The Media Online’s weekly wrap of need-to-know global media news.
Global media planning and buying market valued at $424.9bn
New research, from procurement firm Beroe, has valued the global media planning and buying market at $424.9 billion currently. It also estimates that this figure will grow by 4% to reach $52.5 billion in 2021.
The report cites the main growth driver as increased global penetration, with marketers spending more of their budgets online.
Prolific London has the full story, including a breakdown of the biggest markets, here.
Trump proposes own media network to ‘put the real news out there’
US President Donald Trump took another shot at CNN this week, proposing starting his own media network to ‘put some real news out there’.
Since taking office, Trump has consistently degraded CNN, calling them fake news media.
In his latest jab, Trump said CNN is “so bad … They are so bad for our country”.
For the full story, published by VOA, click here.
World Federation of Advertisers plots global, standardised media measurement
Following two days of discussions and planning during Advertising Week New York, the World Federation of Advertisers (WFA) has unveiled its strategy going forward to standardise media measurement globally.
The industry body’s newly formed Cross Media Working Group, headed up by major advertisers, including Unilever, Mastercard and EA, is looking to hasten adoption of a consistent, global measurement solution without having to take a different approach for each market.
The Drum has more information, here.
Vice Media acquires Refinery29
Youth culture and entertainment-focused, digital media and broadcasting company Vice Media has acquired women’s lifestyle publisher Refinery29.
The deal is worth an estimated $400 million and will see Vice tap into an audience segment that it has lacked in the past, women.
Refinery29 has been looking for a buyer for the past few years, due to a tough operating environment.
The New York Times has the full story, here.
ASA in UK bans Burger King ‘milkshake’ tweet
Burger King in the UK has had a tweet banned by regulator, the Advertising Standards Authority. The offending post came during the European Union elections earlier this year when several politicians, including the right wing Nigel Farage, were pelted with milkshakes (and other food and beverages).
McDonald’s actually stopped selling the dairy drinks ahead of a Farage visit to Scotland, while Burger King tweets, “Dear people of Scotland. We’re selling milkshakes all weekend. Have fun. Love BK. #JustSaying.” And it followed up with: “We’d never endorse violence—or wasting our delicious milkshakes! So, enjoy the weekend and please drink responsibly, people.”
Adweek has more here.
Tolerance for ads depends on genres
New research suggests that streaming services should start looking even more granularly at advertising – down to the genre level – as consumers vary in their tolerance for ads based on the type of shows they like to watch, Business Insider in the US has reported.
The Deloitte research team polled over 2 000 US consumers about their streaming habits. They found respondents “had the highest tolerance for advertising when their most-watched type of show was talk shows (11.6 minutes per hour), and the lowest when it was scripted comedies or dramas (7.2 minutes) or news (6.7 minutes)”.
For the full story, check out Business Insider here.
Political advertisers need new channels to reach young voters
Group M in the US has estimated political advertising ahead of the elections in 2020 could total over $10 -billion.
The ‘Connected GenZennials: The CTV-First Generation’s Impact on the 2020 Elections’ report from Telaria, has “bust” three myths about political advertising aimed at the influential 18-29 year old market, who number 52 million.
Myth #1: Linear TV is the best way to reach voters
Myth #2: Young people don’t vote
Myth #3: Political advertisers should turn to social media
“The shifting tide in media consumption is staggering and suggests the need for meaningful changes in marketing strategy. As more consumers switch their allegiance to connected TV (CTV), advertisers must similarly pivot to keep up,” the research showed.
For more, read the story in AdAge.
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