Foursquare's pivot, Mondelez's challenge to agencies, Instagram's pitch to advertisers
Welcome to your weekly Advertising and Media Insider newsletter, where we catch you up on all the big stories we worked on this past week. What did we miss? Send me tips or feedback at firstname.lastname@example.org.Remember when people used Foursquare to broadcast their location? There's a graveyard of social apps that didn't make it, but Foursquare is a rare one that pivoted to build a new business by targeting people with ads based on their real-world location.
Last week, Lauren Johnson talked to the CEO of Foursquare about how the company, armed with $150 million in funding, is trying to become a location-based ad powerhouse with its purchase of Placed from Snap and potentially others.
The practice of targeting ads to people based on their mobile phone location is being challenged by the rise of privacy regulation, but Foursquare maintains its business is safe because it's based on people opting in to share their location.
Here are other stories we've been reporting. (Read most of the articles here by subscribing to BI Prime; use promo code AD2PRIME2018 for a free month.)
Oreo maker Mondelez's CEO says he's going to hold ad agencies more accountable - here's how
Joining other marketers that are demanding more of their ad agencies, the CEO of Mondelez International said he's pushing them to align their fees with the results they deliver. He also called out the challenges of digital advertising and said the company had to be more careful about its use of the medium.
Instagram's head of business says that there's 'definitely headroom' for stuffing more ads in the app - and it shows how vital Stories are to Facebook's future
Facebook is increasingly looking to Instagram to drive its ad revenue growth. One of its top execs talked through how the app is trying to get advertisers to spend more there, especially on its Stories format.
The Wall Street Journal has 2.6 million subscribers to archrival The New York Times' 4.5 million, but it's aiming to grow that number by making its content more widely available to new readers, including making content especially tailored to college kids and young adults.
Amazon is acquiring an ad server from bankrupt ad-tech firm Sizmek, giving it a new tool to compete head-on with Google. Here's what it means for marketers.
Amazon said it planned to acquire the ad server and creative tools from bankrupt ad-tech firm Sizmek to help it compete with Google. The jury's still out with industry insiders as to whether the pending acquisition will help the e-commerce giant expand its ad business, though.
Barstool Sports is creating a $1 million incubator program to help jump-start the next Casper
Everyone is trying to cash in on built-on-digital companies like Casper and Hims. The latest is Barstool Sports, which is looking to match its culture and sports brand with startups that are aiming at the same young male audience (and don't mind being associated with a company that's faced accusations of toxicity and misogyny).
Here are other tech, media, and advertising stories you should check out:AT&T was mostly to blame for pay TV's bleak quarter, and analysts say the rest of 2019 looks even worse