Advertisers say they expect to spend 33% less on upfront television buys in 2020 compared to last year, according to a new study by Advertiser Perceptions. Advertiser Perceptions has been conducting surveys of advertisers and media buyers every two weeks to gauge their ongoing reaction to the COVID-19 pandemic and the resulting economic uncertainty. The advertisers polled said the networks should not expect them to commit to more than 90 days’ worth of TV inventory during this year’s upfront. Advertisers usually commit to a full-year’s worth of advertising during the upfront. Concerns about the upfront comes after media companies reported a drop in ad revenues in March and forecasts of ad spending declines of 20% to 30% in the second quarter. The upfront changes could be long-lasting, with 41% of respondents saying that networks will be forced to abandon the upfront model altogether in favor of a more just-in-time buying model.
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