Advertiser spending on national linear TV was down 7% in October vs. a year ago, with a sharp drop in activity in the scatter market. Spending on the broadcast networks dropped 12% while spending on cable was down 4%. Syndication declined 19%. The figures come from Standard Media Index.
This year’s upfront took place before the ad market turned soft and advertising spending based on upfront buyer was down just 0.3% vs. a year ago. But scatter buys, made closer to when the commercials are scheduled to air, fell 39%.
Direct response advertising was down 15%. Spending on entertainment programming was down 6%; sports spending dropped 10%; and spending on news fell 9%.
Spending by consumer-packaged goods advertisers was down 4%. Spending by financial services advertisers was down 20% and tech companies showed a 30% drop. Entertainment and media companies’ spending was down 10%.
Pharma spending was up 9% and general business spending was up 11%.