The Coca-Cola Company called out a growing reliance on digital marketing initiatives to connect with consumers on a call discussing first-quarter earnings. The company saw organic revenue up 12 percent year-over-year over the period, largely driven by higher prices.
The soft drink giant highlighted its work with public relations/advertising giant WPP, which was named global marketing network partner in 2021, in areas like personalization and collaborations. A Coke Studio concept focused on live digital music experiences has seen strong engagement, with the latest season drawing over 1 billion streams.
Coke Studio has scaled to 30 markets and become an "always-on" program, CEO James Quincey said. Executives also pointed to a new partnership with ChatGPT developer OpenAI and consultant Bain & Company as helping build a bridge with groups like Gen Z, though they did not detail specific results.
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