“The one and only time we were together was last December when we rang the bell” at the stock exchange, ad sales chieftells Deadline. As soon as the pandemic started forcing the cancellation of events in March and April, Ross said, “We quickly got the troops together and said, ‘OK, we still need to stick a flag in the ground.'”
About 80% of the CBS broadcast schedule has remained intact despite the production shutdown. Sports has been a looming concern, with the NFL maintaining it plans to start its fall season on September 10 as planned. CBS is not only a regular-season broadcaster but in February 2021 it has Super Bowl LV, the first of two NFL title games in three years as a result of an Olympics-related swap with NBC.
The loss of live sports is one reason why Wall Street analysts and ad-industry observers expect a significant downturn inrevenue through at least the end of 2020. “This year’s upfront market is thoroughly disrupted,” wrote Macquarie’s Tim Nollen in a recent report.
Based on data from Nielsen and various media and digital companies, MoffettNathanson estimates that TV this year will slip below 30% of all U.S. advertising dollars spent for the first time since the medium was born. Digital spending, which first eclipsed TV in 2016, is likely to top 60% of the total.
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