Ad spending nationwide on broadcast television fell 13.2% in September from the same period a year ago, according to new figures from Standard Media Index, and Adweek reports that the downturn is attributable to a big decline in advertising for fantasy sports.
In September 2015, the report notes, “revenue swelled because of the freewheeling spending of dueling fantasy football companies DraftKings and FanDuel. Those companies — which rose quickly last year and fell even quicker — spent nearly $100 million less last month across broadcast and cable than they did the previous September.”
DraftKings spent $65 million and FanDuel spent $53 million on U.S. advertising in September 2015, the story reports, citing data from MoffettNathanson. “They accounted for 3 percent of all advertising revenue across 14 broadcast and cable networks for the month,” Adweek adds.