Launched in June of 2004, Wealth TV is positioned as the only lifestyle and entertainment cable network that is primarily focused on creating wealth and spending your discretionary income on the finer things in life – most notably food, luxury clothes, cars, boats, and vacations.
But as someone who regularly watches Wealth TV (in between channel surfing between other lifestyle programming on networks like HGTV, DIY, TLC, Food, Travel, and Discovery) I have to wonder if Wealth TV is actually reaching or appealing to those individuals of true wealth. UHNW and HNW branding is a science; targeting individuals that fall within those categories needs to be done smartly and efficiently, and Wealth TV doesn’t really fit into that picture.
The programming on the network consists of shows like, “Boy’s Toys” – which highlights everything guys like, including extreme vehicles and tech gadgets; “Culinary Travel”– taking you to exotic places and showcasing the food that makes the locations so unique; and “Wealth on the Water”– featuring yachts from around the globe. With a wide range of programming that is very similar in many ways to that of competing networks like Discovery, Food, and the Travel Channel, I have to wonder if “Wealth TV” really caters even to someone who makes an upper-six-figure salary, never mind beyond that. Take a look at what the lead visual is on their website today – a segment on Sandals Resorts, in all its neon glory. Doesn’t really get more pedestrian than that.
What makes Wealth TV unique? What makes someone with discretionary income to spend on luxury goods and services want to watch this network? Or is it really just as pedestrian as its competitors? The basis of what and why Wealth TV was established and still exists today has always been a mystery to me.
If I am the CMO or agency for a luxury brand, why would Wealth TV appeal to me as a place to advertise my brand? And why aren’t there more tried and true luxury brands running ads on the network?
For Wealth TV to take the next step into relevancy in the affluent landscape, and as a front-of-mind brand in the eyes of the wealthiest individuals in America, the network first needs to take another look at its programming, which seem to offer more of a glimpse into the lives of the wealthy, as opposed to suggestions, insights, and entertainment that the truly wealthy would actually find engaging. The second step would be to create strong partnerships with luxury brands that represent quality, value, and service as opposed to prestige, which HNW and UHNW consumers care about less and less.
Would you trust your ultra-luxury brand to Wealth TV? Have you already?