eMarketer: Why TV Ad Spend Will Fall. Sports and Political Ad Spend.
Previous reports called for a 2% increase in TV Ad Spend for 2020. Now, experts are estimating a 22.3% – 29.3% DECLINE in TV Ad Spend first half of 2020.
Political ad spend will be on hold in 2Q20. Candidates don’t want to be seen as being insensitive campaigning during the pandemic.
No Sports Content. Professional leagues have cancelled or suspended season.
Kantar estimated March Madness, the NBA playoffs and the NHL playoffs collectively accounted for about $2 billion in TV ad revenues last year.
NBCUniversal reported advertiser commitments for the 2020 Olympics amounted to about $1.25 billion and Moffett Nathanson Research estimated losses to ESPN, ABC and TNT ~$700 million due to the NBA season cancellation.
The 55+ demo is seeing the most reach during Primetime on the 4 major broadcast networks (NBC, ABC CBS, FOX).
Of these top performing broadcast networks, NBC Primetime is the top performer for the 55+ demo with 35% segment reach in comparison to FOX which only saw 24% reach within the segment.
Of the 4 major broadcast networks, ABC is seeing the largest increases in WoW Average Time Viewed.
In particular, the Late Fringe PM daypart led with a 31% increase and Early Morning (+17%) and Overnight (+15%) followed.
Fox News Daytime is a strong performer among the 55+ demo, ranking top 10 in reach while seeing the second highest Average Time Viewed (115 min) and a 10% increase in WoW viewership.
While Fox News Daytime appears to be increasing in WoW viewership, CNN Daytime should also be monitored as it’s seeing the largest WoW increase in viewership (15%) compared to other cable news networks on any other daypart.
iSpot: Top 20 National Cable Networks by Adults 55+ Viewership
This year, I attended the Money 20/20 conference in Las Vegas. This conference gave “Money Revolutionaries” the opportunity to meet and discuss many challenges, including the following.
The major insight I extracted is how difficult it is to communicate brand appeal in the financial Industry because let’s face it, mortgages, loans and account services apps aren’t as enticing as the material presented in the entertainment or travel industries. Additionally,the industry uses very specific lingo that may not be easy to understand for the common customer. Because of these two obstacles, the concepts involved aren’t typically appealing throughout the digital/social media ecosystem.
But what’s the solution to this? TV advertising, of course! And we have three very clear reasons to believe it.
First and foremost,these “Money Revolutionaries” need to face their traditional competitors within their branding realm with a big brand-awareness push, getting the message out to the massive audience and there’s no other medium that could offer such speed and scale than digital and of course TV.
Secondly, we know that the synergy between DRTV campaigns and download rates is strong without high ad spend. Based upon the likeliness of the target market being a multi-screen user, the call to action response is more viable when the TV ad airs while having a mobile device in hand. These results are also more measurable. Having DRTV and Mobile within the marketing mix is simply a no-brainer.
Third, consumers have been losing the trust in the banking and financial sector throughout the years, and TV has been the king of media in relation to trust, giving these digital products/services the sense of reality.These new technology service providers offer new ways to manage finances, meeting the consumer’s needs and desires and moving away from the tarnished reputations of the “bad banks.” This evolution, or shall we call it FinTech Revolution, should be massively televised to build up trust!
Finally, the “cherry on top” for the FinTech data-rich and data driven industry, is that DRTV campaigns can be measured, analyzed and optimized as the “digital revolution” has brought to the marketing/advertising basics.
So for those Financial brands looking to create momentum, don’t wait anymore and contact us now! We will get your product/service where the high street banks are.
You may be thinking, I don’t have time to read this blog let alone request an independent media audit, I know my media is airing exactly what I approved. Or you may be thinking, I know my media isn’t perfect but is anything perfect? I will tell you in four words why you need an independent media audit– Trust, Financial, Goals and Competition.
1. Trust –
Trust isn’t just in the people who are buying your media whether internal or with an agency, but also with the numbers they are providing to you and ultimately you are providing to your C-Suite.
Ask yourself these questions:
• Are you confident these numbers are accurate?
• How transparent is the media you are purchasing?
You may receive affidavits, but do you have the time and resources to review each one individually to confirm your media was correct and aired correctly? Was a national break reported when instead it was a national break covered up by 80% of the country?
Trust is also about trusting your media buyers to keep current with your competition. Allowing you to cut through the clutter and gain market share on the competition. You may find your competition isn’t even airing on your most successful network and now is the time to dominate the network, before they do.
2. Financial –
Media expenditures are expensive! How can you justify this type of expenditure without an audit? Think of your media audit as important as your company’s financial audit. An audit puts doubt to rest, doubt for you, doubt for your superiors and doubt for the C-Suite. The audit may find some waste but also opportunities to reallocate the waste. Ultimately this will make you look like the hero for finding areas to better use your media dollars
3. Goals –
We understand goals can vary by subsidiary but also by different products or divisions. And with all these variables is your media reaching the correct target(s)? Have you thought about if your media is diverse enough to reach all the demographics needed to achieve not only your media goals but your corporate goals? Do you need to reach not only Millennials but multicultural Millennials? Are you airing on the optimal networks, dayparts and days of the week? After reviewing a media audit, you may find niche demographics you are not yet reaching, and those demographics could exceed your company’s financial goals.
4. Competition –
Your competition is also reading this blog. Don’t you want to schedule your media audit before they do and take away market share from you?
The Modus Direct Free Competitive Television Media Audit includes a 2-year review of your top two competitors. Modus Direct needs your email address, your phone number, your company’s name and your top two competitors and within 5-10 business days we will review our findings with you on a pre-scheduled call. For more information or to sign up for your free report please visit:https://modusdirect.com/competitive-review or contact Jean Rebel at firstname.lastname@example.org or 941-552-6770 x104 for more information.