From CNBC: 2024-05-13 10:04:27

Media giants are preparing for Upfronts presentations amidst industry disruption, including streaming, upcoming trends and financial data. Traditional TV ad revenue is making a slight comeback, while digital advertising continues to rise. Tech companies such as Snap, Roku, Google, and Microsoft are seeing a rebound in digital ad revenue.

Netflix remains a streaming champion with its global subscriber base reaching 270 million. Amazon Prime Video introduced an ad-supported tier, while YouTube’s ad revenue surged more than 20% in the first quarter. Amazon, Netflix, and YouTube are set to make their Upfront presentations this week in New York City.

Traditional media players like NBCUniversal, Disney, and Warner Bros. Discovery are facing challenges with flat or declining ad revenue. Warner Bros. Discovery and Disney have announced plans for a streaming bundle. The future of sports rights, particularly NBA rights, remains a significant issue during Upfronts week.

Fox Corp. reported a decline in ad revenue compared to the prior quarter when it aired the Super Bowl. Paramount Global opted out of a traditional Upfront presentation, holding several events in April instead. The company is navigating a sale process and is without a singular CEO.



Read more at CNBC: Media companies woo advertisers as spend shifts to digital