Paramount Global Wraps Upfront: Volume Gains, 'Rebounds' In Key Categories

Paramount Global has finished its TV upfront advertising deal-making for the upcoming 2023-2024 TV season, which starts this September, with slight “low to mid single percentage” volume gains, according to media agency executives.

Last year, CBS TV Network -- Paramount Global's main revenue driver -- reportedly was estimated to have pulled in $2.6 billion in prime-time upfront advertising sales. 

This would have put CBS again among the top networks. Last year, Media Dynamics estimated the top five broadcast networks collectively pulled in $9.9 billion in upfront commitments for the 2022-2023 TV season. 

This year Paramount has seen a “rebound” in some key advertising consumer categories, according to executives who are close to the company -- including beverage, personal care, automotive, and insurance.

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There were also strong results from live sports programming, where analysts say advertisers paid low single digit percentage cost per thousand viewer (CPM) increases -- the only live, linear TV category to see gains in pricing. 

Entertainment -- scripted and unscripted TV series -- had rare price declines, ranging from 3% to 5% during the upfront selling period, according to executives.

In addition, Paramount’sEyeQ unit -- its streaming/digital sell-side ad platform business -- had strong results. EyeQ includes Paramount+, its premium streaming service, as well as Pluto TV, its free ad-supported streaming platform.

Paramount’s Vantage business unit -- its advanced advertising unit, where brands can buy cross-platform audiences across its linear networks and streaming platforms -- also performed well. This can include inventory for broadcast, cable, linear addressable, video-on-demand, connected TV, and FAST (Free Ad-Supported Streaming Television) platforms.

 
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