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Baby Boomers Have All The Money, Brands & Advertisers Have To Pay Attention

“So in the Boomers, sports leagues and networks are capturing an audience that is not only far wealthier, but far more enthusiastic about engaging with their products.”

Ryan Glasspiegel

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For a number of years, Mike Francesa has been emphasizing that Baby Boomers were a dramatically undervalued audience demographic for advertisers. His generation was working and living longer, and earning and spending far greater money than the 25-54 year old demo coveted by radio and 18-49 by TV. The New York radio legend recognized a vital paradigm shift sooner than just about everyone else in the business, while also probably being a little too dismissive of young professionals. 

“I understand there’s an obsession with youth in this country, but go to a Mercedes-Benz dealer and ask them how many Mercedes did you sell in the last month to people between the ages of 18 and 34?” Francesa mused at the Barrett Sports Media summit early last year. “And then ask them how many they sold to the people between the ages of 55 and 65.”

I’ll acknowledge that my initial reaction to when Francesa started making this point years ago was thinking “Ok Boomer” inside my own mind. I was over-sensitive to the fact that he was hand-waving my generation of Millennials like he would a WFAN caller from Yonkers who suggested a dumb trade. His opinion was transparently self-serving in regards to his own aging audience, and he underrated what habit-forming can mean to advertisers. Nonetheless, as I’ve thought about it more I’ve realized he’s completely right about the considerable spending power of people in their 50s, 60s, and 70s in this country — and brands are also recognizing it and adapting. 

Buying for 3-4 Generations

Jill Albert is the CEO of Direct Results, a firm that buys ads across audio platforms including radio, podcasts, and streaming for brands like Omaha Steaks, USC, Home Advisor, Mathnasium and Chewy.com. She told Barrett Sports Media that 25-54 remains the “core” demographic target in audio, but that 55-75 year-olds are “kind of misunderstood and undervalued.” 

Lauren McHale, SVP and Director of Sales at the Katz Radio Group ad agency, agrees that 55+ is “often undervalued”. 

McHale said, “Advertisers target consumers via their lifestyle choices. Research shows that sports radio, play-by-play in particular, delivers an audience that is educated, employed, and has a higher income and higher net worth than the average adult.  Stats from the Federal Reserve and the Bureau of Labor Statistics show that adults 55+ have the highest net worth among all households, and account for the largest share (41%) of all consumer spending in the U.S.”

Albert made the point that Boomers, with accumulated wealth that dwarfs younger generations’, are in a position where in many cases they are spending not just on themselves but on care for their elderly parents, and potentially providing support for their children and grandchildren. 

Michael Mulvihill, EVP and Head of Strategy at Fox Sports, affirmed this point. “How many young people use a Netflix password that’s paid for by their parents? A lot,” he said. “How many parents use a Netflix account that’s paid for by their kid? Seems like not many. That seems to flow almost entirely in one direction.” 

So what we are seeing isn’t necessarily what Francesa lobbied for in prioritizing the boomers for ad targeting, but a gradual shift in which they’re being valued more than before but still not the priority. “At the end of the day we want as many ears on our platforms as we can get — whether it’s over-the-air or digital” said Mitch Rosen, Program Director of Audacy stations 670 The Score in Chicago and 105.7 The Fan in Milwaukee. “I still believe we live in a 25-54 world. I still think that’s the target.”

Contextualizing the Wealth

It’s one thing to just say that Boomers are rich and thus imply that the youth are poor, but when you look at the data it really smacks you in your face. According to the Federal Reserve, here is the wealth in trillions of dollars for the generations:

Silent & Earlier is defined as born before 1946, Baby Boomers were born from 1946 through 1964, GenX from 1965-1980, and Millennials from 1981-1996. The differential magnitude is stunning: Boomers have nearly twice as much wealth as GenX’ers and nearly 11 times what the Millennials do. 

Michael Mulvihill, the Fox Sports executive, pointed me to a study, circulated by the AARP, which said that if you separated out the economic contributions of Americans aged 50+, it would be the third largest economy in the world behind the United States and China. “So the third largest economy on Earth is completely ignored by the advertising industry,” Mulvhill said of those who cut off audience value of those older than 18-49. “That seems like it should be reconsidered.”

