Good morning. Here’s everything you need to know in the world of advertising today.
1. Rubicon Project replaced its CEO. Frank Addante is stepping down and will be replaced by the head of Millennial Media, Michael Barrett.
2. An early investor in Twitter said he now hates the stock. Chris Sacca, known for publicly defending the social media company, revealed he sold all of his shares.
3. After its announcement of a new CEO, Rubicon Project’s stock dropped by 15%. The ad tech company is rumoured to be exploring a sale.
4. Channel 4’s CEO has left. The head of the major UK broadcaster said he stepped down to focus on his personal plans to launch a media enterprise.
5. A report from eMarketer cut ad revenues for Snapchat. Shares of its parent company, Snap, have continued to fall and hit an all-time low.
6. Online ad fraud could be costing advertisers more than double than expected. A new report estimates advertisers could be wasting $US16.4 billion on fraudulent traffic and clicks manufactured by bots in 2017
7. Accenture Interactive wants to help clients build in-house trading desks. As reported by Campaign, the consulting company is in discussions with clients to help them set up their own media buying operations.
8. UK startup EVRYTHNG raised $US24.8 million. The startup describes itself as a data management platform that allows companies to track products as soon as they are manufactured.
9. Marketers are seeing little return from Snapchat. According to Ad Age, a survey of digital marketers showed other social networks like Instagram, Twitter, and LinkedIn outperformed the recently IPO’ed company.
10. Vice Media is creating original shows for Snapchat. Ad Week reports the first show from the new deal will be an eight-episode dating series featuring Action Bronson.
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