Tencent raises $6 billion with bond market issue. Financial Times to buy stake in Singapore-based media start-up. Ralph Lauren consolidates global media account. Conde Nast names new global CEO. Australia clamps down on social media companies. ITV launches programmatic platform. SnapChat stocks rise after ad announcement. Accenture to buy Droga5.
Tencent raises $6 billion with bond market issue
Social media giant Tencent is the latest in a slew of media companies to raise funding through a bond issue. The $6 billion that the company raised is the biggest amount so far this year in Asia.
Tencent’s bond issue came just hours after Chinese streaming film Bilibili raised $824 million from a convertible bond and share sale in New York, and just days after streaming firm iQIYI raised $1.05 billion from a convertible bond sale, also in New York.
For more information, published by Variety, click here.
Financial Times to buy stake in Singapore-based media start-up
A report by TechCrunch is indicating that the Financial Times (FT) is eyeing a purchase of Singapore-based media start-up, Deal Street Asia.
Sources say the deal will include a capital investment of around $5 million, for the Asian entity.
If the deal goes through, it will be the second acquisition that the FT has made of independent media entities in the past couple of months, having acquired a majority stake in the Europe-based The Next Web in March.
Mumbrella Asia has more details on the deal, click here.
Ralph Lauren consolidates global media account
Fashion brand Ralph Lauren has consolidated all of its global media buying and planning work with four agencies.
Publicis’ Zenith was the big winner, being named agency of record for global strategy and buying, and securing most of the business.
11 agencies were involved in the pitching process, but their names were not revealed.
Ralph Lauren used to work with 12 outside partners.
For more information, published by AdWeek, click here.
Conde Nast names new global CEO
American mass media company Conde Nast has appointed Roger Lynch as new global CEO.
This after the company recently combined its US and international arms, resulting in the departure of CEO Bob Sauerberg.
Lynch is the former CEO and president of Pandora.
To see more details, published by MediaPost, click here.
Australia clamps down on social media companies
Australia has leaped to the front of a global movement to hold social media companies responsible for inappropriate content posted on their platforms, by passing new legislation.
Companies will face huge fines and possible jail time for their executives, if they don’t act swiflty to remove “abhorrent violent material” from their platforms.
This is partly a response to the New Zealand gunman that recently live-streamed his rampage and massacre at two mosques.
The New York Times has more details, here.
ITV inks exclusive deal with Amobee for addressable ad sales hub
Britain’s biggest commercial broadcaster, ITV, has signed an exclusive UK and Ireland licensing agreement with Amobee, a global digital advertising technology company, for end-to-end programmatic buying and selling of premium video inventory on the ITV Hub.
“This agreement enables ITV to respond to our customers’ needs of frictionless targeted advertising in a brand safe environment complementing what they currently do on our channels,” said Carolyn McCall, CEO of ITV.
“It accelerates the strategic development of our VOD advertising capabilities and provides a technology platform that will enable ITV to create an industry standard for VOD to match the established system for linear advertising.”
ITV will launch the new, fully programmatic, premium advanced advertising platform using Amobee’s advertising technology, which allows advertisers complete control over the purchasing of their campaigns across ITV’s premium VOD service, the ITV Hub.
For more, read the story on ITV.com.
Accenture’s acquisition of Droga5 has ad world abuzz
In news that had the agency world buzzing, the New York Times reported that Accenture was planning to buy Droga5, an independent ad agency.
The newspaper reported Brian Whipple, CEO of Accenture Interactive, saying the company was working with clients to “reinvent how consumers buy their particular products and services”. Whipple “pointed to the development of wearable devices for Carnival Cruise Lines and new fitting-room technology at clothing stores”.
It said the acquisition reflected the advertising industry’s rapidly changing competitive landscape.
Read the New York Times story here.
SnapChat is taking on Facebook using privacy as a differentiator
Snap is creating new ways for its advertisers to reach users outside of the Snapchat app with its new Snap Audience Network. “It claims the tool will extend an advertiser’s audience to third-party apps without compromising user privacy,” CNN Business reported.
A Snap executive told media that Facebook’s products were doing damage to society, and that CEO Mark Zuckerberg should address the company’s messes before investing in the future, when asked about Facebook’s new privacy-focused vision for his company.
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