Upfront Brand and Market Planning
You've probably heard some variation on the old joke about the guy whose doctor tells him that his illness is terminal. "Hold on, doc," the man says, "I want a second opinion." The physician replies: "OK, you're ugly, too." In some ways, such a scenario applies to the state of TV advertising spending for the 2009 upfront season: There's bad news and, if you'd like, there's more bad news.The initial bad news, of course, is the recession. Consumers, fearful of losing their jobs (or the 8.5 percent of the populace who's has already lost them), have curtailed their spending dramatically. Then, of course, it gets worse: Brands hurt by that reduced spending decide that they either can't afford to buy as much advertising or, with consumers' wallets frozen shut, wonder if those ads would justify the cost, anyway.
While our latest annual look at ad spending in major consumer categories is full of predictable bad news that follows this trickle-down effect, keep reading. The fact is, while a rosy picture is hard to find, there are glimmers of hope in many segments. While it may be true that Big Pharma has decided to cut much of its ad spending (Americans who've lost their jobs are also, the reasoning goes, losing their health benefits), other categories are -- albeit cautiously -- buying air time.
For example: Though high-tech firms are moving to Webvertising in significant numbers, many consumer electronics brands are sticking with the good-old family TV set, reasoning that items like computers and cell phones have become essential purchases (especially for job hunters) and banner ads simply lack the "wow" factor. Beverage giants are maintaining their ad spending levels, as is the movie category, simply because television's sight, sound and motion qualities still deliver the best approximation of the in-theater experience.
What's more, the recession seems to have had a beneficial effect on some industries, leading to heated competition and, as a result, invigorated ad spend. Uniquely equipped to deliver a full meal for just a few bucks, fast-food chains are faring comparatively well in these recessionary times, with the result that $684 million-plus was spent last year on TV spots.
It'll probably be a while before we see the stratospheric spending levels of, say, 2007. But we'll give it to you straight: The truth is that TV ad spending still has a steady pulse, and the diagnosis isn't fatal.
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