The Covid-19 pandemic, which evaporated first quarter TV ad revenue, continued to depress the bottom lines for broadcast media giants in the second quarter. For Comcast, that has translated to a Q2 loss of more than 25% of NBCUniversal’s broadcast and cable ad revenues.
In quarterly earnings released today, Comcast said NBCUniversal’s cable advertising revenues declined 27% and broadcast television advertising revenue dropped 27.9% year over year, due to the continued economic effects of the pandemic on advertiser spend and programming like live sports.
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