By Marketing Brew Staff
less than 3 min read
Definition:
The television upfronts are an annual series of presentations normally held in mid-May in New York City where television network execs show off new programming and advertising opportunities to a gaggle of advertisers, agencies, and brand representatives, in order to ink billions of dollars of advertising deals made ahead of (or, well, up front) new premieres. It’s historically been characterized as a week of increasingly elaborate presentations, with celebrity appearances, musical performances, and even advertising-related stand-up.
Why the upfronts are important
In exchange for pledging their dollars early, advertisers are typically able to lock in more favorable rates and better pricing instead of waiting for the often costlier scatter market. They’re also typically able to secure premium ad inventory, like presenting sponsorships on tentpole programs.
How the upfronts have changed
The first-ever upfronts presentation was in 1962, when ABC had the bright idea to schedule its new shows to premiere during the same week in the fall. But television and advertising have both changed a lot since the ’60s, and so too has upfronts week.
With new TV programming rolling out year-round and available to watch on demand through streaming services, conversations about upfronts and some broadcaster presentations start as early as January, during CES, the annual consumer electronics show in Las Vegas, and presentations related to the upfronts typically begin in March. Some
Facing pressure from Big Tech, broadcasters and TV platforms increasingly use the upfronts to trot out new data, targeting, and measurement capabilities as much as they show off buzzy new titles. Advertisers, faced with the challenges that come with earmarking millions in advance amid increasing business uncertainties, are pushing for more flexibility in their commitments. Some TV networks, like Paramount, have thrown in the towel on highly produced presentations in favor of more intimate meetings more conducive for deal-making. Streaming giants like Netflix, YouTube, and Amazon have all joined the fray.
Beyond that, come time for glitzy presentations at performance spaces like Carnegie Hall and Radio City Music Hall, many media budget decisions are already done and dusted. But we’re not complaining—we don’t know anyone on Madison Avenue who’d say no to a free Stevie Wonder concert!
