Good morning. Here’s everything you need to know in the world of advertising today.
1. Twitter confirmed it is laying off 8% of its global workforce. Here’s the email CEO Jack Dorsey sent to staff.
2. We spoke to two of the New York Times execs whose job it is to help double digital revenue to $US800 million by 2020. The Times is placing a big focus on native advertising.
3. Soho House is building a co-working space in London to rival the likes of WeWork. The new space is adjacent to the Shoreditch House location, which is popular with advertising and media types.
4. Axel Springer has blocked ad block users from Bild, Europe’s top-selling tabloid. Springer said visitors to the website of Bild, Europe’s top-selling tabloid, will be asked to switch off the ad blocker or pay a monthly fee of 2.99 euros ($US3.40) to browse the website mostly ad-free.
5. Wal-Mart workers bash their employer in a powerful new national commercial. In two 30-second spots, the workers claim that executives treat them like they are “disposable,” cut their hours and benefits, and give them erratic schedules.
6. Under Armour is on pace to become one of the fastest-growing sports brands in history. The company is on pace to reach a staggering $US20 billion in revenue by 2025, up from nearly $US4 billion this year, according to Morgan Stanley analysts.
7. One of the biggest brands of the 90s is poised to make a comeback. Timberland has reinvented itself.
8. Facebook just took a giant leap into video that will raise alarm bells at YouTube. The company announced that it’s testing out a long-rumoured Suggested Video feature that will show Facebook users a bunch of related videos in a row after they have tapped one from their NewsFeed.
9. Marketers might be falling out with product placement, The Wall Street Journal reports. The number of product placements during the first week of the new TV season declined 45% to 104, according to Nielsen.
10. Ad tech firm Rocket Fuel’s president Richard Frankel is changing role at the end of this week. He will remain at the company, but serve as executive vice president “where he will focus on strategic projects, corporate development, and ongoing engagements with large clients,” according to an SEC filing.
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