Spending on TV advertising has continued to subside. Overall, between 2014 and 2015, TV advertising fell by approximately four percent.
Specifically, it was noted that broadcast TV advertising, on networks like CBS, ABC, NBC and Fox fell by seven percent, a rate similar to Spot TV advertising. Spot advertising is when advertisers run an ad to a select market, network or geographic area rather than running the ad across several networks.
TV advertising during syndicated shows faced a similar fate.
The way in which advertisers are buying has also changed over the past year. Upfront spend dropped by 10 percent as advertisers were making less big commitments ahead of time. According to Standard Media Index records, the start of the 2015-16 television season saw a four percent decline in advertising. In September, cable TV advertising fell by five percent while broadcast TV fell by four percent.
Digital advertisers appear to be taking money away from traditional TV advertising. Advertisers are pushing online video both on Facebook and YouTube. The Standard Media Index records report that there was a 29 percent increase in digital advertising in September. Ad revenues for social media websites, video websites and Internet radio posted significant increases; the social sector jumped by more than 100 percent.
While some networks are not doing so well, ABC, Univision and Telemundo saw healthy revenue increases, which lines up with news that legal marketing has increased in Spanish networks.
PMP Marketing Group understands the changes and challenges that come with TV advertising, which is why we are a premiere marketing agency that can handle all your law firm’s marketing needs. We have a full media and digital marketing team, we can help your firm determine how best to utilize your budget so that you can reach the right audience.
For more on our experienced team, call (561) 296-5678.