TV ad revenue took a dive in April, dropping 27% to $2.7 billion. Ad spending by travel services, retail, automotive, and restaurant industries all decreased significantly in the face of a “perfect storm” of increasing unemployment and stay-at-home orders.
A lack of live sports was another major factor in the decline. Standard Media Index estimates advertising commitments to sports dropped 72% from April 2019. Industry analysts believe the pandemic is likely to accelerate the ongoing shift of ads from TV to digital.
Ad Dollars Lost In Sports
- NBA: $240 million
- NCAA Tournament: $200 million
- NHL: $40 million
- Golf: $30 million
- MLB: $25 million
April Ad Revenue Numbers:
- Broadcast TV dropped 33.4% to $907 million
- Cable TV down 24.8% to $1.66 billion
- Syndicated TV gained 12.1% to $140.2 million