September 13, 2024
Google Antitrust Trial Shapes Future of Online Ads
The world of online advertising is being upended by federal investigations into Google. Testimonial from the DOJ’s antitrust trial alleged manipulation by the tech giant to stifle competition. A ruling against Google could have far-reaching impacts across the ad sector, including more scrutiny of other major tech players like Meta and Amazon, increased regulation in the ad tech industry, and potentially reshaping how digital ads are bought and sold.
Testimony also detailed how Google’s control over both ad exchanges and ad-serving tools forces publishers and advertisers to stay within its ecosystem, limiting competition and innovation in the ad tech space. Google faces challenges outside the U.S., too. The European Union’s highest court upheld a €2.4 billion fine for antitrust violations related to its price-comparison shopping service.
Tech and Media Firms Face Ongoing Restructuring
Major consultancies and tech firms are restructuring amidst a trying time. PwC is laying off 1,800 employees, representing 2.5% of its U.S. workforce, marking its first formal job cuts since 2009. Tech layoffs in August surpassed 26,000, the highest since January, as companies shift focus to funding AI initiatives and adjust after overhiring during the pandemic.
In media, publishers continue to cut costs by reducing workforces. Penske Media Corporation, the parent company of Hollywood Reporter and Variety, has laid off several staff members over the past few weeks, though the company has not disclosed specific details. In 2024, major media entities, including Gannett, TIME, and Axios have implemented significant layoffs as ongoing financial challenges persist.
Misinformation Plays Central Role in 2024 Campaign
Misinformation is defining the 2024 U.S. elections. From fake social media accounts, to the amplification of misleading election claims, voters must contend with endless efforts to influence them. Tools like the News Literacy Project’s Misinformation Dashboard helps voters identify misleading content, encouraging individuals to rely on trusted sources and engage directly with local election offices to verify information.
While more are relying on AI, a recent AP survey reveals that most Americans do not trust AI-powered tools like chatbots for election information, with around two-thirds expressing skepticism about their reliability. Survey data from four countries show understanding algorithms increases vigilance about misinformation, but knowledge is unevenly distributed.
Sequence Summaries: Ad Antitrust, Corporate Cuts, and Misleading Messages
Tweet
Sequence Summaries is a weekly series summarizing the top news and takeaways in PR and strategic communications. Sign-up for direct delivery to your inbox.