Those numbers, as gobsmacking as they are, still do not tell the full story. Part of the emphasis on reaching 18-49 or 25-54 was the presumption of upward mobility amongst generations of Americans. The Boomers, when they were the target demo, were the leading illustration of this belief. However, the ladder got pulled up behind them. 

This chart, shared recently by UNC Greensboro economist Gray Kimbrough, takes a few seconds to read, but when you figure it out it plainly spells out what Mike Francesa was stating: young professionals have not been accumulating wealth like their predecessors did:

How can you respond to that besides acknowledging that fundamental assumptions about buying power must be re-assessed?

What it Means for Sports

You can hardly call it a dire situation when the NFL is nearly doubling their media rights money in the next TV contract, but there were some sirens sounded when the median viewership of the Chiefs-Bucs Super Bowl was at 50.6 years old, up from 46.6 in 2018 and 49.1 last year. To illustrate why we constantly hear about the old viewership for MLB and younger for NBA, the World Series was at 56.2 and the NBA Finals at 46.1. 

The Boomers are the generation most apt to sit down and watch all or most of a game, while the youngs are increasingly satisfied to nibble on highlights on their phones. Last week, Variety revealed a survey in which different generations were asked whether they preferred to watch full games or highlights. Here are the percentages that preferred watching highlights:

NFL

18-34: 48%
35-49: 20%

50+: 11%

NBA

18-34: 54%
35-49: 47%

50+: 40%

MLB

18-34: 58%
35-49: 48%

50+: 24%

So in the Boomers, sports leagues and networks are capturing an audience that is not only far wealthier, but far more enthusiastic about engaging with their products.

How do you harness that?

When I’ve talked about the undervaluation of older audiences, one response that I’ve gotten is that people’s preferences are set by the time they’re in their fifties and they become impervious to the influence of advertising. That is partially true, and explains why the youth is coveted. Look at what Dave Portnoy and Barstool have built. For two decades they have reached college-aged fans and kept them around. Portnoy isn’t content to let the audience age with them, and earlier this week explained the funnel system of doing drama-filled shows with Tik-Tok stars so that Barstool can capitalize on the young audience when they start making money:

Nonetheless, advertisers who cut off their targets at 49 or 54 are dismissing a remarkable amount of massive opportunities. 

“Buying habits may be set on consumer packaged products, so when they go to the grocery store things may be set from that perspective. You’re not going to sell them on a new brand of toothpaste,” said Jill Albert, the CEO of Direct Results. “But their world is opening up. They’re not spending as much time taking care of school-age children or working. So now they get to do whatever they want. Take travel: How many times do you talk to people who are 55 years old that are trying to figure out all the places they want to go? That’s a huge opportunity, especially after coming off a stretch where travel has been shut down and will be opening up.” 

Lauren McHale, of Katz Radio Group, says that they’ve discovered that Boomers express feeling excluded by marketers. “Using our proprietary research panel of U.S. consumers across the country, Katz surveyed older adults to gauge their opinions of brands not speaking to them,” she says. “Based on our research, the 55+ consumers are aware they’re being snubbed – they are also aware of their spending power. Our findings show that the 55+ audience want brands to speak to them and they take action when they hear an ad.”

There has been what I think is a misconception that mobile devices and streaming would cannibalize traditional media platforms when in many cases there are incremental strategic advantages. For example, for years Mitch Rosen was selling 670 The Score’s reach in car radios or perhaps in the office. Now, the app can reach you through your phone headphones or home speakers. For the first time ever this season, Cubs games will stream on their app. The audience from all of this can get aggregated and targeted accordingly. 

Another element, and this is a topic for a whole other piece, is addressable advertising. Facebook, Google, and Amazon have built an oligopoly in digital advertising with their sophisticated targeting technologies. This strategy is already percolating in audio and TV. Jill Albert said that Direct Results is already using attribution models and pixel tracking techniques across audio platforms — even including terrestrial radio. 

