Today’s news: Red Bull’s marketing shakeup, the nine main ways creators earn money, and why Molson Coors is making and distributing Topo Chico hard seltzer with Coca-Cola.
Red Bull CEO Dietrich Mateschitz Jan Woitas/Picture Alliance via Getty Images
Red Bull has laid off around 50 people in recent weeks and named a new CMO in Ken Turner, reports Patrick Coffee.
The employees affected were mostly in its culture marketing teams that oversaw projects tying the energy drink brand to hip-hop music and breakdancing culture.
The shakeup follows the firings of North America CEO Stefan Kozak and CMO Amy Taylor after leaks of an employee letter urging more support for Black Lives Matter and a racially offensive slide from a company meeting.
It’s not just brand promotions — creators make money off their online success in a number of ways, report Amanda Perelli, Sydney Bradley, and Dan Whateley.
From ads on videos to selling merchandise, and earning revenue through affiliate marketing, creators have several potential revenue streams across platforms like YouTube, Instagram, and TikTok.
Molson Coors is making Topo Chico its third hard seltzer launch of 2020 under a deal with Coca-Cola, reports Alex Bitter.
Topo Chico’s “really strong following,” stemming from its origins as a brand popular in Texas and Mexico, will help it grow across the US, Molson Coors CMO Michelle St. Jacques told Business Insider.
Beverage companies have piled onto hard seltzer, and St. Jacques said that the company’s strategy, which includes expanding into the category, “still holds true despite the pandemic.”
