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Upfront TV ad spend continues declines in 2024

Article by Sara Lebow  |  Jul 8, 2024
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Upfront TV ad spend continues declines in 2024
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Topics
TV Ad Spending
United States

Key stat: US upfront TV ad spend will decline this year by 2.5% and again in 2025 by 4.5%, marking three years of decline, per our May 2024 forecast.

Beyond the chart:

  • As upfront linear ad spend declines, US upfront/NewFront digital video ad spend is on the rise.
  • US upfront/NewFront digital video ad spend will increase by 37.3% to reach $18.61 billion, per our May 2024 forecast.
  • As connected TV (CTV) becomes more popular, 40% of US agency and marketing professionals are reallocating funds from linear to boost CTV spend, according to March 2024 data by Interactive Advertising Bureau (IAB), Advertiser Perceptions, and Guideline.

Use this chart:

  • Demonstrate the need to diversify advertising beyond traditional TV.
  • Make an argument for investing in CTV.
  • Illustrate the decline in traditional advertising.

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