Mar 24, 2023

TV ads raised over $7 million for 30-second spots during this year’s Super Bowl on the Fox broadcast network. While this is more than TikTok’s US ad revenue this year, if the platform remains available in the US, growth is likely to continue. - Advertisement - Despite high prices and high demand for TV advertising during major live broadcasts, the overall advertising market has slowed in recent months due to economic uncertainty, putting pressure on traditional media companies such as Paramount Global And Warner Bros. Discovery . The move to TikTok comes as Gen Z and even adults spend more time on the platform. At the same time, traditional TV packages have been rapidly losing customers in recent years as consumers opt for streaming services. According to Insider Intelligence, TikTok’s ad revenue will reach $6.83 billion in 2023, up from over $5 billion in 2022. While this represents about 2% of total digital ad spending, the growth in platform spending has been rapid. Insider Intelligence expects US TikTok ad revenue to exceed $8 billion in 2024.. As part of March Madness, deodorant brand Degree said it was using TikTok as its primary marketing channel to reach consumers during the event. He also hired NBA star Giannis Antetokounmpo as a spokesperson for the event. “TikTok has truly gone from an experimental game to a must-buy for many advertisers. At this point, we are seeing a lot of advertisers rely on TikTok, and some may be too dependent on what’s going on,” said Jasmine Enberg, social media analyst. Insider intelligence. The dangers of TikTok Despite the outpouring of advertising dollars on the social media platform, TikTok risks being blocked in the US unless its Chinese parent company ByteDance sells its stake. The Biden administration and bipartisan members of Congress have raised numerous concerns about TikTok. US officials say TikTok poses a national security risk, arguing that US users’ data on the app could fall into the hands of the Chinese government. A TikTok spokesperson declined to comment on the company’s announcement of a possible ban. “If the goal is to protect national security, divestment will not solve the problem: the change of ownership will not impose any new restrictions on data flows or access to them. protecting user data and systems in the US with robust third-party monitoring, validation and validation that we are already implementing,” a company spokesperson said. Some creators, influencers and lawmakers opposing the proposed ban held a rally on Capitol Hill this week, claiming that other social media platforms pose similar threats. Companies advertising on TikTok have not commented on the possibility of a US ban Enberg of Insider Intelligence said that some advertisers may be too reliant on the platform. While TikTok is the platform of choice for Gen Z and younger users, advertisers should be “prepared to be discontinued if TikTok is banned or changes significantly.” “Over-reliance on one platform can be dangerous,” Enberg said. “Advertisers need to diversify their platforms.” During the Super Bowl T Mobile not only showed a few clips on TV during the game, but also ran a major TikTok campaign. While T-Mobile launched two TV ads during the Super Bowl, Chief Creative Officer Peter DeLuca said it’s also important for the brand to have a moment on social media, especially TikTok. The company decided to play off its home internet TV ad with a “Come to Your Fences” campaign, which allowed a TikTok user to use a fence filter by conjuring up thoughts of neighbors chatting over a backyard fence. “We relied on what the TikTok audience is using,” DeLuca said, meaning they created this filter to get attention. He did just that. While heightened awareness due to the Super Bowl often results in more traffic to T-Mobile’s website, the company said its TikTok campaign drove 15% of total traffic to its website between Feb. 9 and Feb. 15. When T-Mobile launched in-home TikTok ads on February 10, ahead of the Super Bowl, it drove 50% of its web traffic that day. “We used the platform and launched not only a 60-second video for the game, but also a longer version of the home Internet video on TikTok,” DeLuca said. “I think part of the way we like to think about it is that we want to get everyone’s attention from consumers on game day, not just get everyone’s attention on a TV spot,” DeLuca said. Credit: www.cnbc.com /