Streaming platforms dramatically dropped
national TV advertising spend/media value in 2024 versus the year before -- 18% -- to $571 million, according to estimates from EDO Ad EnGage.
At the same time, streaming marketing airings on
TV commercial content were down 21% to 207,220. This produced 17% fewer impressions to 83 billion.
EDO says the average streaming platform TV spot witnessed 22% lower online engagement volume
to 54,090 for the few minutes after a TV commercial aired.
These results include paid advertising as well as promotional/advertising exposure on legacy media-owned TV networks.
Lower
national TV ad spend/promotion marketing occurred while major streaming platforms significantly slowed -- and/or dropped -- production costs.
Amazon Prime Video was the major streaming
platform TV spender for the year -- $149 million, down slightly (0.6%). Much of this was due to big spending for its “Thursday Night Football”. There was less money spent for the National
Women’s Soccer League, NASCAR, and NBA basketball by Prime Video.
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Companies that have seen major declines include Warner Bros. Discovery's Max, which was down 52% t0 $67.4 million. NFL+
was 18% lower to $56.2 million.
Walt Disney’s Hulu (on demand) dropped 20% to $23.2 million, while Hulu + Live TV sank 36% to $16.8 million. But the company significantly raised efforts
around Disney+ -- 56% higher to $62.1 million -- and the ‘Disney Bundle’, which inched up 4.4% to $51.7 million.
Paramount+ was flat at $57.5 million. Peacock slipped 2% to $42.7
million.
Paramount Global’s Pluto TV -- a FAST channel (free ad-supported/streaming TV) grew 53% to $28.8 million. Its FAST competitor -- Fox Corp.’s Tubi TV -- was 66% lower to
$14.4 million, while Fox’s Fox Nation streaming app was down 41% to $13.81 million.