📓 The Creativ Brief: Metacognition in Advertising
Paramount board resignations. Advertising up. Meta competes on AI. Consumers top streaming platforms. LA Kings game!
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Metacognition means to think about thinking.
The practice of metacognition seeks to understand how one thinks as it relates to one’s own habits, thoughts, and actions.
We commonly call it self-awareness - the uncanny ability we have to self-reflect on our own existence.
The novel branches of neuro and behavioral science have ascribed our innate human ability to learn by doing, collaborate in groups, and even story tell to metacognition.
This is because metacognition allows humans to empathize with one another. Self-awareness is a pro-social behavior that enables us to feel and understand the sentiments of others by reflecting on ourselves.
Metacognition is not gifted equally. A study cited in “Know Thyself: The Science of Self-awareness” by Stephen M. Fleming indicates that metacognitive ability is not correlated to IQ. This means that many high IQ people are painfully unaware of their own behavior, actions, or judgements. Inversely, many empaths can’t solve a math problem.
In marketing, metacognition is a superpower. Empathy - putting oneself in another’s shoes - requires self-reflection, analysis of a set of human experiences, and realizations on the nature of shared human experience.
And if one knows how others think or feel, then one can influence them.
3 Stories Dominating Media and Tech Headlines
Four members of Paramount Global's board are expected to resign as the company discusses a potential merger with Skydance Media. The expected departures include former Spotify executive Dawn Ostroff, Sony Entertainment ex-president Nicole Seligman, Redstone attorney Rob Klieger, and investment banker Frederick Terrell.
Why it matters: The deal signifies an ongoing trend of major entertainment companies seeking mergers and acquisitions to strengthen their market position, expand content libraries, and fend off competition.
Despite industry uncertainties, advertisers are increasing their spending on online advertising. Advertisers in the US spent a record $225 billion on digital advertising last year, as reported by the Interactive Advertising Bureau in collaboration with PwC, marking a 7.3% increase year over year.
Why it matters: This robust spending indicates advertisers' confidence in digital platforms despite challenges such as proposed privacy legislation and the loss of attribution, highlighting the evolving landscape shaped by privacy-focused initiatives from major tech players like Google and Apple.
Meta Platforms has unveiled early versions of its latest large language model, Llama 3, and an image generator, integrated into its virtual assistant Meta AI, as it competes with OpenAI in the generative AI market. Meta's new models aim to enhance the capabilities of its virtual assistant across its platforms, challenging competitors like Microsoft-backed OpenAI's ChatGPT. These advancements come as Meta intensifies efforts to deploy generative AI products to its vast user base.
Why it matters: The collaboration with Google and expansion into global markets signal Meta's strategic efforts to leverage AI technology to enhance user experiences and engagement worldwide, amidst increasing regulatory scrutiny and competition in the tech industry.
Creativ Spotlight - NHRL Builder Spotlight
Checkout this spotlight on University of Cincinnati's Jacob Hoffman, the creative force behind one of NHRL's most formidable fighting robots!
UC’s Ground Floor Makerspace births innovative robots for NHRL | University of Cincinnati
Stat of the Week - TV Viewers’ Top Networks or Streaming Platforms
The TV networks and streaming platforms which were cited as being most prominent within consumers’ top 5 choices in 2024 are Netflix (40%), followed by Prime Video (31%), Hulu (25%), Disney+ (18%), and Max (15%).
While Netflix led the market in popularity for consumers in 2021 and 2024, Prime video made the largest jump in popularity in the 3 year period with a 14% increase in consumers placing it in their top 5 platforms.
Streaming platforms are competing more than ever to lead the pack in content acquisition, original programming, and user engagement. As competition increases for streaming IP among the major players, expect the CTV advertising market to follow suit.
One Fun Thing - NHRL comes to LA, meets MOCEAN
Creativ Strategies welcomed our east coast friends, Kelly Biderman and Christopher Moran, from Havoc Robotics for a brunch by sea in Santa Monica!
Then we skated to a LA Kings game to meet up with Brent Lang of MOCEAN. Our executive group talked ideas, angles, visions, and strategies over wings and beers!
A great pleasure to connect with our clients and watch sports together!