While the use of cryptocurrency in media-buying gets a lot of discussion, it is getting little uptake from the demand-side. A survey of ad executives conducted by Advertiser Perceptions for Research Intelligencer in July finds more than two-thirds aren't even considering it.
The survey also found that Facebook's plans to launch Libra, a digital currency that would enable frictionless payments has done little to impact the ad industry's perceptions on crypto's role in advertising.
Sixty-eight percent of advertisers and agencies said the launch of Libra will have no effect on their plans, while 6% said it would actually make them "less interested" in utilizing cryptocurrency.
In its recent quarterly earnings report, Facebook told investors it may not launch Libra due to opposition from governments.
Interestingly, marketers appear slightly more receptive to the use of crypto than agency executives.
Overall, 20% of ad execs said they have or currently utilize cryptocurrency to buy media, while 10% said they are considering it.