IPG Mediabrands Unveils Industry-First Equity Upfront™ to Raise Visibility and Receptivity of Black-Owned Media Businesses

The weeklong event will highlight Black-owned and targeted media businesses across all platforms to create opportunity for equity and economic progress

NEW YORK–(BUSINESS WIRE)–IPG Mediabrands today announced it is introducing a first-of-its-kind Equity Upfront™, an annual weeklong event during the week of March 15th, to raise visibility and receptivity of Black-owned and targeted media businesses. Led by Mediabrands entity MAGNA, the leading global media investment and intelligence company, the Equity Upfront™ will highlight entities across all media (i.e., linear, video/streaming, digital, radio and print). Among the confirmed media partners are Allen Media Group/Entertainment Studios, BET Network, Essence Communications and Urban One. Confirmed Mediabrands clients participating include American Express, BMW, CVS Health/Aetna, Johnson & Johnson, to name a few.

“As we reviewed our media partnerships at Mediabrands, we saw the need to be more inclusive in our media investment strategies with Black audiences,” said Daryl Lee, Mediabrands Global CEO. “The Equity Upfront™ is an opportunity to enact real change by increasing investment in often underrepresented media businesses that reflect the significant influence of Black consumers and trendsetters in the economy.”

MAGNA and Mediabrands used an equity and equality strategic investment (EESI) approach designed to measure and increase sustained investment and support of Black-owned and targeted media businesses.

“Our mission with the Equity Upfront™ is to move beyond intent and into actionable steps with minority and Black media partnerships,” said Dani Benowitz, President, U.S., MAGNA. “The minority consumer’s consumption patterns are influential across all media and we must take accountable steps forward to address the inequities in how we invest. I have no doubt this critical initiative will urge other industry partners to see where there are gaps in their media approach and how they’re contributing to BIPOC media partner oversight.”

“I am thrilled to be a part of an effort that is increasing sustained investment and support of Black-owned and targeted media businesses,” said Joy Profet, EVP, Head of Growth & Operations, MAGNA. “I have a passion for creating opportunity for audiences of color growing in influence, and I look forward to partnering with our media partners to help level the playing field for clients to access their audiences.”

While the inaugural 2021 Equity Upfront™ will focus on partnerships with Black-owned and targeted media businesses, Mediabrands will expand partnership efforts with other multicultural platforms including but not limited to the Latinx, Asian and LGBTQIA+ audiences.

ABOUT MEDIABRANDS:

IPG Mediabrands is the media and marketing solutions division of Interpublic Group (NYSE: IPG). Mediabrands manages approximately $40 billion in marketing investment globally on behalf of its clients and provides strategic services and solutions across its award-winning, full-service agency networks UM and Initiative, and through its innovative marketing specialist companies Reprise, Magna, Orion, Rapport, Healix, Mediabrands Content Studio and the IPG Media Lab. Mediabrands’ clients include many of the world’s most recognizable and iconic brands from a broad portfolio of industry sectors. The company employs more than 13,000 marketing experts in more than 130 countries, representing the full diversity of humanity. For more information, please visit our website: www.ipgmediabrands.com and be sure to follow us on LinkedIn, Twitter or Instagram.

ABOUT MAGNA:

MAGNA is the leading global media investment and intelligence company. Our trusted insights, proprietary trials offerings, industry-leading negotiation and unparalleled consultative solutions deliver actionable marketplace advantage for our clients and subscribers.

We are a team of experts driven by results, integrity and inquisitiveness. We operate across five key competencies, supporting clients and cross-functional teams through partnership, education, accountability, connectivity and enablement, also known as “PEACE.” For more information, please visit our website: https://magnaglobal.com/ and follow us on LinkedIn and Twitter

PRESS CONTACT:
Rahel Rasu
Global Chief Communications Officer, Mediabrands
[email protected]

Interpublic Group Plans Upfront Sessions for Media Focused on Black Consumers

By Brien Steinberg, Published by Variety

TV companies have found a way to get an early crack at Madison Avenue billions. Now one of the nation’s biggest media buyers hopes to do the same for media businesses focused on Black consumers.

Each Spring, the nation’s biggest TV companies work for millions of dollars as part of a process known as the “upfront.” Now, Interpublic Group’s large IPG Mediabrands unit will during the week of March 15 kick off what it calls an “Equity Upfront” — a different version of the big sales sessions that help set up advance ad deals for TV and digital media — that seeks to match Black-owned media as well as media outlets that aim for Black audiences with some of the company’s clients.

The big ad-buying operation, which manages some $40 billion in ad spending around the world, will bring together more than 20 media companies such as Entertainment Studios’ The Grio, ViacomCBS’ BET, Essence Communications and Urban One with advertisers that include Aetna/CVS, American Express, Johnson & Johnson and BMW.

