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First, a quick programming note: We will not be publishing the newsletter on Monday due to Labor Day. Enjoy the long weekend, and see you on Tuesday!
Today's news: What
Facebook's decision to halt new political ads will have big implications for last-minute campaigns but little impact on its ad business
- On Wednesday, Facebook said that it would stop accepting new political ads a week before the US presidential election in November to allow for more time to review and fact check ads in an effort to crack down on misinformation.
- I spoke with a handful of political ad agencies who said the move to ban last-minute ads could push spend to streaming TV and programmatic platforms.
- But advertisers can work around the new ban, and the impact on Facebook is likely to be minimal since
political advertising is a tiny amount of its business.
Read the full story here.
TikTok is testing an in-video shopping button for Shopify and Teespring storefronts. Here's what creators who are using it think of the e-commerce feature.
- Dan Whateley reports that TikTok is testing a new shopping button that could help the app compete with Instagram and YouTube in e-commerce.
- The buttons link to e-commerce platforms like Shopify and Teespring and users have linked to websites for AllBirds and Steve Madden.
- The feature helps influencers link to their merch and direct-to-consumer products, a growing revenue stream for many creators.
Read the full story here.
New Nielsen data shows how valuable Netflix's library of old TV shows is, even as the streamer's own 'top 10' metric favors its original series
- Netflix invests heavily in original content but non-original hits like "Grey's Anatomy," "Shameless" and "The Office" keep viewers glued to the streaming service, reports Travis Clark.
- In Nielsen's first weekly list of the top 10 TV shows in the US on the platform, only one of its shows — "The Umbrella Academy" — made the list.
- The list shows why
media companies like WarnerMedia and NBCUniversal are rapidly scooping up exclusive distribution rights for shows including "Friends," and "Parks and Recreation."
Read the full story here.
More stories we're reading:
- Read the full pitch deck that helped livestreaming startup Restream raise $50 million amid the pandemic (Business Insider)
- The biggest question looming over TikTok's acquisition is how the app would change under new ownership. Here's what experts say could happen if Microsoft, Walmart, or Oracle took over. (Business Insider)
- Google has resumed performance reviews, but some employees are anxious that the new, longer 12-month cycle will hurt their chances to get promotions (Business Insider)
- Apple to delay iOS change roiling mobile ad market (The Information)
- Pinterest says it will no longer allow ads on elections-related content, employees get time off to vote (CNBC)
- New 'LUMAscape' highlights Black-owned businesses in media and marketing (Wall Street Journal)
Thanks for reading and see you on Tuesday! You can reach me in the meantime at ljohnson@businessinsider.com and subscribe to this daily email here.
— Lauren