Morning all, here’s a glimpse at all the media and marketing news you should know today.
1. Facebook's Q1 earnings were slightly below analysts' estimates rising by 42 per cent to $3.5bn, reports CNBC. The social giant posted it's figures at the end of trading yesterday afternoon.
2. The White House is seeking help from Silicon Valley to fight cyber attacks, says Reuters. The Obama administration wants technologists to come up with a system with strong encryption that could be pierced legally by one party without opening the door to others.
3. Periscope and Meerkat have been officially banned by the NHL, notes Mashable. Fans hoping to live-stream their rinkside experiences will find themselves out of luck, as NHL Deputy Commissioner Bill Daly vetoed the live-streaming apps in a memo.
4. Rocket Fuel has announced more than 100 layoffs as it seeks to reduce costs by $30 million, claims Business Insider. The beleaguered ad-tech company has seen the value of its stock drop more than 75 per cent over the past year and is to let go 11 per cent of its workforce.
5. Uber, Lyft, and other ride-sharing will soon be coming to Portland asserts The Verge. The city's council has narrowly approved a pilot program that will allow hire car services to run in the area. Uber got off to a controversial start Portland last year after launching without approval.
6. McDonald's is to close hundreds of stores in the near future, writes Time. The corporation will say goodbye to 350 poorly performing stores in Japan, the United States and China.The previously unannounced closings were disclosed on a conference call with Wall Street analysts yesterday.
7. Mobile ads have skyrocketed by 76 per cent in the last year, making digital a $50 billion business, according to a new IAB report. Adweek also notes that the digital advertising space grew 16 per cent last year compared to 2013 and totalled $49.5bn in sales.
8. And Coca-Cola has launched a review of its $400m US media agency account, says Media Post. The drink's company's current incumbent MediaVest will defend against a limited field that includes MediaCom, Carat and UM, which all have pieces of Coca-Cola in different parts of the world.