AT&T’s Ad Revenues Shrink by a Third in Brutal, Coronavirus-Decimated Quarter
Turner loses $470 million without NBA, Final Four advertising
AT&T CEO John Stankey said the company expects that Covid-19's effects will continue “well into next year.”
AT&T
Key insights:
- It's the first quarter the full effects of Covid-19 can be seen on company balance sheets.
- The company also shared early HBO Max subscriber numbers.
It’s shaping up to be another rough quarter for traditional television giants, whose advertising businesses have been decimated by the postponement and cancellation of televised sporting events and whose theatrical releases have been put on hold due to the ongoing effects of the Covid-19 pandemic.
