The Brief – Monday 11th May: The Trade Desk earnings; Meta’s court challenge against Ofcom; Substack’s paid subscriptions

💲 The Trade Desk reported 12% year-on-year revenue growth to $689m in Q1, representing a slowdown from the 25% revenue growth it reported in Q1 2025. (The Trade Desk)

🏛️ Meta has launched a court challenge against Ofcom over how fees and penalties under the Online Safety Act are calculated. The act allows Ofcom to fine tech giants up to 10% of their global turnover. Meta is arguing that using worldwide revenue, rather than UK revenue, to determine potential fines for failure to comply with the law is disproportionate and unlawful. (Reuters)

👤 Teads has hired Jit Shergill, formerly TikTok’s group agency partnerships lead, as its new head of sales in the UK. (Teads)

💻 Paid subscriptions to UK-based publishers and creators on Substack have reportedly surpassed half a million. Globally, Substack readers are paying for more than 5m subscriptions to publishers across the platform, though this is concentrated mostly among the most popular accounts. (The Hollywood Reporter)