• by Wayne Friedman , April 21, 2025

As concerns about a recession loom, national U.S. broadcast and cable TV advertising revenue declined 7% to $6.7 billion in the first quarter of 2025.

Macroeconomic trends are projected to act as a "headwind" for the remainder of 2025, according to estimates from MoffettNathanson Research.

For the first three months of this year, total national TV cable revenues are estimated to have fallen 9.2% to $3.4 billion, with broadcast networks sinking 4.6% to $3.3 billion.

The biggest decline for a cable TV group on a pure dollar basis is Warner Bros Discovery -- down 16% to $1.2 billion -- followed by Paramount, which sank 21% to $331 million and NBCUniversal, which lost 8% to $606 million.

For broadcast: NBC -- including its TV stations -- fell 5% ($914 million), while the ABC Television Network lost 8% ($484 million).

CBS was down 41% to unfavorable comparison to the year-ago quarter when it aired the Super Bowl, to $879 million.

Only Fox Corp. -- for its broadcast and cable TV networks -- had gains. Cable revenues were up 10% to $326 million, with broadcast 114% higher to $1.0 billion.

This was due to rising ad revenue at Fox News Channel (from growing viewership, post-election), and Super Bowl advertising for Fox Television Networks and Tubi.

Total U.S. streaming was up 26% to $3.6 billion for the first quarter.

Top performers included Disney+, rising 98% (to $197 million); Netflix, up 88% (to $502 million); Amazon Prime Video, up 82% (to $476 million); and Roku Channel, growing 30% (to $322 million).