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Q1 2021 Fitness Opps: Noom taps new marketing DMs amid significant ad spend increases (Score 59)

Weight management app Noom appointed some new (noo-m?) personnel over the past several months with the appointments of communications VP Emma Frane (August), customer engagement director Lunell Troy (November) and international brand marketing head Mark Chiarcossi (October). Noom obviously has enough in its marketing budget to add significantly to its team, signaling that continued higher ad spend is also looming (nooming?) in the near future.

We expect the company's spend to spike in Q1 during peak weight-loss season.

According to iSpot, Noom's national TV commercials of 2020 targeted millennials and Gen-X viewing programs such as Forensic Files, Law & Order, Law & Order: Criminal Intent, The Andy Griffith Show and Blue Bloods. YTD spend of approximately $72.9m reflects a 67% increase from the approximately $43.7m spent by this point last year; the company's full 2019 spend similarly jumped to $49.5m from $10.7m in 2018.

So far this year, Pathmatics estimates Noom generated 4b digital impressions via desktop video (73%), Instagram (14%), Facebook (11%) and desktop display (1%) ads. 98% of desktop display ads were placed site direct onto destinations such as youtube.com, msn.com, cnet.com, refinery29.com and hulu.com. YTD spend of around $51.9m is up more than 4x from the roughly $12.3m spent within the same 2019 timeframe. Noom allocated $13.5m toward this channel in 2019, more than double the $4.9m allocated in 2018.

Additionally, Magellan reports Noom aired 496 podcast ads within the past year.

These sharp increases should continue under the company's new marketing personnel. Its national TV commercials target millennials and Gen-X; however, its increased digital ad spend and usage of paid social, OTT (remember its hulu.com targeting) and podcast ads signal it's also targeting Gen-Z. As I briefly mentioned, earlier, we expect Noom's ad spend to spike in peak weight-loss season, Q1 2021. Its main competitors include WW and MyFitnessPal.

Agency & martech readers - The company becomes more likely to select new agency partners with these hires; reach out soon to remain top-of-mind. Winmo states Macias handles PR duties.