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Advertising May Not Turn Around in the Second Half of 2023

Most analysts have predicted an uptick in television advertising during the second half of 2023. However, at least one analyst from MoffettNatheson has indicated that the downward trend may continue. A recent article in Broadcasting and Cable reported:

“While television executives optimistically expect advertising revenue to rebound in the second half of the year, MoffettNathanson senior research analyst Michael Nathanson, looking at the economic outlook and the scatter market, is questioning the industry’s conventional wisdom and popping its balloons.
Instead of a rebound, Nathanson sees the industry facing a tough upfront and, in a new research note forecasts that 2023 TV advertising spending will be down 5% to $78.7 billion, compared to his earlier forecast of a 3.3% decline. That includes a 22.5% increase in ad-supported video-on-demand (AVOD) revenue to $11.4 billion. (His earlier forecast had AVOD growing 27%.)”

You can see the complete story in Broadcasting and Cable here.

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