Good morning. Here’s everything you need to know from the world of advertising today.
1. Snapchat parent Snap is publishing its first financial results since going public, and investors will be looking for signs it can make money from a smaller user base than Facebook. Analysts predict net loss per share of $US0.17, and revenue of $US159 million.
2. Amazon unveiled the Echo Show speaker on Tuesday with a 7-inch touchscreen that can make video calls. It costs $US229.99 and will start shipping in June.
3. Snapchat will now let you replay messages forever. Now if you open a snap, you can replay it for as long as you like but the message will still disappear when you close it. Snapchat also added new creative tools like the ability to draw with emojis.
4. WPP-owned agency Possible has acquired a company that helps brands develop their marketing strategies for Amazon. Marketplace Ignition will help Possible’s clients navigate Amazon’s growing ad business, according to the Wall Street Journal.
5. An M&A adviser who helped Accenture buy an ad agency has predicted that an IT group might acquire one of the “big six” agency holding groups in the next five years. Clarity’s Ben Tolley told Campaign that a firm like IBM could do the unthinkable and snap up WPP, Omnicom, Dentu, Havas, Publicis or Interpublic.
6. News Corp reported revenue of $US1.98 billion, with CEO Robert Thompson taking the chance to bash Google over brand safety. According to The Drum, he said Google’s dominance meant advertisers were “juxtaposed with jaundice on extremist websites.”
7. The FTC sent a warning letter to celebrities including Jennifer Lopez, Sean “Diddy” Combs, and Naomi Campbell about the way they promote products on social media. The letters clarified that they should post #ad against any promotional posts.
8. Yahoo spent $US16 million in its first quarter dealing with its 2014 hacking attacks. It spent $US5 million on a forensic investigation, and $US11 million on non-recurring legal costs.
9. Facebook CEO Mark Zuckerberg has steered clear of Donald Trump in public, but has spoken to him several times over the phone. It isn’t clear what the two said to each other, but their relationship is complicated — Zuckerberg criticised Trump’s travel ban, and has had to address the problem of fake news on Facebook.
10. Yelp’s stock plummeted after the company missed on its earnings guidance. The company reported $US197.3 million in revenue, missing analyst estimates of $US198.4 million, and slashed its sales forecasts for the year.
Get the latest Snap stock price here.
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