Marketing IQ #2: Netflix stock, Josh Hader’s tweets + PR fails
In episode 2 of the Marketing IQ Podcast, Ken and Sam are joined by Andy Larsen (VP/Director of Public Relations). They break down recent national marketing stories, including the Netflix stock slide, Josh Hader’s controversial tweets, and PR fails from 2018. On a local level, Milwaukee’s recent media spotlight in both Vogue and The Economist are analyzed.
1) Netflix stock lags with subscriber numbers – https://www.washingtonpost.com/business/2018/07/17/netflix-was-great-disruptor-is-it-about-be-disrupted-itself/?utm_term=.7bed84d6351c
Netflix forecasted it would add 1.2 million new U.S. subscribers in the second quarter but signed up only 674,000, plunging it’s stock 14%. The company is facing fierce competition from Amazon, Hulu, Google, and is showing the most growth from outside the US in the past few quarters. History shows that the media giant will rebound even stronger, but competition for in the streaming space continues to grow.
2) Josh Hader’s tweets
Josh Hader’s inappropriate tweets from 2011 and 2012 surfaced during the MLB All-Star game. The Milwaukee Brewers star is learning a valuable lesson in controlling social media and digital presences as he answers for his actions. As the next generation of athletes and celebrities have grown up with social media accounts, this might be only the start of more controversy to come.
3) Top PR fails from 2018(so far) – https://www.prdaily.com/Main/Articles/24720.aspx
These top blunders from 2018 provide good laughs and great takeaways for brands.
- IHOP recently changed their name to International House of Burgers in a bizarre stunt. Foursquare reports indicated no rise in foot traffic to any locations, while consumers skewered the brand for their attempt. Not all exposure is good exposure when the quality of experience does not match the campaign.
- Doritos introduced their new lady chip earlier this year. Their CEO stated that women “don’t like to crunch too loudly in public… they don’t lick their fingers generously, and they don’t like to pour the little broken pieces and the flavor into their mouth.” Consumers found this as a hollow, insensitive attempt at a new product, teaching brands to understand the climate before they try to offer a solution.
Milwaukee in the media
Milwaukee was spotlighted in both Vogue and the Economist. The recent praise has boosted the awareness and perception of the once-rust belt Midwestern city. Along with a morale boost to its residents, this public relations buzz can generate real tourism traffic in the form of overnight stays and increased spending at local businesses.