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<ul class="summary-list"><li>The <keyword id="6354692" type="UNKNOWN" weightage="60" keywordseo="Travel">travel</keyword> industry has been decimated by safety concerns amid the <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> pandemic, as consumers stay put at home.</li><li><keyword id="4870161" type="PERSON" weightage="60" keywordseo="glenn-fogel">Glenn Fogel</keyword>, CEO of <keyword id="6357438" type="UNKNOWN" weightage="60" keywordseo="Booking-Holdings">Booking Holdings</keyword>, said comparing the COVID-19 with the industry's struggles post-9/11 is a "good analogy." </li><li>He believes that new safety protocols being put in place today will eventually lead to a rebirth of travel over time, like it did after 9/11. </li></ul><p>The travel industry has been battered by the coronavirus pandemic. Even as stay-at-home orders are lifted, travel activity remains at depressed levels with people continuing to worry about safety and opting to stay put.</p><p>In August, Booking Holdings — which owns Kayak, Booking.com, Priceline, Rentalcars.com, OpenTable, and Agoda — <a href="https://www.businessinsider.com/booking-holdings-ceo-travel-wont-be-back-until-a-vaccine-available-2020-8">reported</a> that gross bookings fell by 91% in the second quarter. Revenue additionally fell 84% from the same period last year to $630 million. </p><p>Glenn Fogel, the company's CEO, has worked at Booking Holdings in various capacities for almost 21 years.</p><p>In a <a href="https://www.businessinsider.com/booking-holdings-ceo-airbnb-pandemic-travel-future-2020-9">recent interview with Business Insider</a>, he said looking at how travel fared after the terrorist attacks of September 11, 2001 is "a good analogy for today." </p><p>"Each crisis, when you're in the middle of it, you're at first afraid that travel is never going to come back. Is this going to be something that's going to go on forever? And when will it stop? But after you've been through a few of these, you realize it's always going to come back," he said. </p><p>He lived in Manhattan at the time of 9/11 and remembers some people uttering they would never get on a plane again.</p><p>"But it wasn't that long before people started traveling again. Yes, there were changes. The security was much stronger," he said. </p><p>Airlines including Delta and JetBlue are currently blocking out the middle seat to allow for social distancing on flights. <a href="https://www.businessinsider.com/airlines-middle-seat-social-distance-coronavirus-delta-2020-8">An August survey found</a> that travelers are willing to pay as much as 17% more to fly with an airline that is blocking out middle seats. </p><p>Airlines are also requiring passengers to wear masks on planes, and airports have signs reminding people to stay six feet apart from each other.</p><p>Meanwhile, hotels are advertising their revamped cleaning protocols to entice travelers to book a stay. <a href="https://www.businessinsider.com/how-hilton-hotels-will-be-cleaned-after-coronavirus-2020-4">Hilton, for example, partnered</a> with Lysol maker RB and the Mayo Clinic to come up with a new set of procedures amid the pandemic.  </p><p>Today, Fogel is hopeful that more protections and technology will be rolled out so that people feel safer traveling. </p><p>"I think people just have an innate desire to travel," Fogel said. "We're gonna take a little bit of time, but I assure you travel in a few years will be bigger than it was before this terrible epidemic."</p><h2><a href="https://www.businessinsider.com/booking-holdings-ceo-airbnb-pandemic-travel-future-2020-9">Read the full interview with Glenn Fogel here.</a></h2>

Post 9/11 proved even the most wary of Americans would travel again. Here's why Booking Holdings' CEO believes the same will happen after COVID-19.

