Upfronts Survey: TV Spend Not Going Anywhere
While we’ve been hearing a constant drumbeat of “recession” talk since last year, it may not have the presumed effect on the TV ad market – at least not for the 2023 Upfronts, anyway.
A recent survey from iSpot revealed 2023 upfront plans for over 500 brand and agency professionals, sharing insights around TV spending plans for 2023-24. One of the big takeaways is that 74% of respondents expected to spend at least as much as they did last year. Of those, 21% said they were planning to commit “a bit more” or “much more” than they did during the 2022 Upfronts.
In conjunction with that, the survey also indicated that 78% still expected overall marketing budgets to increase (34%) or remain the same (44%), year-over-year.
