What you need to know in advertising today

FILE PHOTO: The Netflix logo is pictured on a television in this illustration photograph taken in Encinitas, California, U.S., on January 18, 2017. REUTERS/Mike Blake/File Photo

People are abandoning cable TV faster than previously thought, and that's having a negative effect on TV ad spending.

According to eMarketer's latest figures, TV ad spending in 2017 will total $71.65 billion, a year-over-year increase but down from the $72.72 billion predicted earlier.

To read more about the report, click here.

In other news:

Here's everything Apple announced at its big iPhone launch event. Along with three new phones, the tech giant announced its first foray into wireless charging, new facial-recognition technology, and a 4K Apple TV.

Meanwhile, Gmail and other popular Google services experienced a partial service outage at a very bad time. The technical problems started coming into play as many people started preparing to tune into the webcast of Apple's 10th-anniversary iPhone launch event.

Facebook is promising to keep advertisers away from 'fiercely debated social issues.' The company wants to send a message to advertisers that it is taking "brand safety" seriously.

The company has also admitted that some Russian ads during the US election promoted live events. Facebook's admission indicates that alleged meddling ahead of the 2016 election went beyond social media.

Facebook's Houseparty-like video chat app has been spotted in the wild. Bonfire, the company's group video chat app, has sprung up on the Danish iOS App Store, suggesting the social media giant is slowly rolling it out to customers.

Read Yelp's full letter to the FTC accusing Google of violating its deal with the government. Yelp escalated its battle with Google this week, claiming that Google was breaking the terms of a settlement by using images from Yelp in search results.

Restoration Hardware CEO revealed a startling reality about online ad spending. Gary Friedman said that 98% of the company's online business was coming from just 22 keywords.

JPMorgan CEO Jamie Dimon said bitcoin is worse than the most famous asset bubble in history. Dimon said on stage at a Barclays conference that the cryptocurrency is "worse than tulip bulbs."

Work chat service Slack announced several new milestones. The company said it now has over 9 million weekly active users and annual recurring revenue of $200 million (£150 million).

YouTube's biggest star, PewDiePie, has apologized for using the n-word. "I'm just an idiot," the star said in his apology video.

Follow us at @BI_Corporate to be among the first to hear about news and updates from Business Insider.

Also, sign up for the Executive Summary , a new biweekly newsletter that brings the latest marketing news, trends, and company updates straight to your inbox.

Join the conversation about this story »

NOW WATCH: Here's what happens when two hurricanes collide