Posted on 05/12/2020 8:56:03 AM PDT by abb
Big advertisers from General Motors Co. to PepsiCo Inc. to General Mills Inc. are seeking to walk back spending commitments they made to broadcast and cable networks, a dynamic that is testing the industry’s five-decade-old way of doing business.
TV ad spending fell in the initial weeks of the coronavirus pandemic, but was insulated from an even bigger drop. That is because the majority of the roughly $42 billion spent on national TV ads in the U.S. is bound by contractual commitments that are made well in advance of a new TV season, which starts each September.
Under those “upfront” deals, the first real opportunity since the pandemic struck for advertisers to cut back future spending commitments began May 1. Companies now have the option to cancel up to 50% of their third-quarter ad spending.
Many companies are seeking to take advantage of that option to varying degrees, including General Motors, PepsiCo, Cracker Barrel Old Country Stores Inc., General Mills, Domino’s Pizza Inc. and pharmaceutical giant Sanofi SA, according to people familiar with the discussions.
Ad buyers estimate that roughly $1 billion to $1.5 billion in commitments for third-quarter ad spending could be canceled. “The cuts are going to be pretty deep,” said Dave Campanelli, chief investment officer at media buyer Horizon Media.
(Excerpt) Read more at wsj.com ...
You forgot one, My Pillow.
I think they have a Zillion Dollar Advertising Budget and they spend half of it with Fox News.
Thanks.
They barely advertise up here in N. California. They do drop of flyers with discounts.
Yeah, it was kinda a rant,
my wife and have studied various forms of marketing and linguistics, and ads always drives me nuts, watching the subliminal manipulation, and “button pushing”. It’s a personal thing (back into my hole)
That is amazing. I guess Meet the (de)Pressed exists just to give the MSM talking points for the next day. I have read that HGTV draws a larger audience than CNN. I guess HGTV gets a lot of their audience from medical waiting rooms (I see it on all the time) the way CNN gets a lot of eyes at airports.
I’m pretty much ok with that
movie theaters and traditional broadcast networks dying before the virus. I watched SNL and Some comedy show on NBC and they both sucked more than usual.
If direct offered be a cafeteria packet, NBC, CBS, ABC, CNN MSNBC and Fox Entertainment would not be included.
hey networks are putting themselves out of cuisine’s in broadcast format. Now NBC will open The Peacock streaming service. CBS is already there.
Well, their correspondents have been pushing continued lockdown/shutdown. Hows it feel?
my wife is a RE broker and she is a designer and always decorating. HGTV is her favorite network
Very obvious what the media is dooing. The wimpy men can’t get him to screw up.
Would she had ask 0bama the same question?
See posts #20 and 54. They refer to Chick-fil-A (remember them?), not Commies.
I met him outside a donut shop decades ago, when I was a teenager working for minimum wage and he was a big star.
He treated me like I was his equal.
I still value that, and am an even bigger fan of his than I was before I met him.
All I see are re-runs of re-runs of re-runs.
The re-runs of the game shows were good for a while but
even those are getting old.
Voyage to the bottom of the sea is another waste of electricity.
That have nothing to offer. Paid program RE-RUNS...no thanks
Because leftists are in most of the responsible positions at those companies too, especially advertising. Fake financial numbers don’t just exist in government. Gone are the days where companies try to get the most customers they can. As long as they can show profits that are just good enough, that’s all the bean counters need.
Kids don’t watch TV. They consume entertainment on their phones and computers. We’re about to see as big a shift in entertainment content delivery as radio to TV was.
Who watches tv???
“...Nothing on...”
All the production stopped two months ago. One show that made it to an other season and hasn’t aired yet is on the CW. Not the greatest but squeaked in before the corona stoppage, The 100 season 7 is done, 16 episodes I hear. May 20th s07e01.
There will be many months now of stale (even garbage before stale) programming.
Dems have always been experts at creating unintended consequences.
I’ve noticed that as we now have no live sports - almost nothing on TV is worth watching.
I can get more news information that I care to digest online. Most new shows are garbage. Comedies aren’t funny. Everything is ‘progressive’. I’m left with cooking shows and movie reruns.
The purpose of TV is to program you.
It is your head that is getting pounded on the table with their shoe.
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