Fox Is Selling New 6-Second Ads for up to $75,000 Each During This Big Teen Event
Twenty-First Century Fox Inc (FOX) - Get Report will offer six-second ad units during the August 13 Fox Network's Teen Choice Awards for as much as $75,000 a pop, the Wall Street Journal reported.
The new digital and television ads are priced at a "premium" and will air during the live broadcast an on-demand streams. Fox is reducing the number of commercial breaks in the show, turning to a quick hit ad format pioneered by Alphabet's (GOOGL) - Get Report YouTube.
Viewership for the Teen Choice Awards dipped 30% last year compared to 2015, Variety reported. But advertisers including Berkshire Hathaway-owned (BRK.A) - Get Report (BRK.B) - Get Report Duracell and Mars Wrigley Confectionery have already dropped big bucks for the new ad format.
Mars said it wants to appeal to younger consumers in "shorter pods that may reduce channel surfing." Ad buyers also said there's novelty and hype associated with trying a new ad format.
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