Good morning. Here’s everything you need to know in the world of advertising today.
1. Facebook admitted it artificially inflated its average video view time metric. It’s embarrassing for Facebook, but probably not as bad as it seems.
2. Yahoo has confirmed a major data breach. It could be the largest hack of all time — and it poses some serious questions about the Verizon deal.
3. The Guardian’s US operation reportedly slashed its revenue forecasts. Politico reported the US reported a loss of $15.85 million on revenue of $15.5 million in the year to April 2016.
4. Dentsu is facing a huge over-billing scandal. The holding company is in emergency talks with “more than 100 clients” in Japan who have questioned a possible 160 incidents of over-charging.
5. GroupM has promoted its North America chief Kelly Clark to the global CEO role. WPP’s media investment management arm also announced its global president Dominic Proctor is stepping down from the role but will continue working at the holding company on “strategic projects.”
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6. A Yelp defamation case could change the way we view free speech on the internet. On Wednesday, the California Supreme Court agreed to hear an appeal by Yelp.com, after a lower court judge ordered the review site to remove a “defamatory” user-published comment.
7. Google pumped a bunch of money into Airbnb. Airbnb raised $555 million at a $30 billion valuation, with Google Capital and Technology Crossover Ventures leading the financing round.
8. Chipotle spent millions launching a rewards program for customers — but nobody cared. Chiptopia has more than 3.1 million users, but it has failed to address the brand’s customer perception.
9. LinkedIn launched LinkedIn Learning, its first major product news since Microsoft announced it would be acquiring the company. LinkedIn Learning provides online skills training classes.
10. Adidas and Under Armour are challenging Nike like never before. Morgan Stanley said Nike is facing unprecedented headwinds, spurred by competition from its rivals.
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