In today's ExchangeWire news digest: Meta announces a new AI tools for advertisers; Linda Yaccarino replaces Elon Musk as Twitter's CEO; and News Corp reports reduced revenue for Q1 2023.

Meta doubles down on AI with sandbox

As part of its renewed focus on AI, Meta has announced an AI Sandbox for advertisers to help them create new ads. The tech will allow users to use AI to develop alternative copies, background generation through text prompts and image cropping for Facebook or Instagram ads.

The system is offered to a limited number or companies now, and is expected to be expanded in July.

Twitter has a new chief

Former NBC Universal head of advertising, Linda Yaccarino, has been announced as Twitter’s new chief executive. Elon Musk will step away from the role at the company he bought for $44bn (~£35bn) in October. 

Musk had hinted that he wouldn’t be in the role long-term. In Musk’s official announcement he revealed that Yaccarino will focus on business operations, while he turns his attentions to product and new tech.

News Corp revenue takes a hit

News Corp reported slightly lower revenue amid a softening advertising market, despite continued growth at Wall Street Journal parent Dow Jones & Co.

The New York-based media company, which owns the Journal, HarperCollins Publishers and news organisations in the U.K. and Australia, said revenue fell 1.8% to USD$2.45bn (~£1.9bn) for the quarter ended March 31.

New on ExchangeWire

Beeler.Tech’s Rob Beeler on Pulse Premier, The Guardian's Contextual Deal, and UK AI Regulation

RevOps Barometer H1 2023: What the Industry Thinks

The Current Retail Media Landscape

PressBox Digest

PubMatic Launches Activate - Bringing Programmatic Automation to Direct Deals for CTV & Video

Digital Turbine Expands Partnership with Google Cloud to Deliver Frictionless App Install to Developers

Connatix Becomes Google Certified Publishing Partner

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Fact of the Day

74% - the number of publishers claiming they are successfully building diverse revenue streams. 

Source: Colab Consulting

Last week's tech teasers

After Meta threatened to block news content in Canada over Bill C-18, we tested your knowledge on the recent tribulations facing publishers. See how you did below:

• 40% – the amount Google’s alleged “market abuse” reduced revenue for UK publishers ?
• Bloomberg – ceased open-market programmatic advertising in January ❌
• 50% – of advertisers believe legitimate news doesn’t compromise brand safety ☔
• Australia – the country where Facebook suspended news content over publisher payments ?‍♂️
• 7.7% – the forecast drop in global advertising revenue for publishers this year ?

Challenge yourself on ad tech, martech, media, and commerce, by signing up to The Stack, where we publish a new quiz every Friday.