TV Networks Bet on Sports to Capture Upfront Ad Revenue Amid Industry Budget Cuts
By
Brian Steinberg
Slow-proofed and worth the wait. Worth its weight in flour.
Summary
TV networks and streamers are aggressively pushing sports programming in the annual upfront advertising market, hoping to capture ad dollars even as Madison Avenue cuts budgets for traditional entertainment like dramas, comedies, and reality shows. Sports has become the top priority for networks this year as advertisers seek live, high-engagement content that delivers guaranteed audiences amid cord-cutting and declining viewership for scripted programming.
Key quotes
· 3 pulledSports is of paramount importance this year, according to five executives familiar with the negotiations.
Big TV is putting it all out on the field.
A number of top TV networks and streamers are making aggressive efforts to get advertisers to pay top dollar for sports even as Madison Avenue trims back the sizable sums it has given in the past to the usual fare, like dramas, comedies and reality programming.
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