I was referring specifically to TV advertising, a topic...

I was referring specifically to TV advertising, a topic mentioned by post 56274010 .It read “Just seen nearmap on TV they are sponsoring channel 9 news and have adds at prime time.” There were a few HC follow-up posts on the topic.

It does not matter in what medium advertising appears, the issue is bang for buck. I imagine that prime-time TV advertising is not cheap in the ordinary course of business. However, if the useful impact can be reasonably established, and valued, that could either justify the spend on a cost-benefit basis, or create an opportunity for a pay-by-results deal.

A few years ago one of the companies in which I hold shares used a pay-by-results advertising blitz to promote unsecured loans. It may have been Credit Corp promoting Wallet Wizard. Credit Corp has an advanced analytics function that would have made it possible for the parties to agree on a metrics-based scorecard to establish the impact of an advertising blitz, and the commission to be paid. The demographic for unsecured loans is amenable to mass-media advertising campaigns, Nearmap subscription is not, IMO.

NEA's management has in my mind a proclivity to splash money on things like up-market premises, staff massages and flashy annual reports, and so questioning aspects of its expenses is justified. I add that costs are a different bag, NEA is very sensible there (data capture and storage).