Advertiser spending on national linear TV was down 7% in October compared to a year ago, with a sharp drop in activity in the scatter market...
Spending on the broadcast networks dropped 12% while spending on cable was down 4%. Syndication declined 19%.
The figures come from data and analytics company Standard Media Index.
This year’s upfront took place before the ad market turned soft and advertising spending based on upfront buyer was down just 0.3% compared to a year ago. But scatter buys, made closer to when the commercials are schedule to air, plummeted 39%.
Direct response advertising was down 15%.
Spending on Entertainment programming was down 6%, spending on sports dropped10% and spending on news fell down 9%.
Spending by consumer packaged good advertisers was down 4%. Spending by financial services advertisers was down 20% and tech companies showed a 30% drop in spending. Entertainment and media companies’ spending was down 10%.
Pharma spending was up 9% and general business spending was up 11%. ■
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.