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A new report by a watchdog group traces the ad exchanges profiting off low-quality obituaries riddled with disturbing errors, reports The Verge

General

Aug 7, 2024

Thousands of families have encountered fake obituaries of loved ones cluttering Google search results. These obituaries, often AI-generated, target ordinary people to generate ad revenue.

A report by watchdog Check My Ads revealed ad exchanges profiting from this obituary spam, with sites like HausaNew.com.ng and SarkariExam.com publishing inaccurate obituaries and hosting digital ads. Google and other ad firms have been implicated, with some taking action to address the issue.

TripleLift acknowledged their clients' ads appeared on these sites and initiated an internal investigation, while Google stated it would work to reduce the visibility of such spam.

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YouTube is testing a feature that lets creators use Google Gemini to brainstorm video ideas, reports TechCrunch

General

Aug 7, 2024

Artificial Intelligence

YouTube is testing a new feature called Brainstorm with Gemini, integrating Google Gemini to assist creators in brainstorming video ideas, titles, and thumbnails.

Announced via the Creator Insider channel, this feature is available to select creators in a limited experiment. YouTube will gather feedback before a wider rollout.

This tool, similar to an AI-powered content inspiration tool tested in May, aims to provide unique advantages over competing platforms like TikTok and Instagram. Creators can use YouTube Studio to access both the inspiration tool and Brainstorm with Gemini, enhancing their content creation process.

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Dentsu Integrates Merkury Platform With Quantcast, reports MediaPost

General

Aug 7, 2024

Cookie Deprecation

Dentsu has globally integrated the demand-side ad platform Quantcast with its Merkury data, identity, and insights platform. This partnership aims to enable precise audience targeting without relying on third-party cookies.

Clients can now access over 10,000 custom consumer data attributes to build audience profiles across CTV, desktop, and mobile devices. The integration is active for key Dentsu clients and is available in the UK, Australia, New Zealand, Italy, and Sweden, with plans for further expansion.

This move addresses challenges from cookie deprecation and heightened privacy regulations, according to Gerry Bavaro, Chief Strategy Officer of Merkury.

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Disney Earnings For Q2 2024 Show +3.7% YoY Revenue Growth, Net Income Up By +1957.5% YoY

+ 4% YoY Opinions

Earnings

Aug 7, 2024

FT reports:

The success of "Inside Out 2," which grossed over $1.5bn globally, boosted Disney's third-quarter earnings, improving confidence in Pixar. This, along with better performance from Disney+ and Hulu, increased the entertainment division's operating income to $1.2bn from $408mn a year earlier. Disney’s diluted earnings rose to $1.39 per share, surpassing expectations, with revenue increasing to $23.2bn.

However, Disney warned of slowing consumer demand at US theme parks, impacting revenues and operating income.

Despite this, Disney's streaming services reported a $47mn profit, a significant turnaround from a $512mn loss last year. CEO Bob Iger praised the entertainment segment's progress.

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Taboola Earnings For Q2 2024 Show +29.0% YoY Revenue Growth, Net Loss Down By -86.3% YoY

+ 29% YoY Opinions

Earnings

Aug 7, 2024

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Warner Bros. Discovery Earnings For Q2 2024 Show -6.2% YoY Revenue Decline, Net Loss Up By +722.0% YoY

-6% YoY Opinions

Earnings

Aug 7, 2024

CNBC reports:

Warner Bros. Discovery's stock fell by 9% after reporting a $9.1 billion write-down on its TV networks and missing revenue estimates. The company posted a loss per share of 36 cents versus the expected 22 cents, and revenue of $9.7 billion versus the expected $10.07 billion.

The write-down was due to a reevaluation of the TV networks' book value amidst declining traditional TV viewership and advertising shifts to digital and streaming platforms.

Despite this, Warner Bros. Discovery added 3.6 million streaming subscribers, totalling 103.3 million, and saw a significant increase in streaming ad revenue. The company remains focused on debt reduction and future growth in studios and streaming.

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Magnite Earnings For Q2 2024 Show +6.8% YoY Revenue Growth, Net Loss Down By -98.5% YoY

+ 7% YoY Opinions

Earnings

Aug 7, 2024

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Elon Musk’s X taken to court in Ireland for grabbing EU user data to train Grok without consent, reports TechCrunch

General

Aug 7, 2024

Elon Musk’s X is being sued in Ireland for using Europeans' data to train its Grok AI model without proper consent. The Irish Data Protection Commission (DPC) is seeking an injunction against Twitter International under Ireland's 2018 Data Protection Act.

The DPC believes X's actions pose an urgent risk to users' rights and freedoms. Despite prior regulatory pressures, X quietly began using user data without adequate notification or consent. The DPC's legal action may result in significant penalties if noncompliance is confirmed.

X has faced other recent legal challenges in the EU concerning data privacy and compliance with the Digital Services Act.

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Sony Officially Says It Won’t Bid for Paramount Global to Counter Skydance Deal, reports Variety

M&A

Aug 7, 2024

Sony has decided not to make a new offer for Paramount Global, preferring to let the latter proceed with its merger with Skydance Media. Hiroki Totoki, Sony Group’s president, COO, and CFO, stated that acquiring Paramount does not align with Sony's strategy and capital allocation.

In May, Sony and Apollo Global made a $26 billion nonbinding offer for Paramount, but later reconsidered. Paramount and Skydance announced a merger in July, with Paramount able to solicit better offers until August 21.

Sony reported a 10% increase in operating profit for Q1 fiscal 2024, with significant gains in its music and gaming divisions.

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WPP Earnings For H1 2024 Show +0.1% YoY Revenue Growth, Net Income Down By -4.8% YoY

+ 0% YoY Opinions

Earnings

Aug 7, 2024

British ad group WPP is selling its controlling stake in financial PR agency FGS Global to minority shareholder KKR for $775 million in cash, using the proceeds to reduce debt. The sale values FGS Global at $1.7 billion.

Announced alongside first-half results, WPP reported a drop in underlying revenue growth and downgraded its full-year expectations. CEO Mark Read described the sale as an "excellent outcome," allowing WPP to strengthen its balance sheet.

WPP has faced reduced spending by tech clients, weakness in China, and the loss of creative business for Pfizer. Shares in WPP dropped 1.2% following the announcement.

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Amazon Prime Video plots Hollywood expansion, reports Reuters

General

Aug 7, 2024

Mike Hopkins, head of Amazon Prime Video, has transformed the service from a mere perk to a major Hollywood player with its own film studio, theatrical distribution, and original content. Under his leadership, Prime Video has increased its investment in professional sports, original series, and movies featuring A-list celebrities. Amazon plans to expand its theatrical releases significantly by 2027.

Despite challenges, such as lagging behind Netflix and YouTube in viewership, Prime Video’s ad-supported model and partnerships with sports leagues have positioned it to capture a larger share of digital ad revenue.

The acquisition of MGM further strengthens Amazon's content library.

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Disney Says It Might Have to Pay Comcast up to $5 Billion More to Buy Out Hulu, reports Variety

M&A

Aug 7, 2024

Disney and Comcast are disputing Hulu's market value, potentially requiring Disney to pay up to $5 billion more to buy NBCUniversal's 33% stake. In December 2023, Disney paid $8.61 billion, representing one-third of Hulu's $27.5 billion guaranteed floor value set in 2019. However, their valuations diverge, with Disney's appraiser valuing it below the floor and NBCU's substantially higher.

Arbitration is underway to resolve the discrepancy. If NBCU's valuation is validated, Hulu could be valued around $40.8 billion. The final amount Disney pays will depend on the third appraiser's valuation.

Disney has already assumed operational control of Hulu.

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Fortune 500 brand ads seen next to porn & racial slurs, with IAS & DoubleVerify in the mix, reports The Drum

General

Aug 7, 2024

A report by Adalytics reveals that ads for major brands, including Meta, Microsoft, Procter & Gamble, Amazon, and Disney, have appeared on webpages featuring offensive content. Despite brands using pre-bid and post-bid safety measures, ads were found next to racial slurs, explicit sexual content, and violent imagery. These ads appeared on platforms like Fandom.com and other domains.

The findings highlight potential inadequacies in ad verification technologies and the need for increased transparency and robust brand safety measures. DoubleVerify refuted the claims, suggesting the report was engineered for a specific outcome.

The issue remains complex, requiring collaboration across stakeholders.

