Media giants lean on sports as Hollywood strikes still loom over content slates – By Lillian Rizzo (CNBC) / May 18, 2024
- Media giants wooed advertisers with star-studded Upfront presentations this year after the end of the Hollywood strikes — but the hangover from the work pause last year showed in content slates..
- Sports once again stole the show, from legacy media giants emphasizing the NBA and Summer Olympics, to Netflix’s announcement it will host two NFL games on Christmas Day.
- Companies are still focused on streaming, and tech giants that now offer ad-supported platforms touted robust upcoming slates.
Media giants relied on sports last year when they had to woo advertisers during the Upfronts meeting week at a time when a Hollywood strike and cost cutting bit into their content and star power.
This year, while stars once again graced the stages following the end of the strikes, the presentations still leaned more on sports than scripted shows.
The hangover from last year’s work pause meant some media companies had fewer series and movies to highlight during their presentations. Cost cutting from companies including Disney and Warner Bros. Discovery didn’t help matters.
Live sports remained the darling of the Upfront meetings, as it still beckons the biggest audiences, and, therefore, the most advertising dollars.
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