Cutbacks From GM, P&G May Lead to First Upfront Ad Decline Since Recession
If the revised estimates hold true, it would mark the first time since the recession that the cable channel sector has seen a year-on-year drop in upfront ad commitments.
The cutbacks partly reflect a shift of television ad budgets to digital media, including online video. But media executives say uncertainty about the health of the U.S. economy is also weighing on marketers. Some brands are waiting until the last possible time each quarter to make ad commitments, so they have a better sense of the outlook for their own businesses, executives and ad buyers said.
Part of the downturn, though, is due to advertisers—including P&G and GM—starting to shift some television money into digital. While still relatively small, that shift signals a trend that could be ominous for traditional media