Television networks and streaming platforms exhibit their upcoming programming to advertisers and media buyers during what is coined the Media and TV Upfronts. These events are held as a 1 to 3-day series of events annually. Typically, these presentations consist of scheduling announcements, previews of new programs, and insights into audience demographics.
Before the new television season commences, upfronts provide networks with an opportunity to secure advertising commitments for their forthcoming content. They provide advertisers with the chance to assess potential advertising opportunities and negotiate agreements directly with the networks. In the media industry, upfronts are essential for the development of advertising strategies and expenditures for the forthcoming year. The majority of networks and major streaming providers hold these events.
In addition to being welcomed by athletes and celebrities, the advertisers are granted sneak peeks at the upcoming slate of fall programming, and discounted rates for advertising in the networks upcoming programs.
The sum of money committed at TV upfronts can fluctuate considerably between networks and platforms and from year to year. Annually, the United States has experienced a range of total upfront expenditure from approximately $18 billion to more than $20 billion in recent years.[1] The dynamics of upfront spending are changing, which has an impact on the total amount committed at TV upfronts, as a result of the rise of digital streaming platforms and changes in viewing habits.
This annual practice was once straightforward: three or four networks would convene in expansive venues to highlight their most promising autumn programs to advertisers. At present, there are numerous organizations that engage in the sale of multiple platforms. It is unclear how much money was exchanged during the May 2024 upfronts; however, the unique value proposition that each service or network attempted to showcase is well-documented.
The following is a list of the most covered news coming out of the upfronts:
Amazon Prime Video / Freevee
- In its inaugural TV upfront presentation Amazon went all-out. After an intimate performance by Alicia Keys, over a dozen personalities from Amazon Prime's streaming content lineup took the stage including Jake Gyllenhaal, Reese Witherspoon, and Will Ferrell.
- Amazon announced Prime Video is the largest premium ad-supported streaming service in the United States and globally, with an average monthly ad-supported reach of 200 million global customers. “This marks day one for the newly ad-supported service”, said Mike Hopkins, senior vice president and head of Prime Video and Amazon MGM Studios.
- Announced Prime Video's average unique audience is 47% larger than that of other streaming services, and the platform has a 56% incremental increase among adults 18 to 49 when compared to linear TV.
- The jewel of Amazon's sports offerings remains "Thursday Night Football." The NFL contests in 2023 experienced weekly viewership increases, which culminated in a full-season average that increased by 24% year-over-year. This season, Prime Video will feature the inaugural NFL Wild Card Playoff game and the regular season opener between the Buffalo Bills and Miami Dolphins.
Comcast NBCUniversal / Peacock
- Comcast has introduced its own bundle, StreamSaver, which will be available this month at a "significant discount" compared to the cost of purchasing each subscription individually. This bundle includes Peacock, Netflix, and Apple TV+.
- Allstate, L'Oréal Groupe, T-Mobile, and Volkswagen of America are the presenting sponsors for Saturday Night Live's 50th anniversary season, as announced by NBCU during the upfront.
Over 150 celebrities and personalities graced the stage for the occasion.
- Rita Ferro, the President of Global Advertising Sales, emphasized that Disney's innovative approach to technology delivers for advertisers, while it provides an unparalleled experience for fans by leveraging the strength of the Disney ecosystem across all platforms.
- Disney allocated a significant amount of time to the release of trailers from its diverse studios.
- Jim Gaffigan revealed that Hulu would start airing stand-up comedy specials under the title Hulu's Laughing Now.
- ESPN had Jason Kelce on stage, who is joining the network’s Monday Night Countdown NFL pregame show in the fall.
- Stephen A. Smith of ESPN said: “Across digital, linear, social, streaming… ESPN is the most followed brand — not just sports brand — but brand on TikTok.
- Jimmy Kimmel, closed Disney’s Upfront by saying: “Remember when Netflix thought they were above all this? They came in — destroyed commercial television — and now — guess what they want to sell you? Commercials on television.”
- Fox annual upfront came out swinging, touting the 2025 Super Bowl broadcast and former football great Tom Brady on stage among other celebrity offerings.
- Fox announced advertisers will achieve the greatest audience reach and impact by deploying their campaign through one or more Fox properties, regardless of the method.
