Hi! Welcome to the Insider Advertising daily for October 1. I’m Tanya Dua, a senior advertising reporter at Business Insider, filling in for my colleague Lauren Johnson while she’s away this week. Subscribe here to get this newsletter in your inbox every weekday. Send me feedback or tips at firstname.lastname@example.org.
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 laid off marketing staff and named a new CMO after internal controversy over Black Lives Matter
- 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 CMO on why the brewer is teaming up with Coca-Cola as it plans to dominate the hard seltzer segment
- 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.”
Other stories we’re reading:
- 5 toughest interview questions asked by strategic communications firms like WPP’s Finsbury and Publicis’ Kekst CNC, according to insiders (Business Insider)
- What big companies that acquire startups get wrong, according to Walmart’s e-commerce head who successfully sold 3 startups including Quidsi and Jet.com (Business Insider)
- Facebook removes dozens of Trump ads that falsely blamed refugees for spread of COVID-19 (Business Insider)
- Samsung launches self-serve ad platform to take next steps in connected TV (Ad Age)
- CMO hirings set record pace, even during the pandemic (Ad Age)