Gary Vaynerchuk, CEO of VaynerMedia, dismissed traditional television commercials as ‘horseshit’ during a speech at the Rise tech conference in Hong Kong. Vaynerchuk argued that businesses are wasting money on TV advertising, which he believes is less effective than digital advertising. He suggested that the advertising industry is reluctant to admit this due to vested interests. He also pointed out that the cost of advertising on platforms like Facebook and Instagram is significantly lower than TV advertising. Vaynerchuk noted that the metrics used to measure the success of TV advertising are flawed, as they often fail to accurately track viewer engagement. He further criticised the lack of transparency in the industry, claiming that many businesses are unaware of how their advertising budget is spent. He concluded by urging businesses to embrace digital advertising and to demand greater transparency from the industry.
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