Facing growing losses, electronic ad-submission service provider AdStar Inc. announced Tuesday it risks possible delisting from Nasdaq after its shareholder equity fell below the minimum listing requirement of $2.5 million. AdStar's shareholder equity stood at $2.08 million as of June 30.
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At first listen, the plan seems borderline delusional. After all, asking buyers and planners to forsake must-buys like The New York Times and Newsday in favor of shopping circulars is the kind of request that gets salespeople escorted out of the building by security guards. But two of Tri- State's marketing minions, advertising director Stacie Boering and media consultant Don Andrews, argue their case persuasively.
The company has unearthed the story of M. W. Heron, a bartender in New Orleans who created Southern Comfort in 1874. Brown-Forman is betting that Heron will help consumers develop a greater connection with the brand. The goal is to parlay consumer interest into an increase in sales and a national campaign for Southern Comfort, which Brown-Forman has brought to television for the first time.
Smokers will still find Winston and Doral cigarettes on store shelves across the country. They just won't be seeing them much anywhere else. As part of a huge effort to cut costs that includes the layoffs of 2,600 workers, R. J. Reynolds Tobacco Holdings said yesterday that it would jettison advertising and promotion efforts for the once-popular brands.
Audience fragmentation is among the most significant challenges faced by the advertising industry, according to a just released American Advertising Federation survey of advertising leaders. Four out of five of those polled, or 80 percent, claim increasing audience fragmentation represents a significant change within the ad industry and 77 percent believe this fragmentation will continue to exert significant impact in the future.
Borders Group has named Crispin Porter & Bogusky, Los Angeles, its agency for an estimated $15 million creative and media planning and buying account.
The radio industry is slowly coming out of the slump that has plagued the medium for most of the first half of the year. According to figures released Monday by the Radio Advertising Bureau, radio advertising rose 3 percent in July, with national continuing to lead the way with a 12 percent gain. Local advertising, which accounts for 80 percent of all radio revenue, was flat for the month.
American kids, teenagers, and young adults, aged 8 to 21 years, have annual incomes totaling $211 billion, according to latest projections based on the findings of Harris Interactive YouthPulse, an online study of the Generation Y population. Results show that this group is spending at a rate of approximately $172 billion per year and is saving at a rate of $39 billion per year.
Citing weak job growth and economic risks including war, terrorism, and rising federal and private debt, newspaper economist and consultant Miles E. Groves lowered his forecast for 2003 newspaper ad spending but raised his outlook for 2004.
