Advertisers unsure about Fox Business Network

Matthew Schwartz of BtoB Magazine writes that some advertisers are unsure whether they will buy time on the new Fox Business Network, which launches next Monday.

Schwartz wrote, “Shari Cohen, co-president of national broadcast at media buyer MindShare North America, has been quick to consider Fox Business Network, which following months of buildup will debut on cable TV Oct. 15.

“‘We have been trying to be preemptive in figuring out the best way to get in on the ground floor,’ said Cohen, adding that MindShare is having ‘active conversations’ with Fox Business about how her client, Ameriprise Financial, can use the network as a marketing vehicle.

“Cohen expects Fox Business to price its ad rates aggressively from the get-go. ‘I don’t think they’re going to give the store away, but you have to compel people to buy something without a proven track record,’ she said.

“Guy Rancourt, VP-associate media director at ad agency Hill|Holiday, whose clients include John Hancock Insurance and Financial Services and Liberty Mutual Insurance Co., is taking more of a wait-and-see approach to the new network. ‘I don’t think our clients will immediately jump on it,’ he said. ‘But if it gets traction and proves itself as a legitimate player, we would consider [ad buys on the network].'”

Read more here.