<ul class="summary-list"><li><keyword id="6357438" type="UNKNOWN" weightage="60" keywordseo="Booking-Holdings">Booking Holdings</keyword> CEO <keyword id="4870161" type="PERSON" weightage="60" keywordseo="glenn-fogel">Glenn Fogel</keyword> tested positive for COVID-19 at the end of March. </li><li>After announcing the news to the company, he said, he received many notes of support as well as messages from people who had also been sick with the <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword>. </li><li>"I think you've got to communicate more than you ever did before because people are nervous. They're worried about the future. Even if you don't know what's going to happen, be honest and candid and say that I'm not sure yet, we're working on it, we'll come back to you as soon as we know," he said of leading a company during the pandemic.</li></ul><p>Back in March, when the coronavirus pandemic took hold in the New York metropolitan area, Booking Holdings CEO Glenn Fogel started feeing ill. </p><p>His wife had become sick first, and both of his children were, too. </p><p>By the time Fogel got his test results back — COVID-19 testing was a lot harder to come by then — he was already feeling better.</p><p>"None of us had severe, debilitating symptoms," Fogel said in a recent interview with Business Insider. "I had a fever for two days. I had a headache for one night."</p><p>Booking Holdings officially disclosed in a <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1075531/000107553120000018/april120208k.htm">filing with the US Securities and Exchange Commission</a> on April 1 that the CEO had been diagnosed with COVID-19. Booking Holdings owns several prominent <keyword id="6354692" type="UNKNOWN" weightage="60" keywordseo="Travel">travel</keyword> brands, including Kayak, Priceline, <keyword id="1805678" type="COMPANY" weightage="60" keywordseo="Booking-com">Booking.com</keyword>, Rentalcars.com, OpenTable, and Agoda. </p><p>After the news was announced to the company, Fogel said, he started to receive notes from people who wanted to wish him well or share that they had also contracted COVID-19, but were too afraid of potential stigma to tell anyone about it. </p><p>"They felt more open about discussing that they had it, and it also, I think, helped reassure them that somebody could have it and not end up in the hospital," he said. </p><p>Booking Holdings saw the worst effects of the pandemic in the most recent quarter, <a href="https://www.businessinsider.com/booking-holdings-ceo-travel-wont-be-back-until-a-vaccine-available-2020-8">reporting in August</a> that gross bookings fell by 91%. Revenue fell 84% from the same period last year to $630 million. </p><p>The company is also in the midst of a restructuring that has seen job cuts numbering in the thousands. Fogel said in Booking Holdings' August earnings call that the layoffs could affect up to 25% of Booking.com's workforce. As of April, the company had about 27,000 employees across the organization.</p><p>Fogel told Business Insider that leading a large company through the pandemic has reinforced the importance of transparent communications. </p><p>"I think you've got to communicate more than you ever did before because people are nervous. They're worried about the future. Even if you don't know what's going to happen, be honest and candid and say that I'm not sure yet, we're working on it, we'll come back to you as soon as we know," he said.</p><p>"We've tried to do that, try and tell everybody, look, we've tried to do everything we could to preserve as many jobs as we can. We're doing everything that is possible to make sure that our organization is well-positioned for the future. It's one of those things that at least people know that you care. Because I do."</p><p>Fogel said that after he and his family had recovered, they donated their plasma to a local blood center to potentially be used in treating coronavirus patients. </p><p>"So at least we felt we were contributing, hopefully, to someone else," he said.</p><p>"I think in the end, it's one of those things where you just feel so lucky. Because I do know somebody who was not nearly as lucky as my family was. And you're just thankful when things are good because someday they may not be so good."</p><h2><a href="https://www.businessinsider.com/booking-holdings-ceo-airbnb-pandemic-travel-future-2020-9">Read the full interview with Glenn Fogel here.</a></h2>

Booking Holdings CEO Glenn Fogel dishes on his personal battle with COVID-19 and steering the travel company through a global pandemic

<ul class="summary-list"><li><keyword id="6357438" type="UNKNOWN" weightage="60" keywordseo="Booking-Holdings">Booking Holdings</keyword>, which owns brands including Kayak and Booking.com, saw the worst effects of the pandemic in the second quarter, reporting that gross bookings fell 91%. </li><li>CEO Glenn Fogel said during the earnings call that a vaccine or effective treatment will be necessary for business to return to normal. </li><li>The company said it's expecting a high level of uncertainty for the next several quarters, as it's unclear how comfortable people will be to <keyword id="6354692" type="UNKNOWN" weightage="60" keywordseo="Travel">travel</keyword> as the pandemic continues. </li></ul><p>The travel industry has been hit hard by the <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> pandemic. </p><p>And, industry leaders are not expecting that to change anytime soon. </p><p>In its quarterly earnings call on Thursday, Booking Holdings, the company that operates Kayak, Priceline, Booking.com, Rentalcars.com, OpenTable, and Agoda, <a href="https://seekingalpha.com/article/4365599-booking-holdings-inc-bkng-ceo-glenn-fogel-on-q2-2020-results-earnings-call-transcript?part=single">predicted</a> that it would take a widely available vaccine for business to be back to how it was before the pandemic hit. </p><p>"We continue to believe that in order to recover to pre-COVID levels, we will need to have a vaccine or effective treatment, which will take time to produce and distribute globally at the scale needed. We are pleased to have recently read news about progress on this front," CEO Glenn Fogel said during the call.</p><p>"But we believe it will be years and not quarters before the travel market returns to pre-COVID volume," he added. </p><p>Booking Holdings saw the worst effects of the pandemic in the most recent quarter, reporting that gross bookings fell by 91%. Revenue fell 84% from the same period last year to $630 million. </p><p>The company said that it saw signs of recovery in July as people grew more comfortable traveling domestically in the US. </p><p>At the same time, however, it announced it would have to make significant cuts to its workforce. Fogel said in the call that the company had reduced headcount across Kayak, OpenTable, and Agoda by 22% and that it expected to lay off about 25% of Booking.com's global workforce by the end of the year. </p><p>"We're looking at some period of uncertainty right now until we figure out more about what's happening with the vaccine and how that would impact people's comfort," CFO David Goulden said. </p>

Travel reservations have plummeted 91% and won't be back until there's a vaccine, says Booking Holdings CEO

