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Good Monday afternoon. Today we’re talkin’ upfronts, we’re talkin’ TikTok, we’re talkin’ to Ryan about why the image for his Cinnamon Toast Crunch shrimp story had to be so nauseating…but enough talking, let’s get reading.
In today’s edition:
- What sticks from last year’s upfronts
- TikTok oozes into social at large
- Bad lawyer jokes
— Phoebe Bain and Ryan Barwick
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Morning Brew
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Nobody had a good Spring last year. Especially not media buyers, who were tasked with allocating ad dollars six to nine months in advance—when they didn’t even know what fresh hell the pandemic would bring the next day.
So what happened? Brands crammed their budgets into the more flexible programmatic advertising and waited for the dust to settle before returning to linear, traditional television.
More of the same
What’s next: According to the three media buyers who spoke with Marketing Brew, 2020’s emphasis on flexibility is here to stay.
“Last year, flexibility was such a big need for clients for financial reasons, with all the business implications brought on by the pandemic—that type of flexibility, in our clients’ minds, is a mainstay need now,” said Molly Finnerty, SVP of strategic investment at Magna Global, which is responsible for $37 billion in global ad spend.
Rewind: In 2020, some networks adjusted, providing more order and option dates for partners. That meant brands didn’t have to schedule their entire year up front—they could buy the back half of the year at a later date.
- One buyer told us that in some cases, they could cancel orders up to 30 days before the start of the quarter, instead of the more rigid 60-day standard.
Some of that’ll stick
But it depends on who’s selling the inventory.
“Some partners are really trying to stick to a quarter by quarter basis. Other partners are saying ‘I want to do this on a more biweekly or bimonthly basis.’ It's not entirely consistent,” said another media buyer, speaking on condition of anonymity.
Despite some pandemic accommodations, there’s a reason the decades-old upfronts model has worked. Ad supported streaming has yet to match the scale of linear TV, and every buyer we interviewed touted TV’s massive reach. But they know it isn’t always quality reach.
It’s still buyers and their clients who get stuck with the bag if a buy isn’t as efficient as it should be.
“The networks are expecting the advertisers to assume all the risk and that's just not a fair equation anymore,” said Barry Lowenthal, CEO at ad planning and buying agency Media Kitchen.
Lotus pose
It isn’t just sellers with inventory that need to be flexible—it’s buyers, too. Clients are looking for an inventory mix with more wiggle room, said Finnerty. That means moving $$ within a portfolio even after it’s already been spent on an upfront.
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In practice: If Syfy isn’t working as a channel, for instance, try the USA network; both are owned by NBCUniversal.
Looking ahead: Buyers may be demanding more flexibility than ever, but networks still hold the inventory and the audience, and for the moment, nothing else has linear’s reach. So, TV networks still have a lot of leverage—and they could use it to put hard limits on how much they’re willing to bend.
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Francis Scialabba
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Last week, both Snapchat and Instagram announced plans to add a TikTok mainstay to their platforms—remixes, or as TikTok’s Gen Z kids call them, “duets.”
Huh? If you still haven’t learned a single TikTok dance, the platform explains that “duets allow you to build on another user's video on TikTok by recording your own video alongside the original as it plays.”
Instagram’s version of duets, dubbed “Remix this Reel,” has reportedly been in the works since Reels rolled out, per Social Media Today. Instagram’s currently testing the feature for some users.
Snap’s “Remix Snap” option is available in Snapchat’s response tools rather than on the homepage, making it more similar to TikTok’s original version than Instagram’s Remix tool. Snapchat confirmed it’s currently live testing the “Remix Snap” feature as well.
Why it matters: We’re not saying every social media marketer should be on TikTok—but we are saying they should get to know TikTok-inspired features when they start seeping into other popular platforms.
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SPONSORED BY THE TRADE DESK
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We interrupt your regularly scheduled newsletter content to tell you why you need to get in on the future of television advertising: CTV (aka Connected TV).
People are dropping cable subscriptions like they’re hot tamales—and this isn’t hyperbole, folks.
According to research from the CTV advertising gurus over at The Trade Desk, 27% of consumers say they intend to ditch their cable subscriptions this year—that’s up from 15% in 2020.
So what does this mean for you as an advertiser? With CTV, not only are you getting in front of the right eyeballs, you can be more agile, measure performance across channels, and adapt on the fly like never before.
Looking for more research on the matter? Well, then. *Lowers spectacles to tip of nose*
The Trade Desk just compiled their white paper, The Future of TV Report: The CTV Tipping Point.
Discover all the ways CTV is the future of advertising on the tube, right here.
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Giphy
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It’s not every day you see a legal firm bragging about its creative chops. But law firm Edelson PC has a “creative division” that churns out parodies, skits, and other content, per Ad Age.
More legal fodder: A former LeadDog Marketing Group exec recently started a brand promotions agency that’s providing digital and creative services…as well as legal and administrative help, reports MediaPost.
Big picture: We couldn’t help but wonder…are Elle Woods & Co. seriously considering a move to Madison Avenue?
As if: Former Publicis executive Rishad Tobaccowala told Marketing Brew why lawyers won’t be infiltrating advertising any time soon.
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One: “Expertise: Do you want your creative director driving legal briefs? Do you want your lawyer to be your creative innovator?”
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Two: “Culture: Law is about precedents, process, and protocol. Creativity is about connecting dots in new ways, taking risks, and challenging all that has come before.”
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Three: “Conflict: It’s like a fox guarding a henhouse.”
Bottom line: Lawyers have their place in advertising—Gut founder Anselmo Ramos once tweeted, “If you don’t have to call your lawyer, maybe your idea isn’t good enough.” But it’s unlikely agencies will recruit someone based on a law degree alone.
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Facebook has put its $750 million global media account—currently split between Mindshare and Dentsu—up for review, according to Ad Age.
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March Madness saw its viewership drop 18% from 2019 during the first five days of the tournament. It’s because some of the most competitive games were played on Mondays, not the weekend, says MediaPost.
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General Motors CEO Mary Barra was called out by Black-owned media execs (including Byron Allen and Ice Cube) in a full-page ad that ran in the Detroit Free Press. According to the ad, which will run in the Wall Street Journal later this week, she’s refused multiple requests for a meeting.
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San Diego Comic-Con will stage an “in-person” convention on Thanksgiving weekend.
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Can’t fight climate change while battling poor video connection. The Climate Reality Project needed to take their climate training for global leaders online, so they turned to Brightcove, the most reliable, scalable, and secure video platform. Where the Project used to train 1,500 leaders in person, their Brightcove-powered virtual event trained more than 14,000—proving that you can achieve broader reach with well-oiled virtual events. Read about it here.
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Francis Scialabba
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There are a lot of bad marketing tips out there. These aren't those.
Storytelling: No, these aren’t fleets. Here’s how Google Web Stories will take your site to the next level.
Followers: Even if we’re not on this year’s list, here are the top SEO experts to follow, according to Search Engine Journal. And they should know.
Intro: Not sure what to say in that cold email? These tips and advice from sales experts might help.
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Catch up on a few Marketing Brew stories you might have missed.
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Written by
Phoebe Bain and Ryan Barwick
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