The unprecedented wave of media reviews from five years ago is on the crest of a comeback.
| Remember mediapalooza? Five years ago, the world’s biggest advertisers put tens of billions of media dollars up for grabs for agencies to duke it out over. Now, they’re doing it again. So far this year, 950 advertisers have concluded media reviews worth $10 billion in ad spending, while another 75 are underway that represent $5 billion, according to research firm COMvergence. Corporate cost cuts amid shifting commercial priorities are making advertisers think long and hard about how much they spend on marketing — and therefore their agencies — coming out of the pandemic. Read more below. The unprecedented wave of media reviews from five years ago is on the crest of a comeback. AT&T was building its advertising business around the triumvirate of DirecTV-WarnerMedia-Xandr. Now it is weighing the removal of two of those three pillars. Call it a modest sign that nature is healing in media: The pay cuts that many publications instituted at the start of the pandemic are starting to get rolled back. Advertisers want buyers to tweak plans much more frequently, that means longer hours and a growing drain on buyers. Other things to know about On next week’s The New Normal, NTWRK president Moksha Fitzgibbons will join Digiday editor-in-chief Brian Morrissey to discuss the future of livestream shopping, including how habits are changing due to the pandemic and the evolving role China fills. RSVP here to join us for a live discussion next Friday, September 11 at 12 p.m. ET. Brands and agencies, we want to know: From connected TV to digital out-of-home, how have your investments shifted during the pandemic era? Take this survey for a $5 Starbucks gift card and a link to the full results. Sponsored by Zeta. | | |
|
howdy! howdy! howdy! howdy! | awards | | Shopify, Chewy and Ally are Resilience Awards finalists | | In an era upended by pandemic and recession, companies of all stripes have scrambled to survive, let alone innovate and scale. Nonetheless, some media, marketing, fashion, beauty and retail players have continued to succeed in the face of daunting odds. | | |
howdy! |
