Good morning. It’s the final day of Advertising Week, so let’s make it count. Tweet the official hashtag with reckless abandon! Load up on ad tech swag! Photobomb 2 Chainz at the wrap-up party! But before you go wild, read this bumper version of the CMO Today newsletter.
Rokuuu Are You, Roku-ooh, ooh-ooh
Roku raised $219 million in its initial public offering late Wednesday, valuing the maker of streaming devices and software at around $1.3 billion. Roku’s IPO, which priced at the high end of its expected range, comes as shares of cable providers and entertainment companies are on pace for their worst monthly performance in nearly two years, The Wall Street Journal reports. Companies in the space have been disrupted by cord-cutting, hurricanes leading to outages and declines in ratings for previously reliable staples like the NFL. Those issues are great talking points for Roku to pitch investors on its opportunity to capture the new generation of viewers who are increasingly choosing to watch what they want when they want. But Roku, too, is an advertising business, so it will also face comparisons with the likes of Facebook, Amazon, et al., which may be a more difficult sell.
I’m Only Streaming
If you’re not heading over to one of the Advertising Week closing parties this evening, how about watching the Bears take on the Packers? It’s the debut game on Amazon Prime, and marketers will be watching closely to see what the benefits are of buying an ad for a streamed football game versus linear TV. Brands advertising during tonight’s game include Under Armour, Pepsi and Gillette, according to Variety, and Amazon was reportedly looking to charge up to $2.8 million for ad packages that included 30-second spots during games, Reuters reported. The e-commerce site has been pitching marketers on its ability to connect whether people who watched an ad then went on to buy the brand’s products on Amazon afterward, which is a fairly compelling attribution offering. It’ll also be interesting to see: 1) How Amazon’s audience compares with CBS, which is also broadcasting tonight’s game and 2) Whether the escalating national anthem protests will lead viewers to switch off altogether.
The Last of the Famous International Playboys
Hugh Hefner, the legendary founder of…