Blog: CAGE 2015: Can we ditch our TV ad addiction?
Andy Morton | 17 March 2015
It was a throwaway aside in a conversation about marketing spend.
“Nobody is investing in TV any more,” the head of a UK marketing agency told me a few months ago while discussing the emergence of luxury pop-up stores.
However, it seems companies ARE still spending on TV marketing - the point is, they shouldn't be.
In a presentation at the Consumer Analyst Group Europe (CAGE) conference in London yesterday, Martin Sorrell, CEO of multinational ad agency WPP and industry icon, revealed that in 2013, 45% of overall ad spend in the US went to TV. But consumers only spent 38% of their media time watching television.
Compare this to the internet, which takes 22% of ad spend but 25% of time spent. For mobile devices, the gap is even wider - just 4% of spend but 20% of time.
According to Sorrell, this represents a massive opportunity for FMCG companies who are willing to invest in new digital platforms - as long as they can ditch their TV dependency.
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