK
Methods for handling business failures
Ministers will soon begin a consultation on the new regulatory framework, after the collapse of FTX upped the ante on the government’s promise to impose order on finance’s “wild west”.
This year, the Financial Conduct Authority started looking into the anti-money laundering procedures of UK-based crypto companies, but it is limited in its ability to safeguard customers from issues including deceptive advertising, fraud, mis-selling, and poor management. Proposed new powers would put the FCA in charge of overseeing crypto, and the ways that companies advertise their products.
Global digital advertising growth slows to 9.3%
GroupM forecasts global digital advertising to grow by 9.3% in 2022. This is down from June forecasts of 11.5%, and roughly a third the growth rate seen last year. 2021 saw growth of 31.9%.
Digital advertising's overall share of the industry ticks up to 67% in 2022, and will rise to 73% by 2027, according to GroupM.
In the UK, digital is set to contribute 80% of total ad revenue this year, a growth of 11%.
Top creator reporters win LA Press Club Award
Top creator economy reporters Kat Tenbarge and Amanda Perelli won the Business Tech/Arts category this week at the LA Press Club’s awards, for their investigation last year into a secretive management firm for OnlyFans stars.
EU threw a party in the Metaverse. No-one showed up
Well, not no-one. Five people showed up to a metaverse-set party hosted by the European Commission’s foreign aid department to get young people excited about the EU. According to Devex, the European Commission’s foreign aid department has spent €387,000 on the metaverse, to spread the word about its notoriously under-understood “Global Gateway” investment plan.
