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The 10 things in advertising you need to know today (GOOG, FB, PUB)
Jim Edwards
Good morning! Here's everything you need to know in the world of advertising today.
1. We interviewed AOL's consumer brand boss Jimmy Maymann at Cannes Lions advertising festival. He spoke to us about the Gawker trial, virtual reality, and Facebook Live.
2. It can cost an ad agency $1.1 million to enter its staff and work to the Cannes Lions advertising festival. With conference badges starting at €1,500 ($1,667) and entry fees for competition work start at €499 ($555), it costs a huge amount for companies to attend the festival, before they have even considered travel and accommodation.
3. Google cofounder Sergey Brin says Silicon Valley is a bad place to start a business. He recommends starting a new business outside of the Valley to avoid prohibitive costs, but then to move to the tech center once the business has gained traction.
4. Publicis CEO Maurice Lévy told Business Insider that Brexit left him "stunned" and unhappy. The advertising boss said that he respects the "decision of the people" but said the majority is not always correct.
5. Restaurant sales are nearly flat in the US according to The NPD Group, an industry research firm. People are pulling back on spending on eating out, despite the marketing efforts of large chains.
6. ModCloth, one of the most powerful Instagram retailers, is supporting a bill to crack down on using Photoshop in ads. The bill, H.R. 4445, would not ban edited images, but would establish guidelines for how Photoshop can be used, in order "to reduce the consumer harm."
7. This is how an extra $100 million investment made Papa John's America's favourite place to buy pizza. The restaurant avoided pouring the extra cash into marketing, instead focusing on quality, according to president and COO Steve Ritchie.
8. There is an indecipherable mystery behind the "No. 7" on Jack Daniels' most popular label. Jeff Arnett, the current Master Distiller for Jack Daniel's, admitted to Business Insider that he didn't know why the label says "Old No. 7".
9. AlmapBBDO won the title of Agency of the Year at the Cannes Lions advertising festival. The Brazilian firm won despite its involvement in a "sexist scam ad controversy," which saw the agency having to return a Bronze Lion for a sexually suggestive Bayer campaign the client didn't pay to run, reports AdAge.
10. The number of 360 uploads on YouTube has doubled in three months. YouTube's director of brand innovation, Debbie Weinstein, told The Drum that the site is now "a 3D content experience."
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