What you need to know in advertising today
The most disruptive part of the proposed regulation, according to tech industry insiders and analysts, is the requirement that companies obtain consent for any data they keep on their users. Old data will not be exempted or "grandfathered in" under the new law.
As it currently stands, that means companies will have to re-obtain consent from all their existing users for all the data they are currently storing on them, no matter how old, according to several analysts and policy experts.
In theory, the law will ban Facebook from using the data it already has, unless the company can persuade you to re-register your permission for all the info you have already given the company.
To read more about how Facebook and Google will be affected, click here.
In other news:
Ad tech company Criteo's business was supposed to get destroyed by Apple and European regulators - yet it just had a killer quarter. Criteo, for its part, said that it was ready to tackle GDPR.
Salon is mining cryptocurrency via the web browser of any reader who refuses to turn off their adblocker. The web publication is being totally upfront about its cunning solution to the problem of people who think the web should be free, giving its readers a choice: They can turn their adblockers off.
If brands really want to scare Facebook and Google, there's a simple way to do it. Advertisers don't have much leverage, but one way they could hurt the tech giants is to thwart their plans to grab TV ad spending, which would mean cutting off money to programs like Facebook Watch and Google Preferred.
The CEO of Flipboard believes that Apple News is "a product living in the past." Mike McCue criticised Apple for a lack of social features in its news app.
Some people involved in Google's ad-blocking policy that goes into effect today are saying that Google dominated the process and steered decision-making to favor its own ad formats, the Wall Street Journal reports. But Google is deeming it the result of a monthslong, collective effort among many companies to move the publishing industry away from intrusive advertising.
On the publisher side, however, several publishing executives are saying that Chrome's ad blocker will ultimately improve the digital advertising landscape. But they aren't thrilled that a single company has the clout to transform the industry.
Ad agency holding company Interpublic Group reported its earnings on Wednesday, and Omnicom followed this morning. After lackluster growth through most of 2017, IPG set a target for organic revenue growth of 2% to 3% this year, while Omnicom too set organic growth for 2018 at an increase of 2 to 3%.
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