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Primetime TV Sees Ad Dollars Fall in Upfront for Second Year, but Streaming Lends Boost
Advertisers pulled dollars from primetime TV for the second consecutive year, part of an 'upfront' market roiled by the rise of streaming
The diminishing dollars spotlight how the media industry is changing as more people gravitate to streaming video and other means of accessing their favorite programs, movies, news and sports events. Warner said it took a charge of $9.1 billion to write down the value of its TV portfolio, which includes TNT, TBS and HGTV, citing declines in ad spend and the looming end of its TV-rights pact with the NBA. The cost of reaching 1,000 viewers, a measure known as a CPM that is central to the annual upfront talks between TV networks and Madison Avenue, fell to $43.35 for broadcast and $20.60 for cable, marking declines of 5.6% and 6.8%, respectively.
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