ADVERTISING FIRM
Who is Rishi Shah: The man who defrauded Goldman Sachs, Google of $1 billion
Rishi Shah, co-founder of Outcome Health, has been sentenced to seven and a half years in prison for orchestrating a $1 billion fraud scheme involving his healthcare advertising startup. The case has impacted major investors and drawn attention to corporate accountability.
New Zealand to press ahead with media content pay law
New Zealand's government is pushing for a bill to make digital platforms pay media companies for news. The legislation, aligned with Australia's law, could affect companies like Meta Platforms and Alphabet Inc. The bill's authority will be supervised by an independent regulator, supported by the Labour party but facing opposition from the ACT New Zealand party.
66% of Indian consumers prefer to pay less in exchange for watching ads: Survey
The survey highlights evolving consumer preferences towards ad-supported streaming services in India, emphasizing the significance of tailored and relevant ad experiences. As consumers gravitate towards personalized ads and mobile streaming platforms, there is a growing need for streaming media companies to adapt their advertising strategies to meet changing consumer demands.
It's about can, not Cannes
The Pritzker Architecture Prize - 'Nobel Prize of architecture' - for instance, celebrates living structures, not scintillating sketches. Michelin stars are awarded to restaurants who deliver outstanding food daily and are reviewed yearly, not a one-time gastronomical creation. Oscars, Grammys, Emmys and Tonys are earned by scalable appreciation, not just conceptual craft.
UN chief tells consumer tech firms: own the harm your products cause
U.N. Secretary-General Antonio Guterres demands accountability from tech giants for the harm caused by their products and social media platforms. He launches U.N. global principles for information integrity to combat misinformation and hate speech.
Edu Tap fined Rs 3 lakh for misleading RBI Grade B exam ads
The Central Consumer Protection Authority (CCPA) penalised Edu Tap Learning Solutions with a Rs 3 lakh fine for deceptive advertisements. The advertisements claimed 144 students were selected for the RBI Grade B exam after their courses. The CCPA also directed the firm to cease the misleading ads and submit a compliance report within 15 days. Edu Tap concealed crucial details about the courses taken by successful candidates and misused the RBI emblem for authenticity.
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India-Pakistan clash could fetch $4,800 a second as cricket makes US push
India vs Pakistan: Global firms are splurging on advertising for the India-Pakistan cricket match in the US. The big encounter is set to take place in New York's Nassau County International Cricket Stadium on June 9, part of the ICC Men’s T20 World Cup, targeting the South Asian diaspora.
Ghatkopar hoarding was installed on weak foundation: Mumbai institute's report
A report submitted by a technological institute revealed that the hoarding that collapsed in Mumbai, claiming 17 lives, had been installed on a weak foundation. Despite the city's standards for wind resistance, the structure could only withstand 49 kmph winds, leading to tragedy. Investigations and arrests followed, uncovering negligence and lack of proper oversight.
Government seeks candidates for new chief at Indian Oil
The petroleum ministry recommended a tenure extension for SM Vaidya, but the prime minister's office rejected it. Speculation arises about Vaidya's future as his term nears an end.
Services activity growth eases to 5-month low in May
India's services sector output growth moderated in May, reaching its lowest level in five months, according to the HSBC India Services Business Activity Index. The index slipped to 60.2 from 60.8 in April, indicating a softening in services activities due to factors like severe heat waves and price pressures. While domestic new orders eased slightly, they remained robust, supported by strong demand conditions and successful advertising. Export demand also provided support, with new orders rising at the fastest pace in nearly a decade.
After beauty, skincare and clothing, this is Rihanna's latest business venture
Pop icon and billionaire singer Rihanna has made a foray into the global beauty business and decided to launch her hair care product 'Fenty Hair' at a time when the global hair care market is expected to grow by $19.6 billion to $107.5 billion from 2022 to 2027. Know in detail.
Australia should force Meta to pay for news, News Corp executive says
Meta could block news reposting if Australia enforces the 2021 law, similar to actions taken in Canada. Academics note increased misinformation spread in Canada since 2023 due to similar laws and reduced news promotion by Meta.
Amid the heatwave, a Re 1 water brand is out to upend branding with social impact
A husband-wife duo takes an unusual approach to advertising their product to ensure they can sell affordable drinking water.
Hoarding collapse: Court extends police custody of advertising firm's director till Thursday
A court in Mumbai has extended the police remand of Bhavesh Bhinde, director of Ego Media Pvt Ltd, by one day. Bhinde was arrested on May 16 in Udaipur, Rajasthan, following the collapse of an illegal hoarding in Ghatkopar that killed 17 people and injured over 70. The 120 ft x 120 ft hoarding fell onto a petrol pump during gusty winds and unseasonal rains. Police requested more time to investigate the "complex and extensive" case. Bhinde faces charges of culpable homicide not amounting to murder under IPC section 304.
