Last year saw crypto firms taking positive marketing messages to the next level, with shiny Super Bowl ads and celebrity-inked TV commercials.
But crypto firms’ marketing madness seems to have faded. In fact, a whole lot of these companies seem to be spending a whole lot less on advertising this year.
Marketing spend on sites like Facebook and YouTube is down at least 90% compared to earlier this year, according to market researcher Sensor Tower.
Meanwhile, in terms of TV ad spend, CoinDesk, CoinFlip, Crypto.com, eToro, FTX, Gemini, and Grayscale went from a monthly total of $85 million in February to $36,000 in July, according to data from ISpot.
The drastic drop in spending isn’t out of the blue. It seems to be largely linked with crypto’s recent bumps putting a damper on the party.
This content is available exclusively to Tearsheet Outlier members.
Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — only $49/mo. Already an Outlier member? Sign in to your account