—New Report Spotlights the New Advertisers Investing In Outcomes Amidst Economic Uncertainty—
The Video Advertising Bureau (VAB) released its new report, Welcome to TV: Meet the New Advertisers Investing in Outcomes Amidst Economic Uncertainty. Who are these new spenders? Why are they turning to TV? And how are their campaigns working? The report closely examines those questions, shedding light on the extent in which new advertisers are employing TV campaigns to deliver on an array of brand KPIs.
“In 2022, despite the threat of recession, there were 303 new TV advertisers that entered the marketplace, spending $1.3 billion across 71 product categories. Impressively, this is the largest spend among new TV advertisers that we’ve seen in four years of doing this annual analysis,” said Jason Wiese, Senior Vice President, Director of Strategic Insights, VAB. “These findings speak to TV’s proven ability to grow awareness, build brand equity and generate consumer interest, especially in times of economic uncertainty.”
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Among the report’s insights:
- Several first-time advertisers, including WhatsApp, Crumbl Cookies and Appleseed’s, launched in high-profile TV events and created partnerships to generate brand recognition and legitimacy.
- Leading-edge brands and digital-native companies, including Pinterest, Affirm and Cash App, are using TV to engage consumers and ignite trial of their products or services.
- Consumer optimism about heading back to school, back to work and early holiday planning drove a large increase in Q3 TV investment—with, in 2022, 56% of U.S. consumers intending to start their holiday shopping in October (vs. 45% in 2021).
- New advertisers in functional categories that serve everyday needs—like healthcare/pharma, insurance, financial services, professional services, lifestyle brands, fitness/wellness and more—also seized opportunities to engage with inflation-wary consumers.
- Those functional categories serving everyday needs were a driving force behind new entrants, accounting for almost $1 billion of first-time TV advertiser investments.
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