Delaying payments, renegotiating payment terms, asking for deferrals, downsizing or even closing the account temporarily are some of the ways large advertisers are trying to conserve the amount of money they have to spend during the pandemic.
| Delaying payments, renegotiating payment terms, asking for deferrals, downsizing or even closing the account temporarily are some of the ways large advertisers are trying to conserve the amount of money they have to spend during the pandemic. And the bigger the client, the more it can get away with, it seems. Read more below. Though Pfizer has told agencies that it could take up to 120 days to get paid, one agency source said “agencies are going to want to work with Pfizer regardless of those terms." Digiday caught up with Mastercard chief marketing and communications officer Raja Rajamannar to hear why the brand reduced its spending and when he thinks marketers will start spending again. For Digiday+ members, Coronavirus keyword blocking is a symptom of a much larger issue. “The system is very broken,” said Tracy De Groose, chief executive of Newsworks. Advertising is the lion’s share of the Daily Beast’s overall revenue, but with a 40% decrease in its programmatic business, the publisher is using its membership product to help mend the financial wound. Despite the pandemic's challenges to web publishing, Digital Trends CEO Ian Bell forecasts revenue "north of $50 million" in 2020, without having to resort to layoffs or furloughs, he said in the latest episode of the Digiday Podcast. Other things to know about On this week’s The New Normal, Digiday editor-in-chief Brian Morrissey will be joined by Action Network CEO Patrick Keane to discuss how a media company focused on sports betting adapts in an age where sports around the world are canceled. RSVP here to join us on Friday at 12:00 p.m. ET. We’ve assembled the Publisher Partner Coalition, a group of solutions providers offering great terms, no-fee access to products and services and more to publishers in need during these difficult times. Use our new resource to uncover offers to increase revenue, improve your cash positions and more. | | |
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howdy! howdy! howdy! | Coronavirus Fallout | | Inside the Daily Beast's corona bump in memberships | | Advertising is the lion’s share of the Daily Beast’s overall revenue, but with a 40% decrease in its programmatic business, the publisher is leaning into its second largest revenue stream — memberships. | | |
howdy! howdy! | | | Guardian US CEO Evelyn Webster forecasts profit ‘even in the most dire scenario’ | | "There's absolutely no doubt that we're going to see a boost to our reader revenue during this period, and we are going to see our advertising hit hard. I do not know how hard and how deep. I don't think any of us do," Webster said. "[But] even in the most dire scenario that I have looked at, the Guardian would still be a profitable business in America. |
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