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Apple released its long-awaited software change that, among other things, requires developers to get users' permission to track them across other sites and apps - but it's already been having ripple effects:
- Advertisers are fretting about how Apple's policy will limit campaign measurement and attribution, especially on Facebook.
- The change could wipe out as much as 7% - or $5 billion - of Facebook's total revenue in the second quarter of 2021, estimated mobile consultant Eric Seufert.
- There's opportunity for others as marketers lean more on first-party data like email addresses and look for help solving issues like measurement and identity. We identified 12 companies best positioned to ride out Apple's privacy changes.
- The software change has made some companies attractive M&A targets by others seeking to build out mobile advertising and measurement capabilities.
- Meanwhile, As Apple tightens the screws on ad tracking, it's preparing a new ad format of its own. Its Suggested Apps ad format opens up a potentially lucrative new revenue stream as other tech platforms like Facebook and Snap, have said Apple's changes could hurt their businesses.
Applehas made privacy central to its brand. Nevertheless, a 2015 iAd pitchdeck obtained by Insider shows how it was happy to promote personalized advertising on the back of iTunes data, including segments such as their age, gender, and past interactions with ads.
Instagram's new creator toolsNew monetization features are pivotal for Instagram and Facebook as they compete for creators with platforms like YouTube and TikTok. Sydney Bradley got the details on new ways the companies are trying to help creators make money, including:
- Putting more resources toward creator shops and commerce using Instagram's shopping features.
- Introducing native-to-Instagram affiliate-marketing tools that will let creators "get a cut" from the sales they are driving on Instagram.
Read the rest here: Mark Zuckerberg outlined new tools Instagram is building to help creators make money
Meet Edelman's Lisa Ross
Sean Czarnecki caught up with the new US chief of Edelman, the world's biggest PR firm. Ross, the first Black woman to lead a major PR agency, is charged with overseeing the firm's biggest regional business and bolstering its diversity efforts. From his interview:
Hiring is not the problem. Retention is where we struggle in terms of creating a culture where people feel like they belong and can contribute and don't have to code-switch.
I also think sponsorship is important. We have recently been more intentional about conducting talent reviews to help identify career paths, promote from within, and provide additional opportunities for exposure and learning.
While we focus on all employees, it is important to ensure specific focus on areas where we need to increase representation.
Read the rest here: Lisa Ross just became Edelman's US CEO. She talks about facing discrimination in her rise to the top, dealing with burnout, and how she plans to not just hire but retain people of color.
Other stories we're reading:
- CNN Business has launched an internal investigation into the treatment of female employees (Insider)
- DraftKings buys rights to podcast by former ESPN host Dan Le Batard (WSJ)
- We mapped out the 112 most powerful people at WarnerMedia after CEO Jason Kilar's leadership shake-up. Here's our exclusive org chart. (Insider)
- 18 YouTube stars break down how much they get paid per month for their videos (Insider)
- The podcast paywall wars have arrived (Axios)
- Gravity Blanket's CEO shares how he used his advertising experience to launch a business that doubled its revenue in three years (Insider)
That's it for today. Thanks for reading, and see you next week!