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Ad Buyers Rethink X Presence Following the Platform's GARM Lawsuit, reports AdWeek

General

Aug 7, 2024

X's new lawsuit against the Global Alliance of Responsible Media (GARM) and its members, including CVS Health, Mars, Orsted, and Unilever, has made advertisers reconsider their investment in the platform. X accuses GARM of influencing brands to boycott the platform, depriving it of ad revenue.

This legal action follows a conciliatory approach by Elon Musk at the Cannes Lions Festival, where he emphasised brand safety. Advertisers are now wary of the platform's volatility and the potential for lawsuits. Concerns also include X's operational capacity and its effectiveness in linking advertising with sales.

X's ad revenue has significantly declined since Musk's takeover.

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Amazon’s NFL Package Helped It Win NBA Rights Over Warner’s TNT, reports WSJ

General

Aug 6, 2024

The NBA rejected Warner Bros. Discovery's bid for media rights in favour of Amazon, leading to a legal dispute. Amazon's deal, including its NFL game broadcasts and guaranteed streaming reach, offered advantages Warner couldn't match. Warner's TNT, an NBA partner for over three decades, claimed the deal's structure was unfair and sued the NBA.

The NBA's agreement with Amazon, Disney, and NBC, valued at $77 billion over 11 years, starts after the 2024-2025 season. Warner is exploring other sports packages and considering a show featuring Charles Barkley on various sports.

The lawsuit's outcome could significantly impact both parties' future plans.

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YouTube Tests Less Disruptive Livestream Ads, reports MediaPost

General

Aug 6, 2024

Influencer Marketing

YouTube is testing a new picture-in-picture mid-roll ad format for live videos, aiming to be less disruptive to viewers. These ads will run alongside livestreams without halting the viewing experience.

Currently, ads on YouTube Live stop the stream for a full-screen ad. The new format allows viewers to continue watching live content, and streamers to generate revenue without losing audience attention. YouTube claims creators using automated mid-roll ads have seen a 20% increase in ad revenue per hour.

As YouTube Live viewership grows, with a 20.5% increase last quarter, it continues to gain market share from Twitch.

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Google Ads recovers from major reporting glitch, reports Search Engine Land

General

Aug 6, 2024

Google has largely resolved a major reporting issue on its advertising platform that exposed some advertisers to data from other Google Merchant Center accounts, raising privacy concerns. The problem began on July 30, was partially resolved by July 31, and saw most reporting services restored by August 4. By August 6, nearly all services were back, though some competitive metrics remain pending. Affected advertisers saw other accounts' products in their reports.

Google will contact impacted customers, issue credits, and has removed incorrect data.

The glitch, caused by an ads serving bug, underscores the importance of swift response to data privacy issues.

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Google phases out Smart Campaigns in favor of Performance Max, reports Search Engine Land

General

Aug 6, 2024

Artificial Intelligence

Google is discontinuing its Smart Campaigns and integrating their features into Performance Max campaigns. This shift signifies a broader push towards AI-driven, cross-platform advertising solutions, impacting advertisers who use Google's simplified campaign management tool.

Performance Max leverages AI and machine learning to optimise ad performance across Google's ecosystem, offering broader reach, AI-powered optimisation, and customised results based on business goals. Existing Smart Campaigns will be automatically upgraded to Performance Max.

Google claims this upgrade will enhance return on investment for advertisers. Further details about the transition will be provided in the coming months.

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Ahold Delhaize Taps Havas For Media, Cites Real-Time Data, reports MediaPost

General

Aug 6, 2024

Ahold Delhaize USA has appointed Havas Media Network (HMN) as the media agency of record for its grocery store brands Giant Food, The GIANT Company, Hannaford, and Stop & Shop.

While the billings were not disclosed, the companies stated that "real-time data will be at the centre" of the account.

HMN will manage strategy, planning, and activation for both traditional and digital media.

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Amazon upgrades its AI image generator, reports TechCrunch

General

Aug 6, 2024

Artificial Intelligence

Amazon has launched an enhanced version of its Titan Image Generator, Titan Image Generator v2, for AWS customers using the Bedrock generative AI platform.

The new model offers capabilities such as using reference images to guide generation, editing visuals, removing backgrounds, and generating variations. It can intelligently detect and segment multiple foreground objects, generate colour-conditioned images, and maintain a consistent aesthetic when fine-tuned with reference images.

Although Amazon is vague about the data used for training, it provides an indemnification policy against potential copyright issues. Amazon CEO Andy Jassy remains optimistic about the rapid growth of generative AI.

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UK faces resistance from X over taking down disinformation during riots, reports FT

General

Aug 6, 2024

British officials have faced resistance from X in removing posts deemed threats to national security, as Elon Musk criticised the UK and Sir Keir Starmer on the platform. The UK’s disinformation unit flagged concerning content, with Google, Meta, and TikTok responding quickly, but X has been less responsive.

Musk, a “free speech absolutist,” has made incendiary remarks about the UK government’s handling of recent far-right protests, suggesting “civil war is inevitable.”

The new Online Safety Act will soon enforce stricter guidelines for social media platforms, aiming to curb misinformation and harmful content.

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Nielsen and Innovid To Collaborate on Simplifying Cross-Media Advertising, reports NextTV

General

Aug 6, 2024

Nielsen has agreed to collaborate with Innovid, integrating Nielsen’s Nielsen One measurement product with Innovid’s cross-media ad-serving platform. This partnership aims to simplify the buying of convergent advertising by providing seamless workflow and improved measurement across platforms.

Nielsen CEO Karthik Rao highlighted the importance of capturing all audience engagement with content and ads. Innovid's CEO, Zvika Netter, emphasised that this collaboration will enhance transparency and accessibility in the TV ecosystem.

The companies will work on the technical integration of their systems over the coming months to achieve these goals.

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Reddit Earnings For Q2 2024 Show +53.6% YoY Revenue Growth, Net Loss Down By -75.4% YoY

+ 54% YoY Opinions

Earnings

Aug 6, 2024

Artificial Intelligence

Bloomberg reports:

Reddit Inc. anticipates steady revenue growth through new data licensing partnerships and advertising technology, projecting current-quarter sales between $290 million and $310 million, surpassing analysts' estimates.

Despite a 60% share increase since its March IPO, Reddit faces challenges in a competitive advertising market. The company reported quarterly revenue of $281.2 million, beating expectations, and aims to attract advertisers through partnerships with major sports leagues. Reddit plans to diversify by licensing data to AI firms, projecting over $60 million this year.

Reddit's daily active unique visitors rose 51% to 91.2 million, contributing to a reduced net loss of $10.1 million for the quarter.

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Fox Corp Earnings For Q2 2024 Show +2.0% YoY Revenue Growth, Net Income Down By -13.3% YoY

+ 2% YoY Opinions

Earnings

Aug 6, 2024

Reuters reports:

Fox Corp exceeded Wall Street expectations for quarterly profit and reported increased revenue, driven by steady demand for its Tubi streaming service.

Revenue rose by 2% to $3.09 billion, just below analysts' estimates. Affiliate fees grew by 5% across television and cable network segments. Fox's cable network programming, including Fox News and Fox Sports 1, saw a 2% revenue rise to $1.44 billion. Advertising revenue remained flat at $1.01 billion.

Fox anticipates benefiting from political advertising for the upcoming presidential election. Adjusted earnings were 90 cents per share, above the estimated 81 cents. Venu Sports, Fox's joint venture, will launch at $42.99 per month this autumn.

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Fox-Disney Sports JV Is the Last Straw, Fubo CEO Testifies, reports Bloomberg

General

Aug 6, 2024

FuboTV Inc. has urged a federal judge to block Fox Corp, Warner Bros. Discovery Inc., and Walt Disney Co. from launching a joint sports streaming service, arguing it would eliminate competition and drive up consumer prices. Fubo claims the venture would force competitors to bundle unwanted entertainment channels to access major sports networks like ESPN and Fox.

The service, Venu Sports, is set to launch this autumn at $42.99 per month.

While the defendants argue the service would increase competition and innovation, the US Justice Department plans to scrutinise the platform over potential consumer harm. The hearing continues in Manhattan.

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X sues major brands and ad industry group for antitrust, reports Axios

General

Aug 6, 2024

X (formerly Twitter) has filed a federal antitrust lawsuit against the advertising industry coalition GARM and its members, including CVS Health, Mars, Orsted, and Unilever. The lawsuit alleges that GARM abused its influence to unfairly discriminate against X, leading to an advertiser boycott.