<ul class="summary-list"><li>The CEO of Booking Holdings Inc. announced on Thursday that he tested positive for the coronavirus.</li><li>Glenn Fogel was tested last week after developing a fever and flu-like symptoms. </li><li>The online travel company could be hit hard since travel bookings have significantly decreased. </li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul><p>Glenn Fogel, the CEO of Booking Holdings Inc., announced that he tested positive for coronavirus in a statement this week.</p><p>Fogel said he started having a fever and flu-like symptoms early last week and got tested for the novel coronavirus not long after. </p><p>"I am very fortunate in that I only had a mild set of symptoms and can now say that I feel fine. While I feel grateful for myself, of course, I feel terrible for those who are facing much more difficult times at this very moment," Fogel wrote. </p><p>The CEO of the online travel company said on Thursday that he understands why people may not be quick to book travel in light of the outbreak, <a href="https://www.cnbc.com/2020/04/02/booking-holdings-ceo-on-bout-with-coronavirus-nothing-to-laugh-about.html">CNBC</a> reported. </p><p>"You have people that are more concerned about, 'Am I going to have a job?' They're thinking about that a lot more than, 'Am I going to go away in July somewhere or not?'" Fogel told CNBC. </p><p>According to CNBC, Booking Holdings, which operates Priceline.com, Kayak.com, and other travel sites, has suspended all non-essential travel. While some hotel and travel companies have furloughed or fired staff members due to decreased revenue, Booking Holdings is freezing hiring. </p><p>Fogel wrote in his statement that when the pandemic is over, his organization will continue their "mission to make it easier for everyone to experience the world. Until then, please stay safe."</p><p>He urged people to take the coronavirus seriously and practice social distancing. </p><p>"There will be difficult days ahead, and for most of us, things will get worse before they get better - but, I know we will weather the storm," he said. </p><p class="tagline"><i>Do you have a personal experience with the coronavirus you'd like to share? Or a tip on how your town or community is handling the pandemic? Please email <a href="mailto:covidtips@businessinsider.com">covidtips@businessinsider.com</a> and tell us your story.</i></p><p><i>And get the latest <a href="/coronavirus-business-impact">coronavirus analysis and research</a> from Business Insider Intelligence on how COVID-19 is impacting businesses.</i></p>

Booking Holdings Inc. CEO tests positive for coronavirus

<ul><li>Nine in ten <keyword id="158657" type="General" weightage="20" keywordseo="Indian-travellers" source="Orion">Indian travellers</keyword> say they want to travel more sustainably, which is a 15% increase compared to 2021.</li><li><keyword id="8063747" type="General" weightage="20" keywordseo="sustainable-travel" source="Orion">Sustainable travel</keyword> implies responsible tourism that can sustain long-term without harming the natural environment.</li><li>But, 36% of travellers believe that sustainable travel destinations don't provide the luxury and comfort they want on vacation.</li></ul>As the climate and the ecological crisis deepen day by day, many conscious Indians are carving new experiences by travelling more thoughtfully now. They are now opting to travel closer to home, choosing public transport, and renting bicycles to reduce their carbon footprint.<br /><br />Around 91% of the Indian travellers say that they want to travel more sustainably over the coming 12 months, which is a 15% increase compared to 2021, reveals a new 2022 Sustainable Travel Research Report by online travel agency Booking.com.<br /><br />The report further added that <strong>94% of Indian travellers think that sustainable travel is very important</strong>, and 68% of them cited that recent news about climate change has influenced them to make more sustainable travel choices.<br /><br />The research commissioned by the travel aggregator company involved a sample of 30,314 respondents across 32 countries and territories.<br /><cmsannotation type="cmsannotation" annotationid="What is sustainable travel?" comment="subhead" text="What is sustainable travel?"><span data-til="noop">What is sustainable travel?</span></cmsannotation><br />Some of us may not be aware, but air travel causes unmatched amounts of greenhouse gas emissions, and is currently among the most unsustainable way to travel. Also, many reports suggest that mass tourism threatens the ecological resilience of several remote places in the world. <br /><br />Sustainable travel implies responsible tourism that can sustain long-term without harming the natural environment. Such travel options minimise the negative impacts of tourism on the local environment as well as the socio-cultural fabric. Ideally, it boosts the local economy and is beneficial to the area in which it takes place.<br /><br />As people are becoming more aware of this concept, <strong>80% of Indian travellers claim to have stayed in a sustainable accommodation</strong> over the past year, while 69% indicate that they actively look for information on the sustainability efforts of a property before they book.<br /><br />“With increasing awareness of the climate crisis, people are travelling more thoughtfully, more creatively, and more intentionally.” says the report.<br /><br />While the concept is not new, sustainable and responsible travel has turned mainstream over the past few years, especially since the COVID-19 pandemic. As travellers explored creative ways amid travel restrictions, a whole new set of purpose-driven, sustainable entrepreneurship has emerged in the hospitality industry. However, challenges remain!<br /><cmsannotation type="cmsannotation" annotationid="Roadblocks for sustainability in travel" comment="subhead" text="Roadblocks for sustainability in travel"><span data-til="noop">Roadblocks for sustainability in travel</span></cmsannotation><br />While the statistics indicate that awareness of sustainable stays is clearly growing, there is still a lot of work that needs to be done. A significant portion of people still seems unsure as to how to travel more sustainably, how to find sustainable stay options, and whether to trust the available information. This highlights a need for the travel industry to make information transparent and understandable for a broad audience, says the report.<br /><br />Out of those travellers who didn’t opt for sustainable accommodation over the past year, 29% of them didn’t even know that this exists, while 37% didn’t know how to find this type of accommodation, the report suggested.<br /><br />On the other hand, <strong>36% of travellers believe that such destinations don't provide the luxury and comfort</strong> they want on vacation.<br /><br />“With increased pressure on our natural resources and the undeniable impact our way of life is having on the environment, we are 100% committed to leading the industry in charting a more mindful and responsible course for the future of travel,” says Glenn Fogel, CEO at Booking.com. <br /><br />The company claims that it remained carbon-neutral in its operations in 2021 and transitioned to 100% renewable electricity towards the end of 2021, an important step as part of its recently released <keyword id="1484404" type="General" weightage="80" keywordseo="climate-action-plan" source="Orion">Climate Action Plan</keyword>.<br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/apple-increased-the-use-of-recycled-materials-in-its-products-to-almost-20-in-2021/articleshow/90951595.cms">Apple increased the use of recycled materials in its products to almost 20% in 2021</a><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/grasim-tops-huruns-impact-50-list-by-achieving-17-sustainable-development-goals-in-2021/articleshow/90931374.cms"><strong>Grasim tops Hurun's 'Impact 50' list by achieving 17 Sustainable Development Goals in 2021</strong></a><br />

