Happy Monday War & Peaceniks! Let’s go low-down, up front.
The words above are the most quoted in all of advertising. It’s time to put them to rest.
This week, I’m using every piece of data I can find to show my friends in advertising the best ways to not waste half their advertising money. Let’s jump in.
IT’S A BUYERS MARKET
We are in the middle of an ad recession. Ad spend projections were just revised down, again.
Across the buyer side, money is being moved out of Upfront-style agreements and into performance-based in-quarter scatter deals.
These (and so many more data points) are why I believe that 2023 will be the first-ever Performance Upfront.
The current state of the ad economy, combined with an enormously crowded and increasingly competitive selling market, reinforce the historic leverage advertisers have right now. These conditions allow buyers to look long and hard at the ad market to choose partners who won’t Wanamaker their ad money.
For many reasons, some below, 2023 will be a watershed year in advertising. Marketers should see and use 2023 as a pivot point in their relationships with platform partners. Think about what you actually want.
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