Good morning. Here’s everything you need to know in the world of advertising today.
1. There’s a “disturbing” transparency issue plaguing the advertising industry. Yet the major ad agencies deny there’s a problem.
2. Turn’s CEO Bill Demas is out. Sources say the ad-tech company has cash issues.
3. Google paid its new chief business officer $US130 million to come off the bench last year. Omid Kordestani became the company’s highest paid exec, according to the company’s 2014 proxy statement.
4. Google had a new and unexpected explanation for its falling ad rates in its Q1 earnings. During the earnings call, Google said the culprit is YouTube’s skippable “TrueView” video ads.
5. Meanwhile, Google is testing a new ad-tech product, a data management platform (DMP.) DoubleClick Audience Center could be the last piece of the ad-tech jigsaw the company needs to help fight off Facebook.
6. Beacons could finally become a massive deal, thanks to Twitter. SoftBank Capital, Hearst Ventures, and Twitter Ventures led a $US18 million financing round in a beacons company called Swirl, which could see the technology becoming more commonplace.
7. Comcast is dropping its $US45 billion Time Warner Cable bid, Bloomberg reports. The death of this deal is bad for a lot of people on Wall Street, especially Time Warner Cable CEO Rob Marcus who was set to receive $US80 million in fees as soon as the transaction was completed.
9. You can now get a Chipotle burrito delivered in the US. But there’s a huge catch.
10. This mistake from 30 years ago almost destroyed Coca-Cola. New Coke was a disaster from the start.
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