91% of Indian travellers prefer sustainable travel! Know more about the trend and the challenges

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Phocuswright/YouTube</span></p><p class="caption">Glenn Fogel, CEO of Booking Holdings.</p></div><p></p></div></div></p><ul class="summary-list"><li>Booking Holdings, the parent of Booking.com, Priceline and Kayak, is shifting some of its ad spending to TV and online video ads from Google.</li><li>The change in ad strategy comes as the company's flagship brand Booking.com brought on a former Google exec as its chief marketing officer.</li><li>Booking is trying to fend off Google, which has increasingly been encroaching into online travel companies' turf.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories</a>.</li></ul><p>Online travel giant Booking Holdings, <a href="https://www.cnbc.com/2018/11/05/travel-giant-booking-spent-1-billion-on-google-ads-in-the-quarter.html">which spends billions in advertising on Google</a>, is turning to TV and online video ads to diversify its spend, <a href="https://www.cnbc.com/2019/08/08/bookingcom-is-shifting-some-of-its-google-spending-to-tv-ads.html">CNBC first reported this week.</a></p><p>The parent company of online travel aggregators including Booking.com, Priceline and Kayak spent $1.19 billion on performance marketing, most of which went to Google, in the second quarter.</p><p>Performance marketing, which advertisers use to measure direct results such as clicks and sales conversions, has not been yielding efficient results, so Booking is doing more brand <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> to drive people directly to its sites, Booking's CFO David Goulden said during the company's earnings call Wednesday.</p><p>"We have observed a long-term trend of decreasing performance marketing returns on investment, a trend we expect to continue," the company wrote in <a href="https://ir.bookingholdings.com/static-files/a50abbb5-f75c-407f-a6f7-fbb5b3030784">its quarterly filing.</a> </p><p>"I think brand advertising is always going to be important for anybody who's in the <keyword id="6354851" type="UNKNOWN" weightage="60" keywordseo="retail">retail</keyword> business," CEO Glenn Fogel said during the company's earnings call. "I do believe that we need to continue to work on this and improve upon it. And I'm looking forward to us doing that."</p><p>Fogel also criticized the performance of other platforms like Instagram, Facebook, and Snap.</p><p>"The ROIs are not as effective and it's not as easy to scale yet as some of our other long-term use channels like Google, for example," he said on the call.</p><p>The change in advertising strategy comes as the company's flagship brand Booking.com hired Google marketing exec Arjan Dijk as its CMO, <a href="https://skift.com/2019/08/02/booking-quietly-taps-google-heavy-hitter-to-lead-marketing-in-exec-reorg/">Skift reported last week. </a></p><h2>Google is encroaching on online travel companies' turf</h2><p>Google has been encroaching on online travel companies' turf with its <a href="https://www.google.com/travel/flights?tcfs=EhoaGAoKMjAxOS0wOC0xNRIKMjAxOS0wOC0xNlIA&amp;ved=0CAkQyJABahcKEwjQhNysofbjAhUAAAAAHQAAAAAQAQ&amp;ictx=1#flt=/m/02_286..2019-08-15*./m/02_286.2019-08-16;c:USD;e:1;sd:1;t:h&amp;tcfs=EhoaGAoKMjAxOS0wOC0xNRIKMjAxOS0wOC0xNlIA">Flights</a> and <a href="https://www.google.com/travel/hotels?hrf=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-oBDAgAEggvbS8wY2N2eOoBDQgAEgkvbS8wMTh5emLqAQ0IABIJL20vMDJ6cWY26gENCAASCS9tLzAxeTkzN-oBDQgAEgkvbS8wMXc5aGfqAQ0IABIJL20vMDE1amg26gENCAASCS9tLzAxdzlsceoBDQgAEgkvbS8wNmx0M2TqAQwIABIIL20vMGc0azDqAQ0IABIJL20vMDJ0OW1f6gENCAASCS9tLzAyMzcybeoBDQgAEgkvbS8wNl83aF_qAQ0IABIJL20vMDNobDg06gENCAASCS9tLzA1cV8xbuoBDggAEgovbS8wYnkwczR66gENCAASCS9tLzAxOHl5N-oBDAgAEggvbS8wcG4xbuoBDQgAEgkvbS8wNTF4MHnqAQ0IABIJL20vMDQxNl926gENCAASCS9tLzAzaGJzdA&amp;tcfs=EhoaGAoKMjAxOS0wOC0xNRIKMjAxOS0wOC0xNlIA&amp;rp=OAFIAg">Hotels</a> services that allow users to book directly from search results.</p><p>That move has made it harder for travel companies like Booking, Expedia, Trivago and even Airbnb to reap the same rewards they once did on search ads, said a media agency executive who is familiar with Google.</p><p>"It's not just Booking; it's happening arcoss the board as Google is making inroads in the e-commerce transactions space," the executive said. "Google's losing search share on e-commerce to Amazon, so their entire strategy is to drive more e-commerce transactions that originate on search within Google." </p><p>But the executive expressed doubts that TV was the best way for a travel company like Booking to fend off Google.</p><p>"Social media is a better environment, where people are sharing so much more aspirational travel content," the exec said.</p><p class="tagline">Get the latest Google stock price<a href="http://markets.businessinsider.com/stock/GOOG-Quote"> here.</a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/lessons-from-the-lions-cmos-reveal-best-campaigns-jealous-2019-7">The top CMOs in the world share the campaigns they wish they had thought of</a></h3>        <div>                    </div>    </div>