- Fox informed advertisers that Tubi is responsible for 1.6 % of all TV viewing and has approximately 80 million monthly active users.
- Tubi shared that it experienced a 60% year-over-year increase in viewership and 15% audience growth in 2023. Additionally, it experienced a 35% increase in viewership among adults 18-49. This information is based on Nielsen research. 63% of Tubi consumers either discontinued their cable/satellite subscriptions or never renewed them. Parks Associates research confirms Tubi’s strong growth – 20% of US internet households reported watching Tubi in the Parks Associates Q1 2024 survey, up 33% year-over-year.
- Tubi Chief Executive Officer Anjali Sud said: "We stand for something -- entertainment for the cordless generation.”
- YouTube shared the stage with a multitude of content creators, including Zach King and Cleo Abram, highlighting brand case studies with Pepsi and Taco Bell, and concluded the event with a performance by Billie Eilish.
- YouTube implemented tools to facilitate collaboration between brands and their preferred creators through YouTube Select Creator Takeovers.
- Announced a Google AI-driven format for connected TV that employs non-skippable assets throughout the in-stream inventory.
- The platform now has 40 million monthly users on its ad-supported plan globally, up from 23 million just four months ago.
- Netflix will air the NFL’s Christmas Day games for the next three years.
- Netflix also plans to roll out its own proprietary AdTech platform by 2025.
Paramount+ / Pluto TV / CBS
- This group has taken a different approach to upfronts and media presales for a second year in a row.
- Paramount is hosting intimate dinners with the largest media and advertising buyers across the country, including hosting seven dinner events in New York as well as presentations in LA and Chicago.
Warner Bros. Discovery / MAX
- Announced advertising solutions across an expansive suite of brands and platforms, including Max, Food Network, CNN, HGTV, TBS, Discovery, TLC, Bleacher Report, and Discovery+.
- Warner Bros. Discovery did tout the addition of new shoppable and trivia ads to Max, as well as the capability to target ads based on emotions or contextual elements within sequences.
The streaming industry has significantly altered the way content is consumed. This is a departure from the era of cable television, when viewing was limited to linear programs interspersed with advertisements. There is a diverse selection of content consumption options available, including those that are available ad-free for a nominal fee, those that are accompanied by advertisements for less of a fee, and those that are completely free.
Streaming has been the focal point of this year's upfronts. Political advertising has been unexpectedly quiet, new (and old) trends are emerging for ad purchasing and delivery, and sports are transitioning too digital. For this upfronts season, these four themes were particularly noteworthy.
- Live Sports are Driving Ad Dollars - Parks Associates forecasts that OTT sports service revenue will grow by 73% over the next three years, reaching an estimated $22.6 billion in 2027. When consumers tune in to sports streaming services, advertisers will be ready to greet them.
- Internal Shift in Ad Tech on Display - Streaming providers are evaluating the potential of building their own advertising technology. Having more control of the data and implementation could make streaming advertising more effective. Assuming ownership of their own advertising technology, streaming services will either construct it from the bottom up or acquire existing ad technology companies.
- No One's Discussing Political Ads - Widely publicized was the fact that the political advertising discussions were absent from this year's upfront across all major media entities. It is true political ads tend to lean heavily on local markets versus national media providers, however during an election year this could be a missed revenue opportunity.
- All Eyes Are on Ad-Supported Streaming - Parks Associates Q1 2024 research finds the average number of services households subscribe to surged in 2022-23, but households are trimming their budgets and finding alternate free programming. In Q3 2023, 29% of homes subscribed to 8 or more services versus in Q1 2024 when only 20% subscribe to 8+ services.
Each upfront spent time discussing the growing opportunities in the paid ad-based tiers and free options. Fox focused on Tubi’s growth, Amazon talked of original content on Freevee, and Netflix reminded advertisers that they have over 40 million subscribers to its “with ads tier.”
This is an except from Parks Associates Streaming Video Tracker, an annual service with monthly and quarterly deliverables that provide details on current players, new entrants, and trends in the OTT video services market. Services tracked include subscription, transactional, and ad-supported services that deliver professionally created content to consumers on internet-connected devices.
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