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(NYSE: MSFT) Business Insider reports that it will stop its TV commercials. Depending on the risk, the company may stop airing its ads to save money as house costs fall.
The agency noted three anonymous sources within the company who said Microsoft would stop broadcasting ads. The report follows a report by Variety News Agency stating that the company did not buy pre-broadcast commercial time, i.e. before the commercial itself aired.
“We have no information to add,” Microsoft sources told Browns.
A source close to the company said that the company had cut advertising costs as a result of rising interest rates in the country and damaging the supply chain to avoid the need to lay off workers.
Microsoft has reportedly told TV broadcasters that it will not be attending pre-commercial ad-buying events, and Variety says it’s a time when TV broadcasters and commercial broadcasters are bargaining over ad types and prices.
In 2021, Microsoft invested approximately $ 294.8 million in TV advertising. Microsoft subsidiaries such as Xbox, for example, will continue to be advertised on TV by the IPG agency that previously represented it.
Shares of Microsoft fell 3.7 percent at the time of writing, according to the Nasdaq index, while losing 3.1 percent. Compared to the previous month. (For review)
This fact indicates to investors how the US Federal Reserve is likely to remain aggressive and raise interest rates to cool inflation.
Microsoft is the latest in a series of technology giants that will slow down employee employment in 2022 due to financial uncertainty. The recession in the company’s jobs is expected to mainly affect the Windows, Office and Teams teams. In addition, the company downgraded in early June Financial forecasts for the second quarter report.
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