“This is the first of its kind, but it is definitely not meant to be a one-off event,” says Joy Profet, executive vice president and chief growth officer of Magna, Mediabrands’ media-intelligence unit, in an interview. “There is the expectation this will grow into an industry standard,” and plans are in development to spur discussions between advertisers and Latino, Asian and LGTBQ+ media as well.

Media outlets focused on Black audiences typically have not gotten the largest share of Madison Avenue’s purse. BET, for example, took in an estimated $203 million in 2020, according to Kagan, a market-research firm that is part of S&P Global Market Intelligence. Urban One’s TV One won around $70 million. CNN, meanwhile, secured $715.4 million.

To be certain, the outlets focused on such audiences are smaller than their general-market counterparts. But some big advertisers have shown definite interest in reaching Black consumers. In 2018, consumer-products giant Procter & Gamble struck a pact with ABC that made it part of the central storyline in an episode of the comedy “Black-ish.” P&G has over the years devised other initiatives aimed directly at Black consumers.

The “Equity Upfront” will take place just as many TV and digital outlets start making outreach to advertisers as part of a decades-old cycle that gives them price incentives to buy commercial inventory several months in advance of when they might need it. Over the years, others have tried to emulate the idea. A host of large digital companies take part in a series of presentations known as “NewFronts” each year. In 1999, Hearst’s “O: The Oprah Magazine” held an “upfront” in a bid to get marketers to consider running ads in the periodical’s pages before it launched in 2000.

Executives at IPG Mediabrands were spurred to consider the idea after examining both consumer data as well as last year’s protests around the death of George Floyd while in custody of police in Minneapolis. “We definitely wanted to make ourselves more accountable, make sure our clients truly recognized the importance of this audience,” says Dani Benowitz, U.S. president of Magna, in an interview.

Madison Avenue’s treatment of minorities has come under scrutiny multiple times in the past, with advocacy groups and others scrutinizing the number of people of color employed by major ad agencies. This has surfaced even though many advertising executives acknowledge the growing influence of those very same groups of consumers.

According to Mediabrands research, Black consumers wield $1.4 trillion in spending. And yet, says Profet, more than half don’t feel represented when they see many mainstream commercials. ”We know that when brands represent them from a cultural perspective or an identity perspective, this audience will respond,” she says.

Because some of these media outlets are often smaller, they don’t always get consideration from large media buyers. This event may help to change that. “They don’t necessarily have the scale that others do to get access to our clients,” says Benowitz. “This is going to help them put together better opportunities.”

Executives hope to hold monthly sessions, and, over time, expand their efforts. There are even some hopes that some of Mediabrands’ competitors might join. “It is a long-term initiative for us,” says Profet.

Read the article in Variety

Does every second *really* count?

Snapchat partnered with MAGNA and the IPG Media Lab on a joint research study to dispel the myth that 6-second ads aren’t as effective as traditional 15-second spots.
The research1 showed that on Snapchat, shorter ads persuaded more consumers to consider purchasing the products featured in the commercials compared to 15-second ads. We wanted to highlight key learnings from this research as well as offer additional best practices for how advertisers can plan their video buys on Snap.
To evaluate video performance across devices, platforms and ad lengths, MAGNA leveraged a digital-laboratory-based experimental design. They recruited over 7,770 participants from a representative panel on both PC and mobile devices. Panelists’ media habits were evaluated to assign them to a platform: either Snapchat, a video aggregator, or a full-episode player (FEP). Participants were asked to select content to watch during a controlled experience that looked like the real thing while ads were served during the standard intervals in which they would typically appear native to that platform. However, MAGNA was able to control which ads were served to ensure proper randomization and allow for the same brands and creatives to be tested across platforms. All behaviors were tracked and, after the media experience, participants were asked to complete an online survey measuring branding metrics including ad awareness, brand perception, and purchase intent. A diverse group of brands from varying industries with different target audiences were included in this experiment: MINI, Clinique, LEGO, and a major CPG brand.

Regardless of length, full-screen vertical ads on Snapchat drove more than 2x the lift in awareness than other platforms tested.

On Snap, 6-second ads were more persuasive than 15-second ads for both younger and older generations.

This is because shorter ad lengths recorded highly positive perceptions that were equal among both younger and older generations. When 6-second ads were viewed on Snap, the majority of participants considered the ads immersive, innovative, and represented the brand well.

Interestingly, younger people are LESS likely to feel that 15-second ads are “innovative” and “offer new info.”

Shorter-length Snapchat ads were also more persuasive than either lengths tested on other platforms.

15-second ads are still valuable — they increase awareness of new products.
We found that of the ads tested, the ads that marketed a new product saw longer lengths provided greater efficacy on Snapchat. Therefore, new product launches should be a time to consider Extended Play Commercials in your media mix.
Lastly, we wanted to gauge the incrementality we could offer by developing creative custom for Snap, rather than cutting down from longer-length assets.
What we discovered is that creative significantly embodies Snapchat’s creative best practices. Cut-downs and customized creative performed similarly and, when we looked at persuasion across all ads tested, the delta was consistent for the two separate creative executions.

