|The Big Idea|
Is this the biggest meme account buyout ever?
Warner Music Group just ponied up ~$85m for one of the internet’s most successful meme factories.
The deal was technically for IMGN Media, a network of popular esports, comedy, and ASMR accounts. But the biggest IMGN prize is Daquan, an Instagram account followed by Drake, The Weeknd, Justin Bieber, and 15m+ others.
An anonymous high schooler started it in 2014 — then built it into a media empire.
Why would a record label want in on memes?
The suits want to know what’s trending with teens.
Instead of paying influencers, Warner is cutting out the middleman. A look at Daquan’s data could explain how to catapult new singles into viral hits.
One proof of concept: Create Music Group bought the musical.ly account Flighthouse for “mid-five figures” in 2017, when the account had just 1m followers.
Now Flighthouse is one of the main forces behind TikTok’s biggest songs.
The label love of memes goes way back
“Falling” by Trevor Daniel has been all over the streaming charts this year, and you can trace its popularity back to a “Simpsons” meme.
A bigwig at Alamo Records told Complex that a well-placed meme can shoot streaming numbers up between 122% and 600%.
Memes aren’t just for music
Some companies, like Doing Things Media, are buying dog and fitness accounts with millions of followers — then selling partnerships to marketing bigwigs.
Reid Hailey, Doing Things’ CEO, told us the Daquan deal shows “how valuable meme accounts can be to drive awareness.”
The secrets of acquiring giant Instagram accounts
The latest Trends lecture features the team that owns the extremely popular @NBAmemes account.
UFC Champ Michael Bisping and Aaron Avruskin — who recently formed a joint venture with Mark Cuban — explained how a network of meme accounts grows their sports-gaming platform, PlayLine.
Here are some takeaways
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5 stories to catch you up quick
1️⃣ A sign that Big Tech may not be done with offices after all: Amazon is planning to add 3.5k corporate jobs across 6 major US cities.
2️⃣ Uber is ramping up its war against California: The company released its $24.99-per-month subscription service, available in… every state but one.
3️⃣ Shopify is rolling out its first TV show, an 8-part reality series called “I Quit.”
4️⃣ And here we are double-checking our $25 Venmo payments: Citibank is suing a hedge fund after it accidentally wired $176m.
5️⃣ That huge Twitter hack last month? More scammers are suddenly using the same tactic, called “phone spear phishing.”
And 5 more to delight you
1️⃣ A great story from the Inc. archive: Ken Hendricks once built a huge roofing business by shooting straight and helping blue-collar workers improve their lives.
2️⃣ Ever wish you were invisible? Now you (almost) can be.
3️⃣ AI photo editing still has a ways to go: One photographer says Gigapixel AI confused a blurry spot in a photo with Ryan Gosling’s face.
4️⃣ An anonymous man dressed in a Batman costume is giving food to people reeling from the pandemic in Santiago, Chile.
5️⃣ Work from home doesn’t mean an end to perks: Companies are teaching employees how to build ukuleles, make snazzy cocktails, and roast marshmallows from their houses.
69.7% of online shoppers abandon their carts
That’d be like if you went to the grocery store and two-thirds of the shoppers left their food in the aisle and exited without buying a damn thing. Whoa.
Why does this happen online? Because customers expect personalization.
That means discounts, bundles, and suggestions based on what they’re looking for… like 15% discount codes emailed to them for those 100% wool socks they almost bought, or an Instagram ad reminding them why they searched “organic dog treats” in the first place.
That’s exactly what their ecommerce marketing platform is built to maximize.
With centralized marketing insights, automated customer engagement, and vertically streamlined data, Drip is giving over 1,000 small ecommerce businesses a competitive advantage over Amazon.
In other words, Drip focuses on your customers, so you can focus on your product.
What are therapy apps doing with your data?
You thought a therapist with a pen and paper was scary?
A New York Times investigation into Talkspace, the teletherapy app that’s snagged $100m+ in investment cash, found it was doing much more than jotting down notes.
Employees apparently read over anonymous therapy transcripts to evaluate psychologists. (Talkspace said this only happened if an algorithm flagged a session.)
Surprised? That’s par for the course
One study found that 81% of the top-rated mental health apps shared your data with 3rd parties — but only a little over half of them admitted it.
Some of the sharing is about advertising, but there’s a bigger concern: If you get tagged as having a mental illness, algorithms could discriminate against you.
Facebook was once accused of using similar demographic data to limit which users see housing ads.
For some apps, therapy is just a side hustle
Take Crisis Text Line, which is pretty open about reading your texts. The company looks for key phrases that signal when someone is in crisis.
It gives that info to its sister brand, Loris.ai, a company that sells risk-assessment software that can flag when a customer or an employee needs help.
One more thing you should know
According to the FDA, these apps aren’t medical devices.
Most are listed as “wellness” apps, which means they have a lot more freedom to share your deets.
Jezebel found that Better Help was alerting Facebook every time you open the app — even though it pitched itself as “100% private.”
Many people still aren’t driving to work — but they are still getting everything delivered.
That trend is reshaping the workforce in a big way. July was the first time on record when more Americans worked in delivery jobs (as couriers and messengers) than at gas stations:
|Gimme the beat|
The huge business behind those background bops
Ever find yourself tapping your toes to the latest tunes… at McDonald’s?
Startups like Soundtrack Your Brand could be the reason why. The company just inked a deal with Universal Music Group to help corporate clients build streaming-safe playlists.
Licensing deals are music to artists’ ears
Musicians are supposed to get paid each time their music plays in public. But the industry loses an estimated $2.65B/year when businesses blast the manager’s personal Pandora stations.
Companies pay Soundtrack Your Brand $30-$40/month for music. Its revenues for 2018 were ~$3.5m.
The background biz has playlists down to a science
The psychology of music is powerful — and companies like Music Concierge are all about taking advantage of it.
According to Ambie, another music consultant, consumers are 24% more likely to buy a product when they dig the tunes they hear.
A few more things music can do, according to science:
(Gottscho-Schleisner, 1950, via Library of Congress)
On August 19, 1950, ABC debuted a pair of Saturday morning shows for kids — among the earliest TV series aimed at the 10-and-under crowd.
Before Elmo took over the tube, kids watched the circus-themed “Acrobat Ranch,” plus “Animal Clinic,” which featured a cast of live animals.
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Editing by: Nick “Meme Man” DeSantis, Mia Culpa (Self Esteem Coach).
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