GroupM forms commerce unit under Nexus performance hub
Media investment company aims to standardize its commerce capabilities across markets and develop technology to help clients navigate an increasingly fragmented marketplace.
Snap revenue falls 7% in Q1
The parent company of Snapchat said advertising demand was impacted by the platform’s transition to click-through conversions.
Meta restores revenue growth as newer ad formats show promise
Following three successive quarters of decline, Meta reversed its fortunes in Q1, crediting much of its performance to AI.
YouTube’s ad revenue decline continued into Q1
Alphabet executives assured investors that ad spend has begun to stabilize across Google properties as revenue from its video streaming platform has now retracted for three consecutive quarters.
WATCH: Ben & Jerry’s joins the fight to end ad industry’s fossil fuel work
The Unilever-owned ice cream brand is giving out free ice cream calling out oil and gas companies as brands get feisty at SXSW in Austin, TX.
Lush declares war on Google and big tech
As part of its “big tech rebellion,” the cosmetics retailer is slashing the “millions” it spends on Google ads and cutting platform investment by a third, redirecting customers onto its app and into stores.
Dept lays out plan to drive 10% of revenue from AI by 2025
Global CEO Dimi Albers tells Campaign the launch of a dedicated AI practice will create more jobs rather than reduce them: ‘AI won’t replace people, but people who use AI will.’
GroupM and Scope3 to develop omnichannel carbon planning tool
Agency network has also updated its carbon measurement methodology, which it hopes will become an industry standard.
Disney to shave $5.5 billion in costs, impacting 7,000 jobs
Media conglomerate, which saw ad revenue across its streaming services decline in the most recent quarter, reveals major reorganization as Bob Iger retakes the helm.
Meta’s Nicola Mendelsohn navigates through ‘year of efficiency’
Mendelsohn, who oversees Meta’s multi-billion dollar ad business, believes the tech giant has been ‘underestimated’ and is ‘bullish’ about its new focus.
Google ad revenue falls in Q4, reversing several years of growth
Ad revenue across Google properties was $2.2 billion lower in the quarter than a year prior as shrinking brand budgets spread to search.
Accenture brings on Magic Leap chief design officer to help lead its metaverse business
James Temple to head up Accenture Song’s metaverse capabilities, succeeding Mark Curtis, who is moving to its global sustainability studio.
Mark Zuckerberg says 2023 will be ‘year of efficiency’
Meta CEO promises continued streamlining after reporting a 22% hike in costs and expenses in Q4.
IPG hires long-time Accenture exec to oversee commerce strategy
Jeriad Zoghby tasked with unifying IPG’s commerce expertise and identifying opportunities for growth.
Twitter improves brand safety parameters as ad revenue craters
New integrations with DoubleVerify and Integral Ad Science — initiated prior to Elon Musk’s takeover — allow brands to monitor the Tweets their ads run adjacent to.
Martin Sorrell and Wesley ter Haar are ‘optimistic’ about a ‘tougher’ year ahead
The Media.Monks leaders outline their strategy to appease ‘anxious’ advertisers in a deteriorating economic environment that analysts say is ripe for innovation.
DOJ sues to break up Google’s ad business
The U.S. Justice Department calls for Google to be forced to divest DoubleClick and AdX.
Netflix wants ad tier to be ‘as large as Hulu’
Streaming giant is aiming for its ad-supported tier to become a $3 billion business, surpassing more established players.
Netflix cofounder Reed Hastings hands over CEO reins
Hastings cedes control to Greg Peters and Ted Sarandos as streaming giant’s Q4 subscriber growth exceeds expectations.
Pinterest pitches itself as ‘positive’ reprieve from social media ‘toxicity’
The platform outlined actions it has taken to nurture a brand safe environment in a colorful installation at CES 2023.