YouTube to Enjoy $250 Million Magna Ad Shift from TV

Wall Street Journal: Magna Global, the ad buying arm of Interpublic Group of Cos., has signed an upfront advertising deal with YouTube, shifting spending from television ads in an effort to reach consumers more efficiently. Magna, which buys ad time on behalf of clients such as Johnson & Johnson, Coca-Cola and Fiat Chrysler, is said to have committed to spending at least $250 million between October 2016 and December 2017 on Google Preferred, which offers a premium pool of advertising space on YouTube.