GARM, created by the World Federation of Advertisers in 2019, sets brand safety standards for digital advertisers. The lawsuit, part of a broader effort by conservative entities against GARM, claims the boycott has significantly impacted X's advertising revenue, which has halved since Musk's acquisition in 2022.

X CEO Linda Yaccarino calls for industry reform to prevent such activities.

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Google monopoly ruling could help Apple defense in antitrust case, reports Reuters

General

Aug 6, 2024

Apple could benefit from the recent ruling against Google's search business as an illegal monopoly, which dismissed a claim that Google's ad tools disadvantaged Microsoft's Bing. This part of the ruling supports Apple's defence in its own antitrust case, emphasising that companies generally have no "duty to deal" with rivals.

U.S. District Judge Amit Mehta's decision not to require Google to accommodate competitors could aid Apple, which argues that its limitations on third-party developers are not anti-competitive.

Although Apple risks losing substantial revenue if Google is banned from paying to be the default search engine, the ruling might strengthen Apple's position against similar allegations.

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ByteDance joins OpenAI's Sora rivals with AI video app launch, reports Reuters

General

Aug 6, 2024

Artificial Intelligence

ByteDance has launched Jimeng AI, a software that generates videos from text prompts, expanding its entry into the growing text-to-video market. This follows OpenAI's introduction of a similar tool, Sora, earlier this year.

Available on both the Apple App Store and Android, Jimeng AI allows users to create images and AI videos through various subscription plans. Other Chinese tech firms like Kuaishou and Zhipu AI have also introduced similar models recently.

Jimeng AI is operated by ByteDance's Faceu Technology, which is known for the video editing app CapCut. Subscriptions range from 69 yuan monthly to 659 yuan annually.

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Media cuts persist amid ad market slowdown, AI fears, reports Axios

General

Aug 6, 2024

The media industry's struggle to regain advertising and subscription momentum continues, as evidenced by recent job cuts.

The Tampa Bay Times plans a 20% payroll reduction, Axios is laying off 50 employees, and Future will shut down several print magazines. GameStop will close Game Informer, the oldest gaming magazine in the U.S.

These cuts reflect a broader trend affecting major publications, exacerbated by a slowdown in the ad market and the rise of AI-driven search engines. Media companies are focusing on premium products to remain competitive, with leaner operations and a greater emphasis on distinctive, essential content.

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Netflix Is Lowering Ad Prices to Below $30, reports AdWeek

General

Aug 6, 2024

Netflix is lowering its ad prices, charging CPMs between $20 and $30, with specific rates of $20 for 15-second ads and $25 for 30-second ads. This follows a significant price drop from their initial $65 CPM in 2022.

The reduction coincides with Netflix's move into programmatic advertising, partnering with The Trade Desk, Google’s Display & Video 360, and Magnite. Programmatic inventory will generally be priced lower than direct purchases.

Despite the price cuts, Netflix remains competitive, especially compared to Amazon Prime Video's $26 CPM. Netflix's ad-supported tier has grown, yet it still lags behind Hulu, YouTube, and Amazon in U.S. connected TV ad spending.

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Disney raises streaming prices for Hulu, Disney+ and ESPN+, reports CNBC

General

Aug 6, 2024

Disney is increasing prices for its streaming platforms from mid-October. Disney+ basic will cost $9.99 and premium $15.99 per month. Hulu with ads will be $9.99, without ads $18.99, and Hulu Live TV plans will rise by $6. ESPN+ will cost $11.99 monthly.

Disney continues to promote bundles, including a new offer with Warner Bros. Discovery, combining Disney+, Hulu, and Max for $16.99 with ads or $29.99 ad-free. Additionally, Disney is adding ABC News Live and a preschool content playlist from September 4, with more curated playlists for premium subscribers.

Disney's fiscal Q3 earnings report is due Wednesday.

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In landmark Google ruling, a warning to companies about preserving evidence, reports Reuters

General

Aug 6, 2024

A landmark ruling on Monday determined that Google illegally monopolised web search and criticised the tech giant for obscuring potential evidence.

U.S. District Judge Amit Mehta in Washington, D.C., rebuked Google for failing to preserve internal chats and abusing legal communication protections but declined to formally sanction the company. The U.S. Justice Department had sought punishment for Google’s “systematic destruction” of employee messages and misuse of attorney-client privilege. Mehta noted that while he didn’t need to address Google’s evidence handling to rule on antitrust violations, companies must safeguard data or risk future sanctions.

Google plans to appeal the ruling.

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AI startup raises $25M, inks deals with major media companies, reports Axios

General

Aug 6, 2024

Artificial Intelligence

ProRata.ai, a generative AI startup, has secured licensing deals with major news and music companies, including Financial Times, Axel Springer, The Atlantic, Fortune, and Universal Music Group, to share revenues from AI chatbot subscriptions. This initiative aims to establish a new AI economy that fairly compensates content creators.

ProRata.ai has raised $25 million in Series A funding and plans to debut its subscription AI chatbot this autumn, splitting revenues with content partners.

CEO Bill Gross believes their attribution system will set industry standards for valuing premium content in the AI sector, potentially licensing the model to larger AI firms.

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Ziff Davis Acquires Tech Publisher CNET for Over $100M, reports AdWeek

M&A

Aug 6, 2024

Ziff Davis acquired CNET from Red Ventures for over $100 million, aligning CNET with its existing portfolio, which includes tech-focused sites like PCMag and IGN. This acquisition is notable as the largest digital media transaction of 2024, amidst a challenging market.

Under Red Ventures, CNET faced reputational issues due to its focus on direct marketing and the controversial use of AI-generated content. Ziff Davis aims to enhance its tech publishing assets, capitalising on high-intent readership in the consumer technology space.

Previously, Ziff Davis acquired Lifehacker and invested in Group Black, reflecting its strategy of strategic acquisitions.

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Uber Ads just became a $1 billion business, and it has plenty of room to grow, reports Insider

General

Aug 6, 2024

Uber's advertising division has achieved a $1 billion annual revenue run rate, meeting its target two years after its 2022 launch.

Uber Ads offers diverse formats, such as app ads, in-car tablets, and cartops, leveraging first-party data to compete with major players like Meta, Google, and Amazon. It aims to expand into areas like contextual advertising and "Playable Ads," which allow user interaction. Partnerships, such as with T-Mobile, further its growth.

Uber reported a 16% revenue increase to $10.7 billion, surpassing expectations. Piper Sandler analysts remain optimistic about Uber Ads, raising Uber's stock price target to $88.

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Taboola Integrates Double Verify's Pre-Bid Activation Tool, reports MediaPost

General

Aug 6, 2024

Taboola has integrated DoubleVerify’s DV Authentic Marketplace, enhancing advertiser control over ad placements. This partnership allows Taboola advertisers to implement customised brand safety and suitability settings across their entire media mix, ensuring consistency.

Adam Singolda, CEO of Taboola, highlights that this integration offers advertisers more control over where and how their ads appear. DoubleVerify's Steven Woolway notes that this contributes to a safer digital environment.

Taboola, used by approximately 18,000 advertisers to reach nearly 600 million daily active users, was recently re-certified for the Brand Safety Certified Seal and introduced an AI-powered audience development platform, Taboola for Audience.

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Warner Bros Discovery looks to avoid break-up with smaller asset sales, reports FT

General

Aug 6, 2024

Warner Bros Discovery’s senior management, led by CEO David Zaslav and CFO Gunnar Wiedenfels, is working to prevent a company break-up amidst a sharp 70% drop in share price since its formation in 2022.

While a split of the group's TV channels from its streaming and studio businesses was considered, it was deemed too complex and likely to trigger legal challenges. Instead, WBD is exploring the sale of smaller assets like the Polish broadcaster TVN or a stake in its video games business.

Management hopes for investor patience, aiming to increase market capitalisation from $7.88 to $25 a share.

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TikTok says court should reject DOJ secret filings in divestiture suit, reports Reuters

General

Aug 5, 2024

TikTok and its parent company ByteDance have requested a U.S. appeals court to dismiss the Justice Department's attempt to file part of its case in secret. The Justice Department seeks to justify a law demanding the divestiture of TikTok's U.S. assets or a ban by January 19.

ByteDance and TikTok argue that they need to review the evidence to rebut potentially incorrect claims. They suggest appointing a special master if the court does not reject the secret evidence.

The Justice Department cites national security concerns but admits there is no evidence that the Chinese government has accessed U.S. TikTok user data.

