COVID-19 Advertising Trends

Part
01
of six
Part
01

COVID-19: Advertising Spend Trends, Part 1

The COVID-19 pandemic is one of the greatest health and socioeconomic crises of modern times. National governments across the globe have encouraged or mandated their citizens to stay at home and avoid nonessential journeys, which is having a demonstrable impact on how advertisers reach consumers, necessitating a response. Some examples of how advertisers have adapted are provided below.


BUDGETARY IMPACT

  • In a recent survey of almost 400 media buyers and brands, 74% believe the coronavirus pandemic will have a more detrimental impact on their advertising spend than the 2008 global financial crisis.
  • The same survey found that almost 25% of respondents have paused all advertising for the first and second quarter of 2020, while another 46% have adjusted or plan to adjust spending during the first two quarters of this year.
  • 20% of advertising buyers expect to decrease their spending when compared to their original yearly plan and 73% believe their budgeting for 2020 and 2021 will be affected by the COVID-19 crisis.
  • However, 67% of those surveyed state that they have not yet made advertising spend changes for the second half of 2020 as a result of COVID-19 while 25% said they do plan to make changes at all.
  • In terms of key indicators for managing marketing spend, 65% reported they're monitoring the COVID-19 quarantine status, 62% examining shelter-in-place orders, and 49% are focused on the COVID-19 patient statistics.
  • One of the most stunning examples of change in advertising spend has been from global marketplace giant Amazon. The company has reduced its spending via Google Ads to 'almost nothing' in mid-March after a gradual decrease from January. This, however, is not due to budgetary pressures but rather a lack of need. As more people self-isolate they are turning to Amazon to deliver much-needed goods, as a consequence Amazon may feel that its sales figures are demonstrating that advertising is a superfluous cost in the current climate.

TACTICAL CHANNEL SHIFTS

  • Whilst many are projecting reduced advertising spend, digital advertising is expected to fare better than other mediums, with protections for Q2 2020 down just 33% compared to the 39% decline for traditional media.
  • Traditional out-of-home advertising is expected to take the biggest casualty of advertising spend, with an estimated spend decline of 51% for March and April and a decline of 41% for May and June. The rationale behind steps contributing to this trend is that far fewer people will be outside to see billboards and digital displays while they’re at home in government-advised isolation.
  • 38% of media buyers plan to increase audience-targeting while 35% plan to increase device targeting for over-the-top media and connected TVs. This is explained by Interactive Advertising Bureau (IAB) President David Cohen as being due to the expectation that with reduced commuting, increased working from home practices, and self-isolation, media consumption, in general, will grow.
  • In the United States, there has been a 29% increase in social media marketing activity since mid-February and 25% in gaming advertising. This likely reflects the distractions people social distancing at home are resorting to in their free time.
  • The surge in television advertising is best exemplified by the car industry in the United States. Toyota, General Motors and Hyundai all unveiled new TV adverts in March 2020 which pivoted their marketing message to be coronavirus-centered.
Part
02
of six
Part
02

COVID-19: Advertising Spend Trends, Part 2

COVID-19's impact is still not well understood among advertisers, with different predictions from the leading advertising companies. However, the situation in the US has led many advertising firms to retract their initial forecasts and focus on short term strategies.

Slashing Spending Forecasts, Inconclusiveness & Focusing on Short Term Investment

  • Brands are focusing their advertising efforts on the short term. This is primarily driven by the uncertainty related to COVID-19, the quarantine duration, and its future impact on industries and their advertising spend.
  • Advertising giant, Omnicom remains uncertain about the impact of COVID-19. Since their last forecast, in December 2019, the company "reported cash and cash equivalents and short-term investments of $4.3 billion."
  • Magna anticipates a 2.8% decline in the United States, attributing the buffer to the likely political spend in advertising this year.
  • Leading advertising firms are revisiting their advertising spends. Zenith Group, for example, had initially forecasted a 4.3% decrease in ad spend.
  • IPG also maintained a similar tone, with their Chairman and CEO saying that "in the current environment, visibility into marketing and media spend is extremely challenging".
  • Some advertisers are planning to reserve more spending for the second half of 2020. 67% have "not yet made changes" for the third and fourth quarter while 25% plan on making changes.

