In New York City two weeks ago, the Upfronts Festival took place. At this extravagant event, the biggest television networks showcased celebrities starring in their major Fall TV lineups, enticing advertisers to lock down prime ad time. This kick off to the new TV season gives the opportunity to highlight what is to come while solidifying early commitments with advertisers.
You would think that with the rise in cord cutting and consumers watching less live TV that this type of festival would not be as grand as it once was. However, traditional broadcast TV has something that streaming services like Netflix and Hulu don’t: bringing millions of people together in real time.
Even though traditional TV audiences are shrinking, broadcast TV is still an incredibly effective advertising medium. This is largely due to prime time. Last year, TV networks landed $20 billion in ad commitments due to the value of prime time audiences. And this is hugely attractive to advertisers. Like the New York Times stated, “advertisers love crowds”. Especially crowds that come together at the same time. As audiences become more and more fragmented, traditional live television still holds together the largest audience of people from all different walks of life. It is safe to say TV continues to prove itself and it is here to stay.