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Max’s new homepage personalization tech makes viewers stick around, says exec, reports The Verge

General

Aug 5, 2024

Max, formerly HBO Max, has introduced a "whole page optimization" system in the US to enhance personalised content on its homepage. Warner Bros. Discovery's senior vice president of global streaming product, Liesel Kipp, claims this new system has increased viewer engagement and retention.

The system uses viewers' history to recommend content in personalised categories, replacing the previous blend of human curation and limited personalisation. It ensures users don’t see repeated titles and prioritises relevant collections.

Max is also testing a rating system and AI-driven recommendations, similar to Netflix’s model, to keep subscribers engaged amidst growing streaming competition.

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Google Loses DOJ Antitrust Suit Over Search, reports Bloomberg

General

Aug 5, 2024

A federal judge ruled that Google's payments to be the default search engine on smartphone web browsers violate US antitrust law, marking a significant victory for the Justice Department. Judge Amit Mehta stated that Google's $26 billion in payments to companies like Apple and Samsung hindered market competition.

Antitrust enforcers accused Google of maintaining a monopoly over online search and advertising by paying billions for prime placement. This position has made Google the world's most-used search engine, generating over $300 billion annually from search ads.

The case is the first antitrust trial against a US tech company in over two decades.

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TikTok Pulls Program EU Warned Could Make Kids App Addicts, reports Bloomberg

General

Aug 5, 2024

Responsible Media

The European Union has closed a case against TikTok after ByteDance, its parent company, withdrew a controversial rewards program from its Lite app, which regulators warned could be addictive for children. This action aligns with the EU's new Digital Services Act (DSA).

TikTok also pledged not to introduce any similar programs that could encourage screen time and pose addiction risks. Thierry Breton, the EU’s internal market commissioner, emphasised that young Europeans' available brain time should not be exploited for social media.

Despite this, another investigation into TikTok remains open, focusing on potential future addiction risks.

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Musk's AI chatbot spread election misinformation, secretaries of state say, reports Axios

General

Aug 5, 2024

Five secretaries of state have urged Elon Musk to address misinformation shared by X's AI chatbot, Grok, regarding the 2024 presidential election. They highlighted that Grok falsely claimed Vice President Kamala Harris missed ballot deadlines in nine states, leading to widespread misinformation.

The officials from Minnesota, Pennsylvania, Washington, Michigan, and New Mexico stressed the importance of providing accurate election information and suggested directing users to CanIVote.org for reliable details.

They criticised X's inadequate response and emphasised the platform's responsibility to ensure voters have access to truthful information about their voting rights.

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Elon Musk revives lawsuit against Sam Altman and OpenAI, filing shows, reports Reuters

General

Aug 5, 2024

Elon Musk has reinstated a lawsuit against ChatGPT creator OpenAI and its CEO, Sam Altman, claiming the company prioritised profits over public good.

Filed in Northern California, the suit alleges Altman shifted focus to commercial gains once OpenAI’s technology began revolutionising generative AI.

In June, Musk had withdrawn the initial lawsuit from February, which accused OpenAI of straying from its mission to develop AI for humanity's benefit. Musk's lawyers requested dismissal without explanation, but the suit has now been revived, continuing the legal battle over OpenAI's direction and priorities.

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The AP Sees Ad Revenue and Traffic Upticks Following Diversification Push, reports AdWeek

General

Aug 5, 2024

News Publishing

The Associated Press (AP) has significantly expanded its advertising business, aiming to diversify revenue sources. Previously, advertising comprised just 5% of AP's income, with licensing dominating at 80%.

Following a website redesign and the hiring of a direct sales team, AP has seen increased traffic, ad revenue, and video consumption. Despite challenges, AP aims to double its ad revenue share, focusing on direct sales, donations, and affiliate marketing.

Recent efforts include a new donation platform and affiliate marketing operation, contributing to a 20% rise in digital ad revenue. The AP's strategy also includes improving reader engagement through multimedia content and newsletters.

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Broadcasters fly in TikTokers and YouTubers to generate Olympic buzz, reports FT

General

Aug 3, 2024

Influencer Marketing

Sandra Kwon, an Emirates flight attendant turned internet personality, is among dozens of influencers brought to the Paris Olympic Games by platforms like YouTube and broadcasters like NBC and Eurosport. These creators aim to engage a younger audience and fill storytelling gaps in Olympic coverage.

This marks the first large-scale integration of social media stars in sports broadcasting. Influencers like Kwon provide behind-the-scenes content and simplify complex sports for viewers.

The initiative reflects broader efforts to expand audiences through innovative formats and digital platforms, paralleling successful sports documentaries in enhancing viewer experience.

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More than 50 US lawmakers, 21 states back DOJ in TikTok lawsuit, reports Reuters

General

Aug 3, 2024

A coalition of 21 states and over 50 U.S. lawmakers have supported the Justice Department's defence of a law mandating ByteDance, the China-based parent company of TikTok, to sell its U.S. assets by 19 January or face a ban. The filing, led by the attorneys general of Montana and Virginia, argues TikTok poses a national security and privacy threat due to its links to the Chinese Communist Party.

The U.S. Court of Appeals for the District of Columbia will hear arguments on 16 September.

TikTok contends the ban violates the First Amendment rights of its 170 million U.S. users.

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Turkey blocks access to Instagram platform but gives no reason, reports Reuters

General

Aug 2, 2024

Turkey has blocked access to Instagram, the infotech regulator announced on Friday, without providing reasons or the duration of the ban.

The action follows criticism from Turkish communications official Fahrettin Altun, who condemned Instagram for allegedly blocking condolence posts related to the killing of Ismail Haniyeh, a key Hamas official. Altun described Instagram's action as censorship, noting that the platform did not cite any policy violations.

Instagram's parent company, Meta Platforms Inc, has not commented on the ban or Altun's remarks. Turkey's Information Technologies and Communication Authority (BTK) published the decision on August 2.

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Warner Bros. Says Subscriber Gains From Paris Already Top Tokyo, reports Reuters

General

Aug 2, 2024

Warner Bros. Discovery Inc. reported that it signed up more streaming customers during the first four days of the Paris Olympics than throughout the entire Tokyo Games.

The company, which paid €1.3 billion for the Europe-wide TV rights for the Olympic cycle ending in 2024, saw a surge in subscribers to its Max and Discovery+ services. Although specific figures were not disclosed, Warner Bros. said the total number of streaming viewers exceeded the Tokyo tally after just two days.

The favourable European time zone and the Games' return to a historic European capital contributed to this increased engagement.

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Character.AI Co-Founders Hired by Google in Licensing Deal, reports Bloomberg

General

Aug 2, 2024

Artificial Intelligence

Character.AI's co-founders, Noam Shazeer and Daniel De Freitas, are joining Google in a deal allowing the search giant to license Character.AI’s technology. This follows acquisition interest from Elon Musk’s xAI.

Shazeer and De Freitas, along with some research team members, will join Google's DeepMind research team. Dominic Perella, previously Character.AI’s general counsel, will become the interim CEO.

Character.AI will continue operating independently, with a non-exclusive licensing agreement with Google for its large language model technology. Financial details of the transaction were not disclosed.

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Russia accuses YouTube of censoring content at Washington's behest, reports Reuters

General

Aug 2, 2024

Russia's foreign ministry has accused YouTube of censorship and obstructing access to information at the behest of the United States. The ministry claims that YouTube systematically removes Russian content to suppress the country's sources of information. This accusation follows years of criticism from Russia towards Google's YouTube for removing channels of Russian media and public figures, and not complying with Russian data storage laws.

Spokeswoman Maria Zakharova indicated that Russia may take action against YouTube for these alleged violations. Google has not commented on the statement.

Recently, senior Russian lawmakers have blamed Google for slower download speeds on YouTube and called for its blocking.

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NBCUniversal and Instacart Launch Partnership for Olympics Viewers to Order Food, reports AdWeek

General

Aug 2, 2024

NBCUniversal has introduced Virtual Concessions, allowing viewers of the Paris 2024 Summer Olympics to order food and drinks directly to their homes via QR codes on-screen.

This commerce-enabled ad feature, launched with Instacart and Flowcode, is available on NBC, Peacock, and USA Network. Viewers can scan the QR code, select items, and receive deliveries within 30 minutes to an hour.

This initiative, part of NBCU's partnership with Instacart, aims to enhance the viewing experience and measure its impact on user engagement and brand affinity. NBCU is excited to see how this new interactive ad feature will perform during the Olympics.

