Why Does Upfront Week Still Exist?

It’s time again for upfront week, TV’s annual advertising showcase in which Madison Avenue descends on decked-out Manhattan venues. But ahead of this year’s week of presentations, which kick off May 15, many buyers are wondering whether the storied tradition—which returned last year in person following two years of pandemic shutdowns—is still necessary. "[Upfront week] used to feel much more valuable. And then quite honestly, to some extent, Covid made everyone realize that it's a little bit silly," one buyer said, speaking anonymously. "We don't need to do the song and dance anymore, right?" The consensus among the buyers Adweek spoke to was that the upfront pageantry is more for the broader marketing community, junior personnel, the media and clients. But the value of big, flashy, star-studded presentations remains in question. "I can go or not go, to be honest with you," a second buyer told us. "It's not going to change how I negotiate or what I think about what's happening in the marketplace." Paramount would seemingly agree: The media conglomerate made headlines late last year by dropping out of this year's upfront week presentations, opting instead for intimate upfront dinners. As John Halley—who is overseeing his first upfront as Paramount’s ad sales chief—told Adweek in March, upfront conversations are happening months before the annual event, and the majority of the company's deals are done by mid-May. "That timing does not facilitate the upfront discussion,” said Halley, adding that the presentations were little more than "a PR event." Speaking anonymously, several buyers applauded Paramount’s move out of upfront week to customized upfront dinners for clients in April, with one telling Adweek they were "relieved." "You're going to come out, and you're going to feel special," the second buyer said of the upfront dinners. "You're going to feel like you've got access to information that maybe the trades don't have yet." NBCU CEO Jeff Shell Ousted. What’s the Plan for the Upfronts? ‘Still a really important week’ Yet despite Paramount’s exodus—and the decision of The CW’s new parent company, Nexstar, to also skip that network’s traditional presentation—the upfront week lineup is as busy as ever (see sidebar) with Netflix and YouTube both stepping in to fill Paramount’s vacated Wednesday late afternoon/evening slot. (However, on May 10, Netflix made a last-minute shift to an all-virtual presentation on May 17, after the striking Writers Guild of America had announced plans to protest at the streamer's first upfront week presentation at the Paris Theater.) It’s a move that “shows the importance of the upfront,” said Marianne Gambelli, Fox's ad sales chief. “When you see companies like Netflix and YouTube coming into this week, it just shows the value of clients being able to evaluate all media at one time and how important that is across digital and linear, how it all works together and how clients want to evaluate their media mix. It's wonderful, actually—however the marketplace plays out—that clients get to feel it all at one time. There's a uniqueness to that." Whatever their views on upfront week, all the insiders Adweek spoke to acknowledged the value in getting the industry together. "I think it is still a really important week because it's a chance for all of us, not only the presentation, but it's the meetings and meals around this week that really start to dive into what the year ahead is going to look like and what the partnerships we're going to carve out with our advertisers start to look like," said Mark Marshall, president of advertising sales and client partnerships at NBCUniversal. Netflix’s upfront debut Next week, all eyes will be on upfront newbie Netflix, though its upfront presence will now be more muted. Prior to the company's shift to a virtual presentation, Netflix's choice of a smaller upfront venue—the Paris Theater is an iconic movie hall that the streamer purchased and reopened in 2019—rankled some buyers looking to get highly coveted tickets for clients. For one buyer, the smaller venue may have been indicative of Netflix's upfront week strategy. "Upfronts are the Javits Center, right? It's the Hulu Theater at MSG. They're made to be these big, showy events," the first buyer said. "So I think, more than anything, it was about the optics of saying, 'Hey, we're on the agenda. We're here to play with the big dogs,' more than it really is going to be an upfront in a way that it's going to disrupt the week." As for the presentations themselves, buyers expect topics such as DEI and measurement to be discussed at the upfront, but insiders are most interested to hear about the streaming strategies of each company—especially Disney+'s and Netflix’s new ad tier offerings. And when it comes to differentiation, content isn't the only king: Distribution is also on buyers' minds. "When we talk about players like Netflix and their ad-supported model, we know that the content is there," a third buyer said. "I don't think anyone is going to argue that Netflix doesn't have strong content, but we also need an audience." The future of upfront week While 2023 will offer another traditional upfront week—although the ongoing WGA strike could disrupt more events beyond Netflix's—buyers expect changes going forward. That’s especially the case now that the lines are blurring between the upfront events and NewFronts presentations held two weeks earlier, with both weeks essentially focusing on video. As one buyer put it, “Traditional media companies want to be data and tech companies, and data and tech companies want to be media companies.” With rumors of potential media mergers on the horizon as the TV industry grapples with the complicated economics of streaming amid a soft ad market, next year will likely see new upfront week entries and possibly more legacy exits. In many ways, the future of upfront week could come down to one company that's not even there this year. "A lot of it depends on how Paramount does this upfront," one buyer told us. "I don't think [their exit] is going to hurt them. At least, not with me." Inside Paramount’s ‘High-Impact, Intimate’ Upfront Dinners 2023’s Upfront Week Presentation Schedule Monday, 5/15 NBCUniversal (10:30 a.m., Radio City Music Hall), Fox (4 p.m., The Manhattan Center) Tuesday, 5/16 TelevisaUnivision (11:30 a.m., Pier 36), Disney (4 p.m., North Javits Center) Wednesday, 5/17 Warner Bros. Discovery (10 a.m., Hulu Theater at MSG), Netflix (5 p.m., virtual), YouTube (7 p.m., David Geffen Hall at Lincoln Center)

TV Upfronts

Why Does Upfront Week Still Exist?

Buyers say TV’s annual advertising showcase has become ‘a little bit silly,’ but presenters insist it still has value

Bill Bradley

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