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After years of CPMs rising while linear ratings declined, TV advertising was due for a course correction.
That’s what happened during the 2023-2024 upfront season.
This year’s upfront was already expected to be a buyer’s market, with advertisers holding back dollars due to an uncertain economy and the ongoing erosion of linear TV. However, the market was even softer than anticipated, according to several buyers familiar with negotiations.
“Outside of sports, it was essentially a rollback marketplace across the board,” one buyer told us, speaking anonymously.
This year’s talks were a completely different story than the 2022-2023 upfront negotiations, where publishers regularly announced historic highs in advertiser commitments.