Good morning. Here’s everything you need to know in the world of advertising today.
1. WPP’s Martin Sorrell revealed the thing that keeps him up at night worrying Amazon. The CEO said it was still early for the online retailer but considered it a less friendly “frenemy” than Google and Facebook.
2. Turner’s CEO said ad spend is moving from digital to TV. John Martin explained it was because television is a more measurable way for advertisers to reach consumers.
3. Telefonica is set to acquire geolocation data startup Statiq. Multiple industry sources confirmed the British startup was being acquired for $US4.2 million (£3.5 million).
4. NBC invested over $US500 million in the Snap IPO. It was part of a “strategic investment and partnership” for the media company, which has made $US220 million from the stake after Snap went public.
5. 42 million people watched NFL content on Snapchat. The football league partnered with the social media company for the past two seasons.
6. Rooster Teeth’s cofounder is “overjoyed” by YouTube TV. Burnie Burns, one of the founders of the YouTube video network, said the new television service is a big step forward for YouTube creators.
7. Facebook is looking to buy shows about sports, science, and gaming. The social network wants to acquire weekly shows with episodes lasting up to 30 minutes.
8. A small London investment bank got a last minute stake in Snap before the IPO. The firm, Connaught Limited, bought shares worth $US5.2 million.
9. Constellation Brands plans to spend more on advertising in 2017. According to AdAge, the company that owns Corona and Modelo projected a net sales growth of 16-17% for 2016, which it will reinvest in marketing.
10. Here’s what we know about Snap’s CTO Bobby Murphy. After the company’s IPO he has an estimated net worth of $US5.4 billion.
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