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Report: US TV advertisers look to cut US$1.5bn from Q3 spending

PepsiMajor advertisers including General Motors (GM), Pepsi and Domino’s Pizza, are looking to slash the spending commitments they made to US broadcast and cable networks in Q3, according to the Wall Street Journal (WSJ). With the country’s broadcasters already suffering a fall in advertising revenue due to the coronavirus pandemic, big name brands could deliver another blow as they reportedly look to claw back up to US$1. 5 billion in the third quarter from advertising commitments. According to the WSJ, the impending move is down to most advertisers taking advantage of contract clauses that allow them to cancel as much as 50 per cent of planned spending. The mention of Pepsi will raise particular concerns in the National Football League (NFL) and the National Basketball Association (NBA), with it being a brand a partner of both. Pepsi only renewed its deal with the NFL last September and is now on board with the league until 2022.

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