Most media buyers say advertising spending cuts may fall in the 5% to 8% range for this year’s upfront, smaller than the decline of as much as 20% predicted by some analysts for prime time, the Hollywood Reporter says. While last year’s upfront grabbed around $9 billion, media buyers are expecting this year’s market will take between $8.2 billion to $8.5 million, the trade paper says.
—Aimee Picchi