According to Ad Age the U.S. brewing giants Anhauser Busch (owners of the Budweiser brand) and Miller have dropper their ad spending by $131 million (US) but at the same time they moved more brewskis by 2%.
I don't find that result especially surprising. Though I confess I hadn't seen the term 'Measured Media' used before. In this context the brewers say they are actually spending more but on local events and bar promotions. But the numbers don't seem to stack up.
It does reinforce (in a high profile category) that ad agencies need to think carefully about how they will earn their fees in the future.
Ad Age article
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