CANNES — The large number of media accounts currently up for review comes down largely to issues of pricing, trust and transparency, according to Lou Paskalis, Bank of America’s SVP-Global Media Investment.
“We are in an upheaval we’ve never seen before in this business, and marketers realize they need a new pathway to market, and they’re going to invest their dollars differently,” he says in an interview with Beet.TV recorded at Cannes.
In terms of what’s causing marketers to rethink their media agency relationships on the pricing front, Paskalis observes that brands are now having to invest in bespoke assets to create relevant ads for the likes of Snapchat, Pinterest and Vice News.
“That’s expensive when you think about a creative model,” he says.
In terms of video strategy, Paskalis observes that some marketers are relying less on pre-roll ads in favor of more attention-grabbing formats. There’s also a trend favoring more episodic ads that tell a story so that binge-watchers don’t see the same spot over and over.
“Smarter marketers are actually saying, ‘Can we use interstitial, can we use mid-roll or post-roll to introduce our brand after the story starts to unfold and the audience is engaged,’” he says. “That all of a sudden sounds like a model that we call television advertising, doesn’t it?”