The upfronts, an annual series of meetings when advertisers commit ad spend in advance of programming scheduled for later in the year, have been losing relevance for some time. Advertiser Perceptions’ latest survey is just another indicator of how the ad-buying process for programming is evolving amid the rise of streaming, shifting schedules and crunched budgets.
Last year’s upfronts period was affected by recessionary fears and global unrest stemming from the Ukraine war, as well as ongoing concerns about media transparency and fragmentation. Those issues remain front and center in 2023 and could have an even bigger impact on advertising plans. While 51% of advertisers increased their upfront spending last year, only 27% in Advertiser Perceptions’ survey intend to increase their spending this year.
