Scholars have examined media substitutability from many angles, but few, if any, studies have examined substitutability of advertising on the basis of language. Using a price sensitivity test, this exploratory study examines advertisers’ attitudes toward the substitutability of English-language advertising among U.S. foreign language television advertisers to reach their target audiences. Advertisers overwhelmingly (90%) indicated that they did not consider English-language television as an acceptable substitute for reaching their target audiences. This finding has implications for media ownership and mergers, providing evidence that foreign-language television and English-language television exist in separate product markets, and should aid future policy discussions.

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