What you need to know in advertising today
Tech companies are aggressively pushing into TV as they view the $70 billion industry as ripe for changes in using digital data to better target and measure TV ads. For example, The Trade Desk has hooked its programmatic pipes into Hulu, Roku and Sony's Crackle to sell automated ads. All told, ad-buying firm Magna Global expects OTT to generate $2 billion this year, up 40% from last year.
However, a growing number of challenges - supply shortage, fraud, brand safety, limited data, a lack of production standards - threatens to limit the flow of ad dollars into streaming TV.
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In other news:
Pinterest is talking to bankers and has hired a key exec as it readies itself for a 2019 IPO. The news comes on the heels of Pinterest hiring former Google and Alibaba exec Jane Penner as its head of investor relations, Business Insider first reported last week.
CBS considers dropping Nielsen ratings contract as TV landscape changes. CBS' contract with Nielsen is valued at over $100 million a year and it expires at the end of the year, Variety reported.
Facebook says there's an innocent explanation for why it allowed Spotify and Netflix to access your private messages. The company said the access was to allow users of those apps to share messages with each other via Facebook Messenger, like music recommendations on Spotify and movies on Netflix.
Advertisers' top trade group is pushing the FTC to advocate for a new federal law around the collection and use of consumer data. The group argued state regulation is costly and confusing, The Wall Street Journal reported.
And just in time for the final holiday-shopping rush, Google has released the perfect ad: a "Home Alone" remake featuring a 38-year-old Macaulay Culkin. There were updates in the 2018 rendition featuring Google Home products and their capabilities.