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Traditional Media Companies Took Ad Revenue Hit in April

Author: Jon Lafayette
Publication: Broadcasting & Cable

The COVID-19 pandemic chopped ad spending by 35% in April and traditional media companies suffered the brunt of the damage, according to research company Standard Media Index.

All of the major media companies took double-digit drops from a year ago, with AT&T’s WarnerMedia registering the biggest drop of 50.8% as its cable networks lost the NBA and NCAA Men’s Basketball Tournament (Turner Sports had the Final Four and the championship game this year) to the virus.

Sports was also a factor as Fox’s ad revenues were down 46% and ViacomCBS shed 42.8%.

The Walt Disney Co., which owns ESPN, dropped 33.3%. Comcast’s NBCUniversal, which carries the NHL’s Stanley Cup playoffs, was down 33%.

Standard Media Index is now a Guideline company

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