Male Millennial Opps: LG Electronics launches video stories
LG Electronics recently released "The Rivalries," a six-part original TV story that tells the inside stories of head-to-head college games. Created by LG's in-house agency, HS ad, the work launched on March 24 on NCAA Championships Channel, the LG Smart TVs' new, exclusive streaming channel. Sellers able to offer relevant ad space should get in touch soon to secure last-minute ad dollars.
So far this year, iSpot reports LG has allocated roughly $282 on national TV commercials, a huge drop from the roughly $6.5k it had allocated by this point last year. The company ended up allocating roughly $20m on this channel last year, up 20% from the roughly $16.6m it allocated in 2020. LG's 2022 commercials have targeted viewers of MythBusters.
According to Pathmatics, the company has spent approximately $9.7m on digital ads YTD, more than 6x the approximately $1.4m it spent within the same 2021 timeframe. In 2021, LG's estimated full-year spend decreased 12% to $20.7m from that of $23.6m in 2020. Since the beginning of 2022, it has earned around 749.8m digital impressions via YouTube (59%), Instagram (15%), mobile video (11%), Facebook (9%), desktop display (5%) and mobile display (1%) ads.
Additionally, Magellan shows LG has aired 25 podcast ads in 2022.
As you can tell, TV spend is dropping while digital spend rises. This fact, along with LG's reliance on YouTube, Instagram and podcast ads, leads me to believe it's primarily targeting Gen-Z and millennials. This new video series is, of course, designed to appeal to male sports enthusiasts. Per Kantar data, LG also invests in print, OOH, radio and local broadcast.
Agency & martech readers - I see no major signs of upcoming agency reviews, but you may have a shot down the road at project-based work. The company retained PR AOR LG-One, a team made of WPP's Ogilvy and Hill+Knowlton Strategies, in August 2020. PHD became its media AOR in November 2019, Hill Holliday leads creative, and iCrossing handles digital.