Pay-TV execs expect increased competition

The global findings of the 2018 Pay-TV Innovation Forum, produced by content protection and multiscreen television solutions provider NAGRA in partnership with international research and strategy consultancy MTM, highlight that 84 per cent of pay-TV executives expect competition for paid-for video services to increase dramatically over the next five years.

The programme seeks to identify how innovation is driving opportunities for content owners and service providers around the world as they face a disrupted market. The findings are based on extensive regional research conducted in Europe, North America, with a special focus on the United States, Asia-Pacific and Latin America.

While participants are optimistic they can continue to appeal to paying consumers, an increasing number – 90 per cent of executives – believe that pay-TV providers will have to innovate strongly to remain competitive and relevant, up from 85 per cent in 2017.

The research highlights how the pay-TV industry is converging towards a platform-agnostic model, and as a result is transitioning into a paid-for-video market, spanning a variety of offerings including standalone OTT and direct-to-consumer services. This shift is another reason why 77 per cent of pay-TV executives consider innovation to be one of the top three strategic priorities for the industry.

Content piracy remains a concern, with executives agreeing that the industry is experiencing a significant threat to the long-term sustainability of pay-TV and OTT businesses. Forty-seven per cent of 2018 respondents believe that piracy will lead to greater pressures on the industry over the next five years, in line with 2017 findings.

While challenges remain, this year’s research brings into focus the six key innovation areas in the industry:

– Continued investment in next-generation pay-TV services: Most pay-TV providers (65 per cent) have improved their portfolios in the last 12 months, primarily focusing on the core pay-TV proposition as they deploy next-generation set-top boxes that support advanced functionalities such as third-party apps, personalised content recommendations, and 4K.

– More diverse multiscreen pay-TV propositions: 77 per cent of executives surveyed believe that pay-TV bundles will evolve substantially over the next five years, catering to the needs of different customer groups, and 89 per cent agree that delivering a seamless and personal consumer experience will be key.

– The next wave of aggregation – super aggregators: This model, where companies offer a range of content and services via a single subscription, is seen as a way of simplifying a fragmented marketplace for consumers, while also offering additional growth opportunities for well-established operators.

– Converging pay-TV / OTT offerings: Most traditional pay-TV providers are now looking to offer converged pay-TV/OTT services. As a result, the pay-TV market is transitioning into a paid-for-video market.
– Moving beyond the set-top box: Many industry executives believe that network infrastructure and billing relationships – rather than proprietary set-top boxes – are now the gateway to the customer.

– Growing focus on diversification, particularly connectivity: Fixed and mobile broadband services are expected to grow in importance in future as providers pursue bundling strategies to deliver better value and improve stickiness.

“Change is the one constant in the global pay-TV industry, driven by numerous pressures from competitors, pirates and subscribers, making it challenging for service providers and content owners to maintain revenue growth,” said Simon Trudelle, Senior Director, Product Marketing, NAGRA. “It has never been more important to understand new consumer expectations, anticipate future needs and innovate, and this report reflects the way pay-TV service providers around the world are taking the necessary steps to strengthen and grow their product and service portfolios.”

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Facebook Watch goes global

Facebook is rolling out Watch, its video-streaming service, globally effective immediately. It comes a little over a year after its US launch.

Users of the site, which looks set to take on the likes of YouTube, will be able to choose from a range of shows – from both established brands and new players – and have the ability to view clips saved from their News Feeds.

The social media giant plans to allow all content creators to feature advertising breaks, so long as they hit certain metrics. Until now, only select publishers had been given the opportunity.

To begin with, only videos shown to audiences in the UK, US, Ireland, Australia and New Zealand will have this facility. The revenue split will be 55 per cent to the creators and 45 per cent to Facebook.

Facebook also revealed it will spend up to $2 billion itself on creating original content for Watch.

