From the NewFronts to the upfronts, brands are jockeying for position to claim the infusion of advertising dollars coming back into the marketplace in 2021.
“We have a lot of juiced-up demand from a lot of consumers with a lot of extra money to spend,” he said on the latest episode of Variety’s “Strictly Business” podcast.“It’s stimulus-driven in many cases, at least collectively, because we really do need to remember a lot of people are still struggling, but on average people in the economy are very, very able and willing to spend money.”
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Also fueling advertising growth is not just a robust level of new business formation, but the emergence of new kinds of businesses more oriented to the explosive growth of e-commerce coming out of the pandemic. “A business forming in 2021 versus a business forming in 2019 could be radically different in every aspect of what they do and how they do it,” said Wieser. The average company reserves 1% of revenue to advertising. But what if the new generation of businesses being formed was more like 2%? Something like that is happening, and more of that extra money is flowing into Google, Facebook and Amazon.
In this wide-ranging conversation, Wieser address many key trends impacting the advertising world, including the rise of connected TV, addressable advertising and the extinction of third-party cookies.
“Strictly Business” is Variety’s weekly podcast featuring conversations with industry leaders about the business of media and entertainment. A new episode debuts each Wednesday and can be downloaded on iTunes, Spotify, Google Play, Stitcher and SoundCloud.