The MINT Issue 13 - May 16th

May 16, 2024

Consumers aren’t just using TikTok for social inspiration, they’re making purchases on the platform. TikTok Shop sold 68.1% of social shopping gross merchandise value in February 2024. (e-Marketer)
TikTok Shop now has more than 500,000 U.S.-based sellers just eight months after its Stateside debut, the ByteDance-owned company shares. The global TikTok Shop base now includes more than 15 million sellers worldwide. (Tubefilter)
Streaming services are facing retention issues: About 25% of subscribers to US streaming video services, or over 29 million users, canceled 3 or more streaming services over the past 2 years, as they increasingly jump between services in a cycle of “sub, binge, and cancel” (New York Times)
Amazon will account for 6.9% of all health and beauty sales this year. That’s a major leap from three years earlier when it accounted for just 4.4% of all sales in the category, and there's a significant runway for Amazon to capture a greater share of the market. (e-Marketer)
Disney Advertising is partnering with Walmart Connect to allow brands to target ads across Disney+ and Hulu using Walmart’s shopper data. Advertisers will also be able to measure the impact on store and e-commerce sales. (e-Marketer)
US digital audio ad spend will reach $7.12 billion this year, accounting for 40.4% of audio’s ad revenue. Although consumers will spend 21.4% of their total media time listening to audio, it will only claim 4.5% of total advertising spend in the US. (e-Marketer)
Consumers appear to be engaged with pause ads. Around half of streaming viewers have taken some action upon seeing a paused ad. Out of 1,600 TV consumers surveyed, 67% said they’d interacted with an ad that they could click on to receive information via an email or device, while explorable ads and “click to buy” ads also saw high engagement, at 62% and 58% each. (Lab Weekly)
The top 25% of U.S. adults on TikTok produce 98 percent of all publicly available content, and a typical user posts infrequently, if ever. (Pew Research Center)