What you need to know in advertising today
A few years ago, Booking.com, a hotel e-commerce site owned by Priceline, worked closely with a media-buying agency to figure out where to allocate its ad budgets. But Booking.com is about to cut out that middleman, and it could have big implications for the advertising industry.
This week, thousands of top executives from the media, advertising, and marketing industries will touch down in France for the annual Cannes ad festival. There, these bigwigs will receive awards and look to ink major ad deals. Yet hovering over the proceedings are questions about the future of the classic ad-agency business.
To read more about how the future of ad agencies is more in doubt than ever, click here.
In other news:
Oath CEO Tim Armstrong slightly backed off his claim of challenging Google and Facebook in online advertising. At a press conference hosted at the Cannes advertising festival by Oath, Armstrong said, "Our goal is not to directly compete with Google and Facebook. Our goal is to basically open up new relationships with consumers in a differentiated way."
How Fatherly turned a tiny website into a budding business that reaches 300 million people. Cofounder and CEO Mike Rothman estimates that Fatherly’s content can reach 300 million feeds per month.
NBC's Megyn Kelly controversy shows that even TV isn't safe for marketers. The fury over Kelly's decision to interview right-wing provocateur and conspiracy-monger Alex Jones, is just the latest affirmation that advertising in America is becoming a minefield.
Amazon is reportedly planning to cut jobs at Whole Foods. According to a Bloomberg report published Sunday, the Seattle-headquartered e-commerce giant is considering replacing Whole Foods cashiers with technology.
Consulting firms are crashing the party in Cannes, reports Digiday. Accenture Interactive, Deloitte, PwC, Ernst & Young and McKinsey will all be out in force at the festival.