• by Wayne Friedman , April 30, 2024

Among the major legacy owned TV networks, national broadcast and cable TV advertising for Q1 is estimated to have declined 7.4% to $7.2 billion, according to MoffettNathanson estimates.

Broadcast networks are estimated to have dropped 6.6% to $3.4 billion, while cable networks are estimated to be down 8.2% to $3.8 billion. 

CBS Television Network and Disney cable TV networks were the only networks to see gains during the period -- up 38.6% (to $1.5 billion) and 4.6% (to $850 million), respectively.

CBS benefited from the Super Bowl, which analysts estimated to have brought in around $600 million for the entire day of the big NFL football coverage.

Disney benefited from ESPN's strong results, driven by NBA and post-college football season ad revenue.

Fox Television Network was the biggest loser in the period due to the unfavorable comparison to the year-ago period, when it aired the Super Bowl. Fox is projected to be down 53% to $508 million. 

NBCUniversal (including advertising on its TV stations) sank 2% to $964 million. ABC Television network declined 15% to $432 million. 

Cable TV network groups saw greater declines. Paramount Global networks were down 20% ($419 million), while AMC Networks were 19% lower (to $130 million), NBCU was 11% lower (to $657 million), Warner Bros. Discovery lost 8% to $1.5 billion, and Fox was off 8% ($291 million).