The 10 things in advertising you need to know today
1. A report from the Association of National Advertisers (ANA) claims that US ad agencies have unethically padded their profits with secret rebate schemes. The 58-page report summarizes the findings of investigations firm K2 and says "non transparent business practices" are "pervasive" in the advertising industry. Advertising holding companies have responded to deny the report reflects the way they do business.
2. Marketers have also begun responding to the ANA report. P&G said it appreciated the ANA's "diligence" while Unilever said it takes the findings "very seriously."
3. We made a list of ad agencies that were caught engaging in similar behavior to that addressed in the ANA report. There is a long public record of ad agencies that have been to court over issues such as rebates.
4. Yahoo plans to sell its search technology and other patents that are estimated to be worth $1 billion. The intellectual property up for grabs dates back back to 1996 - Yahoo is expected to take bids until mid-June.
5. These are the 10 most valuable brands in the world. The annual BrandZ rankings place Google above Apple as the "most valuable global brand".
6. Snapchat redesigned its app to encourage people to read more stories. On Tuesday, Snapchat altered its Discover section to make the live stories it curates indistinguishable from content made by external publishers.
7. One in 10 people say they would switch to a mobile carrier that blocks ads, according to a report by research company Midia. While this report does not show that consumers are already changing carrier purely based on whether they offer ad blocking, it suggests that it could be a factor in the decision-making process in the future.
8. Verizon is about to launch a $3 billion bid for Yahoo's internet business, according to reports. The private equity firm TPG is also expected to submit a substantial bid before the second round deadline on Monday.
9. Netflix doesn't divulge ratings because of its status in the industry as a "frenemy" to traditional players in the TV industry. Netflix COO Ted Sarandos explained that if Netflix revealed its shows were watched at a dramatically higher rate than premium or broadcast TV, it would be bad for the suppliers of Netflix's shows.
10. Goat GIFs appeared on Facebook yesterday to encourage people to register for the EU referendum. Gifgoat.party took an image of a static GIF with the caption: "if you've got time to watch a goat gif you've got 2 minutes to register to vote."