The coronavirus lockdown led big advertisers to slash their spend, dragging down the cost of airtime
With the public told to stay at home, high streets shut and travel halted, many of the UK’s biggest advertisers from McDonald’s to Sky froze their marketing budgets during the coronavirus lockdown. TV advertising bookings were reduced to a trickle, forcing broadcasters to slash the price of airtime to levels not seen in three decades, opening the door for dozens of small firms to make their first ever TV commercials.
TV advertising in pre-Covid times was generally too expensive for companies with modest marketing budgets. A 30-second ad during primetime shows such as Coronation Street or The X Factor would have cost between £50,000 and £100,000. To run a decent national TV ad campaign an annual budget of £2m is usually a minimum.
Continue reading… Source: The Guardian: How TV advertising's 'perfect storm' has given smaller firms a bite at the cherry ———