The Remnant Agency: We Are Reporting the Lowest Advertising Rates of The Decade

Have you been considering buying paid media spots for your business? If so, now is the time to buy. The Remnant Agency is seeing the lowest advertising rates in nearly ten years, and we are encouraging our clients to take action now! 

We have all been glued to the media for updates as the COVID-19 pandemic continues to impact seemingly every part of everyday life. For some people, local television and radio stations have been a lifeline, particularly those who are elderly or who do not have home access to the internet. Local media has been their only reliable source of information on the virus. This means that viewing of the news has increased greatly.

Despite this spike in viewership, television stations have been experiencing a financial loss, because many advertising spots have been going unsold. Variety reported in an article on March 6, 2020, that advertising revenue for television, radio, and print could fall by as much as 12% this year.

This provides you, as a business owner, with the opportunity to purchase advertising spots at significantly lower rates than possible in recent years. If you’re considering advertising your products or services for the first time, or if you’d like to increase your current spend, now is the time to do so. 

Viewing Statistics During the Time of Coronavirus

The Wall Street Journal recently reported that large media group Meredith Corp has seen a 30% surge in viewing of the morning and evening news since the onset of the virus. Nexstar, owner of 196 stations across the U.S., has also seen a 35% increase. 

These are significant numbers!

Sudden surges of viewership in local TV are common during a time of national upheaval or natural disaster, and as the coronavirus affects the whole world, the upsurge in viewership is correspondingly large.

So, what does this mean for your advertising budget?

Why Are So Many Unsold Advertising Slots Available?

Many companies who would normally purchase advertising have been making significant cutbacks. With cashflow drying up for many businesses, marketing is often one of the first areas to experience cuts. It is seen as speculative spending, investing in the potential for future business and, in times as tumultuous as these, future business can seem very uncertain.

Consumers have also stopped buying many of the products that often fill key slots, such as cars or big-ticket, relatively luxurious items like travel. Even general retail spending has taken a hit, as Americans conserve their money for the necessities.

The cancellation of sporting events has also, of course, had a sizable impact. Many big-ticket advertising slots are sold during the airing of high-profile sporting events, and the replays of past games that many stations are running just don't have the same viewership. The postponement of the 2020 Olympics, in particular, means that a vast audience has been lost. The Olympics are one of the most-watched world events, and even people who don’t regularly watch sports will tune in for them. 

Many political primaries have also been postponed because of the virus and so much political advertising, another important advertising source, has been pulled.

An Opportunity to Grow

Because of all this, television and radio stations are selling key advertising slots at much lower prices than normal at a time when viewership is significantly up.

This is an unusual opportunity for companies who would not normally be able to choose these key slots. You can purchase prime time advertising that’s reaching an even greater number of viewers than usual at a fraction of the cost.

No one can predict with complete accuracy how long the coronavirus crisis will last, nor how long it will take for the economy to return to normal. Usually, there will be increased demand for advertising services once a crisis like this passes. 

Until then, all that unsold advertising is just sitting there. TV and radio stations are looking for companies to buy this unused inventory. Some spots may be given as ‘gifts’ to clients with whom the station has an existing relationship, but many of them still need to be sold. Before that increased demand surges and prices rise again, now is the perfect time for companies looking to grow their reach to take advantage of these high-profile spots.

Contact the Remnant Agency 

Media companies have partnered with The Remnant Agency to move these unsold spots. For businesses looking to focus on smart, high-impact advertising, this is an unprecedented opportunity to vastly increase the reach of your marketing dollars. Contact The Remnant Agency’s team of marketing experts to plan your strategy.