To borrow a conclusion phrase from Mike Francesa, the bottom line is that he was perhaps a little too dismissive of young professionals, but absolutely right that the Baby Boomers need to be a focal point in sports media marketing. This is an audience that has more wealth and the desire to spend it than the generations who came before it and the ones coming up behind. For the right industries, targeting them is quite advantageous. 

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Jen Lada Has Built a Multiplatform Presence at ESPN

“I always say my job is to make the viewer care about somebody and root for somebody that they might ordinarily not root for or care about.”

Derek Futterman

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Jen Lada
Courtesy: Phil Ellsworth, ESPN Images

When Jen Lada appeared on Around the Horn earlier in the month, she became the 58th panelist to be part of the program since its launch in 2002. Facing off against three other panelists from around the country, she garnered a victory in her on-air debut and elicited plaudits from her colleagues. Throughout the program, Lada demonstrated her deft sports knowledge and nuanced opinions that have crafted her into a venerated, skilled reporter at the network.

Although she had appeared on many ESPN programs previously, Around the Horn represented a show to which she wanted to contribute for many years. In fact, she has memories of watching the show just out of Marquette University and remarking about its brilliance and ingenuity.

Utilizing reporters with comprehensive knowledge of various sports who have chronicled several events, the show provides them an opportunity to give their opinions on issues and engage in debate with their contemporaries. Lada earned a spot on the show by being persistent, continuing to express her proficiency in commentary and sports discussion. The journey to arrive at this stage of her career, through which she has realized high-level assignments and a presence both at the local and national level, required adaptability and fortitude, and she continues to never take opportunities for granted.

“It’s great that I won, but it just sets the bar really high for the next time I go out there, which is not something I’m afraid of,” Lada said. “I love a challenge, and I love proving to myself that I can keep trying new things and doing new things well, and I hope that if people see me as some sort of example in the industry, that that’s what they walk away with.”

The approach adopted by Lada within her multifarious career ventures is to develop and maintain versatility, always innovating within her approach to content. As she looks to build off her initial victory on Around the Horn, she aims to be more compendious in her discourse and applying a more succinct approach. Making the adjustment in order to deliver compelling, distinctive points quickly differs from her other work, but it is all ultimately centered on sports.

While studying at Marquette University, she observed her classmates having a conversation about the men’s basketball team and what had happened in a recent game. Lada, who at the time was dating a player on the team and cheerleading at games, began to give her thoughts and was subsequently asked if she had ever considered sportscasting.

“I didn’t know that women could be sportscasters,” Lada said. “It wasn’t on my radar as a real career that women held because there were so few of them at the time doing it, and so once I realized that that was something I could do, then I kind of turned all my attention to, ‘Well, how do I make this happen?’”

As Lada began to complete internships and navigate through the media industry, she learned to develop a thick skin and refined her conduct. Out of school, she had completed a year of a non-paid sports internship and was waitressing on the side to pay the bills. The first interview she took for a job at a television station in a top-10 market ended with her being sexually harassed. It was a jarring experience that disappointed Lada because of her propensity to give people the benefit of the doubt, and it also forced her to evaluate her own disposition.

“I think it’s only natural that you wonder how you contributed to the circumstance or what you could have done differently to maybe not put yourself in that space,” Lada said, “but I was very lucky that when I told my family about what had occurred, they very quickly knocked any notion of that out of my head.”

In navigating the industry with good intentions, Lada recognized that it is not her fault if other people fail at treating others professionally and create a misogynistic work environment. Receiving the lesson early in her career has made her more aware of the people to avoid, and she remains wary of advice given to women in the industry that they should just be nice. Lada was recently on a panel where someone advised a broadcast class that being nice would result in things working out for them in the future.

“I felt myself cringing internally because I don’t think that that is a luxury women are afforded,” Lada said. “I don’t think – maybe now is different, but when I was coming up, and I’ve been doing this for more than 20 years, there were people who preyed on niceness. And so the way that I would tweak that is to be professional; to carry yourself in a professional manner and recognize that sometimes being ‘traditionally nice’ puts a target on your back to be mistreated, and the best thing you can do is alert those people who would see you as a target that you’re not going to fall victim to that or you refuse to be victim to that.”

