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Millennial, Gen-X Opps: Pfizer taps new CMO amid significant increase in TV spend (Score 57)

Effective September 19, Drew Panayiotou is the new CMO at Pfizer. He will build a new infrastructure, including new engagement channels, tools and digital solutions. Panayiotou will join from Verily, where he spearheads branding, B2B marketing, consumer marketing, corporate communications, digital marketing, marketing operations and content. As Pfizer's new CMO, Panayiotou will implement strategy shifts that could lead to spend increases and/or agency reviews.

So far this year, iSpot reports that the company has spent approximately $100.9m on national TV commercials, more than double the approximately $45m spent in all of 2021. The company spent around $20.3m on this channel in 2020. The company's 2022 commercials have aired during shows such as College Basketball, NFL Football, ABC World News Tonight With Davie Muir, NBC Nightly News With Lester Holt and The Oscars.

According to Pathmatics, Pfizer has allocated roughly $40.2m toward digital ads YTD, down 25% from the roughly $53.6m allocated by this point last year. In 2021, the company's estimated full-year spend jumped 25% to $104.5m from that of $83.3m in 2020. Since the beginning of 2022, Pfizer has earned ~4.9b digital impressions via Facebook (70%), Instagram (10%), desktop video (9%), desktop display (6%), Twitter (3%), mobile video (2%) and mobile display (1%) ads.

As you can tell, the company's national TV spend is increasing rapidly while its digital spend dwindles. This leads me to believe Pfizer is primarily targeting older millennials and Gen-X right now. Per Kantar data, the company also utilizes print, OOH, radio and local broadcast.

Agency & martech readers - CMO hires often lead to agency reviews, so contact soon to be top-of-mind. Pfizer's roster currently includes digital AOR Publicis North America.