From the rising CPG marketer investment in digital advertising to the average base salary of a Walmart store manager, these are the data points we’re paying attention to right now.
$48.8 billion
The amount that the CPG industry is projected to spend on digital advertising in 2024, marking the strongest rise in three years and making the category second only to retail in digital ad spend, according to Insider Intelligence / eMarketer.
$200
The amount that restaurant chain Applebee’s is charging for a new annual subscription date-night pass, per CNN Business. The pass will cover a year of weekly date nights, including $30 of food and non-alcoholic drinks each week from Feb. 1, 2024, through Jan. 31, 2025.
$2 billion
The approximate annual revenue of Ohio-based health system Summa Health, which venture capital firm General Catalyst announced this week it would acquire through its newly formed Health Assurance Transformation Corporation (HATCo), Healthcare Brew reports. The deal — the financial terms of which have not been revealed — will mark the first time a VC firm has purchased a U.S. health system.
10 minutes
The length of time after which Instagram will start to politely encourage late-night teen users to close the app, per TechCrunch. These new “nighttime nudges,” as Meta calls them, are designed to encourage younger generations to prioritize sleep.
21%
The share of U.S. adults 21 and older who are participating in this year’s Dry January public health initiative, per a new Morning Consult survey, as demand continues to grow for non-alcoholic and low-alcohol beverages. This marks an increase of 6% over 2023. (More from Quad on this topic: “Spirited choices: marketing non-alcoholic beverages in a boozy world.”)
68 cents
The cost of a first-class stamp as of Sunday, marking the third U.S. Postal Service (USPS) rate hike in 12 months. In a statement, USPS attributed the rate increase to the continuation of “inflationary pressures on operating expenses.” (More from Quad on this topic: “How direct marketers can cope with the 2024 USPS rate hikes.”)
$5.8 billion
The amount offered by investment firms Arkhouse Management and Brigade Capital Management to Macy’s to buy out the retailer, per ABC News. (Macy’s rejected the proposal.)
$517 million
The amount that fast-fashion brand/retailer Temu spent on national advertising in the U.S. from September through December 2023, according to MediaRadar, per Modern Retail.
$128,000
The new average base salary that Walmart announced it will begin paying its store managers as of Feb. 1 — up from $117,000 — per USA Today.
$5 billion
The total amount that Netflix will pay to acquire the exclusive media rights to WWE’s pro wrestling show “Monday Night Raw,” marking an end to the show’s partnership with USA Network after this year, per Variety. The 10-year deal, which begins in 2025, will make Netflix the exclusive home of “Raw” in the U.S., Canada, the U.K., Latin America and other territories.
