Upfront Week Lowdown: TV Networks Fight for Relevance as Streaming Dominance Grows

For years during May’s Upfront Week, television network executives have trotted out stars to sell advertisers on why good old-fashioned linear TV is the best place to spend marketing dollars. That pitch has become harder to make as the number of linear viewers has dwindled and the companies that own those networks have reorganized to prioritize streaming. But this year, they might not even try. What was once the enemy is now being welcomed as the roommate. Over the last year of pandemic-accelerated changes in the industry, there has been an explosion of streaming services, many owned by the same companies that run NBC, ABC, CBS and some of big cable networks that will take the virtual stage this week. Those companies (at least those with prized streaming services) are now the ones pushing the migration of ad dollars toward digital. “What we’re trying to do is persuade advertisers to bring more of their investments over to our streaming services,” one network executive told TheWrap. “We feel like there is a lag in terms of the investment pattern.” Streaming is still dominated by the likes of Netflix and Amazon, along with the biggest newcomer in Disney+. All three of those...

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