Philadelphia -- A top Samsung Electronics America Inc. executive pleaded for television networks to drop their advertising rates Tuesday and warned that media buyers will continue to turn to Internet advertising and other new media if the TV business doesn’t change.
“I’m begging you, drop the price of advertising on television. Drop it. You’ve got to help because no one can afford to do it any more, and there are not enough eyeballs on the screen to help us build our business,” Samsung senior vice president Peter Weedfald said during a keynote address at the CTAM Summit here.
Weedfald attributed Samsung’s growth in electronics to delivering consistency and frequency in its media placement, noting that Internet advertising has become a more efficient tool to launch some new products than television advertising.
“I can launch a brand-new product on the Internet in three days,” while it would take three months to place TV ads to debut a new product, Weedfald said.
Echoing comments made one day earlier by Ogilvy & Mather Worldwide CEO Shelly Lazarus, Weedfald said consumers are clearly in charge of the content and products they buy or watch. “It’s the return of the pocket protector. The world is upside down. I’m no longer in command. You’re no longer in command,” Weedfald told executives from MSOs and networks in the audience.
Last year, Samsung partnered with cable MSOs on HDTV-marketing commercials as part of the Cable & Telecommunications Association for Marketing’s recently scrapped “Only Cable Can” campaign.
Weedfald said Samsung would like to work with the cable industry again. “We love the cable industry, and we would love to find bigger and better ways to partner,” he added.