How Instagram aims to chip away at TikTok

Ad dollars aren’t stretching as far as expected. Magna just cut its 2024 U.S. ad market growth forecast from 5.2% to 4.4%, blaming inflation, global tensions, and shifting consumer habits. The Hollywood Reporter’s Alex Weprin reports that TV ad revenue is taking a hit, but digital platforms like retail media and streaming are still thriving.

Well, that was fast—TikTok is already pulling the plug on its Notes app. Launched as a photo-sharing alternative to Instagram, it never really took off. As Andrew Hutchinson reports for Social Media Today, this move shows just how tough it is to shake up the social media scene.

Despite legal and political hurdles, TikTok isn’t going anywhere. As The New York Times' Brian X. Chen reports, the platform remains a major player in digital culture, making it a must-use for brands and creators—at least for now.

TikTok without new memes? Feels weird, right? The platform is facing a creativity slowdown, with fewer fresh trends emerging. Fast Company’s Eve Upton-Clark dives into why—blame algorithm tweaks, content fatigue, and maybe even too much brand involvement.

Instagram isn’t backing down from the TikTok battle—it’s doubling down on Reels. With smarter discovery tools and better ways for creators to make money, the platform hopes to keep users hooked. As The Hollywood Reporter’s Caitlin Huston notes, Instagram is leaning into AI and revenue-sharing to stay in the game.

Major brands like The North Face and Nike’s Jordan brand are turning to LinkedIn to find agency partners, bypassing traditional selection methods. Lindsay Rittenhouse for Ad Age explores how this shift streamlines the process and broadens opportunities but also raises concerns about the commoditization of creative services.

ChatGPT just got a major upgrade—OpenAI now lets users generate and tweak AI images right inside the chat. It’s a big step for seamless content creation, but as Fast Company’s Mark Sullivan points out, it also brings up concerns about ethics and potential misuse.

50 Cent just scored another big win—this time in Shreveport. His G-Unit Film & Television company got the green light to lease the StageWorks building, adding to an earlier deal for Millennium Studios. Trace William Cowen for Complex notes that this expansion strengthens the 50’s entertainment empire. KSLA News reports the move will bring jobs, economic growth, and a fresh spotlight to the city, all while saving local taxpayers about $50K a year. For 50, it’s more than business—it’s about building a lasting legacy.

Gen Z’s obsession with memes is pushing brands to rethink their marketing strategies, leveraging humor and cultural relevance to stay connected. As Beatriz Zambrano reports in Ad Age, brands that authentically tap into meme culture can drive engagement, while forced attempts risk alienating their audience.

Big changes are shaking up Hollywood, and talent agencies aren’t immune. Eriq Gardner for Puck dives into the internal drama at WME, where leadership shake-ups and mounting pressure to stay relevant could determine its future. If they don’t adapt, they might get left behind.