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Advertising Upfronts: Video is King, Where CPMs are Going, What Multicultural Players Are Up To, and More…

The ins and outs of the Upfronts. The ascent of video, where CPMs are going, and what the multicultural players are betting on.


Advertising Upfronts 2024: 5 critical takeaways.

1. The NewFronts Have Become Real Advertising Upfronts 

One thing transcending clearly during this NewFront/Upfront season is that digital NewFronts participants are closing a sizable chunk of business by this time of the year; thirteen years after the IAB NewFronts started in 2011, native digital players are finally able to leverage the NewFronts to sell advertising upfront. Insiders tell Portada that in some cases, the amount of business closed around the NewFronts represents more than 50% of the overall annual target revenues. The growth of video advertising, including CTV,  is the primary driver.

Thirteen years after the IAB NewFronts started in 2011, it can be said that digital players are finally able to leverage the NewFronts to sell advertising upfront.

2. …Propelled by Video Advertising.

While many of the traditional linear TV players (e.g., NBCUniversal/Telemundo, TelevisaUnivision) organized the most lavish upfront shows, make no mistake about it: While their linear business is still large, and they also have digital video units (e.g. Peacock, VIX), they are losing market share vs. the smaller more nimble up and coming players (e.g., Revry, Canela Media, MyCode, Group Black and others…). The increasing substitution of linear TV buys for digital video drives digital video’s high growth rate (see the table below). Open web players are getting a part of the pie, but the vast winners continue to be social media (Meta, YouTube, and TikTok).

Video Advertising Projections for 2024 (Including Linear TV)

Linear TV60.5
Total Digital Video Advertising62.9 * (+16% Y/Y)
Online Video16.8 *
Social Video23.4 *
CTV23.4 *

Note: In US $ billion. Estimates/Totals vary due to different sources.
Source: eMarketer, IAB’s  2024 Digital Ad Spend & Strategy Report (*)

Per a recently published Portada survey of brand marketers and media buyers at agencies, video advertising is the preferred investment over the next 12 months, higher than Martech and multicultural marketing overall.

3. Advertising Upfronts 2024: Higher CPMs

Higher CPMs are increasing video advertising revenues. CTV CPMs, particularly for owned and operated properties, can be higher than US$30, while linear TVs lie approximately US$10 below CTV CPM levels. Generally, video advertising will also command a premium because of its enhanced targeting and measurement options and its potential for interactivity, e-commerce, and attribution.

TV and CTV ad inventories will decrease by 24% over the next four years, due to the migration from linear to digital where fewer ads are being served.

CPMs of TV Advertising (including CTV) will increase. Brian Wieser, Principal and Analyst at Madison and Wall, explains that the rise in CPM is the decrease in ad inventories. Wieser expects  TV and CTV ad inventory to fall by 24% over the next four years. This will primarily be due to the migration from linear to digital, where fewer ads are being served. As Wieser explains, “The critical issue for advertisers to be mindful of is that streaming ad loads account for only around 3% of total time spent with streaming TV, rising to more like 4% with the inclusion of Amazon Prime Video Ads and the growth in ad-supported tiers offered by SVOD services.  By contrast, linear TV’s ad inventory accounts for around 20% of the time spent with those media owners.   No matter how much streaming grows, it can never compensate for lost linear ad inventory so long as ad loads remain light and consumers exhibit preferences for ad-free options for the biggest service (ie Netflix).  I believe these preferences will hold largely because in an on-demand world, the choice to consume content is highly “intentional”; thus, advertising is much more of an interruption and less tolerated.”

4. AVOD and It’s E-Commerce Connection: Amazon Goes Shoppable Video 

During its Advertising Upfronts debut presentation at Pier 36 in New York City, Amazon Ads unveiled an expanded suite of new interactive and shoppable ad formats for Prime Video with remote-enabled capabilities for living room devices. These formats go far beyond QR codes, making it easier for viewers to connect with brands while enjoying premium streaming entertainment. In the upcoming broadcast year, brands can use shoppable carousel ads to help viewers browse and shop multiple product variations on Amazon during ad breaks in shows and movies on Prime Video. Brands can also use interactive pause and brand trivia ads in Prime Video TV shows, movies, and live sports. The introduction of living-room remote capabilities significantly expands the opportunity for advertisers to use interactive formats across the vast majority of content on Prime Video, wherever it’s streamed.

5. Advertising Upfronts: Strong Multicultural Component 

Both in the NewFronts and Advertising Upfronts, diverse audience-specific advertising offerings played an important role. Donna Speciale, President of U.S. Advertising Sales and Marketing at TelevisaUnivision, took the stage at HK Hall in New York City, which was transformed into “Casa Cultura,” an embodiment of the vibrant and passionate audience the company claims to serve exclusively. NBC Universal’s Telemundo held its upfront inside Hudson Yard’s The Shed’s eight-story glass-encased space  Telemundo focused its presentation on its recent ratings wins over its rival TelevisaUnivision;  “We are known for being innovators, and filling the void of content to represent Latinos from all walks of life,” said Cesar Conde, the head of the NBCU News Group. “No other media company can do that because we are the only ones who create content by us Hispanics, for us Hispanics.”  TelevisaUnivision, Telemundo and others are betting on high Hispanic AVOD (Advertising Video on Demand) growth. Check out this article to learn more: Hispanic AVOD: Upfront Players Bet on Growth (

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