One of Google's biggest advertisers is pulling spending on the ad giant even as it quietly hired a Google exec to market one of its biggest brands

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Phocuswright/YouTube</span></p><p class="caption">Glenn Fogel, CEO of Booking Holdings.</p></div><p></p></div></div></p><ul class="summary-list"><li><strong>Big TV networks like NBC and CBS are vying for direct-to-consumer brands ad dollars, but most DTC company TV <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> is going to cable networks, new research from analytics firm iSpot.TV found.</strong></li><li><strong>The firm analyzed nine months of TV airings and found that Fox News, HGTV, and CNN were the top networks to run ads from 186 DTC brands.</strong></li><li><strong>Booking.com was the biggest DTC advertiser, spending $122 million, representing a shift into traditional advertising by parent Booking Holdings. </strong></li><li><strong><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories.</a></strong></li></ul><p>Networks like NBCUniversal and CBS <a href="https://www.businessinsider.com/tv-giants-like-nbcuniversal-cbs-seeking-direct-to-consumer-ad-dollars-2019-5">are pitching direct-to-consumer brands</a> hard to fuel the $70 billion TV business, but cable networks are the ones reaping the rewards of DTC advertisers.</p><p>Digital brands like SmileDirectClub and Peloton that have long relied on performance-driven platforms like Facebook and Google are <a href="https://www.businessinsider.com/direct-to-consumer-brands-increasing-spending-on-traditional-advertising-2019-4">increasingly turning to TV</a> to build awareness.</p><p>But according to a new report from analytics firm iSpot.TV, cable networks are actually the biggest beneficiaries of ad impressions from DTC advertisers.</p><p>The firm tracked 186 DTC brands spending an estimated $2.3 billion on TV ads between January and September. The data analyzed 2 billion airings and 234 billion impressions between January and September.</p><p>While CBS made the top 5 in terms of DTC ad impressions, cable networks like HGTV and CNN had more impressions. iSpot.TV did not say how networks outside of the top five, like ABC and NBCUniversal, ranked.</p><p>The five biggest networks for DTC advertisers by ad impressions were:</p><ul><li>Fox News</li><li>HGTV</li><li>CNN</li><li>CBS</li><li>Hallmark Channel</li></ul><p>"It's not always about 'broadcast <keyword id="46801" type="COMPANY" weightage="60" keywordseo="prime">prime</keyword>' - cable networks work," said Emily Wood, VP of business development at iSpot.tv. "These brands care much less about audiences versus transactions with customers. They don't need their core customer to be a die-hard 'Grey's Anatomy' fan on ABC."</p><p>Wood added that networks have an opportunity with upcoming red carpet events like the Oscars and Grammy Awards to sell custom advertising programs to DTC brands. Typically, these ad packages are sold to TV's <a href="https://variety.com/2019/tv/news/fox-samsung-tv-commercials-advertising-1203344106/">biggest advertisers like Samsung</a> to reach live audiences.</p><p>Looking at spending by month, DTC advertisers spent the most in January, spending an estimated $333 million, followed by March with $271 million. August was the slowest month with $226 million in estimated spend.</p><h2>The number of DTC companies is growing</h2><p>iSpot.TV also looked at the top spending DTC advertisers. iSpot.TV defines the category as a digital-born brand that is typically less than 10 years old and trying to disrupt a legacy business.</p><p>The five biggest DTC advertisers by estimated spending between January and September were:</p><ul><li>Booking.com ($122 million)</li><li>HomeAdvisor ($113 million)</li><li>Chewy.com ($113 million)</li><li>Wayfair ($100 million)</li><li>Carvana ($86 million)</li></ul><p>Booking.com's parent company Booking Holdings <a href="https://www.businessinsider.com/travel-giant-booking-is-shifting-from-google-to-tv-ads-2019-8">has shifted its ad spend</a> from Google to TV recently. During an earnings call in August, CEO Glenn Fogel said the company spent $1.9 billion on performance-based advertising during the second quarter and planned to move more money into TV.</p><p>Booking.com's advertising was heaviest in the 2019 NBA finals in May and June. Other top shows included "Friends," "Law &amp; Order: Special Victims Unit" and "Sportscenter."</p><p>"I think brand advertising is always going to be important for anybody who's in the retail business," Fogel said. "I do believe that we need to continue to work on this and improve upon it."</p><p>iSpot.TV calculates ad spending using research firm SQAD, networks and public pricing information. It pulls in data from networks' ad catalogs and airings as well as data from more than 12 million smart TVs, according to its website.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/this-mom-is-winning-halloween-with-movie-inspired-crocheted-costumes-2018-10">This mom is winning Halloween with her movie-inspired crocheted costumes</a></h3>        <div>                    </div>    </div>