Ecommerce fails to click for firms in Q4 as sales dip across segments
Online consumption lagged in the March quarter across segments like electronics, wearables and beauty. Delhivery said ecommerce delivery volumes declined 13% sequentially in the March quarter to 176 million, while on a year-on-year basis they were down 2%. Cofounder and CEO Sahil Barua indicated this slowdown comes after a strong December quarter.
What happened to our ad-free TV?
As streaming services initially promised an ad-free experience, the landscape is rapidly changing with ads becoming increasingly difficult to avoid. Major players like Netflix, Disney+, and Amazon Prime Video have started incorporating commercials in exchange for lower subscription prices. Even live sports on these platforms now include built-in commercial breaks regardless of the subscription tier.
Mumbai hoarding crash: Ad firm director Bhavesh Bhinde's police custody extended till May 29
Mumbai court extends police custody of Bhavesh Bhinde, director of advertising firm involved in hoarding collapse in Ghatkopar, claiming 17 lives.
Death toll in Ghatkopar hoarding collapse incident rises to 17
Raju Sonawane (52), who had suffered injuries after the hoarding collapsed on a petrol pump in Chheda Nagar locality during gusty winds and unseasonal rains, died during treatment at the KEM Hospital on May 19, a civic official said.
Zee Entertainment Enterprises shares rise 3% as firm swings back to black in Q4
Zee Entertainment Enterprises experienced a nearly 3% increase in its share price to Rs 144.4 during Tuesday's trading session on the BSE, following the company's announcement of a profit of Rs 13 crore in the March quarter of FY24. This marks a significant turnaround from the loss of Rs 196 crore reported in the same period last year.
BJP's Kirit Somaiya alleges Governmnet Railway Police of permitting Bhinde's firm to erect four more illegal hoardings in 2021
BJP leader Kirit Somaiya alleged that the Government Railway Police (GRP) granted permission for four additional "illegal" hoardings in Mumbai's Dadar to the company involved in the Ghatkopar billboard collapse. Bhavesh Bhinde, director of the advertising firm, was apprehended in Rajasthan and brought back to Mumbai. Somaiya criticized the lack of transparency in the tender process for the hoardings and claimed irregularities.
Netflix hits 40 million users for ad-supported plan
Netflix's ad-tier plan costs $6.99 per month, compared with monthly plans of $9.99 from Warner Bros Discovery's streaming service Max and $7.99 for Walt Disney's Disney+. Last month, Comcast-owned streaming service Peacock said it would raise prices of its plans, that would take its ad-supported plan to $7.99 per month.
Whether sale of products whose licenses were cancelled stopped: SC asks Patanjali
During the bail plea hearing for Sisodia, his lawyer noted that the ED and the CBI continue arrests in the money laundering and corruption case, indicating a protracted trial. The Supreme Court, reserving its order on the contempt notice issued to Ramdev, Balkrishna, and Patanjali Ayurved Ltd in a misleading advertisements case, inquired if the sale of suspended products ceased and urged for an affidavit
Contracts awarding work to private parties should not be cancelled without assigning reasons: SC
Supreme Court has stressed the importance of providing reasons before canceling contracts, considering the investments and expectations of private parties.
TikTok tells advertisers: ‘We are not backing down’
Sofia Hernandez, TikTok's global head of business marketing, declared that TikTok had gone from "being viral to vital" for businesses. The company's executives introduced new tools for running ads against trends and events like the Summer Olympics in Paris.
AIGF estimates USD 2.5 bn GST loss from offshore illegal, betting firms
AIGF's Roland Landers urges swift action against offshore illegal betting, causing a USD 2.5 billion annual loss. Concerns include user harm, lack of GST, IPL ads. Urges prompt SRO implementation for distinguishing legitimate platforms.
ZEE Media Corporation's arm enters into agreement to invest Rs 8.76 crore in PR firm Newsreach
The investment will be done through subscribing to equity shares and/or convertible equity linked instruments (Optionally Convertible Redeemable Preference Shares) of Newsreach.
Patanjali ads case: 'We will rip you apart': SC slams Uttarakhand State Licensing Authority over inaction
The apex court said the Authority remained in "deep slumber" and there was a clear attempt by it to "pass the buck" and somehow delay the matter despite it being informed about the misleading advertisements.
LS Digital's FY23 revenue jumps 35% to Rs 695 crore
Digital marketing firm LS Digital, formerly Logicserve Digital, saw a 35% revenue increase to Rs 695 crore in FY23 due to market growth, new business wins, and strategic expansion. Expenses surged 32% to Rs 669 crore, with advertising costs at Rs 598 crore. Net profit tripled to Rs 18.4 crore. LS Digital focuses on media, UI/UX, creative and communication, data and analytics, CX, and technology. Acquisitions have boosted capabilities.
PhonePe, Paytm eye sound box advertising; FMCG firms sign up for pilots
PhonePe and Paytm are testing audio ads on sound boxes at retail stores with FMCG brands. The ads, targeting impulse-buying, lack measurement tools for now, posing revenue challenges despite potential targeting opportunities.
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