Plenty of money will be spent on TV ads during this year’s “upfront” — but probably not enough to fuel the economics of all the nation’s big media conglomerates. TV executives and media buyer…
One buyer says many of the clients tied to his agency have yet to register budgets for the yearly ad bazaar. In other years, this buyer says, a ledger would already be filled with hard numbers. “It has been very difficult to get commitments from clients, and there is a lot of nervousness and uncertainty,” the executive says. This buyer projects cable will see the biggest declines, followed by broadcast TV, with even digital possibly ceding some ground.
“The sentiment is that it will be more of a buyer’s market than a seller’s market, which is an indication the money will be down,” says Carrie Drinkwater. chief investment officer of MediaHub, a media-buying unit of Interpublic Group. Evidence is already readily available: Advertising revenue slumped 11% at Paramount Global in the first quarter, and 15% at Warner Bros. Discovery.
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