Commenting on the news, Kirsty Brice, Director of EMEA Marketing at 4C Insights, said: “This is the leap advertisers have been waiting for. It’s been on the cards for some time with the Premier League deal Facebook signed earlier this summer, and at the start of the season it’s the perfect time to roll out the platform for users. Facebook has been going from strength to strength in recent months, with ad spend up 26 per cent Year-on-Year in our latest report. New developments like Story Ads continue to draw advertisers to the platform and any fallout from Cambridge Analytica was not apparent in our data.!

“It’s also an interesting move in the wider context of platforms such as Amazon colluding broadcast entertainment with social and ecommerce. It’s important for advertisers to remember that while each platform appears to be closing the loop on audiences, the reality is that we now live in the age of the consumer. Prospects can happily switch from Facebook to Snapchat and then Amazon, changing device as they go. Multi-screen viewing is the new reality. While marketers have started to adopt cross-channel campaigns, to truly market the way that consumers consume, they must master a platform agnostic, audience-centric approach,” she concluded.

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Social “the new TV” for young UK audiences

Creative tech player VidMob surveyed 1,000 16-24 year olds and 1,000 25-34 year olds in the UK in May about their media consumption and digital advertising preference.

The study reveals where and why Gen Z and Millennials consume video content, engage with video ads and form perceptions about brands.

The findings from VidMob’s State of Social Video study could have implications on how marketers use video ads to connect with younger audiences in the UK:

1. Social is the new TV: a large percentage of younger audiences’ time spent is watching video.

– 40 per cent Gen Z’s digital time is spent watching video over reading articles or looking at photos while 33 per cent Millennials watch videos over articles or photos.
– In every hour of digital time: Gen Z spend 24 minutes watching video while Millennials spend 20 minutes watching video.
– 57 per cent of video time per day is spent on social apps (31 per cent YouTube, 26 per cent other social platforms) — that’s 3.8x time spent watching linear TV and 2.5x watching streaming services.

2. All social boats are rising:

– 52 per cent of Gen Z and Millennials spent more time on social media this year versus last year.
– Growth in usage of social apps is 27 per cent higher than mobile browsers.
– Compared to last year, Gen Z has embraced YouTube, Snapchat, and Instagram whilst Millennials show the most love for Instagram and YouTube.

3. Social has become the portal to the web:

– Less than 4 per cent of Gen Z and Millennials open a browser first.
– Top 3 first apps opened by Gen Z are Snapchat, Facebook, and YouTube.
– Top 3 first apps opened by Millennials are Facebook, Instagram and Snapchat

4. It’s a Stories World:

– Over 63 per cent of Instagram and Snapchat users watch Stories on both platforms daily.
– Percentage of Millennials who consume Stories on each platform: Instagram 68 per cent; Snapchat 49 per cent; Facebook 44 per cent.
– 31 per cent of Gen Z watches Facebook Stories.

5. The meaning of personalisation has changed for younger audiences:

– Across the board, similar style and taste is most important for whether either generation likes an ad.
– 34 per cent of Gen Z feels more positive towards ads that are visually beautiful versus 33 per cent of Millennials.
– Gen Z dislikes overly repetitive ads (46 per cent say it annoys them; 29 per cent say they tune out).
– Millennials either tune out or dislike brands who run the same ads over and over.

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For Digital-First Content Providers, Product Placement Takes Center Stage

In Netflix’s original film “Like Father,” the cruise line Royal Caribbean literally sets the stage for the movie – the brand is actually part of the story.

While this sort of product placement isn’t new, it’s coming at a time when content providers are trying to decrease their ad loads and experimenting with new ways to incorporate ads.

Research from PQ Media reports that 84% of millennials don’t “like or trust” traditional marketing. This disillusionment has given rise to a trend that Ian Schafer, co-founder and former CEO of the marketing agency Deep Focus, calls “brands underwriting content.”

“This is happening more and more as publishers don’t have the financing or capital to underwrite a ton of original programming,” Schafer told AdExchanger. “Increasingly, they’re hatching ideas with brands to create new forms of branded entertainment.”

