Rachel, what does it add to your marketers who want to spend time on these companies? Yeah, the announcement that Mattel made around what they call Mehta Gen video is pretty big because the number one barrier to advertising is creative and the fastest growing ad platforms are ones that are centered around short form video. So the fact that they're now going to create solutions that democratize video creation, it should boon to them to get more ad dollars, not just from big Fortune 1000 brands, but really all of the SMB businesses. And that's the long tail of advertising that's really going to propel method's growth forward, but go into this visual that we see now. Impressions, commerce impressions. You're saying basically matter is driving two thirds of social traffic on Mac. So it's already a winning formula from your perspective. It absolutely is. But to put this slide into context, between 2023 and 2024, we've seen a 10% growth in brand traffic in Meta.

We've seen a 190% growth in brand traffic and TikTok. So if Meta wants to continue to have this huge lead in front of platforms like TikTok and Google, it needs to continue to make investments in their platform. They cannot rest on their laurels. And that's why I'm personally very proud of Meta for recognizing that they need to make deep advancements in AI to continue to lower the barrier to entry for advertisers. Rachel, let's go back to Meta and that news for a minute because you understand the importance of technology from the advertiser's perspective, right? The basics of it are this new feature can turn a static image into a video ad. Simple. But I think Meta is starting to get a lot of credit for the real-world progress it's making in AI. Just your reaction to that basic idea and what you think it will do to move the path forward for advertisers. Yeah, absolutely. So at.

To put this into context, advertisers can spend somewhere between 10% of their overall marketing investments on creative. But that's just in the cost of creative. The amount of hours that go into creating a video, approving a video up and down the totem pole, that's several people's jobs within an organization. So a simple solution like this might seem obvious and small, but it actually can change marketing and advertising as we know it. It also could create a rippling effect in terms of headcount. You might need fewer marketers with tools like this. So it's a really big deal in the advertising industry. The flip side is for Fortune 1000 brands when it comes to being creative, they do have two major concerns. Number one is copyright violation. And number two is data privacy. So there is a difference. When you talk to a marketer that's running a business that's doing $50 million revenue versus when you talk to a marketer that's running a business, doing $1,000,000,000 in revenue.

So, Matt is going to have some work to do with the major advertisers to assuage concerns around copyright and data privacy. I think we've got to move on a little bit to Amazon's Prime Day. I know that at home, Prime Day is going to be big. So, I've got a few things I've got to get for other people. Let's be honest, it's completely insane. Why is Amazon Prime Day window important for you in your platform? Yeah, absolutely. So, Amazon Prime Day has now become a tentpole moment, not just within the U.S., but globally. It's a day to really move a lot of excess supply and bring value to consumers in 2024. This is really important. On any given day at McMath this year, we've seen a 20% decline in basket sizes. You've now seen this play out in public earnings of mass consumer product companies. Volume sales are down.

Why? Because the last few years, major mass consumer product companies have taken price hikes, and now consumers are fighting back with their wallets. What Amazon Prime Day is going to show us today and tomorrow is how willing consumers are going to spend during this year's holiday season. There's been inflation, there's been price hikes. But on the other side of the equation, the Fed dropping interest rates and hopefully doing that again in November and December brings optimism to consumers.

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Meta Adds AI Advertising Video Features

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