Online Ad & TV Ad & Creative Campaigns

  • There is still mixed opinions about online ad spend. According to one source, COVID-19 has caused a decrease in Google Ad spend because Google search impressions have changed since the outbreak. This means that advertisers will most likely not see a positive return on investment, with pay-per-click becoming expensive.
  • Another source states that e-commerce increased their ad spend in the short term, on account of consumers gravitating towards online shopping of essential items during quarantine.
  • For travel, retail and hospitality, there have been cut backs on media buys due to the decline in customer spending habits on non-essential items, and the dramatic decline in the travel and hospitality industries operations and revenue.
  • Amazon is pulling back budgets on Google Ads, while wholesalers and liquidators experience "a 14% increase in CPC but a 9% increase in conversion rates."
  • According to eMarketer, however, e-commerce ad spend doubled from February 17 to March 9 (from $4.8 million to $9.6 million). This is not expected to last, as eMarketer predicts that this was only a short-term spike.
  • Some TV advertising professionals foresee an increase in TV ad spend due to the upcoming elections. An increase in on-demand media is a key driver for why advertisers remain optimistic about online and TV media.

Purpose-Driven Marketing Message Shift

  • Some companies are simply changing their messaging approach, with advertisers being more cautious than ever. "More marketers also plan to switch to purpose-driven marketing, with 42% planning to increase their mission-based marking and 41% increasing cause-related marketing."
  • General Mills has increased their marketing spend as they experience a surge in demand for their familiar products. They seek to keep their marketing as normal as possible, ensuring that their "messages are appropriate for the time." Instead of focusing on budget, they have decided to focus on their communications.
  • These marketing message shifts include a focus on devices. 38% of advertisers "plan to increase audience-targeting while 35% plan to increase device targeting for over-the-top media and connected TVs."
  • IAB revealed that 63% of advertisers "plan to change their messaging strategy." An example of this is IKEA Spain. The company launched a "stay at home campaign", suggesting that people rearrange their furniture. This is a reflection of the short term nature of approaching advertising within campaigns to resonate with what customers are going through.

Research Strategy

The information above details the projected advertising spending for the upcoming months. It is important to note that the majority of the leading advertising firms are uncertain about their projections, which is the reason for the fluctuation in the advertising budgets. As such, it was not possible to outline the amount spent per channel, as numbers will only be disclosed after the second quarter. Moreover, it appears that marketers have been focusing on tailoring their messaging to audiences instead of pulling ads.
Part
03
of six
Part
03

COVID-19 Advertising Spend: Apple, McDonald's, American Express

Apple Inc. might have switched its "marketing budget to digital marketing and streamed events rather than hosting large events," according to Tweak Marketing. However, the authoritative industry publication does not provide evidence to this effect.

Apple Inc.

  • The smartphone-maker canceled its long-awaited event, planned for late March, in response to the deadly coronavirus. "This event was a big part of their marketing strategy, originally planned to unveil two different products."
  • Tweak Marketing, an authoritative industry publication, claims, without providing evidence, that major brands like Apple "have indicated profit warning and are already switching marketing budgets to digital marketing and streamed events rather than hosting large events."
  • Apple announced that it had made cuts to its sales forecasts for 2020 due to a halt in production caused by the COVID-19 outbreak in China.
  • Apple analyst Ming-Chi Kuo estimates that this halt in production will decrease iPhone shipments through Q1 by about 10%.
  • The firm has partnered with Ad Council and the US government to design messaging that will help communicate life-saving messages to help combat the spread of COVID-19.