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U.S. Sues TikTok Over Child Privacy Violations, reports NYT

General

Aug 2, 2024

Advertising To Children

The US Justice Department has sued TikTok, accusing it of illegally collecting data from children under 13 without parental consent, violating the Children’s Online Privacy Protection Act and a 2019 agreement.

The lawsuit claims TikTok allowed underage users and failed to delete their accounts upon parental request. The Justice Department seeks fines and to stop TikTok’s alleged privacy violations. TikTok denies the allegations, asserting they relate to past practices.

The case is part of ongoing scrutiny of TikTok by US lawmakers and regulators over child safety and data privacy concerns.

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Apple Pressures Tencent and ByteDance Over App Fees in China, reports Bloomberg

General

Aug 2, 2024

Apple Inc. is pressuring Tencent Holdings Ltd. and ByteDance Ltd. to close loopholes in their apps that allow users to bypass Apple's 30% commission on in-app payments. Apple has warned Tencent that WeChat updates may be rejected unless links used for external payments are removed. ByteDance faced similar demands for its Douyin app.

These actions come as Apple faces scrutiny over its app store practices globally.

Apple's aggressive approach in China, where it reported a revenue decline, risks straining relations with key internet firms like Tencent and ByteDance, which dominate the local market.

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Roku Earnings For Q2 2024 Show +14.3% YoY Revenue Growth, Net Loss Down By -68.4% YoY

+ 14% YoY Opinions

Earnings

Aug 1, 2024

Reuters reports:

Roku exceeded Wall Street estimates for Q2 revenue and reported a smaller-than-expected loss, thanks to strong ad sales and the shift from cable TV to streaming. Shares rose 5.2% after-hours.

The company, benefiting from increased viewership as subscription fees rise, reported a 14% increase in net revenue to $968.2 million, surpassing the expected $937.9 million. Its platform revenue grew 11% to $824.3 million. Roku's loss was 24 cents per share, better than the anticipated 43 cents.

The company now has 83.6 million active accounts, up by 2 million. Operating expenses fell 2% to $495.9 million, with Q3 revenue expected to be $1.01 billion.

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Canadian news engagement down significantly one year after Meta's ban, reports The Canadian Press

General

Aug 1, 2024

News Publishing

A new study by the Media Ecosystem Observatory reveals that Canadian news outlets are struggling to reach audiences a year after Meta blocked Canadian news content on Facebook and Instagram. Engagement with news on social media dropped by 43%, despite attempts to boost activity on other platforms.

The ban followed the 2023 Online News Act, requiring tech companies to pay for news content. Local outlets were especially affected, with 30% becoming inactive on social media.

Although only 22% of Canadians are aware of the ban, there are 11 million fewer daily news views on Facebook and Instagram.

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Disney Sees 5% Uptick In Upfront Ad Sales Commitments, reports Variety

General

Aug 1, 2024

Walt Disney Co. secured a 5% increase in ad commitments for the 2024 upfront ad sales market. Despite not disclosing total amounts, this rise is notable as TV networks face declining linear audiences and increased streaming competition from platforms like Netflix and Amazon Prime Video.

Disney offered reduced CPMs for Disney+, securing volume ad deals across its portfolio. Ad commitments to sports and streaming video grew, with significant increases in women's sports and multicultural audience advertising.

Key sectors driving interest included foreign autos, beverages, foods, personal care, financial services, hotels, vacation rentals, and quick-service restaurants.

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Google Ads hit by major reporting glitch, exposing competitor data, reports Search Engine Land

General

Aug 1, 2024

Google Ads is experiencing a major outage, affecting multiple reporting tools and product management features. This outage hinders advertisers' ability to manage campaigns and access performance data. Key tools like Report Editor, Dashboards, and Saved Reports are down, and product pages across web, API, and Google Ads Editor are affected. Additionally, there is a serious data breach exposing unrelated item IDs, product titles, and Merchant Centre information to competitors, raising privacy concerns.

Google Ads Liaison Ginny Marvin has acknowledged the issue and promised updates.

Advertisers are advised to exercise caution and refrain from using exposed data until the issue is resolved.

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UK’s AI bill to focus on ChatGPT-style models, reports FT

General

Aug 1, 2024

Artificial Intelligence

UK tech secretary Peter Kyle has assured major technology companies that the forthcoming artificial intelligence bill will focus on advanced models and avoid becoming overly expansive.

The bill, expected later this year, will aim to make existing voluntary agreements legally binding and establish the AI Safety Institute as an independent government body. This move is intended to regulate ChatGPT-style foundation models and ensure companies adhere to safety commitments.

Senior officials emphasise the need for legal enforceability to prevent companies from ignoring obligations for commercial reasons. A consultation on the bill's contents is expected to begin soon and last about two months.

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Apple asks US judge to toss antitrust lawsuit, reports Reuters

General

Aug 1, 2024

Apple has requested a U.S. judge to dismiss a lawsuit by federal and state antitrust regulators accusing it of monopolising the smartphone market.

The lawsuit, filed in March by the Justice Department and 19 states, claims Apple maintains an illegal monopoly through restrictions on app developers and limiting access to technology. Apple argued that its limitations are reasonable and do not harm competition or consumers. The lawsuit challenges Apple's fees and technical barriers that hinder third-party devices and services.

U.S. District Judge Julien Neals will consider the government's response and Apple's reply before making a decision.

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Amazon’s Black Friday NFL game sells out of ad inventory, reports AdAge

General

Aug 1, 2024

Amazon Prime Video has sold out ad inventory for its second Black Friday NFL game, set to air in 2024. The 30-second ad units sold for between $650,000 to $750,000.

The sell-out highlights the game’s appeal to retail and consumer packaged-goods clients seeking to boost sales during the shopping holiday. Last year’s inaugural Black Friday game attracted 9.61 million viewers, and this year's matchup between the Super Bowl champion Chiefs and the Raiders is anticipated to draw 14 million viewers.

Amazon's game offers advanced targeting capabilities, enhancing its appeal to advertisers during the critical holiday shopping period.

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Leaked Pitch From The Trade Desk Shows Pricing and Effectiveness of Olympic Ad Buys, reports AdWeek

General

Aug 1, 2024

A few days into the 2024 Paris Olympics, The Trade Desk revealed new statistics highlighting the effectiveness of the first programmatic offerings for the games.

According to a leaked document, Trade Desk clients reached 900,000 households during the first weekend, with 350 million daily impressions available. NBCUniversal, partnering with The Trade Desk, offers three programmatic inventory options for the Olympics. The cost to reach a unique household is 19 cents, and 60% of these viewers are not reachable via linear TV.

NBCU reports the highest Olympic ad revenue in history and has already doubled the digital ad revenue of the 2020 Tokyo Olympics.

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Disney, Fox and Warner Bros. Discovery’s Sports Streamer Venu to Launch at $42.99 per Month, reports Variety

General

Aug 1, 2024

The new streaming service Venu, backed by Disney, Fox, and Warner Bros. Discovery, will launch in the U.S. this autumn with a monthly fee of $42.99, coinciding with the next NFL season.

Aimed at sports fans who avoid traditional pay TV, Venu will offer access to 14 live sports channels and on-demand content from ESPN, Fox Sports, and others. Subscribers will benefit from a seven-day free trial and a fixed price for 12 months.

Venu hopes to attract younger consumers with a comprehensive sports programming portfolio, providing a single destination for popular sports events and games.

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Microsoft and Reddit Are Fighting About Why Bing’s Crawler Is Blocked on Reddit, reports 404 Media

General

Aug 1, 2024

Artificial Intelligence

Microsoft and Reddit offer conflicting reasons for why Bing is blocked from crawling Reddit.

Reddit claims Bing's crawler is used to power AI products and demands payment for data usage. Microsoft states it has made it easy to block its AI crawler while allowing one for search results, accusing Reddit of impacting competition. Reddit insists they are open to agreements if Bing adheres to their policies, which do not include training or summarisation.

This disagreement reflects the broader issue of AI scraping causing mistrust and altering long-standing internet norms, pushing companies to restrict previously open data access.

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Roku Taps The Trade Desk’s UID2 To Draw In New Demand, reports AdExchanger

General

Aug 1, 2024

User Identifiers

Roku has integrated The Trade Desk’s UID 2.0 identifier to enhance ad targeting and attract new buyers, aiming to increase monetisation per account. This integration is part of Roku’s strategy to improve its ad targeting capabilities and reach new demand.

UID2 will allow advertisers to achieve more precise targeting by matching Roku accounts with UID2 identifiers. The integration, which is part of the Roku Exchange launched in June, connects Roku supply with programmatic demand.

