Good morning. Here’s everything you need to know in the world of advertising today.
1. Here’s why another Google stock buyback could be on the way. Citigroup analyst Mark May thinks there will be another buyback during Google’s Q2 earnings because he thinks the company has already depleted its original $5 billion buyback from its Q3 earnings in October.
2. MailOnline publisher Martin Clarke told us how he is conquering America by spending millions on luxury party yachts at the Cannes Lions advertising festival. “We consider it a good investment,” he said.
3. We asked YouTube’s content boss how its paid service is doing and why it is training its biggest stars to use VR. Kerry Merryman said she is “happy” and “encouraged” by the progress of YouTube Red.
4. Sales are exploding for a little-known soda brand with a cult following. LaCroix Sparkling Water has seen sales balloon from $65 million in 2010 to $226 million in 2015.
5. Iggy Pop spoke at the Cannes Lions advertising festival about his biggest fears, regrets, and why he feels better now than when he was 25. He also shared thoughts on his favourite — and hated — ads.
6. An invite was sent out for a Cannes party seeking “attractive females and models only.” It was sent by an events company on behalf of VaynerMedia and Thrillist Media, both of which immediately apologised.
7. Here’s why social media star Elliot Tebele — known better as F–kJerry — gave up on Tumblr. Ultimately, it came down to man power.
8. Pinterest has a gorgeous new office. You’ll find Pinterest’s HQ at 651 Brannan Street in San Francisco’s SoMa neighbourhood.
9. A former Apple manager explained why he couldn’t deal with the company’s secrecy any more. Jason Forrester, the former global data center manager at Apple, said: “Slowly, our desire to share our ideas with the world began to overshadow the thrill and pride of working for Apple.”
10. The FTC has hit ad tech company InMobi with a $4 million fine, ruling the business had deceptively tracked hundreds of millions of consumers — including children — without permission. The civil penalty has been suspended to $950,000, based on the company’s financial condition, and it must also delete all the information it collected from children.
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