Paramount has virtually completed its upfront advertising sales, seeing a low- to mid-single-digit increase in volume in a soft market thanks to gains in digital video, programmatic sales and more brands seeking advanced audience targeting.
The upfront has been seen as a buyer’s market, with pricing under pressure because of advertiser concerns about the economic outlook and the impact the strike by writers and actors could have on network schedules next season.
Paramount skipped its traditional upfront presentation at Carnegie Hall, opting instead for smaller meetings with buyers and clients.
Also Read: NBCUniversal Finishes Upfront With Big Events Making Up for Weak Market
Sports has remained strong, even in a weak ad market, and Paramount portfolio’s, led by CBS’s coverage of Super Bowl LVIII, the National Football League and men’s March Madness, brought in ad dollars.
Other tentpole programming, including the MTV Video Music Awards, the Grammy Awards on CBS and Paramount Plus, the Nickelodeon Kids’ Choice Awards, the CMT Awards and the Tony Awards on CBS and Paramount Plus, also drew sponsors.
In an unusual market, Paramount saw gains with more advanced advertising products, sources familiar with the situation said.
Paramount’s EyeQ offering of digital video, including streaming properties Paramount Plus and Pluto TV has doubled its upfront business since its launch in 2020.
Data and programmatic business also brought in additional business and 30% more brands employed Vantage, Paramount’s ad-targeting platform. More than half of Vantage’s business was done on a currency other than Nielsen.
