The 10 things in advertising you need to know today

Sundar Pichai GoogleGetty ImagesGoogle CEO Sundar Pichai.

Good morning. Here’s everything you need to know in the world of advertising today.

1. Instagram now has 700 million users. The app said it had 600 million users in December.

2. P&G wants to cut $US2 billion of its marketing spend over five years.The cuts include $US1 billion in media and $US500 million in agency fees, according to Ad Age.

3. The European parliament wants to regulate online video ads. A proposed reform wants sponsored content and product placement to be more clearly highlighted.

4. Google and Facebook dominate digital ads. The two tech companies accounted for 99% of revenue growth in digital advertising according to analysis of IAB estimates.

5. Targeted television ads could become a $US100 billion market. A note from Credit Suisse estimates that platforms for targeted TV ads could grow by between 5% and 7% per year in 2017-2030.

6. Oracle expanded its marketing cloud to include chatbots and more AI. The company unveiled a suite of artificial intelligence tools for mobile, video, and messaging platforms as well as a chatbot platform, Ad Week reported.

7. Twitter wants to be recognised as the “gold standard” for third party measurement. The company’s CFO said it had already implemented standards from the Media Ratings Council for video viewability and measurement, according to The Drum.

8. Hulu did one of its biggest marketing pushes for the launch of “The Handmaid’s Tale.” Part of the campaign was a partnership with the New York social club for women, The Wing, as Ad Week reported.

9. Spotify acquired the blockchain startup Mediachain. The company is building technology to connect artists directly with their royalty payments.

10. ESPN is cutting 100 TV personalities. The company needs to cut down on costs coming from increasing rights fees and changing viewer habits, according to Ad Age.

NOW WATCH: The disturbing reason some people turn red when they drink alcohol

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.