Entertainment industry execs attended two LATAM Upfront presentations in New York City on Monday, May 13, as well as another the following day, before the action moved to Los Angeles for the L.A. Screenings.
Monday’s mid-morning events were hosted by Canela, which also sponsored its second annual Upfront lunch, while the evening’s activities were hosted by Telemundo as a complement to the NBC Universal upfront held in the morning at Radio City Music Hall. On Tuesday, May 14, TelevisaUnivision took to the stage.
While the buyers in New York were advertisers, in Los Angeles the buying contingent roaming the Century Plaza hotel starting yesterday, Wednesday, May 15, are content buyers for digital and linear TV outlets, mainly from LATAM. Another international buying contingent from other regions around the world will be hitting the studios starting Sunday, May 19 at Fox. The day before, another group of international buyers will attend Lionsgate’s screenings presentation. The Latins will conclude their screenings at Disney on Wednesday, May 22.
At the Upfronts, the mood was optimistic for linear TV, despite the fact that many advertisers are cutting their TV spend by 50 percent. If a brand is investing 15 percent of its ad budget for television, about nine percent will go to streaming.
For the 2024-2025 season, excluding political advertising, advertisers are expected to invest some $60 billion into traditional and digital television combined.
Live sports are expected to bring viewers to television in droves. Last year, sports accounted for 96 of the 100 most watched broadcasts.
Ad spending for scripted shows will recover after last year’s Hollywood strikes, and the U.S. elections will bring more ad dollars to television. Plus, they will put pressure to commit from advertisers who wants specific time slots.
As for the L.A. Screenings’ indie portion, the market started slow on Wednesday, May 15, but various exhibitors reported that today, the market’s second day, is going to be busy, with many appointments scheduled, and (hopefully) a healthy amount of floor traffic.
Pictured above, Canela’s and Telemundo’s Upfronts, and scenes of the L.A. Screening independents at the Century Plaza.
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