Ninety-one percent of Hulu originals and 74% of Netflix originals contain brand integrations, according to PQ Media. And Hulu says its overall sponsorship deals have increased 30% year over year.

While the core tenets of product placement haven’t changed much over the last few decades, brands have become increasingly entwined in every step of the production process. In some cases, a show might not even get off the ground without a brand attached.

“There are companies that we work with that have direct relationships with showrunners,” said Erin Vogel, SVP of creative lead branded content at Publicis-owned media agency Spark Foundry. “When we get pitched shows before they’re greenlit, we get established networks or studios that will bring us a show and say, ‘This doesn’t have any brands integrated. We might not even greenlight them if we can’t find a brand to be associated with them.’”

Hulu’s VP of integrated marketing, Nicole Sabatini, says that brand integration is more critical than ever to the company’s success.

“Not only can we work with brands to integrate them into our storylines, but because we have an ad-supported platform, we can then amplify that with other elements surrounding the show,” she told AdExchanger, referring to the targeted ad units Hulu can create.

In the first season of “The Runaways,” Sabatini oversaw an integration with Lyft. The deal was inspired by the show’s teen actors, who shuttled themselves around the set using the ride service. Hulu then came to Lyft with an offer that it was happy to engage in, since it wanted to be in “culturally relevant spaces,” Sabatini said.

Hulu similarly integrated McDonald’s into a season plotline of “The Mindy Project,” which worked out very organically, as its creator, Mindy Kaling, apparently loves McDonald’s.

A spokesperson for Hulu told AdExchanger that brand integrations have “delivered an 89% increase in purchase intent among viewers and a 74% increase brand awareness in comparison to a traditional 30-second spot.”

But these product placements are largely the result of in-person negotiations. Can automation – which has had a growing role in media buying – change the nature of product placements?

Video ad tech company TripleLift has a product designed to help brands place different products into content based on user data. For example, a bottle of Sprite in an episode of “Stranger Things” might appear to one viewer as a bottle of Dr. Pepper, depending on whom an advertiser is trying to target.

“The technology for programmatic product placement is already there,” said TripleLift CSO and co-founder Ari Lewine. “it’s just a matter of time before forward-leaning media companies, particularly those pursuing vertical integration strategies, which own content and distributions, start to invest in these kinds of solutions.”

Lewine said this vertical integration is essential in order for programmatic product placement to work, because user subscription data is needed to serve ads that are relevant to them.

Both Lewine and TripleLift co-founder Shaun Zacharia said the main challenge in automated product placement is not the technology, but MVPDs’ reticence to sign on to something that manipulates content. This could mean legal battles around licensing fees and potentially mountains of paperwork.

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Online video adspend to rise a whopping 27.5% this year

Advertiser expenditure on online video continues to grow rapidly thanks to a boom in mobile consumption and most of that spending is going on social platforms – despite concerns over brand safety and ad fraud – according to a WARC report.

The latest monthly Global Ad Trends report focuses on online video and says that expenditure on the medium – inclusive of pre/mid/post roll, social and broadcaster VoD – is expected to rise 27.5 per cent to reach $29.8 billion this year.

And with linear TV advertising increasing at just 1.1 per cent this year, online video is taking an ever greater share of the total video advertising market – 17.5 per cent in 2018.

The shares vary widely between markets, however. In the UK, online video is expected to account for 38.2 per cent of all video adspend this year; in China the figure is 24.7 per cent while in the US, the largest video market by far, the figure is 19.3 per cent.

With over 60 per cent of daily online video viewing now on mobile devices, most of this money is going to mobile-optimised social platforms such as YouTube and Facebook, the report says.

UK data from the AA/WARC Expenditure Report, for example, shows that of the £1.6 billion spent on online video advertising last year, 81.2 per cent (£1.3 billion) was paid to social platforms (up from a share of 55.4 per cent in 2014).