Lada joined ESPN in 2015 where she was hired to contribute to Colin Cowherd’s radio program. When Cowherd left the network and joined FOX Sports on a full-time basis, she started co-hosting a new, national program alongside Jorge Sedano. The show, however, had an evanescent run and left her feeling as if she had failed.

It took her a full year to recognize that she had been involved in a series of circumstances and decided to enact the necessary change, asking producers for advice and attending seminars. One of these was an interviewing course hosted by journalist John Sawatsky where he synthesized the art of the craft. Akin to when she was in college, she overheard in passing that the network needed more women in the features space.

“I was fortunate enough to have done a lot of features during my time in Milwaukee because we had a 9 p.m. newscast that required a local sports feature every night of the week, so between our three-person department, we had to fill that timeslot,” Lada said. “I had done a lot of lengthy sports features in Milwaukee [and] had a good foundation of what that job required.”

The meeting led to Lada doing features on an interim basis at the network and later granted her a spot on College GameDay, where she works as its features reporter. Lada presents stories every week to the audience that go beyond the gameplay and divulge a bigger picture.

“I always say my job is to make the viewer care about somebody and root for somebody that they might ordinarily not root for or care about,” Lada said. “One of the things that has occurred to me over the last few years is just what a skill is required to do that job well because not only are you preparing questions to ensure that you have all of the details and information, you’re also gathering perspective on what they’ve been through – the adversity and the situation that has led them to where they are now.”

Lada recently found herself in a high school classroom at 8 a.m. sitting with other students taking the ACT standardized test. She had to complete the exam as punishment for finishing last in fantasy football at ESPN Milwaukee this past season. After four hours, Lada emerged from the school and revealed her score this past week on the Jen, Gabe, and Chewy morning show. Hosting the local program alongside Gabe Neitzel and Mark Chmura, she has established chemistry over almost four years in the three-person format discussing hyperlocal topics.

“I try to be conversational,” Lada said. “We don’t lean on stats – obviously, we want to be accurate, and we want to be, again, fair to the subjects we’re talking about, but we try to also just be friends who are talking about what’s going on on any given day on the Milwaukee [and] Wisconsin sports scene.”

In balancing a variety of different roles, Lada has tried to master everything that she is doing, refraining from being content with her abilities. Although working in local radio regularly has been a newer role for her, she has grown into the job and has co-hosts who understand the subject matter and allow her to utilize her strengths.

“I just want to keep learning,” Lada said. “I’m not satisfied with what I’ve done, [and] I’m not complacent about the skills I have. I’m always interested in adding more jobs to the résumé, and I think that in this industry, you’re rewarded for versatility.”

Once College GameDay commences, Lada adds the responsibility of feature reporting on that program to her schedule and continues making appearances across additional ESPN programming. Lada hosted the Friday edition of College Football Live last season and has also filled in as a host on shows such as First Take and SportsCenter. Moreover, she continues to complete projects for SC Featured and is working on a documentary for E:60 scheduled to premiere later in the summer. 

Lada aims to keep showcasing her indefatigable work ethic and passion for the craft without slowing down. Whether it is hosting a podcast, taking part in more panels or writing essays, she is open to exploring new forms of disseminating stories.

“I have a lot of knowledge and experience rattling around my brain, [and] I think the next iteration is figuring out a way to continue passing those experiences on to the next generation.” Lada said. “I don’t ever want to gatekeep the secrets of success – I think that’s selfish – so as I continue to do the media work, I think the next phase for me is figuring out how to pass a lot of these lessons on to future broadcasting generations.”

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Local Radio Advertisers Can Become Experts with Hosted Shows and Interviews

Overall, local radio interviews and talk shows can be a strategic and effective way for a local expert to enhance their business, build their reputation, and connect with the community.

Jeff Caves

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Photo of people talking on the radio

When looking for that extra edge for local radio advertisers, packaging radio commercials with an “expert” client-hosted talk show or interviews on your local shows or newscasts can be a game-changer. This strategy can build long-term business relationships with suitable clients, such as lawyers, business accountants, agents, psychologists, or sports handicappers. These professionals can provide valuable editorial contributions to sports and news stations. Of course, the expert must have good communication skills, be comfortable speaking their mind, and be ready to be the face of the business.

