Good morning. Here’s everything you need to know in the world of advertising today.
1. The UK government brought out its long-awaited Childhood Obesity Plan, which includes plans to introduce a soft drinks tax. However, the plan doesn’t include expected measures to curb junk food advertising to children.
2. Coca-Cola says the UK soft drinks tax “is not the right response.” The soft drinks company says the plan will only serve to hit consumers’ pockets, damage businesses, and that it won’t reduce obesity rates.
3. Michael Phelps’ new Sports Illustrated cover could make Under Armour furious. Under Armour’s star athlete is wearing Nike.
4. Pinterest has finally started selling video ads. The New York Times reports that the silent autoplay video ads will begin appearing on the Pinterest feed from Wednesday.
5. New guidelines led to a big change for uniforms at the Olympics. Brand logos are showing up more than ever.
6. Snapchat plans to more than double its workforce in New York City. The company has agreed to create 396 jobs in the state of New York in exchange for tax breaks totaling up to $5 million.
7. Russian billionaire Evgeny Lebedev tried to buy The Daily Telegraph, The Financial Times reported. Lebedev, who owns The London Evening Standard, was told by The Telegraph Media Group’s chairman Aidan Barclay that the title was not for sale.
8. Mark Zuckerberg said he regretted having to spend $2 billion on Oculus in order to get into virtual reality. “I actually view that as, you know, if we’d done a better job of building up some of the expertise to do some of that stuff internally, then maybe we wouldn’t have had to do that” — but he added that he’s happy with the investment.
9. McDonald’s has had to pull its Happy Meal fitness bands. People had reported skin irritation after wearing them, according to AdAge.
10. Tencent reported strong second quarter results. Net profit rose 47% to 10.73 billion yuan, while revenue was up 52% to 35.69 billion yuan, beating analysts’ estimates.
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