Direct-to-consumer brands are flooding TV with more ads than ever, but cable networks - not big networks - are the biggest beneficiaries

<p><a href="http://markets.businessinsider.com/stock/PCLN-Quote">Priceline</a> reported fourth-quarter revenue that beat Wall Street estimates, and the stock is climbing. Priceline is up 5.96% at $1,729.25 a share on Tuesday morning.</p><p>Here are the numbers:</p><ul><li><span>Earnings rose to $710.85 million in the fourth-quarter ended Dec. 31, from $540.65 million last year</span></li><li><span>EPS for fourth-quarter was $14.21 versus $10.72 last year; analysts expected <span>$13.01, according to Thomson Reuters' consensus</span></span></li><li><span><span>Revenue rose 17.5% to $2.35 billion; analysts expected <span>$2.32 billion, according to Reuters</span></span></span></li></ul><p>CEO Glenn Fogel said in a statement that revenue for the quarter was boosted by "accelerating growth in room nights booked for the full year 2016 over 2015, which reflects the benefits of our scaled accommodations platform and strong execution by our global teams."</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://markets.businessinsider.com/stock/PCLN-Quote"></a><p class="source"><span>Markets Insider</span></p></div><p></p></div></div></p><p> </p><p class="tagline">Visit  <a href="http://markets.businessinsider.com/">Markets Insider</a> for constantly updated market quotes for individual stocks, ETFs, indices, commodities and currencies traded around the world. <a href="http://markets.businessinsider.com/">Go Now!</a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/side-effects-brain-body-drugs-adderall-recreationally-adhd-pill-2017-2">What happens to your brain and body if you use Adderall recreationally</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="FtY3hzOTE6I-lLvh74cjJwaK2QnBUvzk" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Priceline is climbing after its revenue beat

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>A worker applies colour to strings which will be used to fly kites, on a roadside in Ahmedabad, India</span></p><p class="caption">Reuters/Amit Dave</p></div><p></p></div></div>Here is what you need to know.</p><p><strong><a href="http://markets.businessinsider.com/news/stocks/Bonds-are-flashing-a-warning-sign-for-stocks-1001607538">Bonds are flashing a warning sign for stocks</a>. </strong>The US 10-year yield ticked above 2.60% on Thursday, the level at which Societe Generale's Cross Asset Allocation team says is where stocks become "rich" to bonds. Currently, the US 10-year yield is down 3 basis points at 2.57%.</p><p><strong><a href="http://www.businessinsider.com/eurozone-inflation-data-for-november-2016-12?r=UK&amp;IR=T">Eurozone inflation is finally being sustained</a>. </strong>Eurozone final CPI printed 0.6% year-over-year in November, its highest level in more than two years. The euro is up 0.3% at 1.0442 against the dollar.</p><p><strong><a href="http://www.businessinsider.com/brexit-eu-to-charge-britain-50-billion-when-article-50-is-triggered-2016-12?r=UK&amp;IR=T">The UK will have to pay a big tab when Article 50 is triggered</a>. </strong><span>Michel Barnier, one of the European Union's chief negotiators, and other EU officials, said the United Kingdom will have to pay the European Union 50 billion pounds ($62.1 billion) when it triggers Article 50, the mechanism to begin the UK's exit, Sky News reports. The British pound is stronger by 0.1% at 1.2428 versus the dollar. </span></p><p><strong><a href="https://www.bloomberg.com/news/articles/2016-12-16/monte-paschi-gets-approval-to-extend-bond-swap-offer-to-dec-21">The world's oldest bank is getting more time to raise cash</a>. </strong>Monte Paschi has received regulatory approval to push back the deadline of its debt-for-equity swap to December 21, Bloomberg reports. The Italian bank must raise €5 billion to avoid needing a state rescue.</p><p><strong><a href="http://www.reuters.com/article/us-gilead-sciences-merck-co-verdict-idUSKBN1442U9">Gilead must pay Merck $2.5 billion in royalties</a>. </strong>A federal jury has awarded Merck a $2.54 billion reward in a patent verdict against Gilead related to its <span>hepatitis C drugs Sovaldi and Harvoni, Reuters reports.</span></p><p><strong><a href="http://www.businessinsider.com/trivagos-ipo-reportedly-falls-below-expectations-2016-12?r=UK&amp;IR=T">Trivago's IPO priced below expectations</a>. </strong>The hotel booking site raised $287 million through its initial public offering, which priced at $11 per share, well below the range of $13 to $15 dollars that was expected.</p><p><strong><a href="http://www.businessinsider.com/oracle-just-reported-second-quarter-earnings-2016-12">Oracle reported a mixed quarter</a>. </strong>The company earned $0.61 per share on revenue of $9.0 billion, compared to Wall Street's expectation for earnings of $0.60 on revenue of $9.11 billion.</p><p><strong><a href="http://www.prnewswire.com/news-releases/the-priceline-group-names-glenn-fogel-ceo-300379379.html">Priceline has a new CEO</a>. </strong>Glenn Fogel, a 16-year veteran of the firm and <span>current head of strategy and executive vice president of corporate development,</span> has been named CEO.</p><p><strong><a href="http://markets.businessinsider.com/indices">Stock markets around the world are up</a>. </strong>Japan's Nikkei (+0.7%) led the overnight advance and Italy's MIB (+2.1%) paces the gains in Europe. The S&amp;P 500 is set to open little changed near 2,265.</p><p><strong>US economic data is light. </strong>Housing starts will be released at 8:30 a.m. ET and the Baker Hughes rig count will cross the wires at 1 p.m. ET.</p>

