Connect with us

MARKETING

Cable TV subscriptions set to drop below 50% of all US households

Published

on

Cable TV subscriptions set to drop below 50% of all US households


Fewer than half of all U.S. households will have a cable TV subscription by 2023, according to a new study. The study, by Insider Intelligence, expects the total number of pay TV households to drop to 65.1 million, a 4.8% decrease from 2022. That is 49.5% of all U.S. households.

This continues the cord cutting trend that’s hit cable very hard. From 2016 to 2021, pay TV has lost more than 50 million adult viewers (or 25.5 million households). The most unsettling news for cable companies: The steepest drop came in 2020, when more people than ever were stuck home, which saw a 7.7% drop.

Many people are turning to virtual multichannel video programming distributors (vMVPDs), like Hulu and YouTubeTV. By the end of 2022, 15 million households will subscribe to a vMVPD, up 7.6% from 2021 and representing 11.4% of all US households. That said, this growth will not be enough to offset the decline of pay TV. In 2022, 63.2% of all households will have either pay TV or a vMVPD, but this figure will decline to 54.8% in 2026.

Why we care: Getting your marketing mix right is always a challenge. While TV is still big, it continues to shrink. Further, it’s clear the public is turning away from cable and on-line multi-channel providers. This means fewer chances to get big tent audiences and more emphasis on sharp targeting in other channels.  

Related: How to use QR codes to leverage CTV and cross-channel campaigns


Get the daily newsletter digital marketers rely on.

See also  Twitter's Coming Edit Option Looks Set to Have a Full, Publicly Viewable Edit History Element


About The Author

Constantine von Hoffman is managing editor of MarTech. A veteran journalist, Con has covered business, finance, marketing and tech for CBSNews.com, Brandweek, CMO, and Inc. He has been city editor of the Boston Herald, news producer at NPR, and has written for Harvard Business Review, Boston Magazine, Sierra, and many other publications. He has also been a professional stand-up comedian, given talks at anime and gaming conventions on everything from My Neighbor Totoro to the history of dice and boardgames, and is author of the magical realist novel John Henry the Revelator. He lives in Boston with his wife, Jennifer, and either too many or too few dogs.



Source link

Advertisement

MARKETING

Old Navy to drop NFTs in July 4th promo update

Published

on

Old Navy to drop NFTs in July 4th promo update

Old Navy will update its yearly Fourth of July promotions by saluting the metaverse with an NFT drop, going live June 29.

In honor of the year they were founded, the retailer will release 1,994 common NFTs, each selling for $0.94. The NFTs will feature the iconic Magic the Dog and t include a promo code for customers to claim an Old Navy t-shirt at Old Navy locations or online.

“This launch is Old Navy’s first activation in web3 or with NFTs,” an Old Navy spokesperson told MarTech. “As a brand rooted in democratization and inclusivity, it was essential that we provide access and education for all with the launch of our first NFT collection. We want all our customers, whether they have experience with web3, to be able to learn and participate in this activation.”

Accessible and user-friendly. Any customer can participate by visiting a page off of Old Navy’s home site, where they’ll find step-by-step instructions.

There will also be an auction for a unique one-of-one NFT. All proceeds for the NFT and shirt sales go to Old Navy’s longtime charitable partner, Boys & Girls Clubs of America.

Additionally, 10% of NFT resales on the secondary market will also go to Boys & Girls Clubs.

Support. This activation is supported by Sweet, who’s played a major role in campaigns for other early NFT adopters like Burger King.

Advertisement

The Old Navy NFTs will be minted on the Tezos blockchain, known for its low carbon footprint.

“This is Old Navy’s first time playing in the web3 space, and we are using the launch of our first NFT collection to test and learn,” said Old Navy’s spokesperson. “We’re excited to enable our customers with a new way to engage with our iconic brand and hero offerings and look forward to exploring additional consumer activations in web3 in the future.”

See also  My 6-Step Content Marketing Formula That Drives 3,549 Visitors

Read next: 4 key strategies for NFT brand launches

Why we care. Macy’s also announced an NFT promotion timed to their fireworks show. This one will award one of 10,000 NFTs to those who join their Discord server.

Old Navy, in contrast, is keeping customers closer to their owned channels, and not funneling customers to Discord. Old Navy consumers who don’t have an NFT wallet can sign up through Sweet to purchase and bid on NFTs.

While Macy’s has done previous web3 promotions, this is Old Navy’s first. They’ve aligned a charity partner, brand tradition and concern for the environment with a solid first crack at crypto.


Get the daily newsletter digital marketers rely on.

Advertisement



About The Author

Chris Wood draws on over 15 years of reporting experience as a B2B editor and journalist. At DMN, he served as associate editor, offering original analysis on the evolving marketing tech landscape. He has interviewed leaders in tech and policy, from Canva CEO Melanie Perkins, to former Cisco CEO John Chambers, and Vivek Kundra, appointed by Barack Obama as the country’s first federal CIO. He is especially interested in how new technologies, including voice and blockchain, are disrupting the marketing world as we know it. In 2019, he moderated a panel on “innovation theater” at Fintech Inn, in Vilnius. In addition to his marketing-focused reporting in industry trades like Robotics Trends, Modern Brewery Age and AdNation News, Wood has also written for KIRKUS, and contributes fiction, criticism and poetry to several leading book blogs. He studied English at Fairfield University, and was born in Springfield, Massachusetts. He lives in New York.

Advertisement
See also  Here comes the Android Privacy Sandbox

Source link

Continue Reading

DON'T MISS ANY IMPORTANT NEWS!
Subscribe To our Newsletter
We promise not to spam you. Unsubscribe at any time.
Invalid email address

Trending

en_USEnglish