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☆ Snap's courting of political advertisers is set to bring it a much-needed 2024 revenue boost
  + stars: | 2024-04-04 | by ( Lara O'Reilly | ) www.businessinsider.com   time to read: +5 min
Analysts at the World Advertising Research Center forecast Snap's ad revenue will grow by 13.7% to $5.2 billion this year, up from a 0.1% increase in 2023. The biggest year-over-year growth is set to come from political and advocacy advertisers in the US, ahead of the November presidential election, WARC said. Beyond the political ad boost, Snap's expected return to double-digit revenue growth will be driven by the platform leaning on artificial intelligence for ad optimization, an improved content experience, and user growth, according to WARC. To be sure, with US political ad spend forecast to exceed $12 billion in 2024, according to Emarketer, Snap will be a drop in the ocean for most political advertisers. Traditional media still takes the lion's share of political ad dollars.
Persons: WARC, Snap's, Biden, Alexandria Ocasio, Alex Brownsell, Brownsell, That's, Liz Bennett, Bennett, Danielle Butterfield, Butterfield, TikTok doesn't, It's, Seat's Bennett, Jason Poinsette, Evan Spiegel Organizations: Advertising Research, Business, Republican National Committee, Google, ESPN, Meta, USA Locations: Alexandria, Texas, Los Angeles
☆ These four trends are shaping the gun industry
  + stars: | 2023-08-27 | by ( Stefan Sykes | ) www.cnbc.com   time to read: +7 min
Here are four trends that are shaping the gun industry today:Market normalizationSeveral companies in the gun market are slowing down production and slashing prices as they combat material cost increases and waning demand for their weapons. Gun sales typically see a spike during presidential elections, Dionisio added. Investors in Biofire include venture capitalist Ron Conway and Peter Thiel's Founders Fund Biofire's smart gun comes as gun manufacturers increasingly look for different materials and technologies to make their products more appealing to consumers. "Smart guns can ensure that guns are accessible by their owners and no one else," said Nick Suplina, senior vice president for law and policy at Everytown, who has tested Biofire's smart gun. First-time gun purchasers during the pandemic, according to the study, were younger than previous, pre-pandemic U.S. gun owners.
Persons: Spencer Platt, Smith, Sturm, NSSF, Rommel Dionisio, Mark Smith, Christopher J, Killoy, Capital's Dionisio, Dionisio, Kai Kloepfer, Kloepfer, Biofire, they'll, Ron Conway, Peter Thiel's, Mark Oliva, Oliva, Nick Suplina, Matthew Miller, NORC, NSSF's Oliva Organizations: Getty, Wesson, Ruger, Company, Smith, Shooting Sports, Aegis Capital, CNBC, Smith & Wesson, Ruger & Company, Fund, Shooting Sports Foundation, Gun Safety, University of Chicago, America Locations: Monroe , Pennsylvania, U.S, Biofire, it's
☆ Gun companies reckon with declining demand after pandemic surge
  + stars: | 2023-01-18 | by ( Stefan Sykes | ) www.cnbc.com   time to read: +4 min
American Outdoor Brands and Vista Outdoor have reported weaker sales in their shooting categories of late. But the past year has seen gun sales fall precipitously as demand wanes. Sturm, Ruger & Company did not immediately respond to CNBC's request for comment. Other major gun companies including American Outdoor Brands and Vista Outdoor, which purchased Remington Ammunition out of bankruptcy in late 2020, are seeing similar declines in gun sales. Vista Outdoor reported a sales decline of 4% to $432 million for its sporting products, which includes its Remington acquisition.
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