Roku Media President Charlie Collier stated that the new integration is progressing well and is expected to drive continued demand.

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Outbrain Acquires Teads From Altice For $1 Billion, reports AdExchanger

M&A

Aug 1, 2024

Outbrain is acquiring Teads, a video monetisation company owned by Altice, for roughly $1 billion. The deal includes $725 million in cash, a deferred $25 million payment, and 35 million Outbrain shares valued at $169 million. Altice bought Teads in 2017 for $307 million.

The acquisition aims to make Outbrain an "end-to-end, full-funnel platform for the open internet." Outbrain, which has faced scrutiny over its ad practices, plans to leverage Teads' CTV and video publishing capabilities to enhance its advertising offerings.

Financial backing for the deal comes from Goldman Sachs, Jefferies, and Mizuho Bank.

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Roblox Earnings For Q2 2024 Show +31.3% YoY Revenue Growth, Net Loss Down By -27.3% YoY

+ 31% YoY Opinions

Earnings

Aug 1, 2024

Gaming / Metaverse

Bloomberg reports:

Roblox Corp., a popular video-game platform for children, projected third-quarter bookings of $1 billion to $1.03 billion, surpassing analysts' estimates of $935.8 million. This follows second-quarter bookings of $955.2 million, beating expectations of $890.5 million. Roblox also raised its 2024 bookings forecast to $4.23 billion.

The company is increasing investment in advertising, partnering with brands like PacSun, Elf Beauty, Walmart, and Warner Bros.

Roblox reported 79.5 million daily active users in the second quarter, exceeding estimates of 77.1 million. Despite safety concerns and a 9.2% drop in shares this year, Roblox aims to improve user safety.

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Criteo Earnings For Q2 2024 Show +0.5% YoY Revenue Growth, Net Income Up By +1523.6% YoY

+ 1% YoY Opinions

Earnings

Aug 1, 2024

AdExchanger reports:

Criteo reported modest Q2 revenue growth of 1%, but turned a $2 million net loss from last year into a $28 million profit.

Criteo executives hinted at Google’s forthcoming Chrome consent mechanism, designed to clarify user trade-offs for opting in or out of cookies, aiming to be fairer than Apple's approach. Criteo is shifting from open web advertising to more closed platforms, securing partnerships with Shopify and Microsoft Advertising.

Their new retail media DSP, Commerce Max, has driven a 50% year-on-year increase in agency spending. Criteo aims to consolidate retail media spending across multiple retailers for agencies.

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Integral Ad Science Earnings For Q2 2024 Show +13.5% YoY Revenue Growth, Net Income Up By +0.2% YoY

+ 14% YoY Opinions

Earnings

Aug 1, 2024

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Snap Earnings For Q2 2024 Show +15.8% YoY Revenue Growth, Net Loss Down By -34.1% YoY

+ 16% YoY Opinions

Earnings

Aug 1, 2024

Artificial Intelligence

Bloomberg reports:

Snap Inc. reported second-quarter revenue of $1.24 billion, just below analyst expectations of $1.25 billion. Despite this, user growth exceeded expectations, with daily active users reaching 432 million, a 9% increase from the previous year. Snap's revenue forecast for the current quarter aligns with analyst estimates.

The company has shifted its advertising focus to direct response ads and introduced Snapchat+, a subscription service with 11 million users. Snap reported a net loss of $248.6 million, improved from $377.3 million a year earlier.

Investments in AI technologies aim to enhance ad targeting and content recommendations, contributing to increased user engagement.

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Apple Earnings For Q2 2024 Show +4.9% YoY Revenue Growth, Net Income Up By +7.9% YoY

+ 5% YoY Opinions

Earnings

Aug 1, 2024

Artificial Intelligence

CNBC reports:

Apple's fiscal third-quarter earnings surpassed Wall Street expectations, with revenue rising 5% to $85.78 billion and net income at $21.45 billion. Key figures include $1.40 earnings per share and strong performance in iPhone, iPad, and Services revenue. Despite a 1% decline in iPhone sales year-over-year, iPad sales grew nearly 24%. Services revenue, encompassing various subscriptions and warranties, rose 14%.

Apple CEO Tim Cook highlighted increased spending on AI development. While revenue in greater China fell by 6%, Cook expressed long-term confidence.

Apple spent $32 billion on dividends and share repurchases in the quarter. Shares remained flat in extended trading.

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Amazon Earnings For Q2 2024 Show +10.1% YoY Revenue Growth, Net Income Up By +99.8% YoY

+ 10% YoY Opinions

Earnings

Aug 1, 2024

FT reports:

Amazon's latest financial report disappointed Wall Street as higher capital spending and shrinking margins overshadowed sales growth in its cloud computing business.

Shares fell 8% after-hours despite a 10% rise in net sales to $148bn and net income increasing to $13.5bn, surpassing forecasts. Amazon Web Services sales grew 19% to $26.3bn, but margins dropped due to increased investments in logistics and AI infrastructure. Operating income projections for Q3 were below expectations.

Amazon's CFO expects higher capital spending in the latter half of the year, focusing on cloud infrastructure to meet demand. Advertising sales grew 20%, highlighting it as Amazon's fastest-growing revenue stream.

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Reddit Blocks Microsoft From Searching Site Without Paying, reports Bloomberg

General

Aug 1, 2024

Artificial Intelligence

Reddit Inc. has begun blocking search engines, including Microsoft’s Bing, from accessing its posts and comments unless they sign commercial agreements. This policy change, effective from last month, aims to control where Reddit's data ends up and its usage.

Consequently, only Google, which signed a $60 million deal with Reddit in February, can currently access Reddit content. This move follows concerns over companies using Reddit data for purposes beyond simple searches, such as training AI.

Reddit is negotiating with other search engines and AI companies, but many have not agreed to Reddit's terms. Microsoft and AI firms like Perplexity and Anthropic have responded by ceasing to crawl Reddit’s site.

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Reddit Acquires Generative AI Startup Memorable AI, reports Bloomberg

M&A

Aug 1, 2024

Artificial Intelligence

Reddit Inc. is acquiring Memorable AI, a startup that utilises generative artificial intelligence to enhance advertising, marking its first acquisition since going public in March.

Memorable AI's technology helps advertisers identify the most effective text, images, and videos for ads. Reddit aims to use this acquisition to improve ad quality on its platform.

Memorable AI, founded in 2021, predicts ad effectiveness in driving actions like app downloads or website visits. This aligns with Reddit's focus on bolstering its advertising and AI capabilities, having previously acquired AI companies Spell, MeaningCloud, and Spiketrap to enhance content recommendations and ad placements.

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Apex Capital Trust submits bid to acquire Paramount Global for up to $43 billion, reports Reuters

M&A

Aug 1, 2024

Apex Capital Trust has made an all-cash offer of up to $43 billion to acquire Paramount Global. This bid challenges Paramount's merger agreement with Skydance Media, which includes a 45-day "go-shop" period for other offers.

Apex proposes buying all of National Amusements’ stock, offering $35 per share for Class A voting shares and $23.28 per share for non-voting Class B shares, both at a 33% premium. Apex will also assume Paramount’s $15.8 billion debt and pay Skydance's $400 million break-up fee.

Additionally, it plans to inject $10 billion into Paramount to support its business strategy.

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Magnite Tackles Fully Automated Prebid Wrapper Optimization, reports AdExchanger

General

Aug 1, 2024

Programmatic advertising requires precise timing to maximise revenue, prompting publishers to optimise their Prebid setups based on SSP auction response times.

Ranker has tested Prebid optimisation via Magnite’s Demand Manager, which automates adjustments in real-time. This resulted in a 5% ad spend increase. Previously, Ranker used manual A/B testing, which was cumbersome.

Demand Manager’s automation now enhances auction timeouts and prioritises SSPs, boosting efficiency. It also helps identify valuable SSPs and cut underperformers. This automation allows Ranker’s development team to focus on site improvements, while ad ops optimise direct campaigns, enhancing overall ad revenue.

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The Biggest CPGs Face New Pressures To Increase Ads While Somehow Spending Less, reports AdExchanger

General

Aug 1, 2024

Recent earnings reports from major CPG and grocery brands highlight the growing pressure on these companies to lower prices, squeeze margins, and increase advertising spending.

Legacy brands are investing heavily in ads to maintain market share against digital-native startups and private-label products. Unilever, General Mills, Pepsi, and Procter & Gamble have all significantly boosted their marketing budgets.

