US market is top global location for billionaires

By on Sep, 29 2014 with Comments 0

Dollar SignIf you’re looking to attract advertising from US clients with pricy items to sell – extremely pricy – and you can claim hefty penetration in to the extremely limited billionaire demographic, you really need to be operating in this city.

The city we’re talking about is not only #1 in the US, it’s #1 in the world.

The city is – you probably guessed it: New York. With 103 resident billionaires, it is comfortably ahead of #2 Moscow (85) and #3 Hong Kong (82), according to the Wealth-X and UBS Billionaire Census 2014.

In general, the global billionaire population is on the rise, to 2,325, and they now control $7.3 trillion US dollars.

No other US city is in New York’s league. Los Angeles is second with 25, followed by San Francisco (20) and Chicago (18), according to Financial Times.

RBR-TVBR observation: We’re reminded of an old joke where a down-on-his-luck Depression-era individual is trying to sell apple on the streets of New York. They are priced at $1,000,000 apiece. Informed by a passerby that a million-dollar apple was going to be a tough sell, he said, “Yeah, but I only have to sell one.”

We suppose that’s how we view going after this demographic with your local broadcast station. Lock advertiser access to this group down, and you won’t have to sell very much at all. Nonetheless, we can’t see our way to recommending the strategy.

About The Author: RBR+TVBR has been reporting on the business of broadcasting for nearly three decades. Beholden to no one, it is independently owned.

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