Trend Report 3.23.21

This week, we heard from Natalie McGeeney about #SocialMedia trends.

It seems like every week there’s a new trend taking over social media. The invite-only Clubhouse App crossed it’s 1-year anniversary last week with over 13MM users as #Twitter and #Facebook are building out their own competitive platforms. TikTok added a new recipe integration, signaling the development of in-app business opportunities. Netflix also debuted their own TikTok style feature “Fast Laughs” – allowing consumers to flip through short clips for their content.

But, the biggest trend we’re seeing talked about on social media is #NFTs. Companies like Taco Bell, #Charmin, Pizza Hut, Bleacher Report and more are all jumping on the trend as a incremental revenue opportunity that’s fun and provides social engagement. Taco Bell created 5-pieces of digital taco art that sold out in 30 minutes with one item reselling for $20K. Although we’re still wrapping our head around someone spending $20K on a digital piece of art, we’re excited to see how #NFTs will evolve, especially in the entertainment industry.

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