Mumbrellacast: Could Facebook become the Google of the Metaverse?

On this week's Mumbrellacast, Damian Francis, Olivia Kruimel and Tim Burrowes join host, Calum Jaspan, to talk about the week in media and marketing.

Big tech was in focus this week, with both Google and Facebook dropping Q3 financials. Google reported a 41% revenue rise to US$65 billion (A$86.5 billion), up on US$46 billion (A$61.2 billion) in Q3 2020. Search advertising was the key driver, alone contributing almost US$38 billion (A$50.6 billion). The results arrived just days after redacted documents in relation to the ongoing anti-trust lawsuit against Google in America were released after New York judge P. Kevin Castel decided Google’s argument that the filing needed to be redacted didn’t hold up. 

Facebook’s reporting also saw a sharp uplift, with advertising revenue up 33% for the three months ending in September, totalling US$28.3 billion, with overall revenue also up 35% compared to Q3 2020. This also comes in the week that Facebook is betting $10 billion in a venture into the Metaverse, with a new logo likely coming tomorrow too. 

News Corp also released its annual report, in which executive chairman Rupert Murdoch called it its “most profitable yet” citing success across each of its businesses. In a year where the company closed or moved a number of its regional publications to digital-only offerings locally, and also made a large number of redundancies, it praised Foxtel and REA as its prized assets, as Foxtel yesterday presented its 2022 Upfronts.

After the news, we speak with Amplified Intelligence’s Karen Nelson-Field, Hatched Media’s managing director Jack Byrne and head of planning, Andrew Pascoe about the future of planning and trading with attention as a metric; Amplified Intelligence’s upcoming technology offering, and how clients are already responding to Hatched implementing AttentionTrace.

In the news

  • Google and Facebook financials, the Metaverse and Google’s anti-trust case (02:40)
  • News Corp’s annual report and Foxtel’s 2022 Upfronts (21:28)

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