Palm Beach, FL – November 18, 2020 – The growth of the Influencer Marketing industry has been steady for the last several years and is expected to continue significant growth over the next years to come. influencer marketing is an increasingly popular form of marketing based on the concept that people are more likely to buy a product or a service influenced by the recommendation of an influencer. It focuses on identifying individuals with influence over potential buyers and orientates marketing activities around these influencers. This influencer can be a friend or family member, or a so-called value-added influencer, such as a celebrity, journalist or industry expert. In fact, in a 2017 survey among brand strategists and marketers regarding the role of influencer marketing in an organization, 58 percent of respondents expressed a belief that influencer marketing will be integrated in all marketing activities within the following three years. In 2018, a report from Statista said that the popularity of influencer marketing on Instagram is increasing at such a fast pace that the global market is expected to grow from 1.3 billion U.S. dollars in 2018 to nearly twice the that amount by 2020. At the same time the number of brand sponsored influencer posts on the social media platform is also expected to double, surpassing six billion in 2020. A subsequent Statista report raised the projections saying that global spending on Instagram influencer marketing reached 5.67 billion U.S dollars and projected that the figure will further grow to 8.08 billion by the end of 2020. Active companies in the industry making moves include: Tongji Healthcare Group, Inc. (OTCPK: TONJ), Facebook, Inc. (NASDAQ: FB), Twitter, Inc. (NYSE: TWTR), Baidu, Inc. (NASDAQ: BIDU), JOYY Inc. (NASDAQ: YY).
A report from Mediakix said that the influencer marketing industry global ad spend is projected to reach $5-$10 billion market in 2020… and a later report from the same source, again projected higher revenues saying that: “As influencers become more plentiful and proven, brand dollars have flooded into the space. Brands are set to spend up to $15 billion on influencer marketing by 2022.” The report continued: “Although influencer marketing seemingly became popular overnight, many brand-influencer advertising sponsorships started as early as 10 years ago. What started with popular bloggers and blog advertising has now spread into other influencer channels including Snapchat, Instagram, and YouTube. As viewership, audiences, and social platform growth continues to rise, so too will ad dollars seeking to capitalize on the untapped reach and exposure of these marketing channels.”
Tongji Healthcare Group, Inc. (OTCPK: TONJ) BREAKING NEWS: Tongji Healthcare Closes Acquisition of “The Clubhouse” Social Media Influencer Firm with Over 90M Followers – Tongji Healthcare Group is excited to announce the closing of the acquisition of West of Hudson Group Inc., the sole owner of “The Clubhouse”, a collection of scenic mansions in Southern California that houses some of the most prominent and widely followed social media influencers, together carrying an estimated follower base in excess of 90 million . The acquisition closed on November 12, 2020.
On November 2, 2020, the Company filed a Certificate of Amendment with the Secretary of State of the State of Nevada to amend the Company’s Articles of Incorporation to change the Company’s name from “Tongji Healthcare Group, Inc.” to “Clubhouse Media Group, Inc.,” subject to FINRA’s approval.
“We believe The Clubhouse has significant proprietary value that can be tapped in service of either deals with outside brands or the popularization and expansion of our own in-house branding projects,” commented Amir Ben-Yohanan, Tongji’s CEO.
The Clubhouse is an established network of three social media content creation houses (“Clubhouse BH”, “Clubhouse Europe”, and “Not a Content House”) that has already received organic media coverage from the New York Times, Business Insider, and Forbes.
As a result of the acquisition, the Company also acquired West of Hudson Group Inc.’s two operating subsidiaries: WOH Brands, LLC, a content-creation studio, social media marketing company, technology developer, and brand incubator, and Doiyen, LLC, a talent management company that provides representation to Clubhouse influencers.
