Procter & Gamble deals agencies another blow

Hi! Welcome to the Insider Advertising daily for December 11. I'm Lauren Johnson, a senior advertising reporter at Business Insider. Subscribe here to get this newsletter in your inbox every weekday. Send me feedback or tips at LJohnson@businessinsider.com.

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Today's news: P&G strikes another blow at agencies, Disney's top movie exec could be headed for the door, and why adtech firm PubMatic is going public.

P&G is taking more of its ad buying in-house in a loss for advertising giant Omnicom

• Patrick Coffee reports that Procter & Gamble is taking programmatic ad buying for its baby products brands in house.
• P&G spends an estimated $60 million on digital advertising for baby products and Omnicom media agency Hearts & Science previously handled the account.
• The move is the latest step in P&G's ongoing effort to handle more of its massive ad budget itself and shift it away from agencies.

Read the full story here.

Hollywood insiders are speculating that Disney's Bob Iger, Alan Horn, and others are headed for the exit

• Disney's Bob Iger and Alan Horn are the center of speculation that they're about to depart, reports Claire Atkinson.
• The chatter comes as Wall Street wants to know details of Disney's plan to boost its subscription streaming business without hurting the film box office.
• Other Disney insiders said it would be wrong to say Horn is retiring, as nothing is imminent, though. Disney declined to comment.

Read the full story here.

The CEO of digital ad firm PubMatic lays out his plan to grow the firm post-IPO and survive the death of cookie-based ad targeting

• I spoke with PubMatic CEO Rajeev Goel about the adtech firm's post-IPO plans this week.
• The company is going public amid Wall Street's rocky relationship with adtech stocks and big changes like the death of third-party cookies threaten the sector.
• Goel said he sees a big opportunity for companies like his with the growth of ad-supported streaming video due to the pandemic.

Read the full story here.

More stories we're reading:

• Livestream shopping is a $125 billion market in China. Now, retailers like JCPenney are banking on it blowing up in the US. (Business Insider)
• The cofounder of YouTube's FameBit explains why she's betting podcasts are the next place 'influencers will proliferate' and what the typical ad rates are (Business Insider)
• The FTC just blocked the second DTC shaving company deal of 2020. A VC lays out the 2 paths forward for Billie if the deal with P&G collapses. (Business Insider)
• Disney+ has 86.8 million subscribers (Axios)
• Facebook's global ad machine is the company's $80 billion annual lifeblood. Workers say it puts profits over people. (BuzzFeed News)
• Adam Gerhart named global CEO of media agency Mindshare (Wall Street Journal)

Thanks for reading and see you on Monday! You can reach me in the meantime at LJohnson@businessinsider.com and subscribe to this daily email here.