The 10% Economy
This week, Kate and Jeff tackle the latest in advertising and media, from the challenges of tracking sports sponsorships to the shifting dynamics of CPG spending. They discuss how top earners are driving nearly half of U.S. consumer spending, the growing importance of streaming ad revenue, and why content budgets are skyrocketing. Plus, what does Walmart’s dominance mean for big brands? Dive into the data and trends shaping the industry.5 Key Takeaways: Sponsorship Challenges: Sports sponsorships are becoming more critical as traditional ad reach declines, but reliable data on sponsorship deals remains elusive. CPG Spending Trends: Personal care brands are increasing ad spend faster than food and beverage companies, with a focus on premiumization and value-based strategies. The 10% Economy: The top 10% of earners now drive nearly 50% of U.S. consumer spending, reshaping retail and advertising strategies. Streaming Growth: Platforms like Paramount+ and Max report strong subscriber growth and narrowing losses, with streaming ad revenue rising significantly. Content Budgets Soar: Media giants like Comcast and Disney lead in content spending, while Warner Bros. Discovery shifts focus to leveraging its IP catalog over acquiring costly sports rights.Some links: GroupM's This Year Next Year 2024 End of Year Report: https://www.groupm.com/this-year-next-year-2024-global-end-of-year-forecast/ Thanks for tuning in! If you enjoyed this episode, don’t forget to hit the follow button, and rate us on your favorite podcast platform. And we’d love to hear from you—drop a comment or share your thoughts with us on LinkedIn.