Ad Spending on Top 6 Streaming Services Dropped 8% to $1.07 Billion: MediaRadar [Next TV]

Ad Spending on Top 6 Streaming Services Dropped 8% to $1.07 Billion: MediaRadar [Next TV]

BY TODD SPANGLER

December 13, 2023 | The advertising slump that has hurt traditional TV networks also impacted the biggest streaming services, according to MediaRadar. MediaRadar said ad spending on six streaming services it tracks — Discovery Plus, Hulu, Max, Paramount Plus, Peacock and Pluto TV — was down 8% to $1.07 billion this year through the end of October, compared to the same period last year.

MediaRadar’s figures do not include advertising newcomers Netflix and Disney Plus, nor do they include Fox’s Tubi, Roku or any of the smart-TV makers.

“Streaming platforms are confronting steep hurdles around ballooning content expenses, password sharing dilution, and an uncertain economic climate. These factors are fueling downstream subscriber and advertising adversities across the industry,” MediaRadar CEO Todd Krizelman said. “As evidence of the challenges, we observed an 8% year-over-year decline in ad spend across six major streaming platforms from January to October 2023. However, the streaming ad market also shows promise — these players alone account for over $1 billion in spend over this period.”

Read more on Next TV.

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