All articles tagged with #ad spending
With the presidential election approaching, ad spending reveals key battleground states, with Pennsylvania receiving the most attention. Campaigns have spent $72.1 million on ads since March, with nearly 70% in seven critical states. Democrats are outspending Republicans significantly, with Biden's campaign leading at $34.2 million. Key issues in ads include abortion, immigration, and the economy.
Byron Allen's Allen Media Group lost a $100 million fraud lawsuit against McDonald's, which accused the fast food giant of lying about increasing ad spending with Black-owned media. The court dismissed the suit, stating that McDonald's still has time to fulfill its pledge and that the lawsuit was filed prematurely. Despite this dismissal, a separate racial discrimination lawsuit against McDonald's from Allen Media Group is still ongoing in federal court.
Shares of digital ad company The Trade Desk dropped 19% after the company reported weaker revenue guidance for the fourth quarter. While the company's third-quarter earnings beat expectations, analysts are concerned about softer ad spending in the coming months, particularly in the auto and entertainment industries. The Trade Desk's growth in connected TV, a significant revenue contributor, is also being questioned for its sustainability. However, some analysts see the dip as a buying opportunity, citing the company's strong position in the AdTech industry.
Drugmakers in the U.S. have spent nearly $500 million on advertising for obesity and diabetes treatments during the first seven months of this year, a 20% increase from the same period last year. The surge in ad spending is driven by the popularity of Novo Nordisk's diabetes drug Ozempic and weight loss drug Wegovy, both of which have seen high demand for their ability to aid weight loss. These drugs, along with other GLP-1 treatments, mimic a gut hormone to suppress appetite. The top four advertised drugs were Ozempic, Wegovy, Rybelsus, and Jardiance, accounting for three-quarters of total ad spending.