McDonald's Corporation

  • McDonald's has adopted a 'to go' strategy in favor of social distancing, allowing it to promote its menu through its app, enticing customers to place their orders with exclusive discounts.
  • The fast-food giant recently canceled its biennial franchise convention in Orlando due to the coronavirus outbreak, which will enable it to save about $25 million to $30 million in costs for planning.
  • McDonald's recently closed all company-owned seating areas and PlayPlaces across the U.S. indefinitely in response to the novel coronavirus pandemic.
  • The brand is also running a new video campaign to promote its drive-thru and delivery options, reminding consumers that their homes are now McDonald’s locations.

American Express

  • Amerian Express is waiving credit card interest and late payment fees for both its business and personal cardholders affected by the coronavirus pandemic.
  • Since the coronavirus outbreak, American Express's year to date shares has lost 30.5% compared with the industry’s decline of 22.5%.
  • The CEO, Stephen J. Squeri, revealed that "travel-and-entertainment spending on AmEx cards has fallen sharply in recent weeks, though they didn’t give numbers."
  • Amex also announced that it had made cuts to its sales forecasts and was not in a position to "forecast its future financial results beyond the first quarter" due to the uncertainties surrounding the coronavirus pandemic.

Research Strategy

The research team's first strategy to identify changes the three companies might be making around their advertising spend/allocation in response to coronavirus started by exploring their investor relations reports, including the Q1 earnings reports, impact reports, press releases, and so on. Next, we examined several credible news articles published by industry or general media publications, interviews with senior leadership, company statements, and the like, with information on Apple, McDonald's, and American Express. However, we found that these brands are yet to disclose their advertising allotments in response to the novel coronavirus. The available data on the companies circle the measures taken to combat the pandemic, such as canceling events, the impacts on their sales volume and revenues. Therefore, in the absence of direct data describing the advertising spend/allocations made in marketing, we provided activities that might eventually impact the marketing expenditures of the firms as a result of coronavirus.
Part
04
of six
Part
04

COVID-19 Advertising Spend: State Farm, HBO, Netflix

Netflix, State Farm and HBO have all made shifts to their advertising budgets and strategies due to the Coronavirus outbreak.

State Farm

  • No statements or articles directly addressing a shift in the advertising budget or allocation were found for State Farm. However, it was ascertained that State Farm has launched a new video campaign, "New Normal" and has begun focusing on goodwill and charity actions taken by the company in response to the Coronavirus outbreak. Additionally, it is possible that State Farm will have to shift some of their advertising budget away from events that have now been canceled due to the Coronavirus, like the 2020 Olympics.
  • State Farm began running a new video campaign titled the "New Normal" which was released on March 27, 2020. The video features families at home and urges customers to contact their State Farm agent if they need assistance due to the Coronavirus, because State Farm is there "to help make this “new” normal, feel just a little more…normal."
  • State Farm has shifted their marketing to feature goodwill and charitable actions taken by State Farm in response to the Coronavirus, including a partnership between State Farm and Time magazine with the slogan "Apart. Not Alone," State Farm partnering with the Atlanta Hawks and Goodr to address food insecurity in Atlanta during the Coronavirus outbreak, and State Farm matching donations up to $100,000 in partnership with The Tonight Show to support the American Red Cross during the virus outbreak.
  • There is evidence that State Farm may have to shift some advertising due to large events being canceled. For example, State Farm has partnered with the new streaming service Peacock and as part of this partnership there was supposed to be advertising at the 2020 Tokyo Olympics, which have now been postponed. Additionally, State Farm has had major TV advertising scheduled during the 2020 NBA season, however, the new NBA season was suspended. In response, State Farm, ESPN and the NBA are now showing older reruns of games during ESPN’s NBA Wednesday Nights, at least through the end of April.

