1. Reddit Reached $100M Ad Revenue Milestone By Direct Inventory Sales (AdAge) On Thursday, Reddit announced it topped $100 million in ad revenue in Q2. Reddit reached this milestone by reshaping its ad platform in April by not accepting programmatic ads to build a more direct way of selling inventory on its site. Reddit revealed its plans to raise $700 million from investors at a valuation of more than $10 billion. 2. DoubleVerify Uncovered New CTV Ad Scam, Cheating $6M Ad Revenue (AdAge) DoubleVerify uncovered a new connected TV ad scam that used screensavers to generate CTV devices impressions, even when the screen is off. Dubbed as “SmokeScreen,” fraudulent apps offer screensavers to users that have impacted nearly 10,000 devices daily and generated up to 10 million fraudulent requests each day, even when the device is off. 3. TikTok Reinforces Privacy Controls For Teenagers (Reuters) TikTok, a Chinese-owned short video-sharing app, introduced tougher privacy restrictions for teenagers on Thursday, in response to complaints that it has failed to safeguard kids from hidden advertising and inappropriate content. The improvements that are aimed at users aged 13 to 17, will be carried out internationally in the following months. 4. NYT To Launch Subscriber-Only Newsletters, Charges Older Ones (MediaPost) Of the roughly 50 newsletters the New York Times produces, 11 will become subscriber-only, including On Politics, Well, On Tech With Shira Ovide and Parenting, starting from September. The new for-pay newsletters include offerings from noted writers like John McWhorter and Kara Swisher. Nearly 15 million users read a Times newsletter every week. 5. Disney Beats Expectations In Q3 With Disney+ Subscribers At 116M (YahooFinance) Disney’s fiscal third-quarter earnings surpassed Wall Street’s projections on Thursday, with user growth at the company’s mainstreaming platform above expectations. Following the announcement, stock prices increased by more than 2%. Total Disney+ subscribers increased to 116 million, well-surpassing expectations of 113 million. 6. Trusted Media Brands Acquires Viral Video Publisher Junkin Media (DigiDay) Trusted Media Brands, the parent company of Reader’s Digest, said it acquired Jukin Media, best known for building brands including FailArmy and People Are Awesome from viral social media clips. Jukin has recently turned its brands into ad-supported connected TV and over-the-top channels. Financial terms were not disclosed. 7. Nielsen To Move Ahead Without MRC Approval (Variety) Nielsen has decided to move forward without the backing of the media industry’s Media Rating Council, after months of dispute between the media-measurement giant and the TV networks, whose viewers it has counted for decades. Although TV networks and big media buying agencies value Nelson’s rating, it operates without MRC’s “seal of approval”. |