Four car brands take part in ThinkTV study
Four automotive brands will take part in the second phase of ThinkTV's study into media return on investment, Payback Australia. The manufacturers will each provide three years of raw campaign and sales data to Ebiquity to assess which channels provided the greatest ROI. The brands have an advertising budget of more than $80 million annually and include a mix of large and smaller manufacturers. Results are expected in May, providing quantitative insights into the effectiveness of the local automotive category’s $700 million-plus annual media spend.
Snapchat’s soaring IPO
Snap, the parent company of Snapchat, made a stellar debut on the New York Stock Exchange yesterday. After pricing the IPO at $17 per share, the stock opened at $24. It then closed the day at $24.51, a 44% premium to the people who bought it the day before, valuing the business at approximately $28 billion.The debut draws more similarities to Twitter’s, which went public in 2013. The company saw a solid first day of trading, but then saw a lot of volatility in the following months.
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