Good morning. Here’s everything you need to know in the world of advertising today.
1. “Peppa Pig” owner Entertainment One knocked back a takeover bid from ITV. The offer valued Entertainment One at close to £1 billion ($1.3 billion).
2. P&G, the world’s biggest ad spender, said it is cutting back on targeted Facebook ads because they were not effective. P&G CMO Marc Pritchard said: “We targeted too much and we went too narrow.”
3. Yelp’s stock surged last night after posting a surprise profit in its second quarter. Revenue also came in above expectations at $173.4 million, versus predictions of $169.8 million.
4. Disney has revealed details of what the cable-free ESPN streaming service is going to look like. It will include content that ESPN had already licensed but wasn’t putting on air.
5. Yahoo’s most important business stopped growing. And Yahoo says Mavens (mobile, video, native, and social) is going to shrink even more.
6. Facebook is taking a stand against ad blockers. It has tweaked its tech to prevent ad blocking software from working on its desktop site.
7. Chipotle is being accused of ripping off a tiny burger chain. Tasty Burger CEO David Dubois said in a statement Monday that the logo and mark for Chipotle’s new chain — Tasty Made — is “unmistakably similar to our own in colour, shape and design.”
8. Arsenic, the Snapchat-based Playboy competitor has raised a $3 million seed round. More than 700,000 people watch the company’s videos every day.
9. Google Chrome will block most instances of Adobe Flash by September. By December, Adobe Flash will no longer be turned on by default, the company announced on Tuesday.
10. Newspaper trade group, the Newspaper Association of America, has hit back at comedian John Oliver’s rant about the sad state of print journalism, The Wall Street Journal reported. ;”I would just ask Mr. Oliver to spend more time talking about what the future of news could be, and less time poking fun at publishers who are trying to get there.” said NAA CEO David Chavern.
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