“The vast and continuing increase in video consumption via mobile devices has directed ad dollars to social platforms, despite the well-documented and persistent risks around negative adjacency and ad fraud,” said James McDonald, Data Editor, WARC.

Data for the second half of 2017 shows that at least one in ten online video ads pose a risk of negative adjacency to brands. And a recent study by Guardian US and Google found that as much as 78 per cent of video spend is susceptible to fraud if the publisher does not employ the ads.txt script within their website.

“Facebook hopes to regain the initiative with its Watch platform, which is being positioned as a safe brand environment offering advanced audience segmentation”, McDonald noted.

As influencers account for more than half of video views on Facebook, advertisers are increasingly turning to them to build brand equity and deliver their messaging aside approved content.

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Jeremy Corbyn proposes creation of BBC sister company – the British Digital Corporation

Labour leader Jeremy Corbyn has proposed the launch of a sister company to the BBC which would be called the British Digital Corporation (BDC) and funded by a tax on technology companies like Amazon and Google.

Corbyn put forward the idea along with a slew of other media reforms during his Alternative MacTaggart Lecture at the Edinburgh TV Festival today (23 August).

What is the BDC?

The new BDC would exist as a free to access service alongside the BBC.

Though the BBC has plans already in place to develop its landmark iPlayer service, which director general Tony Hall said was vital to the future of the public broadcaster, Corbyn has tabled the creation of a much more radical separate bespoke digital service that would futureproof its existence.

The Drum approached the BBC for comment but the broadcaster declined to discuss the proposals.

The leader of the opposition proposed the BDC plan in the hope of generating “some thinking” around a public sector body taking advantage of new technology, he said. The proposition builds upon the idea of a BDC, first floated by James Harding, the former BBC director of home news.

“Imagine an expanded iPlayer giving universal access to licence fee payers for a product that could rival Netflix and Amazon. It would probably sell pretty well overseas as well,” he said.

In addition to an organisation that would commission content he said it might also create a secure social media platform that would rival Facebook.

“A BDC could develop new technology for online decision making and audience-led commissioning of programmes and even a public social media platform with real privacy and public control over the data that is making Facebook and others so rich,” he explained.

Corbyn said he did not want the public realm to sit back and “watch as a few mega tech corporations hoover up digital rights, assets and ultimately our money”.

A BBC funded by tech giants

Corbyn said this venture would be funded by a “digital licence fee” that would be issued to a “few tech giants and unaccountable billionaires” who “control huge swathes of our public space and debate”.

Under his scheme, media companies like Google, Facebook, Netflix and Amazon operating in the UK would be taxed.

Corbyn noted that “the licence fee itself is another potential area for modernisation”.

“In the digital age, we should consider whether a digital licence fee could be a fairer and more effective way to fund the BBC,” he said.

On its implementation, he added: “A strong, self-confident government could negotiate with these tech giants to create a fund, run entirely independently, to support public interest media.

“Google and news publishers in France and Belgium were able to agree a settlement. If we can’t do something similar here, but on a more ambitious scale, we’ll need to look at the option of a windfall tax on the digital monopolies to create a public interest media fund.”

Google and Amazon both declined to comment on Corby’s speech when asked by The Drum.

Additional proposals

In the lecture, Corbyn also made a number of additional proposals on the future of the BBC.

He suggested that the corporation could be freed from government control by having the taxpayer elect representatives to its board.

He also suggested granting charitable status for not-for-profit journalism outlets, creating an independent public service journalism fund and for the BBC to regularly produce internal reports on its operations for greater transparency.

On a wider level, Corbyn set forth an agenda for the media industry. “To improve our media, open it up and make it more plural, we need to find ways to empower those who create and consume it over those who want to control or own it.”

He also expressed concerns with the monopolisation of the UK’s media. “Just three companies control 71% of national newspaper circulation and five companies control 81% of local newspaper circulation. This unhealthy sway of a few corporations and billionaires shapes and skews the priorities and worldview of a powerful section of the media.”

