April, the first full month of COVID-19 disruption, witnessed major legacy TV network companies being hit with massive 30% to 50% declines in national TV advertising revenues.
During the month, major TV advertisers significantly reduced advertising on prime-time entertainment and other daypart programs. Contributing to the decline was a lack of live TV sports programming.
WarnerMedia saw the biggest decline — down 50.8% in national TV advertising, according to Standard Media Index. Its networks such as TNT and TBS were hurt by the absence of regular-season NBA basketball and the Final Four and championship games of the NCAA Men’s Basketball Tournament.