TV Upfronts

Covid-19 Evaporates First Quarter TV Ad Revenue—And the Worst Is Yet to Come

Economic uncertainty and the lack of live sports paint a grim picture for second quarter and beyond

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To borrow a phrase from ViacomCBS CEO Bob Bakish during Thursday’s earnings call, advertising sales during the Covid-19 pandemic are “not pretty.” And media companies’ bottom lines are expected to get even uglier next quarter when the full effects of the crisis will be felt on their earnings.

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