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Retail marketers planning to invest in 2021. The retail category as a whole will allocate $1.12 billion more to advertising in 2021, compared to 2020 according to research firm, BIA Advisory Services. This is a 6.8% increase, making up more than half of the COVID-caused 2020 decline. The firm forecasts increases in over the air TV (+8.8%), over the air radio (+4.3%) and out of home (+26.7%).
Shoe brand taking new steps to hit the bricks. Footwear retailer, Payless, is planning for a big 2021. After filing for bankruptcy last year, the company has announced an aggressive plan to retool and reopen brick and mortar stores starting with a flagship location in Miami this November and follow up, within the next five years, with roughly 300 to 500 more free-standing stores across North America.
Big box home improvement improves. Two of the nation’s largest home improvement chains had big second quarters. Home Depot reported year-over-year second quarter sales up over 24% while competitor, Lowes, reported a 30% increase in revenue for the same period. Both retailers credit the increases to homebound consumers wanting to improve their surroundings.
The Demand for Video
Ad-supported video-on-demand is in demand. Across five of the major ad-supported streaming platforms (Roku, Hulu, Peacock, Pluto TV and Tubi), ad revenues jumped 31% year-over-year to reach $849 million last quarter according to research firm MoffettNathanson.
Is your favorite TV show on the fall schedule? Advertisers and viewers can both look forward to some fresh programming this fall. TV networks have begun announcing start dates for many popular prime-time shows, both scripted and unscripted. For example, “This is Us” will return November 10, “The Voice” will bow on October 19 and “Match Game” will give Alec Baldwin fans something new to watch on September 24th.
How many homes have TVs? Nielsen just released its final 2020 measure of the number of homes in the U.S. with TVs. This year’s number, 121 million, is up slightly from last year. Nielsen defines a TV household as a home with at least one operable TV able to receive a signal through a cable, satellite over-the-air or streaming internet source.
Subscription video hits 78% penetration. 78% of all U.S. households now have a subscription video on-Demand (SVOD) service from Netflix, Amazon Prime, and/or Hulu – up from 69% in 2018, and 52% in 2015 according to consumer research from Leichtman Research Group, Inc.
That’s not good enough for Netflix. The previously subscription-only streamer recently announced a plan to offer select content for free in order to boost its market share. The free content includes a selection of films and TV show first episodes.
The Ears Have It
Where do we find the time? Before a recent report, analysts expected consumer time devoted to listening to podcasts to decrease as more stay-at-home individuals had access to TV and other visual media. But average time spent listening actually increased by a half-hour per week Q1 to Q2. Podcasts make up about 5% of “share of ear” with AM/FM still dominating with 42%.
Big radio advertiser preparing to go bigger. McDonalds had the fourth largest number of spots on radio last year. This year, they might move up the list after announcing a big return to the airwaves after pulling back during the pandemic. The popular QSR has announced a $200 million increase to its ad spending for the second half of the year in a bid to build its market share.
Popular vodka rocks virtual concert series. Spirits brand, Tito’s, is running a virtual music festival through October 8. The livestreamed festival will feature a new headlining act every couple of weeks, with each new concert following a theme that correlates to a different part of the U.S. Upcoming headliners include Dierks Bentley, Portugal. The Man and Zhu.
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