What’s Love Got to Do With It?

amp8220The Myers Report Brand Equity Study amp8211 Wave 1 2019amp8221 is in and thereamp8217s a twist The findings reveal the most beloved media brand across three cohorts advertisers agencies and consumers The top choice was one with no advertising Shocked Read on to learn which media brand garnered that honor and for more surprisesThe Myers Report in partnership with research platform Synqrinus recently completed a sweeping study rating the brand equity of major media brands We queried more than 300 advertisers 300 agencies and 600 consumers about their feelings on 100 media brands amp8212 regarding their personal media consumption habits We examined several elements of brand equity including intensity of emotion perception of social activism cultural relevance content differentiation perceived ability to thrive in the future and overall interest in the content We found that advertisers and media professionals are not immune to their personal media consumption biases spilling over into their workThat reaction is no surprise Emotion is incredibly powerful and is core to what it means to be human In particular media amp8212 as both a reflection and driver of culture amp8212 embeds itself into our everyday decision making whether direct or subconsciously The current state of reporting and data on media consumption is still unclear especially when it comes to singleviewer crossplatform data mixed with multiviewer platform data eg traditional television and digital video placebased advertising So we set out to determine if agencies advertisers and consumers were aligned in their emotional investment in media companies They are notIn terms of emotional intensity respondents were presented with 100 media brands and given the option to select amp8220loveamp8221 amp8220likeamp8221 amp8220dislikeamp8221 or amp8220donamp8217t knowamp8221 to signify their feelings on those brands We found numerous differences not only among the three cohorts but also with subsets based on gender age and regionItamp8217s eyeopening that even top media buyers and marketers whose livelihood is predicated on effective and impactful communication with consumers amp8212 and whose charge is advertising and media placement amp8212 rate Netflix as their most loved media brand Not only does Netflix not currently accept advertising but it also has gone out of its way to deny rumors that it will eventually cave and start taking ads In an extremely pointed statement to investors in its Q2 2019 earnings announcement Netflix said amp8220We like HBO are advertisingfree That remains a deep part of our brand proposition When you read speculation that we are moving into selling advertising be confident that this is false We believe we will have a more valuable business in the long term by staying out of competing for ad revenue and instead entirely focusing on competing for viewer satisfactionamp8221There may not be ad placements but there are plenty of marketing opportunities with Netflix The latest season of Stranger Things which launched this past July had several marketing partnerships amp8212 in particular Coca Cola and Baskin Robbins amp8212 that successfully blurred the line between branded entertainment and offline promotion even daring to bring back amp8220New Cokeamp8221 in a hip but ironic fashion so wellsuited to Gen ZSo who ranked Netflix as their most beloved media brand Seventyfour percent of advertisers 56 percent of agency executives and 55 percent of consumers truly love Netflix But Netflix isnamp8217t aloneamp160five of the top 10 mostloved media brands Netflix HBO Hulu Spotify and Amazon Prime Video for agency respondents either have no advertising or limited advertising inventory availableBut Wait Thatamp8217s Not Allamp8230They say that love is blind Perhaps those amorous Netflix fans are too much in love to see the brand for where it could be headed versus where itamp8217s beenNetflix faces major challenges over the next year and beyond The release of several new streaming videoondemand SVOD services eg AppleTV Disney HBOMax NBCU brings Netflix its first real competition aside from Amazon Prime Video As a consequence Netflix has lost or may soon lose some topviewed programming including Star Wars Avengers Friends and The Office Additionally the days of writing blank checks for originals is reportedly coming to an end with Netflixamp8217s head of content looking far more closely at the costeffectiveness of bigbudget productionsDespite all that amp8220The Myers Report Brand Equity Report amp8211 Wave 1 2019amp8221 finds that advertisers agencies and consumers are optimistic about Netflixamp8217s longterm viability A full 95 percent of advertisers 98 percent of agency respondents and 94 percent of consumers agree that Netflix will thrive in the future We look forward to tracking this data over the next few months to see what if any changes occur as SVOD services further proliferatePhoto credit Tyler Nix UnsplashClick the social buttons to share this story with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writers

APPLY FOR JOBS | SUBMIT YOUR RESUME | REGISTER FOR FREE MEDIAVILLAGE CONTENT

What’s Love Got to Do With It?

Author

Publish date

Channel

Jeff Minsky

APPLY FOR JOBS | SUBMIT YOUR RESUME | REGISTER FOR FREE MEDIAVILLAGE CONTENT

What’s Love Got to Do With It?

Enjoying This Commentary? There's More to Love

Jeff Minsky

Cookies