Santa Monica, CA – Economic uncertainty has prompted some advertisers to tighten their belts and find ways to get the most from their media dollars. Although there are differences between different industries, marketers are also looking for more flexibility.Thank you for reading this post, don't forget to subscribe!
“At the moment, it is a soft market. “I would say there is a little bit of conservatism in terms of ad spending,” Maureen Bosetti, chief investment officer of the Interpublic Group Initiative, said in this interview with Beat.TV contributor Rob Williams at the Beat Retreat in Santa Monica.
“Some of the categories that are reducing spending, like insurance, retail, technology, some of those big categories, [have] Kept the market somewhat soft,” he said. “Although on the other hand, we have strong categories like pharma. The status of auto has clearly increased in the last few years.
While the automotive industry has worked to recover from the depths of the pandemic, which exacerbated parts shortages and disrupted factory production, the health crisis has dramatized the desire among advertisers to be as flexible as possible in media plans. formally increased.
“Clients want more flexibility, meaning they’re holding dollars for longer periods of time, making sure they’re not overcommitted,” Bosetia said, “and that they can keep their dollars liquid.” Are. “The money should be cut and returned to the bottom line.”
The conservative outlook is likely to impact the advance sales season for linear television, which has seen its audience shrink as families spend more time with streaming video. Cord-cutting continues as consumers connect their televisions directly to the Internet rather than subscribing to cable or satellite service.
“A large portion of that money is going to move to CTV or other digital video platforms, but not all of it will go upfront,” Bosetti said. “Again, people want more flexibility, which means we will still certainly invest in the forward market, but more of it may go into a short-term buying model or want to become a scatter market.”
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