The corona pandemic has changed a lot of things, but media consumption has not been left behind as advertisers now have to come up with new ways and methods to reach audiences. Reports by Marketing Dive show that advertising costs have dropped after markets were hit hard by the pandemic in the second quarter. It is said that this may remain the same until the end of the year. With many people staying home to stay safe from the corona pandemic, we now have an uptick in TV viewers and streamers. This is now a once in a lifetime opportunity for small businesses to advertise at low budgets.
Streaming platforms like Netflix usually sell ads to big companies at high budgets. With the low budgets coming in, small businesses now get an opportunity to compete with big brands in these advertising platforms. Just recently, Hulu announced that it is going to offer a self-service ad sales platform for small businesses to run ads starting from $500. Advertisers will upload their 15-sec or 30-sec ad video then sit back and relax as they see how their ad is performing. This is different from the TV ads we usually see since advertisers have to use media buyers and advertising agencies to get on TV. Those advertising costs are also very high. Hulu will become the first streaming service to offer a self-service advertising service by launching this program. To learn how to buy an ad on Hulu, you can follow the link here.
Tiktok also announced earlier this month that it will have a self-service advertising tool where it will offer $100 million in ad credits to help small companies recover from the coronavirus pandemic. Currently, streaming viewership is increasing and there are hopes that this self-service advertising program will be successful. The self-service ad service is more flexible in comparison to regular TV ads. For TV ads, advertisers have to wait weeks to get their performance reports.
Even though this is good news for small companies as they can now reach TV audiences, we know that that it will be a challenge competing with big companies when it comes to production value.
Will you check out how to buy a TV ad on Hulu? Let us know your thoughts down in the comments.
This article originally published on GREY Journal.