Netflix, which now has commercials for sale, pounced on CBS’ traditional slot that closes the traditional week of advance broadcasts in May.
The streaming giant, which introduced the advertising tier in November, will host ad buyers at the Paris Theater in New York on May 17. Paramount Global, the parent company of CBS, which has continued the company’s Carnegie Hall advance tradition, has decided to vacate the venue this year at the end of what has always been known as advance broadcast week. The company will instead focus on more intimate engagements with advertising clients.
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Of course, broadcast has morphed into something more mixed beforehand, with presentations that have included cable and a bunch of digital and streaming for years. But they still have a place in the hearts and calendars of the decision makers who control billions of advertising dollars.
Netflix took over the lease of Paris in 2019 and used the iconic single-screen theater next to the Plaza Hotel to screen a range of films and series. Of course, many of them are Netflix originals and the site often hosts premieres, but it is also a kind of repertoire house where directors can program works that have influenced them, for example. During the first week, of course, there will be no talk about cinematographic art, but about the realities of the trade. After insisting for years that it would never accept advertising, Netflix folded a year ago due to deteriorating financial results. He didn’t indicate any early numbers for the $7-a-month level, but many Wall Street analysts see it developing into a multibillion-dollar contributor to total revenue by 2025.
Another tech giant, YouTube, has long been a presence during NewFronts, the tech-focused advertising event held in early spring, though last year was the digital video destination’s first appearance during the traditional upfront week. Although Paramount bailed, NBCUniversal has committed to an event that will begin the week of May 14 at Radio City Music Hall. It is unclear what the other players intend to do. Last year, Disney wove messages about Disney+, Hulu and ESPN+ into a broader framework about its many linear brands. Warner Bros. Discovery took over from the former WarnerMedia and Turner networks during the first week of last year and occasionally complimented HBO Max and Discovery+. The CW is under new ownership at Nexstar Media Group, and given the frugal atmosphere established by the new parent, an event reminiscent of past releases seems unlikely.z
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