2023 has brought a whole new range of crises for brands, and they remain as varied and challenging as ever, with companies facing challenges from both internal and external events.
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SVB vs. FTX
An interesting comparison to the SVB crisis is to look back at the FTX crisis at the end of last year.
The cryptocurrency exchange went bankrupt and its founder Sam Bankman-Fried came under federal investigation at the end of last year, and ultimately the level and engagement of coverage of that saga was remarkably similar to what was seen during the Silicon Valley Bank crisis.
Both FTX and SVB were written about roughly 70k times in a three-week period, and those stories received around 2.75 million engagements in each case.
FTX’s crisis went on longer than SVB’s, which has largely subsided in terms of media and public interest at the time of writing this report, whereas FTX’s even continued after this initial three-week period as Bankman-Fried faced charges and extradition based on the exchange’s actions.
Engagements to articles written about FTX and SVB
Public and media interest Interest in SVB vs ftx
Toyota avoids public backlash
By contrast, Toyota had relatively little public interest in its recall, despite being part of a recall of more than 100,000 cars.
Both media and public interest was way down compared to Tesla, with just 64 articles about the recall and 2.2k engagements to those articles.
RAV4 was the main recall, but Honda and Chevrolet were also mentioned alongside Toyota in the top articles.
Public and media interest in Toyota recall
M&M’s retired spokescandies
The big news in the culture wars at the end of January was that M&Ms had pulled its spokescandies from circulation after some backlash over a recent redesign.
This was met with almost instant mockery from all sides of the political spectrum, with conservative media triumphant over the decision to pause on the new ‘woke’ design, while mainstream media was largely just confused.
It eventually emerged that this was setting the stage for the company’s Super Bowl campaign, which ultimately failed to land and generated comparatively little public and media interest vs. the initial announcement.
Public and media interest in THE RETIRED SPOKESCANDIES
Data breaches were a major focus for the media in the early days of 2023, with more than 10,000 articles written that mentioned hacks of personal information.
These tended not to be hugely engaging for the public, however, with public interest barely rising over 180k engagements across these thousands of stories.
Public and media interest in DATA BREACHES IN 2023
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