CEO Ron Johnson Boosts TV Advertising, Adds Former Coca-Cola Marketer Sergio Zyman as an Adviser
sales plummeted 25% in 2012, even as its measured media spending jumped 14% to $504 million.
The beleaguered retailer spent more on advertising than it has in any of the last five years and made major changes to its media mix, under the direction of CEO Ron Johnson. TV advertising climbed, particularly network TV spending, while radio and internet display investments dropped. And despiteMr. Johnson’s declaration late last summer that the retailer would invest heavily in newspapers, spending in that category was down slightly.
JC Penney reported that its fourth-quarter net loss widened to $552 million. The retailer posted an annual net loss of $985 million.
Sales in the fourth quarter, which includes the holiday-shopping period, slid 28% to $3.88 billion. For the year, sales fell 25% to $12.98 billion. That marks the lowest annual revenue the retailer has reported since at least 1987.
“It’s the worst performance that I’ve ever encountered in decades of covering retail — there’s nothing really to compare it against,” said Bernie Sosnick, an analyst at Gilford Securities.
Compared to many TV streaming services, Hulu is a mature technology, created five years ago by some of TV’s biggest players. Now, the New York Times suggests it’s coming of age—and that events this week will see it truly become a network TV challenger.
The Times reports that, this Thursday, Hulu will pitch advertisers on its new, original programming. That might not sound like a big deal, but it is in fact an annual ritual called “upfronts”—usually reserved for cable channels and network broadcasters.
The fact that Hulu is sidling up alongside the big players of the TV world is a huge milestone for online TV. In the same week, Hulu will also announce that it now has more than two million subscribers for its $8-a-month Hulu Plus service.
So, Hulu’s first piece of original programming, Battleground, wasn’t great. And, sure, the firm has to put up with its parental companies feuding most of the time. But that doesn’t seem to matter too much when Hulu is pitching at the same meetings as the biggest national TV providers. [New York Times]
coupon sites: definitely headed upward with a spike in Dec 08.
network TV sites are seeing healthy increases, likely due to “view full episodes” on their websites – but even this increase in traffic will not replace the advertising revenues lost on network television
Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.
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