Good morning. Here's everything you need to know in the world of advertising today.
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The 10 things in advertising you need to know today
Facebook made $8 billion in revenue, ad tech firms team up against the Facebook and Google duopoly, and Grey finally filled its global chief creative officer post.
Comet Ping Pong, the US pizzeria at the center of the pizzagate fake news conspiracy theory.
1. Facebook reported $8 billion in revenues for its most recent quarter. The company blew past analyst expectations, and the bulk of revenue came from mobile advertising.
2. Ad tech's brightest star Criteo sees an opportunity in the closure of Twitter-owned rival TellApart. CEO Eric Eichmann said the wind down was "good news" because it means Criteo could scoop up TellApart's clients, and perhaps partner with Twitter as a publisher.
3. Storyful and ad measurement company Moat have partnered to monitor fake news and hateful content online. Storyful is owned by News Corp, and the pair will compile a blacklist of sites which they will distribute to agencies and advertisers to help them decide on ad placement, according to Adweek.
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4. Facebook is going to employ 3,000 moderators to help it keep live video clean. The moderators will prevent crimes, suicides, and other inappropriate content from going live after incidents like a Thai man killing his child and then himself on Facebook Live.
5. Ad tech players including AppNexus, LiveRamp, and Media Math have launched a consortium to take on the advertising duopoly of Google and Facebook. The move should make it easier for media buyers to target ads at people outside the 'walled gardens' of the two companies, according to The Drum.
6. YouTube was reportedly rejected in an attempt to get TV-style accreditation for its viewing figures from UK ratings organisation Barb. According to Campaign, YouTube wouldn't allow Barb to insert code into its site.
7. Grey has hired former BBH creative chairman John Patroulis as its global chief creative officer. The post had been vacant for more than a year after predecessor Tor Myhren left for Apple's marketing department.
8. Adam Crozier, chief executive at UK broadcaster ITV, has stepped down after seven years. Finance director Ian Griffiths will step into a combined chief operating officer and finance director role until Crozier's successor is found.
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9. Facebook has changed the way it reports financials to show stock-based compensation to employees. The shift will initially make Facebook's numbers look worse, and the company's stock fell accordingly.
10. WhatsApp went down on Wednesday, leaving 1.2 billion users without service for several hours. WhatsApp didn't explain the reason for the outage, but did say the issue was internal.
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