B2B, All-Ages Opps: Lego bolsters brand partnerships amid digital spend increase, media review (Score 19)

Sales Lead: Lego has started pursuing and establishing more brand partnerships.

• For example, the company has teamed up with brands such as Star Wars and Formula One.
• Under UK-based CMO Julia Goldin's leadership, Lego works with brands like these on new, often limited-edition product launches.
• The company will likely:
  • Seek additional brand partners
  • Pursue additional female athlete influencer partnerships
  • Continue bolstering efforts to reach more girls
  • Keep increasing digital spend
  • Conclude the ongoing media review soon
  • Conduct additional agency partners once it does so
• Target demographic: 
  • Primary: A very wide target demographic ranging from Gen Alpha through Gen-X consumers
  • Secondary: Business DMs at potential brand partners

Additional spending insights:

• Broadcast insights (TV ad creative spend, effectiveness, impressions, and performance)
  • YTD spend: So far this year, Lego has spent approximately $10.2m on national TV commercials, down % from the approximately $11.6m spent within the same 2022 timeframe.
  • Last year: The company spent around $28.8m on this channel last year and 3% less, around $27.8m, in 2021.around $28.8m on this channel last year and 3% less, around $27.8m, in 2021.
  • 2023 ad programming: Lego's 2023 commercials have targeted kids (and their parents watching with them) watching shows such as SpongeBob SquarePants, The Loud House, The Amazing World of Gumball, Big City Greens, and Teen Titans Go!
• Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
  • YTD spend: The company has allocated roughly $10.8m toward digital ads YTD, up % from the roughly $9.6m allocated by this point last year.
  • YTD data: Since the beginning of 2023, Lego has earned about 1.3b digital impressions via Instagram (42%), Facebook (31%), YouTube (17%), desktop display (7%), and desktop video (3%) ads.
  • Last year: In 2022, the company's estimated full-year spend reached $35.7m, 35% more than that of $26.5m in 2021.
• Additional channel insights  
  • The company utilizes Google Ads along with print, local broadcast, digital, OOH, radio, Facebook, Twitter, and online video (via Youtube.com, Youtube Android, and Youtube IOS) ads.
  • Lego also sponsors podcasts including Hidden Brain and ZM's Fletch, Vaughan & Hayley.

Additional agency insights:

• Opportunity: Reach out soon to participate in Lego's ongoing media review if you haven't yet done so.
  • ​​​​​​​​​​​​​​​​​​​​​​​​The company may conduct additional agency reviews once this one concludes.
  • You may especially benefit from offering multicultural services down the road since Lego no longer seems to work with its former multicultural agency partner, Iyuno.
• Current agency roster:
  • In-House: Creative
  • Initiative: Media AOR
  • Golin: PR AOR
  • Matterkind: Programmatic agency partner
  • R/GA: Digital agency partner
  • Reprise Digital: Digital agency partner

Insight Sources: Broadcast insights estimated by iSpot; digital spend insights estimated by Pathmatics; additional channel insights estimated by Vivvix; podcast insights by Podchaser.