March 4, 2009
The banking industry increased ad buys during televised sports events by 36% in 2008, despite an overall 10% cut on all TV buys, according to an analysis by The Nielsen Company.
Banks spent $122 million – or 18.7% of all its TV ad dollars – on sports event programming in 2008. In 2007, the banking industry spent $90 million on sports broadcasts, or 12.5% of the industry’s total TV ad expenditures
“In today’s market, the banking industry is wise to target its ads to sports audiences,” said Tom Ziangas, SVP for Nielsen Sports. “Not only do live sports provide a more engaged audience that is less likely to skip commercials, but also our data shows that sports were viewed more than any other genre in households with incomes over $125,000.”
| RANK | NAME | 2008 SPORTS TV $$$ | 2007 SPORTS TV $$$ | % CHANGE |
|---|---|---|---|---|
| 1 | BANK OF AMERICA CORP | $43,858,273 | $21,138,201 | 107% |
| 2 | ROYAL BANK OF SCOTLAND GROUP PLC | $11,272,773 | $4,613,751 | 144% |
| 3 | CHARLES SCHWAB CORP | $8,165,118 | $3,279,248 | 149% |
| 4 | JPMORGAN CHASE & CO | $8,086,165 | $9,926,713 | -19% |
| 5 | WELLS FARGO & CO | $7,873,821 | $12,741,595 | -38% |
| TOTAL BANKS | $122,328,819 | $90,097,831 | 36% | |
| source: The Nielsen Company 2009 | ||||
The biggest sports ad buyer among banks in 2008 was Bank of America. BoA more than doubled its sports ad buy from $21 million in 2007 to $44 million in 2008. Almost one-third of the bank’s TV ad dollars went toward sports event broadcasts.
The Royal Bank of Scotland had the second-most sports expenditures among banks with a spend of $11.3 million. That’s 140% more than RBS spent on sports in 2007, even though the company’s overall TV ad spend stayed relatively flat.
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Tags: advertising, Bank of America, Banking industry, Nielsen Sports, Royal Bank of Scotland, sports programming, Tom Ziangas
