People have thrown out yesterday and have opened their eyes to today' because of the coronavirus

Entrepreneur and advertising mogul Gary Vaynerchuk discusses the shift in landscape in digital media dollars during the coronavirus pandemic. As budgets have been squeezed, creative solutions are sometimes the most practical.

Video Transcript

GARY VAYNERCHUK: So what's actually happened for us is people have thrown out yesterday and have opened their eyes to today, a.k.a. The biggest brands in the world that we work with starting to understand that paying $600,000 for a production to run on television might not be the best use of their money and have leaned into eComm, DTC, and content and media being together in digital channels to drive business results.

And this has been the greatest era of CMOs and real marketing individuals at the highest levels becoming more practical and practitioners. So we're seeing a lot of growth, to be frank. And we're seeing people finally have the aha. You know, I was reading about this on Yahoo or "Wall Street Journal" or "Ad Age," but I never took it seriously because I put yesterday on a pedestal.

And now, I actually see what you meant. I can't believe Facebook ads and creative can drive my business so much. So we're seeing a big sea change in Madison Avenue and even Startup Land, to a degree. And obviously, we're excited about it from our perspective.