HBO

  • HBO has increased their social ad spending and volume due to the Coronavirus. They state: "HBO Now has also stepped up its social ad game, and BrandTotal detected ad volume increases from March 11 to March 19. The streaming service is promoting its new content, such as the launch of the third season of “Westworld” and fan favorites like “Game of Thrones.” HBO Now has seen up to 40 percent day-over-day increases in ad impressions on YouTube, up to 20 percent on Twitter, up to 10 percent on Facebook and up to 5 percent on Instagram."
  • The HBO experiential advertising event a recreation of Sweetwater, the world where the HBO show "Westworld" takes place, at South by Southwest was canceled, when the event being canceled due to the Coronavirus.
  • Lastly, HBO has reported increased viewership on their streaming services, which had increased the amount of ad space that is available and eventually will therefore increase advertising revenue if the service can fill those slots.

Netflix

  • In early March, Netflix increased their ad spend. Combined with Amazon Prime and Hulu, the ad spend for these streaming services increased by 155% in the first week of March 2020.
  • Netflix had to suspend all production on new scripted series for two weeks in early March, and may extend the suspension. If these shows cannot be produced, they will not need to be advertised and therefore may cause a shift or decrease in Netflix's advertising spending.
  • Netflix had to cancel its marketing at South by Southwest due to fears of the Coronavirus.

Research Strategy

In order to identify if advertising budgets or allocations have shifted at each of the selected companies, the research team first completed a news and press release search using PRNewswire and company sites. Next, we looked for statements made on social media by advertising executives and leadership from each company. Then, we looked for advertising that was scheduled to be in conjunction with big events that have now been canceled, like the Olympics and South by Southwest. Lastly, we reviewed each companies LinkedIn pages to see if they had recently posted new job openings indicating that new advertising strategy was underway.
Part
05
of six
Part
05

COVID-19 Advertising Spend: Geico, Amazon

For Amazon, we identified two changes the company has made in its advertising budget during COVID-19 and we found three articles addressing those changes. For GEICO, we were only able to find one change the company has made in its ad spend/allocation in response to COVID-19 and we found five articles addressing that change. The two changes we identified for Amazon and the one change we identified for GEICO were the only changes we found through publicly available sources discussing changes the companies have made in their advertising budgets due to COVID-19.

GEICO

Article 1

  • This link is to an article about changes GEICO has made involving its ad spend/allocation, in response to COVID-19.
  • The article was published by AdAge on March 16, 2020.
  • The article discusses how GEICO removed its "Perfect High Five" TV spot, which received a lot of criticism on social media as the co-workers featured in the commercial were high-fiving, something currently frowned upon in light of social distancing practices. According to "[a] spokesperson at The Martin Agency[,] . . . the ad was pulled" on March 12, but according to iSpot.tv, March 15 was the last day the commercial aired.
  • This link is to the TV commercial that was pulled by GEICO.

Article 2

  • This link is to a publication that mentions how GEICO has responded via its ad spend/allocation due to COVID-19.
  • The publication is a 19-page PDF from Ogilvy titled "What does coronavirus mean for brands on social media?"
  • The section of the publication about GEICO discusses the importance for brands to be sensitive with their messaging during the COVID-19 pandemic. GEICO's "Perfect High Five" commercial was identified in the publication as an example of non-sensitive messaging.

Article 3

  • This link is to an article stating a change GEICO made in its ad spend/allocation, in light of COVID-19.
  • The article was published by Kantar on March 18, 2020.
  • The article mentions that the aforementioned commercial was removed by GEICO, but no further information is provided about it, as other topics are also addressed in the article.

Article 4

  • This link is to an article that mentions a change GEICO implemented with regard to its ad spend/allocation, as a result of COVID-19.
  • The article was published by Fast Company on March 25, 2020.
  • The article mentions that GEICO removed the aforementioned commercial after it received backlash due to the society-wide push for people to adhere to social distancing practices.

