CBS Closes Upfront, Fox Wrapping Amid Strikes & Soft Advertising Market

Jill Goldsmith
·1 min read

CBS parent Paramount Global and Fox Corp. weighed in on their upfronts today, following NBC last week. The former has closed its 2024 selling season up “low-to-mid single digits” in dollar commitments. Fox Corp. showed gains in news and is looking at a fall slate of sports, animated and unsripted content.

Both companies, along with the rest of the television industry, have been in unusually protracted negotiations amid unprecedented Hollywood labor action and a problematic ad market.

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There are few details yet. Fox News and Sports saw pricing and volume growth. Fox Entertainment increased upfront sell-out over last year, according to a source.

Fox Sports, driven by NFL, MLB, College Football and the World Cup, saw growth in both price and volume.

Fox News Media saw pricing and volume growth heading into election season.

AVOD service Tubi, saw its fourth consecutive year of volume growth (each year since Fox acquired the company in 2020).

At Paramount Global, volume was up low-to-mid-single digits. Results across its EyeQ, Vantage and Sports verticals saw double-digit growth on a combined basis. Some consumer ad categories, including beverage, personal care, auto and insurance, are looking better.

Sports portfolio includes Super Bowl LVIII, March Madness, PGA/Masters and UEFA. Content includes the CBS broadcast premiere of Yellowstone. Tentpole events: VMAs, Grammys, Kids’ Choice Awards, CMT Awards, Tony Awards, Kennedy Center Honors.

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