Corbyn concluded: “We need big, bold, radical thinking on the future of our media. Without it, at best, we won’t take advantage of the opportunities in front of us as a country and for the kind of journalism that makes the world a better place. At worst, a few tech giants and unaccountable billionaires will control huge swathes of our public space and discourse.”

The National Union of Journalists (NUJ) issued a statement in response to Corbyn’s comments.

Michelle Stanistreet, NUJ general secretary, said: “The NUJ welcomes bold proposals that seek to protect and bolster public service broadcasting, and aim to carve a future for the BBC that is free from the ceaseless political pot-shots lobbed its way in the last two licence-fee settlements that have undermined its resources and threatened its ability to deliver quality content and programming. As a union we want to see an end to the raiding of the licence fee – which has put the BBC in the unenviable position of having to fund free licences for the over-75s or be the organisation that is forced to wield the axe on what had always been a government-funded welfare benefit.

“Extending freedom of information legislation to include private companies in receipt of public contracts can only be good for public interest journalism. As will be the long-overdue need for action on digital monopolies that have so badly hit traditional media players in the industry – whether it’s an agreed settlement with the likes of Google and Facebook or a windfall tax, that is money that could be a shot in the arm to journalism in the UK.”

Rowly Bourne, founder of media adtech firm Rezonence expressed skepticism about the launch of the BDC. “Firstly, I love it when politicians and big corporates make it sound so easy to create a new product or company from scratch. There is overwhelming statistical evidence that big corporates and government fail to disrupt even themselves, let alone sectors they are not experts in. Ask any entrepreneur or early-stage investor, they invest in the team and the entrepreneur, who will have the sheer bloody-mindedness to deliver, not government backing.

“Everyone talks about Facebook which has won market share, but there have been so many fallen stars along the way, from Bebo, Myspace, and let’s not forget Google has had an attempt at making its own social platform (Google Plus) and failed. Facebook is powerful because it has create a product and evolved a product to meet the needs of its customers base, as voted for by its customers, who could leave to use another platform at any point. “

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Q2 US pay-TV subs fall but OTT prospers

Strategy Analytics’ analysis of US pay-TV subscriber numbers shows Virtual Multichannel Video Programming Distributor (vMVPDs) with 868,000 net adds in Q2 bringing the total number of vMVPD subscribers to 6.73 million, up 119 per cent YoY.

Despite this, overall pay-TV subscribers (cable, satellite, IPTV, vMVPD) fell to 93.78 million, breaking a string of two consecutive quarters of growth, according to a Strategy Analytics’ Television & Media Strategies report, which examined the subscriber bases of 27 public traded and private pay-TV operators, accounting for 97 per cent of all pay-TV subscriptions.

“While the entire vMVPD segment is growing, AT&T’s DirecTV NOW deserves special notice,” said Michael Goodman, Director, Television & Media Strategies, given how rapidly it has grown in a fairly short period of time. If it continues on its current growth trajectory it will overtake Sling TV as the largest vMVPD in early 2019.”

In comparison, Qq 2018 was not particularly kind to legacy pay-TV providers (e.g., cable, satellite, IPTV) as they lost nearly as many subscribers (-973,000) as the prior two quarters combined (-1.16 millio). In Q2 2018, total legacy pay-TV subscriptions fell to 87.05 million, down 3.6 per cent YoY.

“Historically, pay-TV in the US has consisted of cable, satellite, and IPTV; however, the introduction of over-the-top pay-TV services, commonly referred to as vMVPDs, necessitates a change in our thinking,” said Goodman. “What we have commonly referred to as pay-TV (cable, satellite, and IPTV) should now be referred to as legacy pay-TV, while the definition of pay-TV should include vMVPDs.”