Article 5

  • This link is to an article in which GEICO is mentioned, as it relates to the company's ad spend/allocation in light of COVID-19.
  • The article was published by the Wall Street Journal on March 23, 2020.
  • The article identifies GEICO's "Perfect High Five" ad as one that was "meant to be clever", but due to COVID-19, was out-of-sync with societal messaging (social distancing).

Amazon

Article 1

  • This link is to an article that discusses changes Amazon has made with its ad spend/allocation, in response to COVID-19.
  • The article was published by Tinuiti on March 17, 2020.
  • The article discusses how Amazon has almost entirety eliminated its text ads and Google Shopping ads within the United States due to COVID-19.

Article 2

  • This link is to an article about changes Amazon implemented in terms of spending on advertisements, as a result of COVID-19.
  • The article was published by Search Engine Journal on March 18, 2020.
  • The article mentions that Amazon almost entirely eliminated its advertising overall, including its "spending on Google Ads" and "text ads after March 11."

Article 3

  • This link is to an article that discusses how Amazon has changed its ad spend/allocation due to COVID-19.
  • The article was published by The Motley Fool on March 18, 2020.
  • The article states that March 11, 2020, was the date on which Amazon began to significantly scale back its ad spend, as a result of the pandemic.

Research Strategy

We looked for any changes that GEICO and Amazon have made with regard to their ad spend/allocation due to COVID-19 by conducting a wide-ranging press scan, reviewing the companies' press releases/blogs, and reviewing the companies' social media channels. Through our many searches, the changes outlined above are the only such ones we found for the companies.
Part
06
of six
Part
06

COVID-19 Advertising Spend: Coca-Cola, Paramount Pictures

The Coca-Cola Company has suspended most of its marketing activities to redirect some of its advertisement budget on efforts toward fighting the COVID-19. While there was a lack of information on Paramount Pictures' advertising budget during the coronavirus pandemic, there was sufficient information on how ViacomCBS, which owns Paramount Pictures, is changing its advertising budget in response to COVID-19.

The Coca-Cola Company

Coca Cola channels SG$4.2m ad budget towards COVID-19 measures in Philippines

  • Link to the article.
  • The Coca-Cola Company is stopping all of its "commercial advertising" in the Philippines in order to spend "its advertising space and budgets towards supporting COVID-19 relief" by providing SG$4.2 million (US$2,949,231) worth of protective equipment, beverage for health professionals, food packets to families, and financial support to small businesses.

Coke goes big with COVID social distancing in Times Square

Coca-Cola GB suspends all marketing activity

  • Link to the press release.
  • The Coca-Cola Company is temporarily suspending its marketing in Great Britain because of the "economic uncertainty" the coronavirus pandemic has created.

How The Coca-Cola Company is Responding to the Coronavirus Outbreak

Global brands change advertising to encourage social distancing in response to COVID-19

Paramount Pictures

Viacom and Ad Council Debut #AloneTogether, a Social Campaign About Social Distancing

ViacomCBS, NBC cancel 'upfront' ad sales presentations

  • Link to the article.
  • ViacomCBS said it is canceling its live "presentations, where advertisers preview upcoming TV shows," and instead will reveal "new prime time shows" online in order to keep everyone safe amid the COVID-19 outbreak.

Melania Trump to Appear in Coronavirus Public Service Ads

  • Link to the article.
  • ViacomCBS is turning over its air time across its network to feature commercials from the White House that details how to stay healthy amid the COVID-19 outbreak.

