What you need to know in advertising today

Antonio Villas-Boas/Business
Insider

Marketers have long been intrigued by the potential to zap ads at
consumers’ phones with precise targeting based on the stores they
routinely visit.

It’s become a tired ad industry cliche: “Someday, you’ll be
walking by a Starbucks and you’ll get a coupon for your favorite
drink.”

But the hype hasn’t worked out the way that industry veterans
once expected. It’s still safe to walk by Starbucks.

In fact, a number of location-based tech firms have been forced
to rethink their businesses. To read more, click here.

In other news:

‘It’s a signal Verizon is not seriously interested in
major investments’: Insiders say Verizon’s choice of Guru
Gowrappan to run Oath reveals the future of Verizon’s ad
business. Oath president and COO Guru Gowrappan will
assume the role of CEO in October.

Mark Zuckerberg has warned 2 months before the US midterms that
Facebook can’t fight election interference
alone. In a lengthy essay about how Facebook
will protection upcoming elections, Zuckerberg said governments,
journalists, and non-profits could all help.

Spotify’s CMO Seth Farbman is departing the company as
the music streaming company reorganizes its marketing
group. Farbman led the company’s snarky and
data-driven campaigns in recent years, and was also the top
chief marketing officer on Business Insider’s 25 most innovative
CMOs in the world list in 2018.

iHeartMedia has bought Stuff Media for $55 million, the Wall
Street Journal reports. Podcasting is a small
but rapidly expanding slice of the digital advertising pie.