Companies are tightening their budgets as the effects of COVID-19 hit global businesses across all sectors.
Marketing dollars are often among the first on the chopping block — and even giants like Alphabet and Facebook are expected to feel its effects.
However with more people avoiding close contact, direct-to-consumer and e-commerce business should be in demand.
Jed Meyer, managing director for North America, said:
Staying at home should increase streaming entertainment consumption patterns, which should boost companies like Netflix, Hulu, and other over-the-top (OTT) content providers. There may also be an increase in OTT and broadcast advertising opportunities, as more people watch television. While it is logical that some advertisers may reduce advertising budgets because of business uncertainties or supply chain issues, what may be different this time is that people will still be consuming things at home. They will be ordering products and services that can be delivered to them – which means that as marketers, you still want to send those messages about your products and services.”
This article was featured in Cheddar.
First featured 10/03/2020.