Good morning. Here’s everything you need to know in the world of advertising today.
1. Yahoo wiped out the entire value of the mystery company it bought for $23 million last year. Yahoo still has not disclosed the name of the company or the rationale behind that particular transaction, but it did reveal on Tuesday that the entire value had been written off.
2. Netflix cuts out over 6 days of commercials from your life per year, compared to cable TV. The company has always maintained that killing ads provides a better experience for its subscribers, and shows no signs of changing that position.
3. These are the 10 most popular 360-degree Facebook videos of 2016 so far. Since September, Facebook hosted 360-degree videos that let the user move their phone around or click around their computer screen to change the camera angle as they play.
4. Budweiser plans to completely rebrand itself to “America” this summer. The new label will also give increased prominence to the Latin phrase which appears on the American seal: “E Pluribus Unum” — meaning “One out of many.”
5. Advertising legend Sir John Hegarty explains the danger of opting for “content” over old-fashioned ads. The much-lauded Oreo “Dunk in the dark” tweet was “s—-,” according to the BBH founder.
6. The UK ad regulator has received complaints about online fashion retailer Lyst offering dogs “for sale” as handbag accessories. Lyst’s “Canine Collection” was a PR stunt.
7. Amazon is launching a YouTube competitor. Amazon Video Direct will let creators earn money from royalties and advertising for videos they upload, based on minutes streamed.
8. Baidu’s CEO told staff to put “values before profits.” Robin Li made the comments in a letter sent to employees, after the search engine was ordered to reduce the number of ads it includes in search results by the government regulator.
9. This candy company is ready to cash in on a viral mashup of two iconic treats. Hershey’s may have a mega-hit on its hands, as rumours that a Reese’s Pieces-Reese’s Peanut Butter Cup will debut this summer are already going viral.
10. Amazon stock surged past $700 to set a new all-time high. The stock price of $701.38 was above the previous all-time high of $693.97, which Amazon hit in intraday trading on December 29.
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