Against the backdrop of current upfront deal-making, the first six-and-a-half months of 2024 show the eight leading linear TV networks are virtually even in terms of advertising revenue with results of a year ago, at $10.4 billion, according to estimates from EDO Ad EnGage.
In 2023 during the same period, advertising revenue came in at $10.5 billion.
Two main reasons for the consistent results are sports and more commercial airings. Analysts will point to unit pricing gains for sports inventory, even as analysts predict a continued steady decline for live, linear TV in overall business.
ABC had strong sports content in early 2024 (and the last four months of 2023) with the addition of NFL regular-season and playoff games. Advertising revenues climbed at an estimated 21% for the January 1 - June 18 period to $2.3 billion.
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CBS was 20% higher to $2.99 billion, largely due its airing of the Super Bowl this past February. ESPN grew 5% to $829 million.
On the flip side, Fox Television Network's ad revenue has been nearly cut in half due to unfavorable comparisons to 2023, when it aired the Super Bowl. This year, the network came in at $711 million versus last year's total of $1.8 billion.
Contributing to these networks' consistent results, TV networks overall grew airings by 6% year-over-year to 759,350 airings. Those rising airings include ABC (104,260), CBS (84,620), Fox News Channel (106,810), and Univision (107,930).
In terms of advertising revenue, after CBS ($2.99 billion) and ABC ($2.3 billion), NBC was in third place (up 1% to $1.52 billion) followed by TNT (down 5%, $973 million), ESPN (5% more, $829 million); Fox (down 60% to $712 million), Fox News Channel (off 10%, $585 million) and Univision (losing 2% to $555 million).