What you need to know in advertising today

GDPR, a major new piece of European regulation that addresses how EU citizens' data can be used by corporations, kicks in today.

Any organisation that is handling Europeans' data is affected, regardless of where it is in the world. Organisations in violation of the GDPR won't just get a slap on the wrist - there are some serious potential penalties.

Here's the quick-and-dirty version of what you need to know.

In related news:

Europe's privacy law GDPR may hand an advertising opportunity to two unexpected players. Target and Walmart could benefit because while advertisers plan to keep spending on digital media, they're likely to turn to companies that have direct data relationships with consumers.

GDPR kicks in today but Mark Zuckerberg said most people still opt in to some of Facebook's most invasive features. He said people chose to let Facebook track their use on apps and websites off Facebook to inform targeted ads.

In other news:

Facebook and Twitter are cracking down on political ads with new requirements and labels. Political and issue-based advertisers must now go through a verification process before they can buy ads on Facebook, Instagram and Twitter.

Disney wants to kill Netflix, but Comcast has totally different reasons for wanting Fox. Disney's move is about taking on Netflix, while Comcast's is about amassing power - and hedging its bets - in a media landscape that is set to be increasingly dominated by a handful of titans.

'This is what the future is going to be': The CMO of JPMorgan Chase explains why she's spending more time with Adobe than ad agencies. Kristin Lemkau questioned the long-term sustainability of today's ad agency model, saying that it was challenged.

Arguments over tweets and tensions with owner Disney increased ESPN's anxiety regarding its future in an era of cord-cutting, reports The Wall Street Journal. The deep dive takes a look at how politics have weakened the sports giant.

Ralph Watson, the former chief creative officer of CP+B's Boulder office, has filed a defamation lawsuit against the anonymous Instagram account Diet Madison Avenue, reports Campaign. The account, which has built up a following for calling out allegations of sexual-harassment and discrimination in the ad-industry, went dark this morning.