It was the week that the TV industry sounded the alarms: Work together. Change who you are. Or die at the hands of FANG.
There’s no doubt that executives are talking up a big game when it comes to defending the ad industry against Facebook, Google, Amazon, and Netflix. They spent much of Advertising Week last week vowing to work together to battle the FANG titans after all.
The question is, how fast do they really want to move?
To read more about how TV execs are vowing to work together on advertising, click here.
In other news:
Google is to shut down its failed social network, Google+, after The Wall Street Journal reported that the firm covered up a major security breach.Google discovered in March that it had exposed personal profile data of hundreds of thousands of Google+ users, but chose not to go public with that information.
In the Google+ case, the lack of transparency from Google is likely the biggest problem for managers, experts say. They added that following the Cambridge Analytica case at Facebook, the new issue with Google+ gives US lawmakers more reason to adopt rules similar to those in Europe.
Facebook launched its video-chat and smart speaker device, Portal, on Monday and reactions have been largely sceptical. The launch comes less than two weeks after Facebook reported the biggest data breach in its history, and months after its Cambridge Analytica data scandal.
Snap is close to a record low after analyst reportedly says it’s ‘quickly running out of money.’MoffettNathanson analyst Michael Nathanson was also sceptical of CEO Evan Spiegel laying out a path to profitability in 2019 in a recent internal memo.
A New York City marketing agency is letting its employees opt for a 4-day workweek – but only if they’re willing to take a pay cut. Grey is giving its employees the option to take a four-day workweek, in exchange for a 15% pay cut.
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