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The Arrival of OTT Live Video

Video-on-demand streaming systems have drastically changed how video content is monetized, delivered, and consumed. Over-the-top (OTT) distribution platforms have completely evolved customer expectations for content, driving greater demand for an ever-higher quality of experience—and this demand for quality is now impacting a long-held mainstay of broadcast TV: live events.

According to Forbes, 2017 saw tremendous consumer growth in streaming TV services, and 2018 is set to be even bigger. This year, eMarketer estimates that 181.5 million U.S. consumers will use connected TVs at least once every month—equating to more than 55% of the U.S. population—and by 2021, that number will expand to 194.4 million, which is almost 58% of the population.

Today, every major television outlet is in the midst of launching or advancing their direct-to-consumer VOD streaming services. Consumers now have more control and choice than ever, and the industry is becoming fiercely competitive in its quest for high-quality content to keep viewers. According to Parks Associates, there are over 200OTT services in the U.S. market, and that number is increasing rapidly.

Setting the Stage for Live OTT Streaming

Video-on-demand (VOD) systems have erased content delivery barriers and have paved the way for almost limitless service options. It is now possible to distribute a wide range of content for different devices, such as SD and HD in various resolutions. As broadcasters and program providers work to upgrade and improve their systems, the next frontier for OTT and direct-to-customer streaming will be in delivering high-quality live content.

With rapid innovation and the acceleration of new features and services coming to market, the advancement and acceptance of cloud-based live streaming will shift from leading-edge adoption to mass consumption in record time—and quality of experience will be the differentiating factor for consumers and providers alike.

While early adopters of live streaming accepted convenience over quality, capturing market share now requires meeting the quality expectation of the average cable TV consumer for live content. Ranging from interface performance and convenience, to pricing, to video and audio quality, the total quality of experience is foremost in mind with consumers. Customers are looking for a provider that can deliver both the convenience and quality they demand. Quality compromise is no longer an option.

Tools for Assuring a High QoE

Early streaming providers introduced live services quickly to establish market share and test customer acceptance. Owing to that development approach, even now some providers only have basic data that “something is going out.” Except for setting up a local Roku box, these providers don’t have any visibility of content quality until something major happens. It’s like waiting until your car breaks down before addressing issues; there are no tools in place to proactively monitor the content or quickly perform diagnostics and troubleshooting. Within an environment that’s become all about the quality of experience, this is not a good go-to-market strategy.

Live cloud streaming networks and workflows are very complex. Operators are bringing new services to market at rapid speed and are innovating with new features and updates even faster. This combination of complexity and rapid evolution on a still-maturing platform is a combination that naturally leads to streaming issues.Recently, for example, a large provider had a major issue during a live prime-time game, and it took more than an hour to find and fix the issue. Many customers dropped off and went somewhere else.

In the VOD and live streaming market, a provider’s brand is defined in terms of the quality of the content delivered. The key to success here is proper monitoring. Providers must leverage a system that detects, alerts and reports on critical customer-impacting issues.The goal is to give departments tasked with quality a single tool for monitoring assets and network performance, regardless of whether the distribution and delivery network is linear or multi-profile streaming.

One solution is to utilize software-based architecture, which allows for high levels of flexibility in where and how information can be accessed. It also makes it possible to customize what is reported and when it is delivered.

Customization can be invaluable for providers. In any buildout for monitoring, the key is finding a way to receive aggregate data and analytics that will also provide a comprehensive network overview. Identifying a common and consistent set of measurements to simplify diagnosis and reduce the time to remedy complex issues is critical to supplying users with a high level of quality content.

Simply put, engineering personnel must be supplied with a range of in-depth measurements and analysis to ease fault diagnosis on reported issues. This allows managers and technicians to quickly react before the end customer notices a problem, allowing businesses to avoid costly impacts of viewer dissatisfaction.

Low Barrier to Entry, High Cost of Failure
Millions of consumers have a VOD service like Netflix now, and the quality is very similar to what we would consider broadcast quality. Catalyzed by that exposure, the expectations of quality for live event streaming have changed.