However, investors are concerned about the impact of these increased ad spends on profitability. Marketing, while crucial for growth, is often viewed as a cost rather than a revenue driver, leading to cautious approaches to spending and a focus on return on investment.

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Netflix’s new president of games highlights the expansion of the platform’s gaming plans, reports Digiday

General

Aug 1, 2024

Gaming / Metaverse

Netflix is accelerating its gaming efforts in 2024, appointing veteran developer Alain Tascan as its new president of games. CEO Ted Sarandos highlighted the potential for games to engage fans between TV seasons.

Tascan, previously with Epic Games and EA, is expected to drive transformative change at Netflix. Since entering gaming in 2021, Netflix has acquired four studios and is building two more, with over 100 games now available.

The company focuses on adapting its intellectual properties into games, with over 80 in development. Netflix's gaming downloads surged from 5 million in 2021 to 81 million in 2022.

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World’s first major AI law enters into force, reports CNBC

General

Aug 1, 2024

Artificial Intelligence

The European Union's AI Act, which officially comes into force today, introduces stringent regulations for AI development, use, and application, targeting major U.S. tech firms like Microsoft, Google, and Meta.

he legislation adopts a risk-based approach, imposing strict obligations on high-risk AI systems, such as autonomous vehicles and medical devices, and banning applications deemed to have unacceptable risks. Companies breaching the Act face fines up to €35 million or 7% of global annual revenues.

Although the Act is now in force, most provisions won't take effect until at least 2026, giving current generative AI systems a 36-month transition period for compliance.

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Microsoft says OpenAI is now a competitor in AI and search, reports CNBC

General

Jul 31, 2024

Artificial Intelligence

Microsoft has added OpenAI to its list of competitors in its latest annual report, despite their long-term partnership and Microsoft’s substantial $13 billion investment in OpenAI. This new designation reflects their growing competition in AI offerings, search, and news advertising, with OpenAI recently launching a search engine prototype called SearchGPT.

Microsoft offers its own AI solutions through Azure and products like the Copilot chatbot. Despite the competition, OpenAI maintains that the partnership remains strong.

Recent developments include OpenAI's temporary CEO change and the appointment of Mustafa Suleyman as CEO of Microsoft AI, highlighting a dynamic relationship between the two companies.

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Meta Earnings For Q2 2024 Show +22.1% YoY Revenue Growth, Net Income Up By +72.9% YoY

+ 22% YoY Opinions

Earnings

Jul 31, 2024

Artificial Intelligence

Bloomberg reports:

Meta shares surged by 5% following the announcement of its quarterly earnings, with sales reaching $39.1 billion, surpassing analysts' expectations. The company credits AI for improving ad targeting efficiency, bolstering its core business.

Meta forecasts current quarter sales between $38.5 billion and $41 billion and has adjusted its annual capital expenditure projections to $37 billion-$40 billion. CEO Mark Zuckerberg continues to invest heavily in AI, including large language models, and anticipates significant future capital expenditure growth. Despite heavy spending, Meta sees early signs of success, with its AI assistant poised to become widely used by year-end.

The company reported 3.27 billion users, a 7% year-on-year increase.

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Google releases new open AI models with a focus on safety, reports TechCrunch

General

Jul 31, 2024

Artificial Intelligence

Google has unveiled three new "open" generative AI models, Gemma 2 2B, ShieldGemma, and Gemma Scope, which it claims are safer, smaller, and more transparent than most.

These additions to the Gemma 2 family are designed for various applications. Gemma 2 2B is a lightweight text-generating model for diverse hardware. ShieldGemma, built on Gemma 2, includes safety classifiers to detect toxic content. Gemma Scope provides interpretability, allowing developers to examine specific points within the model.

These models align with a recent U.S. Commerce Department endorsement of open AI models, aiming to enhance accessibility and safety in AI development.

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Google upgrades search in drive to tackle deepfake porn, reports FT

General

Jul 31, 2024

Responsible Media

Google is altering its search engine to combat deepfake pornography, addressing the social impacts of generative AI. New measures include easier processes for victims to remove explicit content and omitting such results from search terms with a person's name. Google will also lower the ranking of sites with many removal notices and scan for duplicate images to remove them.

These changes follow criticism over the proliferation of deepfake content. The UK’s Online Safety Act and various US state laws now target non-consensual explicit deepfakes.

Despite these updates, Google acknowledges limitations in detecting duplicates and trade-offs for consensual adult content.

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L'Oreal Taps Wavemaker, Includes Amazon Activity, reports MediaPost

General

Jul 31, 2024

L’Oréal International Distribution has chosen GroupM's Wavemaker for media planning and buying across EMEA, starting in September for three years. Although billings were undisclosed, the appointment followed a six-month review by Ebiquity.

Wavemaker highlighted that the win includes Amazon activity, with GroupM competing against Omnicom for Amazon's media account.

Wavemaker secured the business against OMD, marking an expansion of its partnership with L’Oréal, covering over 30 markets globally.

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Paris Games Set Olympic Ad Record, NBCU Scores $1.25B+, reports MediaPost

General

Jul 31, 2024

NBCUniversal (NBCU) has set a new Olympic advertising revenue record just four days into the 2024 Paris Summer Olympics, surpassing the $1.25 billion earned during the entire 2021 Tokyo Summer Olympics. NBCU did not disclose the exact figure but noted that 70% of the advertisers are first-time Olympic sponsors, contributing nearly $500 million.

Digital ad revenue has more than doubled compared to the Tokyo games. The Paris Olympics feature more advertisers than the Tokyo and Rio games combined.

The first three days of the Paris Olympics saw a 79% viewership increase over Tokyo, averaging 34.5 million viewers across all platforms.

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Fox Wraps Upfront Sales: Boosts Price and Volume, reports MediaPost

General

Jul 31, 2024

Fox Corp. concluded its 2024-25 upfront advertising selling season with increased volume and pricing for its linear TV networks and digital platforms. Jeff Collins, Fox's president of ad sales, highlighted year-over-year growth across sports, news, entertainment, and streaming.

Analysts attribute Fox's strong position to its emphasis on live TV sports and news programming, which command higher CPM rates. The NFL, in particular, saw double-digit price hikes.

Fox also reported significant advertising gains for its news content and the Tubi streaming service, which added 25 new advertisers. The OneFOX business unit tripled its volume over the previous year.

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Meta Has Run Hundreds of Ads for Cocaine, Opioids and Other Drugs, reports WSJ

General

Jul 31, 2024

Responsible Media

Meta Platforms is under scrutiny for running ads on Facebook and Instagram that direct users to illegal drug marketplaces, despite policies banning such promotions. The Wall Street Journal found dozens of ads for illegal drugs, such as cocaine and prescription opioids.

Meta's AI tools have failed to block these ads, which often redirect users to other platforms like Telegram for transactions. Meta disabled many of these ads within 48 hours and banned the users who created them.

The issue raises questions about Section 230, which shields online platforms from liability for third-party content. Parents, including Mikayla Brown, blame Meta for their children's overdose deaths due to drug purchases facilitated by its platforms.

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Disney and Spotify partner with Yahoo for audio ads, reports Axios

General

Jul 31, 2024

Audio Advertising

Yahoo can now sell programmatic ads for certain Disney and Spotify podcasts, enhancing ad revenue for Yahoo and the podcast industry. Yahoo's demand-side platform (DSP) will offer ads for ESPN and ABC News podcasts, and Spotify's podcast inventory is available for programmatic guaranteed campaigns.

U.S. podcast ad revenue is projected to grow 12% to $2.2 billion in 2024, driven by measurement improvements and programmatic buying.

Yahoo DSP, which introduced audio in 2018, also partners with iHeartMedia, SiriusXM, Acast, and Libsyn. Vice President Chandra Cirulnick notes significant growth in audio and podcasting, with increased advertiser interest.

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Innovid Wants To Solve CTV’s Most Annoying Issue, reports AdExchanger

General

Jul 31, 2024

Ad repetition on streaming platforms is worsening due to agencies using multiple demand-side platforms (DSPs), which struggle to manage frequency caps across different supply paths. To address this, TV measurement platform Innovid has launched Harmony Frequency, a new product that manages ad frequency across connected TV, mobile, and desktop. Currently in beta, it will be generally available later this year.

Harmony Frequency aims to give media buyers more control by providing ad exposure data from publishers and multiple DSPs in one place, helping them optimise reach and avoid overexposure.

This innovation could boost confidence in programmatic streaming media investments.

