Tuned In PT 2: TV Consumption in Covid Times
As another week goes by in a blur, the TV marketplace continues to throw up new challenges and opportunities in equal measure and on a daily basis.
The current picture
TV viewing continues to be hitting record levels since the satellite era with figures up across the board. That has also translated into VOD platforms and across non-commercial subscription VOD (Amazon Prime, Netflix, Disney +) all showing significant growth. The initial pace of cancellations of TV campaigns is in decline with reports that media owners are starting to feel like the market has bottomed out as far as April is concerned. In fact, all three major sales houses have gone to market with offers of additional value, reductions and cancellations of late booking penalties, non-reconciled over-deliveries and reduced CPTS in an attempt to stimulate some growth.
For those brands that can continue to fulfil consumers’ needs and demands, TV continues to offer a significant opportunity. The ability to demonstrate flexibility and agility in marketing plans is essential in navigating this time of global uncertainty. It’s imperative that they adapt creative messaging and sentiment in line with consumers’ moral compass, react to changes in circumstance as companies furlough staff, and optimise campaigns to continue to deliver maximum ROI or positive brand consideration.
So, if you’re a brand in a position to advertise, what are they the key take-outs to consider?
- TV viewing habits are changing – ensure your media plans recognise these
- Use cutting-edge performance measurement tools to maximise ROI
- Consumers will judge brands on how they react to the crisis
- Extended time off-air will impact on brand awareness and AdStock
Grant Crymble is Managing Partner, UM Birmingham.