Highly restrictive legislation on minors’ use of social media has passed both houses of the Florida legislature and will now go to Governor Ron DeSantis. The ban covers any sites that, among other things, track user activity and allow children to upload content and interact with each other, regardless of parental approval. Similar laws have been blocked in the courts on First Amendment grounds, most recently in Ohio.
Reddit, the social media platform and community network, has filed a registration statement with the SEC in preparation for an initial public offering of its Class A common stock. Reddit has been a private company since its founding in 2005 and is one of the top 20 most visited websites in the world. The IPO is likely to boost its standing in the advertising market and the expected injection of capital could help refine its ad products, according to experts.
Around 52% of data planners, strategists and activators involved in programmatic advertising think there will be an industry solution to replace third-party cookies, although there’s little evidence that will happen. The group also tends to underestimate the share of traffic on browsers that already block cookies (it’s 44%). Over a third (the largest group) say they have considered alternatives but found them lacking in scale and accuracy.
It’s deal-making time for generative AI model builders and publishers who can provide them with quality data. Germany publishing giant Axel Springer is trading access to its data for Microsoft adtech, AI, and Azure hosting solutions. Meanwhile, The Financial Times has struck a deal with OpenAI to license its content with attribution of summaries and quotes.