Research Strategy

After extensive research from company reports and articles from news publications, such as Bloomberg, New York Times, NBC, Reuters, PR Week, CNN, and The Washington Post, we were unable to find how Paramount Pictures is changing the way it spends its advertising budget during the COVID-19 outbreak. All the news that we found regarding Paramount Pictures mainly discussed how the film studio is postponing the release of its movies. When we still couldn't find information about Paramount Pictures' advertising budget in response to the COVID-19, we decided to pursue a creative research strategy that involved researching whether ViacomCBS, which owns Paramount Pictures, is making any changes to the way it's spending its advertising budget. We were successful in finding the required information for ViacomCBS and have included the responses to the research.
Sources
Sources

From Part 01
Quotes
  • "According to a new survey of nearly 400 media buyers and brands, 74% think the coronavirus pandemic will have a larger impact on their advertising spend than the 2008 financial crisis. The research, conducted by the Interactive Advertising Bureau, found that nearly a quarter of all respondents have paused all advertising for the first and second quarter, while another 46% have adjusted or plan to adjust spending during the first half of this year. "
  • "Digital advertising is expected to fair better than other mediums, with protections for March through June down just 33% compared to the 39% decline for traditional media. Traditional out-of-home advertising is expected to take the biggest hit, with an estimated ad spend decline of 51% for March and April and a decline of 41% for May and June. That makes sense considering far fewer people are outside to see billboards and digital displays while they’re at home in self-isolation across the country."
  • "Even with the pauses and shifts, some marketers are instead adjusting their messaging to address the current crisis. According to the IAB, 63% plan to change their messaging strategy as a result of the coronavirus while another 17% still have not yet decided. More marketers also plan to switch to purpose-driven marketing, with 42% planning to increase their mission-based marking and 41% increasing cause-related marketing."
  • "Tactical changes are happening, too. The survey found that 38% plan to increase audience-targeting while 35% plan to increase device targeting for over-the-top media and connected TVs."
  • "“With this commute from home and work from home, media consumption in general is going to grow,” Cohen said. The crisis is likely to also hit the upcoming annual Upfronts in late April and May, when media companies court advertisers for shows on the major networks and streaming services. According to the IAB, 73% of buyers said COVID-19 will impact their upfront plans for 2020 and 2021 while 20% expect to decrease their upfront spend versus their original plan. "
  • "Despite the bleak outlook for the next few months, some say they plan to spend more in the second half of the year. However, 67% said they have not yet made ad spend changes for Q3 and Q4 as a result of COVID-19 while 25% said they do plan to make changes."
  • "While 65% said they’re watching the ongoing quarantine status, 62% are keeping an eye on shelter-in-place initiatives, and 49% are focused on the number of coronavirus cases. Rounding out the top five were business openings and closings (47%) and the performance of the stock market (44%)."
Quotes
  • "Gaming: a 25% jump with COVID-19 Gaming is a growth industry when the world hits pause on work and social interactions. We’re seeing a steady increase since the middle of February, with a 25% jump in the second week of March from the low point."
  • "Social media: 29% increase When the only way you can be social is via digital media, app installs for social platforms go up. After a moderate post-Christmas decrease, we’ve seen a steady rise in social media marketing activity for the last four weeks straight."
  • "Travel marketing: down 38% so far It’s not surprising that the travel industry is hurting. The US and Canada closed the largest undefended land border in the world on March 18 to all but essential services and transport. Most countries have followed suit, or had already set up travel bans. Even Europe’s famously borderless nations are reinstituting border checks and closures."
  • "News, on the other hand, is way up. In fact, spending by news and information companies jumped over 11X from early January to the second week of March. People don’t just want to know what’s going on with COVID-19 or Coronavirus … they need to know. And news organizations are capitalizing on that opportunity."
Quotes
  • "Hyundai Motor America, Toyota and General Motors have joined Ford Motor Co. in altering creative in response to the COVID-19 pandemic."
