Biden Win guarantees model predictability – with few caveats
While advertising, media, and technology professionals tend to lean to the left than the general public, conservatism is seen as a core virtue by brand decision makers.
In that sense, Joseph R. Biden, as the 46th President of the United States, could be a balm for both ends of the advertising industry's political spectrum. The 2020 presidential election was scheduled shortly before 11:30 a.m. ET when the Associated Press gave Biden Pennsylvania 20 votes, naming him president-elect.
As a deep-seated member of the democratic establishment, Biden has an obvious pull to corporations across the board: unlike the mercury bombastic Donald Trump, the new president has made consensus and consistency a hallmark of his campaign.
Brand leaders value one thing more than shared political sympathies for low taxes and less regulation: they value stability and abhor abrupt changes in politics. Knowing what's coming is more than appreciated by companies, especially big tech gamers who have been preparing for in-depth biden administration for weeks.
Being able to plan ahead and have clear visibility based on the results of the White House and Capitol Hill reduces a major stress point in small and large businesses.
The new normal is a return to the old normal
From a political perspective, a Biden administration appears to be a "return to normal" for the US. On the front line of Congress, the Democratic House of Representatives coupled with a Republican-controlled Senate also offers a semblance of scrutiny and balance that could mitigate any major policy and regulatory changes.
Although Biden's reign will bring Washington, DC back to a more calming level of routine politics, advertisers, agencies, media companies, and ad tech firms will remain in the realm of the unprecedented on many fronts.
Look for more pronounced requirements for a closer look at online privacy protection. The fast approach of the post-cookie future can only accelerate under a new administration.
A lot of pressure is put on social media and content companies to protect themselves from misinformation spread across platforms. Twitter and Facebook have already shown a renewed commitment to flagging unsubstantiated claims, such as flagging Trump's posts for election fraud. At the same time, publishers will be forced to be more creative to find more reliable sources of income as the news cycle cools down a bit and Covid-19 continues to restrict everything from events to travel to in-store purchases and tighten marketing budgets.
As streaming television matures, the competitive pressures increase. As ViacomCBS 'outgoing chief digital officer Marc DeBevoise told Adweek in September, some of its smaller services "will not exist in the long run". The fate of streaming companies in the next year will depend on whether they can continue as independent brands or whether the takeover into a larger corporate unit is the only way to survive. Antitrust issues can also arise in this area.
At the same time, cable and broadcast networks may already be lamenting the huge audience figures being driven by hectic political drama, with election night possibly being a rating platform for news channels.
Ahead of the past
There are two things hanging over all the changes at DC that will not fade with a new political regime: the bitter divisions in a country and a world besieged by an ongoing pandemic, and the risk that climate change will worsen.
Elections and advertising culture can be viewed as two different "time machines". Voters generally tend to get older. Advertising usually focuses on appealing to younger populations.