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Best Buy Upping TV Budget

  • Ad Age, Monday, September 27, 2010 11:15 PM
Best Buy is shifting millions into TV -- in a move that not only goes against the grain but is notable, given Best Buy's aggressiveness in digital and social media. The consumer electronics giant wouldn't give exact figures, but it is increasing its spending by a low double-digit percentage. In 2009, it spent $150 million on TV advertising, according to Kantar; network TV ads accounted for $65 million of that figure. To free up funds for TV, the retailer is pulling money away from inserts and trimming distribution in parts of the country where newspaper readership has suffered.

In bulking up on TV, Best Buy is bucking a trend. According to Ad Age's Leading National Advertisers report, spending by all U.S. advertisers on network TV fell 7% in 2009, while spending for spot TV, syndicated TV and cable TV was also down. Free-standing inserts saw a 3% increase between 2008 and 2009 while internet spending, the only other media category to see an increase, rose 7%.



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