Advertising news today: YouTube’s European woes, Oculus cofounder leaves

Susan
Wojcicki (C), chief executive officer of YouTube, talks with Bill
Koenigsberg (L), founder and chief executive of Horizon Media, as
they arrive at the Sun Valley Resort for the annual Allen &
Company Sun Valley Conference, July 10, 2018 in Sun Valley,
Idaho.
Drew Angerer/Getty
Images

Google’s business prospects in Europe seem to grow bleaker all
the time.

The company faces multiple probes, fines, and new rules that
could raise costs and slice into revenue.
On Monday, Susan Wojcicki, CEO of YouTube, appealed for help from
the people who post clips to the web’s top video-sharing site.

In a blog post to YouTube’s creators, Wojcicki wrote that a new
piece of legislation in Europe threatens to “shut down the
ability of millions of people … to upload content to platforms
like YouTube,” and is “a threat to both your livelihood and your
ability to share your voice with the world … tell the world
through social media and your channel why the creator economy is
important and how this legislation will impact you.”

Click here to read more about Wojcicki’s
letter to YouTube creators.

In other news:

A second Oculus cofounder is leaving Facebook after
reportedly clashing with management. Oculus
cofounder and former CEO Brendan Iribe announced on Monday that
he would be leaving Facebook.

Netflix and YouTube combine for over 70% of the time
teens spend watching video, as cable TV slumps.
According to a survey by Piper Jaffray, cable TV has seen a stark
decline since 2015, almost being cut in half in terms of time
spent by teens.

‘If you’re open on Thanksgiving, it’s hard not to pitch
yourself as a greedy bastard’: REI’s CEO reveals why closing on
Black Friday is a smart business move. CEO Jerry
Stritzke told Business Insider that closing on Black Friday is
the right ethical decision and a smart business move, even as
competitors open earlier.

Toys R Us’ demise is having a devastating effect on
America’s largest toy companies. Hasbro and Mattel
are finding it hard to cope in a world without Toys R Us.

New York City’s first Amazon Go cashierless store will
open near the World Trade Center, reports Recode.
Amazon’s version of a futuristic 7-Eleven store is coming to New
York City.