  • "Hyundai Motor America announced it was reinstating its Hyundai Assurance plan earlier this week. The automaker has altered creative to detail the program. A new 30-second spot from Innocean broke today and is running in place of all other TV ads until further notice."
  • "Toyota launched a new spot from Saatchi."
  • "A 30-second spot for Cadillac from Leo Burnett details the procedures the automaker has put into place. It ends with the tagline: “At Cadillac, we have your back.”"
Quotes
  • "Amid the COVID-19 outbreak, Amazon (NASDAQ:AMZN) has been scaling back the number of advertisements it runs on Alphabet's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, which could be a huge blow for the Internet search giant. Tinuiti, a marketing agency that is in control of roughly $1.5 billion in annual spending for several advertisers told Bloomberg that Amazon's Google ad spend has been cut back dramatically since March 11. Tinuiti's director of research Andy Taylor said Amazon has "significantly" reduced its Google Shopping and text advertisements. "
  • "Amazon may not need the increased business given its already dealing with a huge surge in demand as people seek everyday items that have disappeared off store shelves amid panic stockpiling. In response, Amazon is prioritizing orders for household items and medical supplies. The eCommerce giant is also hiring 100,000 additional employees to meet the demand."
From Part 02
Quotes
  • "While e-commerce sites are boosting their online ad spending in the short term, the negative economic repercussions of the coronavirus are expected to dampen media spending worldwide."
  • "Fifty-eight percent of people ages 18 to 39 said they had ordered grocery items online for store pickup"
Quotes
  • "Large retailers, including Amazon, are pulling back their budgets on Google Ads and consequently, a 9% decrease in CPC on Google have evened out most retailer’s ROAS."
  • ""a 14% increase in CPCs but a 9% increase in conversion rates.""
Quotes
  • "As of December 31, 2019, Omnicom reported cash and cash equivalents and short-term investments of $4.3 billion."
  • "it cannot "at this time predict the impact of COVID-19 on our operations and liquidity, and depending on the magnitude and duration of the COVID-19 pandemic, such impact may be material." The company said an update will be provided during its first-quarter earnings call. "
Quotes
  • "Home entertainment and e-commerce have the potential to be two bright spots in the marketplace."
Quotes
  • "The New York Times isn’t alone. Zenith, an ad-buying firm within the Publicis Groupe, is revising its global ad spend forecasts, according to The Wall Street Journal. "
  • "Zenith originally anticipated global ad spend to be up 4.3% this year. The firm hasn’t released any new numbers but confirmed it would be lowering its ad spend forecasts in the coming weeks."
  • "Spend is displaced, but annual growth will be largely unaffected"
  • "Spend is reallocated significantly with brands focusing on the short-term"
Quotes
  • "Spending time at home means there are more opportunities for people to see advertising. “Brands are shifting towards screens, which makes sense. Phones will be on no matter what, TV viewership is already higher than normal as people are indoors more,”"
  • "Travel, hospitality and retail are all industries that have understandably cut their media buy"
  • "“We are ready to go with … animation, illustration, CGI (computer-generated images), VFX (visual effects), motion graphics, compositing, stock footage, user-generated footage and more,” wrote Will Lion"
  • "“I’m still the place where your children have grown up,”"
Quotes
  • "According to the IAB, 63% plan to change their messaging strategy as a result of the coronavirus while another 17% still have not yet decided. "
  • "More marketers also plan to switch to purpose-driven marketing, with 42% planning to increase their mission-based marking and 41% increasing cause-related marketing."
  • "The survey found that 38% plan to increase audience-targeting while 35% plan to increase device targeting for over-the-top media and connected TVs."
  • "some say they plan to spend more in the second half of the year. However, 67% said they have not yet made ad spend changes for Q3 and Q4 as a result of COVID-19 while 25% said they do plan to make changes."
Quotes
  • "the consensus from TV ad-sales professionals Adweek contacted was a combination of optimism—fueled by a belief that a ratings increase between the 2020 elections and coronavirus coverage should translate to an increase in ad revenue—and “it’s too early to tell.”"
Quotes
  • "MAGNA EXPECTS U.S. AD SPENDING TO DECLINE 2.8% THIS YEAR, BUFFERED PARTLY BY POLITICAL-AD BUYS; POSSIBLE ECONOMIC REBOUND IN SECOND HALF "
From Part 03
From Part 04