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X reminds advertisers there’s no substitute for real-time sports conversation amid competition, reports Digiday

General

Jul 31, 2024

X remains a strong platform for sports despite facing various challenges. The platform has long capitalised on live sports moments, and this year’s Olympic Games significantly boosted its engagement, surpassing even the Super Bowl in terms of impressions and video views.

To enhance its appeal to advertisers, X has partnered with Genius Sports to launch Trend Genius, a tool that triggers ads during high-engagement sports conversations.

Despite some marketers’ concerns, sports remains a key draw for users and advertisers on X. Six out of ten sports fans use X, making it a critical platform for real-time sports discussions.

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Google adds new PMax reporting, generative AI tools, reports Search Engine Land

General

Jul 30, 2024

Artificial Intelligence

Google is enhancing its advertising platforms, particularly for Performance Max campaigns, with new features to improve creative results and transparency.

Key updates include new reporting tools, such as conversion metrics in asset-level reporting and YouTube video placement reporting, along with third-party verification for brand suitability on YouTube and Display. Additionally, AI-powered creative tools have been expanded to include enhanced image editing capabilities and improved asset generation for multiple campaign types. A new partnership with Typeface will facilitate seamless asset creation and implementation.

These updates aim to help advertisers create more effective ads, understand their performance better, and ensure brand safety across Google’s ad network.

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EU calls for help with shaping rules for general-purpose AIs, reports TechCrunch

General

Jul 30, 2024

Artificial Intelligence

The European Union has initiated a consultation on rules for general-purpose AI models under the AI Act, which will enforce compliance from April 2025.

The consultation seeks input from AI providers, businesses, civil society, and experts on transparency, risk assessment, and monitoring of AI practices. The initial draft Code of Practice will be shaped by responses to the consultation, which ends on 10 September 2024. Additionally, interested parties can participate in the drafting process by expressing interest by 25 August 2024.

The consultation aims to ensure a broad and inclusive drafting process, countering concerns of bias towards AI giants.

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Younger UK viewers turn away from traditional TV channels, reports FT

General

Jul 30, 2024

Less than half of young audiences in the UK now watch broadcast television weekly, marking the first time a majority have turned away from traditional channels, according to Ofcom.

Only 48% of 16- to 24-year-olds watched regular broadcast services weekly last year, down from 76% in 2018. Younger generations prefer video-sharing platforms like YouTube and TikTok, watching them for three times longer than traditional TV. In contrast, 95% of over-65s still watch broadcast TV weekly.

Analysts predict the decline in younger viewers will slow, with streaming use plateauing. Meanwhile, radio listening reached a 20-year high in early 2024.

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Edgar Bronfman Jr. still eyeing a Paramount deal, reports Axios

M&A

Jul 30, 2024

Edgar Bronfman Jr., former Warner Music chair, is in discussions with bankers about a possible bid for Paramount's parent company, National Amusements Inc. (NAI), sources told Axios. This follows Paramount's recent agreement with Skydance Media and RedBird Capital Partners, which includes a 45-day "go-shop" provision allowing for superior bids until August 21.

Bronfman Jr.'s initial bid, backed by Bain Capital, was estimated between $2 billion and $2.5 billion. The Skydance deal values Paramount at $8 billion. Bronfman Jr. could face a $400 million break-up fee if his bid succeeds.

There is no guarantee a counteroffer will emerge.

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WPP Names Former BT Chief Executive Philip Jansen as Chairman, reports Bloomberg

General

Jul 30, 2024

Leadership Transitions

WPP Plc has announced that Philip Jansen, former CEO of BT Group Plc, will become chairman in January, succeeding Roberto Quarta. Jansen, 57, will join WPP’s board in September.

The advertising group is restructuring to cut costs and plans to invest hundreds of millions of pounds in new technologies and AI capabilities.

During his five-year tenure at BT, Jansen streamlined operations, unveiled plans to cut up to 55,000 jobs, and focused on advancing the fibre network. Previously, he led payments provider Worldpay and began his career at Procter & Gamble.

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Meta to pay $1.4 billion to settle Texas facial recognition data lawsuit, reports Reuters

General

Jul 30, 2024

Meta Platforms has agreed to pay $1.4 billion to Texas to settle a lawsuit alleging that Facebook illegally used facial-recognition technology to collect biometric data of millions of Texans without their consent. The settlement, the largest ever by a single state, resolves accusations that Facebook captured biometric information billions of times through a discontinued feature called "Tag Suggestions." Meta denies any wrongdoing but is pleased with the resolution.

Texas Attorney General Ken Paxton hailed the settlement as a victory for privacy rights. Meta previously paid $650 million in 2020 to settle a similar case in Illinois.

Google is facing a similar lawsuit in Texas.

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Google’s partnership with AI startup Anthropic faces scrutiny from UK competition watchdog, reports AP News

General

Jul 30, 2024

Britain's Competition and Markets Authority (CMA) is investigating Google’s partnership with AI startup Anthropic to determine if it lessens competition in the UK AI services market. The CMA is accepting comments until 13 August before deciding on a formal investigation.

Anthropic, founded by former OpenAI staff, focuses on AI safety and reliability. Google agreed to a multibillion-dollar investment in Anthropic last year. The CMA is already scrutinising Amazon's $4 billion investment in Anthropic and Microsoft’s partnership with OpenAI.

Anthropic asserts its independence, while Google emphasises its commitment to an open AI ecosystem, noting that Anthropic uses multiple cloud providers.

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Pinterest Earnings For Q2 2024 Show +20.6% YoY Revenue Growth, Net Income Up By +125.4% YoY

+ 21% YoY Opinions

Earnings

Jul 30, 2024

Bloomberg reports:

Pinterest Inc. has warned that its third-quarter revenue may be lower than analysts' expectations, causing shares to drop by over 13%. The company forecasts revenue between $885 million and $900 million, below the estimated $907.7 million.

Despite this, Pinterest's revenue rose 21% to $854 million in the period ending June 30, surpassing the expected $848 million. The platform now has 522 million global monthly users, a 12% increase from last year.

CEO Bill Ready highlighted efforts to enhance direct shopping through advertising, aiming to convert users' search behaviour into shopping actions.

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Double Verify Earnings For Q2 2024 Show +16.6% YoY Revenue Growth, Net Income Down By -41.8% YoY

+ 17% YoY Opinions

Earnings

Jul 30, 2024

AdExchanger reports:

A year ago, Pepsi, Ulta Beauty, and AB InBev were Moat clients but have now switched to DoubleVerify.

This change was highlighted by DoubleVerify CEO Mark Zagorski during the company's earnings call, where he noted DoubleVerify's Q2 revenue rose 17% year-over-year to $156 million, though profit dropped to $7.5 million. The shift from Moat is seen as a significant opportunity, potentially worth tens of millions.

DoubleVerify is focusing on activation and platform-based solutions, with successful growth in walled gardens like YouTube and Meta, and new partnerships with Reddit and Pinterest. This strategy aims to capitalise on the lucrative ad buying market.

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Microsoft Earnings For Q2 2024 Show +15.2% YoY Revenue Growth, Net Income Up By +9.7% YoY

+ 15% YoY Opinions

Earnings

Jul 30, 2024

Artificial Intelligence

FT reports:

Microsoft's shares fell as its quarterly earnings did not meet Wall Street's high expectations, despite double-digit growth in sales and earnings. Azure cloud growth slowed to 29% year-on-year due to AI demand outstripping capacity. Sales in the broader cloud business rose 19% to $28.5bn, slightly below forecasts.

Microsoft's heavy AI investments, including a $13bn partnership with OpenAI, have increased capital expenditures by nearly 80% to $19bn last quarter. CEO Satya Nadella defended the spending as essential for capturing AI opportunities.

Microsoft's revenue rose 15% to $64.7bn, and net income increased 10% to $22bn, both exceeding forecasts.

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Warner Bros Discovery in talks with UK streamers over HBO programmes, reports FT

General

Jul 30, 2024

Warner Bros Discovery (WBD) is negotiating to show HBO content in the UK via its Max streaming platform on various rival services, potentially altering its exclusive deal with Sky, which runs until the end of 2025.

WBD plans to launch Max in the UK in 2026, featuring HBO programmes, Warner Bros movies, Eurosport, and Discovery content. Discussions with Amazon Prime, Virgin Media, and EE involve carriage deals, where providers pay fees to include Max in their bundles. Sky remains confident of retaining access to HBO content.

WBD seeks to boost Max’s success and customer base by partnering with other streamers.

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