Let's Talk Reddit, OmniPG and Soto

Breaking down what mega contracts mean for the future of sports media, and whether agencies can really play in AI

One of the more fascinating companies in digital media right now has to be Reddit, which for so many reasons, it should have gone the way of Tumblr. It’s old, it’s text-centric, it’s mostly community, it’s unfiltered, it was long associated with the ‘dark corners’ of the web. It was even acquired by a magazine company, which surely should have ruined the platform.

Yet Reddit is not only enduring, but it’s on a roll, backed by a highly valuable deal with Google, just as search promises to undergo massive change. Revenue and user growth are way up. The company recently brought on Mike Romoff as its Chief Revenue Officer - and I was lucky enough to have Mike on my podcast this week to take me through all that’s going on.

“I think in many ways, Reddit's been doing its thing for a long time and the world has moved closer to Reddit,” he said.

Take a listen here:

Meanwhile, I also recently chatted with Justin Rosen, SVP, Data & Insights, Ampersand (as part of my multi-part series with Blockgraph) about how he’s trying to bring more local and small businesses to connected TV, and why these brands’ tech and measurement needs are so different from the general market.

It seems that TV platforms and TV metrics companies, have a lot of work to do to capture the full local opportunity.

Some highlights:

• “Marketers may understand how to do one-to-one targeting in traditional TV,” he said. “They may understand how to do one-to-one targeting in CTV. But to do that holistically is one of the biggest challenges moving forward.”

• In addition, “the pace of fragmentation is increasing. And when that happens, it becomes harder to build reach and navigate and really understand what actually happened with your media investment across everything you've done. And I think that becomes a little bit bewildering for the average marketer.”

Check out the full interview here:

A few more quick hits from me on some of the news this week:

1)Juan Soto just signed a $756 million deal with the Mets. Yes, I’m bitter. But also curious about where this is headed. When it comes to Major League Baseball, just two years ago, Aaron Judge inked what seemed like an insane nine-year, $360 million deal. Then last year, the Dodgers locked in Japanese superstar Shohei Ohtani for a staggering $700 million deal (at least he plays two positions!). Now Soto.

My questions are:

• How long can this go on in a sport that doesn’t have great TV ratings nor the kind of mega national TV rights deal in the works like the NBA or NFL?

• I thought that the regional sports network (RSN) market was imploding. Is that going to impact player salaries, particularly in baseball, at some point soon? Admittedly, I’m a bit out of my depth here. I realize the Mets own their own RSN - but even its reach is going to keep shrinking as cable’s does. And in smaller markets, teams are going back to local over-the-air TV. When does this catch up to the players?

“Certainly there is a growing bifurcation between haves and have nots in baseball,” said Lightshed partner Brandon Ross. “Most of it is tied to revenue disparity but clearly the depth of an owner’s pockets can matter. A lot.”

It’s not going to be much of a sport if only like four to five teams can play it.—

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2)I’m not going to pretend to be the world’s leading expert on the Omnicom/IPG deal, other than it feels less strategic and more defensive. When this closes, all these agencies can cut costs and pool technology to attempt to compete in the coming AI-driven era. I still wonder if any of the holding companies will be able to compete with Big Tech on this front.

• As Sam Applebaum, EVP, Within put it recently, what agency practitioners actually do - and the kind of people they need to bring in, is already changing rapidly in the advent of AI-driven media buying tools like Google’s Performance Max.

• However, as you’ll see in my Q&A with Rachel Cascisa, VP of Platform Adoption at Epsilon, an AI/Algorithm arms race may not be one that every brands or agency can realistically compete in on their own.

Note - this interview is part of a multi-part series with my sponsor Epsilon.

Next in Media: When it comes to using predictive AI in their media or data strategies, how fast should brands be moving?

Cascisa: Brands should always start with a solid and comprehensive data strategy. This is the foundation. From there, they should seek out partners with significant experience in predictive AI. It’s not something that can be picked up just because it’s trending. To fully unlock the potential of your data, you need an experienced partner who has been working with predictive AI for a long time.

Next in Media: How much should brands and agencies rely on their partners when adopting AI? Where do they need to bring their own expertise?

Cascisa: When it comes to the technology stack, brands should definitely rely on external partners. Building AI capabilities in-house is expensive and time-consuming. However, brands need to bring their own expertise in terms of data strategy. They should also have a clear understanding of what they want to achieve with AI: What goals are they aiming for? What do they want to accomplish? If the strategy for operationalizing insights from AI isn’t in place, then the investment can easily go to waste.

Next in Media: as AI continues to evolve, what role do you see for agencies? Will their role change, and how?

Cascisa: Agencies will remain a crucial part of the ecosystem. While AI can help with creative tasks, there’s still a need for human involvement. AI-generated content, like the strange combinations of images we sometimes see, still needs to be refined to adhere to brand standards and ensure it resonates with human audiences. Agencies are well-positioned to make sure that the AI-driven work aligns with the brand's objectives and creates the right consumer experience.

Next in Media: With the ongoing shift away from cookies, how are we doing on identity solutions? Do we need to worry about this, or will AI and contextual data solve the problem?

Cascisa: The issue of identity versus contextual data is more complex than it might seem. I don’t believe identity will ever be fully replaced by contextual. The more personalized an experience is, the more impactful it becomes. Contextual data can only go so far—especially for companies without strong identity solutions in place. Data-plus-identity is the path forward. Investing in solutions that offer both will help businesses perform better than those that only rely on contextual data.

Next in Media: As we look toward 2025, what questions should brands and marketers be asking themselves when considering AI and identity?

Cascisa: Instead of just asking how to build up your data, brands should ask, "What can our data do for us?" "How can we get the most out of it?" AI can amplify the value of your data, but it doesn’t replace the need for a solid identity strategy or contextual targeting. Brands should first be clear on their marketing strategy: What message do they want to convey? What emotions do they want to evoke in consumers? Once that’s clear, they can then look at the right partners who can help fill any gaps in their data, strategy, or technology.

Next in Media : Are there any other insights you think are critical for brands to keep in mind as they plan for the future?

Cascisa: Brands need to think beyond the basics like click-through rates or return on ad spend. With AI, identity, and data working together, there’s an opportunity to answer more complex questions that the industry hasn’t been well-equipped to address until now. The key is to look at the bigger picture and make sure that all elements—data, strategy, AI—are working together toward the same goals.