Takeaways for Advertisers

  • Plan for objectives — not length Length is not a predictor of ad efficacy. Instead, consider differences among devices and media channels as a way to optimize media budgets and still achieve your objectives. Snapchat was shown to be more effective at improving both awareness and purchase intent than the OLV platforms tested. Leverage campaign measurement to align on which media channels and selections are able to achieve your specific objectives.
  • Activate commercials on Snapchat to drive persuasion  Regardless of age, 6-second ads were shown to be persuasive on Snapchat.
  • When introducing new products, consider Extended Play Commercials on Snapchat. 
  • Custom creative isn’t necessary, as long as creatives incorporate Snap’s best practices.
    Read the full report
    Download the planning handbook

NEW STUDY BY MAGNA AND IPG MEDIA LAB REVEALS PLANNED SEQUENCING OF VIDEO AD LENGTHS CAN DRIVE 2X HIGHER PURCHASE INTENT

Study Highlights Best Uses of Ad Sequencing to Drive Brand KPIs and Save Impressions

 

NEW YORK – February 27, 2021 – Marketers have long created multiple video ad lengths but with more innovative technology, we now have the ability to deliver those ads in a desired sequence. A new study by MAGNA and IPG Media Lab, “Ad Sequencing: From Exposure to Storytelling,” uncovers the key to determining the desired ad sequencing brands should use to make a good first impression and convert customers fast. The study explores the impact of ad sequencing and finds the key to a successful brand story when delivering more complex messaging is to make the most of the first impression by communicating more up front. The study also found that using short ads as a primer for creative that’s not complex (e.g. brand imagery-focused) and maximizing variation in ad lengths across exposures is key to a successful marketing strategy.

The study tested video ad lengths, sequence of ad lengths, frequency of exposure and focused on three brands spanning Apparel, Auto and Consumer Electronics. In total, 201 ad scenarios were tested. Experimental design was used by randomizing YouTube users into test and control groups, with ad exposures taking place over the course of 5 days.

“Being thoughtful about the sequence brand messages are delivered in can not only amplify the impact on important brand metrics, but also allows advertisers to achieve more with fewer impressions,” said Kara Manatt, SVP, Intelligence Solutions, MAGNA. “To plan appropriately, we realized that the complexity of the message plays a key role, and that when in doubt, maximize the variation in ad lengths across exposures”.

Additional key findings of the study include:

  • Sequence Matters. Serving video ads in the best order for a given campaign can result in 2X the impact on purchase intent. The particular sequence that works best for each campaign is ultimately driven by the complexity of the messaging and not by the consideration level of the industry vertical.
  • Messaging Content Matters. Ads with complex messaging, for both low and high consideration categories, should make the most of the first impression by communicating more information in this crucial touchpoint. When messaging is less complex and instead focused on imagery, on the other hand, using short ads to prime audiences work best.
  • Ad Sequencing Curbs Ad Skipping. Ad skipping, which is often seen as an ingrained behavior by consumers, can be curbed by a more effective sequence of ad exposures.
  • Less is More with the Right Sequence. For many traditional brand KPIs, brands were able to achieve the same brand lift with fewer exposures by starting off with the right sequence.

 

Read the U.S. report

Read the Australian report

 

 

About MAGNA

MAGNA is the centralized IPG Mediabrands resource that provides strategic investment and media intelligence for agency teams and clients. We utilize our insights, forecasts and strategic relationships to provide clients with a competitive marketplace advantage.

MAGNA harnesses the aggregate power of all IPG media investments to develop go-to-market strategies, designing unique partnerships to drive maximum value for our clients. MAGNA has set the industry standard for more than 60 years by predicting the future of media value. We publish more than 40 annual reports on audience trends, media spend and market demand as well as ad effectiveness.

MAGNA infuses the organization with knowledge that empowers better decision-making. We are a team of experts across five key competencies who support IPG cross-functional teams through: Partnership, Enablement, Accountability and Connectivity. Follow us on Twitter @MAGNAGLOBAL.

 

About IPG Media Lab

Part of the Interpublic network, the IPG Media Lab identifies and researches innovations and trends that will change the media landscape and how brands engage with their audiences. Since 2006, the Lab has worked with our clients and with industry partners who can help them best adapt to disruptive change. Its expertise, resources and consulting services also help to inform the learnings, strategies and business outcomes of all Interpublic agencies. For more information, please visit www.ipglab.com or follow @ipglab.

 

 

Media Contact:

Zinnia Gill

Mediabrands

Director, Global Corporate Communications

(646) 965-4271

[email protected]