In the early days of live streaming, customers who were away from a broadcast were just happy to be able to watch and track a game or live event remotely on their smartphone, laptop, or other device. The consumer accepted the fact that a cloud-based, internet-broadcast remote event would have issues. But now the expectation is for much greater reliability and a level of quality equivalent to broadcast television.

For providers to deliver on this promise, it’s critical to have proactive tools that can detect issues before the customer sees it. Today, quality is both a differentiator and a detriment. It’s no longer a commodity. It’s easy for customers to take advantage of free trials to test various providers to see which they like best. It’s also easy for customer to switch between providers looking for a better experience.

Of course, streaming providers can tell that they’re sending information out. The switches and network can verify that millions of packets went out, but they can’t see the content. Even if you know that data is moving, that doesn’t mean it looks good. Providers are realizing that they need to instrument for proactive stream quality and reliability. There’s an incredible level of competition—and it’s only going to increase.

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Direct correlation between TV ads and auto website traffic: Ignore it at your own peril

If you want to increase the traffic to your auto dealer website, increase your TV ad spending. Cut back on TV advertising at your own peril.

An in-depth investigation from the Video Advertising Bureau (VAB) reveals that 76% of auto brands saw a direct correlation – good or bad – in proportion to their TV ad spending.


– On average, the brands that increased their TV investment spent 15% moreon TV and saw a 48% increase in unique website visitors
– On average, the brands that decreased their TV investment spent 15% lesson TV and saw a 28% decline in unique website visitors
– Brands that increased spending on TV saw traffic to their websites increase 48%

The VAB study looked at the top 25 spending car companies, which bought $4.1 billion of TV ads in the fourth quarter of 2017 and found that 11 brands that increased TV spending also saw an increased number of unique visitors to their websites.

On average, the 11 companies that spent more increased TV buys by 15 percent and got 48 percent more unique visitors online.

– Chevrolet increased TV spend by 6% and saw a 50% increase in direct website traffic
– Toyota increased TV spend by 10% and saw a 43% lift in traffic
– Ford increase TV spend by 78% and saw a 33% increase in traffic

Brands that decreased spending on TV saw traffic to their websites drop 28%

The eight companies that cut spending reduced their TV spending by 15 percent and web traffic fell 28 percent.

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Kevin Spacey’s “Billionaire Boys Club” made $126 on opening day. That’s not a typo

If you’re reading this, you probably didn’t go see Kevin Spacey’s new movie, Billionaire Boys Club, at the theater this weekend.

How do we know this? Well, according to the Hollywood Reporter, the film made $126 when it opened across 10 theaters in the US on Aug. 17. One hundred and twenty six. Dollars. In other words, the film grossed about $12 per theater. That’s roughly the price of one movie ticket in the US nowadays. So, in total, approximately 10 actual human beings paid to see Billionaire Boys Club in a movie theater when it came out on Friday. We’re guessing you weren’t one of them.

Based on the real life 1980s social club of the same name, Billionaire Boys Club was one of the last films Spacey completed before a number of sexual assault allegations against the actor came to light in 2017. Since then, Spacey was fired from his long-standing role in Netflix’s House of Cards and hastily replaced in Ridley Scott’s 2017 J. Paul Getty film, All the Money in the World, by the Canadian actor Christopher Plummer. Netflix also canceled the release of a film about Gore Vidal, which starred Spacey as the famed writer.

In June, film distributor Vertical Entertainment announced it would go ahead with a limited theatrical release of Billionaire Boys Club despite the allegations, citing the work of the other actors and crew members on the film. “We don’t condone sexual harassment on any level and we fully support victims of it,” Vertical said in a statement. “At the same time, this is neither an easy nor insensitive decision to release this film in theaters, but we believe in giving the cast, as well as hundreds of crew members who worked hard on the film, the chance to see their final product reach audiences.”

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