Management notes that industry trends point to the increasing dominance of social media influencers in establishing market positioning and leadership among new consumer brands, with Zenith recently predicting global social media ad spend to gain 20% in 2020 to reach an estimated $84 billion. According to Zenith’s data, social media advertising will account for 13% of total global ad spend and rank as the third-largest advertising channel, behind TV and paid search. Social media ad spending surpassed print media ad spend last year for the first time ever, according to Zenith. That trend is almost universally expected to continue and even accelerate over coming years. The Company plans to expand The Clubhouse to additional locations, including internationally, and to continue to aggressively add to its team of popular influencers in the near future.
Additional industry related developments from around the markets:
Facebook, Inc. (NASDAQ: FB) recently reported financial results for the quarter ended September 30, 2020. “We had a strong quarter as people and businesses continue to rely on our services to stay connected and create economic opportunity during these tough times,” said Mark Zuckerberg, Facebook founder and CEO. “We continue to make significant investments in our products and hiring in order to deliver new and meaningful experiences for our community around the world.”
As expected, in the third quarter of 2020, we saw Facebook DAUs and MAUs in the US & Canada decline slightly from the second quarter 2020 levels which were elevated due to the impact of the COVID-19 pandemic. In the fourth quarter of 2020, we expect this trend to continue and that the number of DAUs and MAUs in the US & Canada will be flat or slightly down compared to the third quarter of 2020.
We expect our fourth quarter 2020 year-over-year ad revenue growth rate to be higher than our reported third quarter 2020 rate, driven by continued strong advertiser demand during the holiday season. Additionally, Oculus Quest 2 orders have been strong which should benefit Other Revenue. We believe the pandemic has contributed to an acceleration in the shift of commerce from offline to online, and we experienced increasing demand for advertising as a result of this acceleration. Considering that online commerce is our largest ad vertical, a change in this trend could serve as a headwind to our 2021 ad revenue growth.”
Twitter, Inc. (NYSE: TWTR) recently announced financial results for its third quarter 2020. “We have grown our daily audience by 42 million in the last year as people all around the world come to Twitter to find out about the topics and events they care about most. I’m pleased mDAU grew 29% year over year to 187 million, driven by global conversation around current events and product improvements,” said Jack Dorsey , Twitter’s CEO.
“We’re helping people find trusted sources of information by better organizing and surfacing the topics and interests that bring people to Twitter.” “Advertisers significantly increased their investment on Twitter in Q3, engaging our larger audience around the return of events as well as increased and previously delayed product launches, driving revenue to $936 million , up 14% year over year,” said Ned Segal , Twitter’s CFO. “We also made progress on our brand and direct response products, with updated ad formats, improved measurement, and better prediction. We remain confident that our larger audience, coupled with ongoing revenue product improvements, new events and product launches, and the positive advertiser response to the choices we’ve made as we have grown the service, can drive great outcomes over time.”
JOYY Inc. (NASDAQ: YY) a global video-based social media platform, recently announced that the Company entered into definitive agreements with Baidu, Inc. (NASDAQ: BIDU). Pursuant to the agreements, Baidu will acquire JOYY’s domestic video-based entertainment live streaming business (“YY Live”), which includes the YY mobile app, YY.com website, and PC YY, among others, for an aggregate purchase price of approximately US$3.6 billion in cash, subject to certain adjustments. The closing of the transaction is subject to certain conditions and is currently expected to occur in the first half of 2021.
Mr. David Xueling Li, Chairman and Chief Executive Officer of the Company, commented, “As a pioneer in China’s live streaming industry, JOYY has been deeply engaged in the live streaming business for many years. YY Live is a leading pan-entertainment live streaming platform in China and thus possesses a comprehensive system of operational procedures as well as a full range of domain expertise related to the development of live streaming ecosystems, innovation of live streaming technologies, content operations, monetization features, and systems for host incubation and host development. As the largest integrated information and knowledge-focused internet service provider in China, Baidu has built an extensive mobile internet ecosystem covering one billion monthly active users, including over 200 million daily active mobile users on its Baidu app alone. This transaction will allow YY Live to access Baidu’s massive user traffic, boost its business growth, and enhance its ecosystem’s monetization capabilities to unleash greater value in a larger ecosystem.”
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