Good News From Around the Industry: Sponsors See Olympic Glory, What it Takes to Build Brand Trust with Gen Z, and More!

Here’s what came across our desks this month:

AdAge: Barbie and Gap Team Up on New Collection Ahead of Blockbuster Movie
The big screen continues to be a big influence. Taking advantage is the Gap, who is teaming up with Mattel for a Barbie line of merchandise ahead of the much-anticipated movie’s release. 

Broadcasting+Cable: Viewers Are Canceling Subscriptions, Seeking Free Content
A new study from LG has found that 46% of viewers have canceled a streaming service to save money, and 59% said they were willing to cancel a subscription after finishing the content they wanted to see. This is good news for marketers, given the fact that 39% of views report searching online for a product or service after seeing a CTV ad. 

MediaPost: Does Olympic Performance Translate Into Gold Medal Brand Performance?
It’s official. Brands that sponsor the Olympic Games create stronger and more meaningful connections with consumers than brands that sit on the bench. A study from NBCUniversal and  BAV found:

• The Olympics creates a strong halo for official partners, who see a +117% increase in association with these Olympic traits (authentic, daring, distinct, fun, “high-performing, prestigious, social, and leadership) among Olympics fans.  

Marketing Brew: Visa Inks Deals with Several Soccer Players Ahead of Women’s World Cup
The Women’s March Madness tournament broke viewership records, meaning all eyes are now focused on the Women’s World Cup tournament, starting in July. Andrea Fairchild, SVP and head of sponsorships at Visa, sat with Marketing Brew to discuss how the brand benefits from putting an emphasis on women athletes. 

Marketing Dive: Upping Marketing Spend in Disruptive Periods Can Drive Profits
It’s something we’ve said before at TEGNA – history shows there’s a reward for bold and strategic companies with their advertising efforts in challenging and/or precarious times. A new survey from Gartner found that while most all marketers cut back their marketing budget at the end of 2022 amid economic uncertainty, those that increased their spending were twice as likely to grow their profits. 

MediaPlayNews: FAST-Talking at NAB Show 2023: ‘We’re Linear Again’
At this year’s NAB show, a group of c-suite experts gathered for the “FAST Channels and Furious Growth” panel to discuss the secrets behind the boom of Free ad-supported TV. One important takeaway is that consumers feel FAST channels are equivalent to syndicated TV. “​​“So what we find is that the viewers who are leaning more heavily into these FAST channels tend to skew older, and I think a lot of that is just transitional — the electronic program guides, not everyone grew up with that, but for [older viewers] it just feels comfortable — ‘Oh, this feels like my cable box.’”

NextTV: FAST Services Taking Hold in Black Households: Horowitz Research
Horowitz Research chief revenue officer and insights & strategy lead Adriana Waterston tells NextTV, “This is an audience hungry for content, which drives higher consumption across a wide variety of platforms and services. In today’s fragmented media ecosystem, offering a broad array of content that represents the diversity of Black experiences, lifestyles, cultures, and communities is an important way for media companies to super-serve this important audience and keep them engaged.” 

Time: From Bud Light to Nike, Brands Face Backlash for Featuring Trans People. Why They’re Sticking to Their Decisions
Despite facing boycotts and backlash, big brands are sticking to their guns, unwavering in their support for underrepresented communities of people. Sarah Kate Ellis, president of GLAAD, tells Time, “Brands know that LGBTQ inclusion is good for business. It reaches our community and also reaches the growing number of consumers who want to see their LGBTQ friends and family members in ads and campaigns.”

Vox Media: For Gen Z, Identity is What They Make It
A new study from Vox Media and Horowitz Research has found an ideal way for consumer brands to be seen and build brand trust with young adults born between 1997 and 2012 is to partner with media publishers that have “developed genuine bonds with Gen Z.”

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If you like what you’re reading, #TeamTEGNA would love to talk to you about how we can translate this good news into results for your brand. Let’s get in touch.