10 things you need to know before the opening bell

<p><strong><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.shutterstock.com/image-photo/chiang-mai-thailand-march-2-2016lg-385172650?src=la_FLRGomFBc0R3r4X8dYA-1-3">By Mr.Whiskey</a></span></p></div><p></p></div></div></strong></p><ul><li><strong>Home-rental service <a href="https://www.businessinsider.com/category/airbnb">Airbnb</a> is now directly competing with <keyword id="6354692" type="UNKNOWN" weightage="60" keywordseo="Travel">travel</keyword> booking sites like <a href="https://www.businessinsider.com/category/bookingcom">Booking.com</a>, <a href="https://www.businessinsider.com/category/expedia">Expedia</a>, and others, as all of the sites have both traditional hotel listings and non-traditional apartment and home listings on their platforms.</strong></li><li><strong>As the companies' strategies for growth converge, I've observed that more and more rental listings can be found on multiple sites, often with wildly divergent pricing due to different fee structures and pricing algorithms.</strong></li><li><strong>Save yourself a ton of money on your next vacation by cross-referencing listings that you want to book across multiple sites. I often found discrepancies of $100 or more per night by checking listings between Airbnb, Booking.com, Expedia, and others.</strong></li></ul><p>Earlier this year,<span> </span>Airbnb CEO Brian Chesky made clear what has been apparent to hosts and power-users of <span>the popular home-rental service for some time: The company isn't the only game in town anymore.</span></p><p><span>"Our competition is two companies - Expedia and Booking.com," Chesky <a href="https://www.phocuswire.com/Interview-Airbnb-Brian-Chesky-hotels">told travel news site Phocuswire</a> in February. "Make no mistake: We are going to run this company for decades, but in a certain way."</span></p><p>To put it simply, travel booking sites like Booking.com are in a race to become more like Airbnb, while Airbnb is making a run to be more like those sites.</p><p>Booking.com announced in April that is<a href="https://www.cnbc.com/2018/04/10/online-travel-operators-are-fighting-back-against-airbnb.html"> now has 5 million non-hotel properties</a> on its platform, including houses and apartments, a 27% jump from 2017. When you include hotels and traditional listings, Booking.com says it has 27 million listings total.</p><p>Meanwhile, an Airbnb source<a href="https://skift.com/2018/04/10/booking-claims-it-beats-airbnb-with-5-million-alternative-accommodations-listings/"> told travel news site Skift that the company has up to 4.85 million listings</a>, up from 4.5 million in 2017 and with plans to grow to 5 million in the near future. That follows the company's announcement in February <a href="https://www.businessinsider.com/airbnb-adds-hotels-2018-2">that it was adding hotels</a><span> </span>to the platform.</p><h2>What does that mean for the end user? </h2><p>As the two services converge in their offerings, more and more listings can be found on both Airbnb and Booking.com. And, from my experience, identical listings often have wildly different pricings depending on the platform.</p><p>There are likely multiple reasons for the price discrepancies.</p><p>The sites charge different commission fees to hosts/hotels/etc on the platform, as well as different fee structures to the guest booking.</p><p>In addition, Airbnb has a "Smart Pricing" feature that hosts can use to automatically <a href="https://www.airbnb.com/help/article/1168/how-do-i-turn-smart-pricing-on-or-off">raise or lower prices based on demand</a>. Meanwhile, Booking.com has its RateIntelligence feature, which <a href="https://partnerhelp.booking.com/hc/en-gb/articles/213302085">helps properties optimize their pricing</a>. Each platform's tool obviously uses its own algorithm, which likely results in some of the price discrepancies.</p><h2>Check pricing for identical listings across platforms and save money</h2><p>Long story short, when you find a property that you'd like to rent on one platform, do yourself a favor and find the property on competing platforms. It's likely that the price will be considerably cheaper on one platform or the other.</p><p>In my experience, I've found that Airbnb tends to be the most expensive platform for the end-user, because it adds on a cleaning fee, a service fee, and occupancy taxes after the fact, where Booking.com usually includes it in the price.</p><p>This is pure speculation, but I believe this has to do with user expectations. Airbnb users are conditioned to view Airbnb as a peer-to-peer service, rather than a straightforward consumer site. As such, they are more willing to accept a cleaning fee after the fact, viewing that as a cost he or she should bear, rather than the host. Meanwhile, Booking.com users are expecting a hotel booking site, where everything is already included.