As we wait for the California Senate to hear and ultimately vote on the consequential California Journalism Preservation Act this session, similar legislation is being proposed in Illinois, where the efforts are already being hailed as “the most ambitious package of local journalism policy.”
Introduced by Senator Steve Stadelman last week, the Journalism Preservation Act (SB 3591) calls for tech companies to pay a usage fee to local news organizations for their work, 70% of which would then be required to be invested into journalism jobs.
Retail media ad spend will make up over one-fifth of total US ad spending by 2027, per our forecast. Social media will maintain its position as second-biggest ad channel through 2027, though not by much.
Retail media’s rise and impact on the marketing landscape has been undeniable and it shows no signs of dying down. It’s going to be the fastest-growing ad channel across media through 2027 (according to Insider Intelligence), making it bigger than connected TV, digital audio and traditional television advertising combined in the next few years. Recognizing its growth, omnichannel marketing platform Skai has produced a “State of Retail Media” report the past few years to help marketers understand trends driving the channel, as well as current and future retail media challenges and strategies.
The death of third-party cookies in 2024 will leave a hole in the marketer’s arsenal, but the change also represents a big opportunity.