Ad Price Inflation Continues To Decelerate, TV Remains Deflationary
Even as U.S. consumer price inflation has begun moderating, advertisers, planners and buyers are seeing their costs move in the opposite direction — especially for TV and “print” media — according to first quarter media price inflation estimates from ECI Media Management. While TV ad costs continue to be moving in a deflationary direction, the erosion of TV ad pricing power has improved from -5.1% in 2023 to -3.1% this year, according to ECI’s tracking. Despite improvements in TV, newspaper and magazine prices, the overall cost of U.S. media has declined from a 1.5% inflation rate in 2023 to a 1.4% rate in 2024. Read more from MediaPost.
Target to launch paid membership program to rival Amazon Prime, Walmart+
Target plans to debut “Target Circle 360”, a paid membership program that builds on its Target Circle loyalty program, the company announced Tuesday. The new program will offer unlimited free same-day delivery for orders $35 and up, along with free two-day shipping, rivaling similar offerings from Walmart and Amazon. Target will offer three membership options and as part of a launch promotion, paid Target Circle 360 memberships will cost $49 for the first year for non-cardholders who sign up by May 18. After that, the annual cost for non-cardholders is $99. Read more from Marketing Dive.
The top social channels where consumers interact with brands
In 2023, Facebook was the No. 1 social media channel where US internet users interact with brands at 61.5%, according to February 2024 data from Attest. But YouTube is catching up (60.3%), growing 10.4% from 2022. TikTok had the biggest change in how much internet users interacted with brands, increasing by nearly eight percentage points YoY. Interactions with brands went up between 2022 and 2023 on all platforms evaluated except X and Twitch, showing that social media is still a vital place to reach consumers.
Read more from Insider Intelligence.
63% of U.S. advertisers are prioritizing CTV at least as much as linear TV during upfronts
This upfront season, new research indicates that the focus of many marketers’ strategies will be on connected TV (CTV), with 63% of U.S. marketers leading their 2024 upfront buys with CTV or equally weighing streaming and linear investments. Conversely, just 36% of advertisers will prioritize linear TV. The report, based on a survey of 150 U.S. agency and brand leaders, highlights a trend where advertisers are aligning with consumers’ shift away from cable towards ad-supported streaming, with nearly two-thirds planning to lead with CTV or balance CTV and linear TV buys. Read more from The Current.
Caitlin Clark Effect: Women’s Hoops Ratings Top Men’s, Fox Says
Records seem to be broken every time Iowa women’s basketball star Caitlin Clark touches the court. Women’s college basketball is drawing more viewers than men’s college games on Fox, according to Michael Mulvihill, president of insights and analytics at Fox Sports. Women’s games are averaging 981,000 viewers, compared with 946,000 for the men. Fox’s women’s basketball regular-season slate also featured a record 14 games this season. Sunday’s Iowa-Ohio State matchup on Fox earned 3.39 million average viewers, the highest TV turnout for a regular-season women’s college basketball game on any network in 25 years. Viewership peaked at 4.42 million, and it was the most watched women’s college basketball game in Fox Sports’ history. Read more from Sportico.