</p><p>For example, this apartment in Jerusalem, Israel, listed as <a href="https://www.booking.com/hotel/il/royal-market-palace.en-gb.html?aid=304142;label=gen173nr-1FCAEoggJCAlhYSDNYBGgXiAEBmAEuuAEHyAEM2AEB6AEB-AELkgIBeagCAw;sid=0ab7d2d42bb44afbb690a20f61d9a812;atlas_src=sr_iw_title;checkin=2018-09-03;checkout=2018-09-05;group_adults=2;room1=A%2CA;sb_price_type=total;type=total&amp;;selected_currency=USD;changed_currency=1;top_currency=1">Royal Market Palace Apartments on Booking.com</a>, goes for $317 for six people from September 3 to September 5. Meanwhile, a seemingly identical apartment <a href="https://www.airbnb.com/rooms/16674973?location=Jerusalem%2C%20Israel&amp;check_in=2018-09-03&amp;check_out=2018-09-05&amp;s=lATPqDSl&amp;guests=1&amp;adults=1">on Airbnb goes for $385 over the same period</a>. A nearby two-bedroom apartment for five people at Windows of Jerusalem goes for <a href="https://www.airbnb.com/rooms/3547106?location=Jerusalem%2C%20Israel&amp;check_in=2018-09-03&amp;check_out=2018-09-05&amp;s=BFXJjh7r">$404 on Airbnb</a> and <a href="https://www.booking.com/hotel/il/exp-vacation-rental-apartments.en-gb.html?aid=304142;label=gen173nr-1FCAEoggJCAlhYSDNYBGgXiAEBmAEuuAEHyAEM2AEB6AEB-AELkgIBeagCAw;sid=0ab7d2d42bb44afbb690a20f61d9a812;atlas_src=sr_iw_btn;checkin=2018-09-03;checkout=2018-09-05;dist=0;group_adults=2;room1=A%2CA;sb_price_type=total;type=total&amp;">$386 on Booking.com</a>.</p><p>Which is cheaper depends on the property, the location, and the dates. For example, this Bairro Alto 3-bedroom apartment in Lisbon, Portugal<a href="https://www.airbnb.com/rooms/17726096?location=Lisbon%2C%20Portugal&amp;check_in=2018-09-08&amp;check_out=2018-09-10&amp;s=KrNP_Ctu"> is listed for $402 on Airbnb</a> for September 8 to September 10, while it goes for as much <a href="https://www.booking.com/hotel/pt/bairro-alto-view-point-3-bedrooms-chalet.en-gb.html?aid=304142;label=gen173nr-1FCAEoggJCAlhYSDNYBGgXiAEBmAEuuAEHyAEM2AEB6AEB-AELkgIBeagCAw;sid=0ab7d2d42bb44afbb690a20f61d9a812;atlas_src=sr_iw_btn;checkin=2018-09-08;checkout=2018-09-10;dist=0;group_adults=2;room1=A%2CA;sb_price_type=total;type=total&amp;">$731 on Booking.com</a>.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Screenshot/Airbnb</span></p></div><p></p></div></div></p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Booking.com/Screenshot</span></p></div><p></p></div></div></p><p>One interesting wrinkle, I noticed: Airbnb often does not charge you for using the full occupancy of an apartment, whereas Booking.com almost always charges based on how many people will be in the property. So if you are traveling with more people, you'll probably save money by using Airbnb.</p><p>I'm sure you could do this with thousands of listings in just about any city in which both platforms operate, as well on other platforms like HomeAway, VRBO, or Expedia. Increasingly, property owners/hotel operators/small business owners/hosts (whatever you want to call them) are listing on multiple sites.</p><h2>Booking.com, Airbnb, and other travel sites are competing not just for guests, but business owners</h2><h2><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Andrey Solovev/Shutterstock</span></p></div><p></p></div></div></h2><p>The Airbnb source told Skift that 3.5 million of its listings, or 72%, are exclusive to Airbnb. But I'm not buying that number until I see the company announce it officially. My suspicion is that, even if the number of exclusive listings is that high, that number is going to go down over time.</p><p>It simply doesn't make sense for business owners - Airbnb calls them hosts, but let's be honest, they increasingly resemble small businesses - to list their property on one marketplace, particularly as competition gets more fierce with the addition of boutique hotels and bed &amp; breakfasts to Airbnb's platform.</p><p>While Airbnb <a href="https://www.phocuswire.com/Booking-com-SimilarWeb-report">currently leads Booking.com</a> in web traffic in the US, Booking.com has the lead globally, according to SimilarWeb report released in June.</p><p>"We don't go out asking property owners to give us exclusives," <span>Booking Holdings CEO Glenn Fogel told Skift in April. </span>"We believe in the power of our demand platform to be able to deliver for hoteliers, property owners, anyone. Put it on our site and we'll give you demand. Some companies go around asking for exclusivity. I wonder why they would do that if they were able to deliver on bringing robust demand to partners."</p><p>Meanwhile, Airbnb has said it is focusing on a "community model as opposed to Booking's commodity model."</p><p>Whether that will continue to bear out as competition intensifies is anyone's guess. In the mean time, take advantage of the competition by checking prices across platforms.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/bird-island-private-island-belize-airbnb-robinson-crusoe-2017-1">You can rent this isolated island off the coast of Belize for $495 a night</a></h3>        <div>                    </div>    </div>

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