What you need to know in advertising today

Evan Spiegel, Snap cofounder and CEO, speaks at the 2018 Code conference

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Evan Spiegel, Snap cofounder and CEO, speaks at the 2018 Code conference
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Greg Sandoval/Business Insider

Until a few years ago, brands had to shell out anywhere between $500,000 to $750,000 for an augmented reality lens on Snapchat.

Now, they can pay teenagers to make them them for a fraction of the price.

That’s because instead of having to directly work with Snapchat – or getting their agencies to design AR lenses -brands such as Warner Bros Records, Deezer and Plato, have started enlisting teens to create these animated, computer-generated visuals.

To read more about how brands are paying teens to make AR lenses, click here.

In related news:

Snapchat and other popular apps with maps were vandalized to label New York City as ‘Jewtropolis.’ The cause was vandalism of the mapping software from Mapbox, a third-party company that supplies mapping information to Snapchat, StreetEasy, and Citi Bike.

Snap has tapped the Time Warner (now WarnerMedia) veteran Kristen O’Hara to become its vice president of U.S. global business solutions, the Wall Street Journal reported. She was most-recently WarnerMedia’s chief marketing officer for global media.

In other news:

Coca-Cola just became a giant threat to Starbucks after buying one of Europe’s biggest coffee chains for $5.1 billion. Coca-Cola is using the deal to expand into the coffee market, where it has no presence.

A gold mine is buried ‘under the weeds’ at Amazon – here’s why it could take the company beyond the $1 trillion mark. Daniel Morgan, a portfolio manager at Synovus Trust said that Amazon has an advertising business that few are paying attention to that has the potential to rival Google and Facebook.

Inside the Facebook employee group at war with the company’s ‘intolerant’ liberal culture. Conservative employees are up in arms against what they argue is bias against conservatives at the tech company.

Apple has officially sent out the press invitations to its iPhone event on September 12. The firm is expected to reveal three new iPhone models to follow up on last year’s iPhone X and iPhone 8.