The radio commercials can tout the expertise the person has and give a call to action for listeners to move on. You can often find these experts on social media writing blogs or doing a series of vignettes about their business. For these types of clients, engaging in local radio news interviews or hosting a 1-2 hour talk show can enjoy several advantages:

Visibility and Brand Recognition

Visibility and Brand Recognition: Regular appearances on local radio help the expert become a well-known figure in the community. This visibility can lead to increased recognition and brand awareness and is a much faster track than just blogging on social media. Attorney Bill Handel and his ” Handel on the Law” show have created a directory business for Handel.

Public Trust and Credibility

By sharing their expertise and providing timely insights, the expert can build trust and establish credibility with the audience. Being perceived as an expert can enhance any client’s reputation and create top-of-mind awareness needed to lead business categories.

Client Acquisition

Listeners impressed by the expert’s knowledge and demeanor may seek their services. This exposure can lead to new clients who might not have been reached through other forms of advertising and give credibility to the expert who uses social media.

Community Engagement

Engaging with the local community through radio shows helps experts connect with potential clients more personally. This can foster a sense of community and loyalty. Question and answer segments can lead to deeper connections.

Educational Outreach

The expert can educate the audience on various issues, which can empower the audience. An informed audience is more likely to recognize when they need the expert’s assistance and whom to contact.

Stand Out in a Crowd

Stand out in a crowd: Being active on local radio can set the expert apart from competitors who may not use local radio. Often, the local shows or interview segments are exclusive to the expert.

Immediate Audience Feedback

Interacting with the audience through call-ins or live questions provides immediate feedback and allows the expert to address common concerns directly in real-time. The expert can be of service NOW.

Professional Development

Regularly discussing current topics can keep the expert sharp on trends and issues, contributing to their ongoing professional development.

Networking

Local radio stations often have a vast network of listeners and other professionals. This can open doors to new professional relationships and opportunities for collaboration. The station also provides a loyal audience who typically don’t follow the expert on social media. But they may start to after hearing the expert.

Overall, local radio interviews and talk shows can be a strategic and effective way for a local expert to enhance their business, build their reputation, and connect with the community.

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‘We Need To Talk’ is Insightful, Intelligent Conversation on CBS Sports Network

The show is not going to be a ratings giant like ESPN’s First Take or offer the decibel level of commentary on FS1’s First Things First, but it is a necessary and unique slice of sports television.

John Molori

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A photo of the women who host We Need to Talk on CBS Sports Network
Photo Courtesy: CBS Sports Network

CBS Sports Network’s ‘We Need To Talk‘ features a rotating roundtable of female sportscasters offering their views on a variety of topics in sports. The premise is important. Female voices in sports need to be heard. They bring perspective, weighty conversation, and thoughtfulness to each discussion.

Over the past few years, women have made major strides in being heard and seen in sports media whether it is hosting, commentary, reporting or play-by-play. This is a good trend, but We Need To Talk is about more than just female talking heads. It’s about insight, depth, and needed attention to athletes and sports that do not bask in the mainstream limelight.

This particular episode featured host AJ Ross joined by Summer Sanders, Katrina Adams, and Renee Montgomery. It was an eclectic and accomplished group with Ross, an experienced and versatile reporter, Sanders, the erstwhile U.S. Swimming star and a broadcast veteran, Montgomery, the former WNBA star, activist, and co-owner of the WNBA’s Atlanta Dream, and Adams, former tennis player, CEO of the United States Tennis Association, and chair of the US Open.

Montgomery got the conversation going looking back on the Celtics winning the NBA Championship. She also made a telling comparison between the Celtics-Lakers rivalry, renewed in the 1980s with Larry Bird and Magic Johnson, and compared it to the current WNBA rivalry between the Indiana Fever and Chicago Sky with Caitlin Clark and Angel Reese. It’s a valid comparison, and Montgomery brought it to life effectively.

The WNBA was up next with Montgomery talking about Cameron Brink, the LA Sparks’ rookie who is making a splash not only on the court, but on the social media and fashion scenes as well.

It should be noted that this episode of We Need To Talk was taped before Brink suffered a season ending torn ACL, but Montgomery’s point was clear. It is not only important to be a great player. Today’s athletes also need to use multimedia platforms to raise their profiles.

