Good morning. Here’s everything you need to know in the world of advertising today.
1. American Apparel has filed for bankruptcy. The troubled teen retailer says it will continue to operate its business throughout the process, with its retail stores, wholesale, and US manufacturing operations continuing without interruption.
2. Adblock announced it is being sold. The company, which was previously owned privately by its founder, did not mention a price and the buyer specifically requested it remained anonymous.
3. Here’s the incredible story of YouTube’s early days and how it rose to become the world’s most popular place to watch video. Former PayPal employees Chad Hurley, Steve Chen, and Jawed Karim had come up with the idea after two significant events in 2004 — Janet Jackson’s wardrobe malfunction at the Super Bowl, and the devastating tsunami in the Indian Ocean.
5. Adidas and Kia have refused to join other sponsors in calling for FIFA boss Sepp Blatter’s exit. Budweiser, Coca-Cola, McDonald’s, and Visa requested Blatter’s immediate exit on Friday, but Adidas and Kia declined to comment on his future at the top of football’s governing body.
6. The apparel start-up that vowed never to sell pants could be up for a free Super Bowl ad. Chubbies is one of 10 finalists for an Intuit QuickBooks contest for a free ad.
7. In a note to clients, Matthew Brooks of Macquarie Research said that print media companies — like Tribune Publishing — could be better served in the future by selling off their printing presses and buying their newspaper subscribers tablets instead. It’s a kind of “Netflix of news” model.
8. Here’s the story of Nike’s incredible road to becoming the world’s dominant sneaker retailer. Nike generates $US30 billion in annual revenue, but it wasn’t always that way.
9. These are the surprising things retailers do that millennials love — and hate. From offering free WiFi, to nostalgia.
10. Fewer young people are shopping at traditional retailers usually found in malls, Thomas Lee of the San Francisco Chronicle reports. The report suggests companies like Gap and Abercrombie would be better off if they had standalone stores, rather than units in malls.
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