Quick hits from the past 7 days on digital and social (in no particular order).
Even Lego is laying off people and going digital
Lego recently announced that it's laying off 8 percent of it's workforce, and doing what all companies are doing - pivoting to digital. This comes after the company reported a fall in sales for the first time in more than a decade (pretty damn good to have had such a good record). "We have now pressed the reset-button for the entire group," said Jorgen Vig Knudstorp, chairman of Lego, to Reuters.
WHY THIS MATTERS:
It's about time (and probably too late for many) that people realise that digital isn't a fad and it isn't going away. No matter how much success you have, digital is going to eventually (if it hasn't already) impact your business (and your entire industry). Make the change before it's too late.
WhatsApp is making moves, and brands need to start paying attention
The Facebook-owned chat program is awesome, and a hell of a lot of people are using it. Importantly, it isn't currently making any money for the company, but things are being put in place to change that. Some new features are being designed specifically for business-to-consumer messaging, although it's less clear what these might eventually be (at a minimum this will be chat bots). For the time being, this is all free, but we'll have to wait and see.
WHY THIS MATTERS:
It's got 1B+ daily users. It was bought for USD19B for a reason, and it was only a matter of time till Facebook found a way to monetise. This might not happen for another year or two, but in that time the user base is likely going to increase further, and the revenue potential is massive. Buy FB stock now!
YouTube pushes out more features and focuses on live streaming
The video platform is putting in measures to make live streaming better (essentially removing latency) - LIVE is going to be a lot more live and less 'slightly delayed'. It's also going to allowing streaming directly from iPhones and iPads, allowing users to share their screen (watch them play Candy Crush, which is still awesome, for example). It's also putting in place more moderation options (trolls - please find a new way to annoy people, we have faith in your abilities).
WHY THIS MATTERS: Content, and good content is rare. And with so much of it being available on-demand, the most valuable (and can't miss content) is LIVE content.