Adams segued into a discussion on Wimbledon and No. 2 ranked Coco Gauff. It was good to hear some tennis talk on the airwaves, but this is a hallmark of We Need To Talk. The show makes it a point to move beyond the front-page stories and hit angles and areas that do not get much coverage.

These ladies are not afraid to get in each other’s grills as well. Sanders actually interrupted Adams to start a discussion about the upcoming Paris Olympics, but Adams would not relent and moved forward to an analysis of 2023 Wimbledon men’s singles winner Carlos Alcaraz.

The variety of sports continued with Ross starting a discussion about US track star Sha’Carri Richardson. I’ve been a fan of Ross for a long time. She does an expert job of mixing in her own commentary, while making sure all of the panelists on We Need To Talk get their due time. She’s also multitalented, seamlessly moving from reporter to host to debater.

We Need To Talk takes its roots in diversity with an all-female cast, but there is a deeper variety within the makeup of the cast. Sanders is a longtime veteran of sports, sports broadcasting, and entertainment. Ross is in the prime of her journalistic career. Adams brings perspective as an athlete, administrator, and leader, and Montgomery offers a fresh and contemporary style with her commentary.

Block 2 of the show featured Montgomery and Ross interviewing Naomi Girma of the San Diego Wave women’s professional soccer team. Girma was named 2023 US Soccer Women’s Player of the Year, the first defender to ever win that award. This is what We Need To Talk offers those who watch the show. It is almost like a smaller scale, studio version of the classic Wide World of Sports on ABC, “spanning the globe to bring you the constant variety of sport.”

The interview was managed well with Ross asking meaningful questions and Montgomery enthusiastically following up with her thoughts and input. This edition of the program also featured a wonderfully produced feature story on USC basketball player Aaliyah Gayles.

The talented Trojan hoopster was on the fast track to basketball stardom when, in April 2022, she was shot at a house party in Las Vegas. Gayles required two emergency surgeries to save her life.

The pace, video, and sound bites in the package were equal parts frightening, sobering, and uplifting. Gayles literally had to learn how to walk again as the feature focused on her rehabilitation and eventual return to the USC lineup.

Coming back from a break, the panel engaged in a great discussion on the talent link between collegiate and US Olympic athletes. A graphic showed that 75% of Team USA athletes and 82% of United States medalists played an NCAA sport.

As the discussion expanded, Montgomery talked about the fact that in order to enter the WNBA, players have to complete four years of college or be of the age of someone who has completed four years of college. I actually did not know that. We Need To Talk passes my personal litmus test for important sports television, namely, it tells me something I don’t already know.

Bringing still another sport and recognizable female athlete into the fold, Dara Torres joined the show next for an interview. The 12-time Olympic swimming medalist talked about her new role as head coach of the Boston College men’s and women’s swim and dive teams. Sanders asked a solid question about how, as a world-class athlete, Torres will manage her expectations of the BC athletes.

 As sports continues to meld with social issues, so too does the subject matter on We Need To Talk. Ross introduced a segment on the National Gay Flag Football League. Again, kudos go to the show’s production team for a slick and enlightening feature story. Praise should also go to the program itself for expanding the boundaries of sports and opening up a whole new world of knowledge for viewers.

Following the feature story, Montgomery and Adams made a point that sports unite people and bring diverse groups and personalities together as one. Montgomery is a fast-developing on-air talent. Her wit, energy, and knowledge go far beyond the basketball court making her a rising star in sports media.

The program continued to bring sports and life together by connecting the June celebrations of Pride Month and Father’s Day with an emotional poem written by renowned DJ Zeke Thomas, the son of NBA Hall of Famer Isiah Thomas. This was part of the We Need to Listen segment of the program.

Let’s keep it real. We Need To Talk is not going to be a ratings giant like ESPN’s First Take or offer the decibel level of commentary on FS1’s First Things First, but it is a necessary and unique slice of sports television.

The show consistently provides uncommon subject matter with an inimitable approach and tenor. Check it out when you get a chance and bring an open mind and a joy of sports. They need to talk, and we all need to hear them talk.

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