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CBC/Radio-Canada to Cut Programming Costs and Eliminate 800 Jobs
Faced with a $C125 million ($92.1 million) budgetary shortfall for its fiscal 2024-2025 year, the CBC/Radio-Canada has announced that it will reduce programming costs and cut approximately 10% of its workforce. The corporation said that the belt-tightening measures are as a result “of the same structural factors affecting all media companies in Canada,” including rising production…
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U.S. Ad Market Spend to Slow to 4.1% in 2024, Down from 5.7% in 2023
According to GroupM’s year-end worldwide forecast, ad spending for TV in the U.S. is expected to fall 5.1% to $52.3 billion in 2024, excluding political ad spending, which is expected to reach a record $15.9 billion. Ad spending on traditional TV in 2024 is expected to drop 10.7% to $45.7 billion. CTV, in comparison, is expected…
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The Future of TV: Re-Shaped, Re-Defined, and Still Relevant
The “television experience” has morphed into the more broadly defined “viewing experience,” extending to mobile and connected devices, new streaming services, and multiple screens. Accelerating these trends are a changing business landscape, IP and cloud workflows, and AI and data-driven analytics that will re-shape content creation. But whichever way it’s defined, created, or consumed, quality…
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OpenX Announces TV+ Initiative
PASADENA, Calif.—OpenX Technologies, Inc., a major omnichannel supply-side ad platform, has launched TV+, an initiative that it hopes will unlock the full potential of CTV by combining the most powerful aspects of linear and programmatic buying models.In launching TV+, OpenX noted that in the current CTV landscape, buyers aren’t able to efficiently buy in biddable…
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FAST is Growing Fast
A new report from Xumo and Comcast Advertising released this week shows that the FAST (free ad supported TV) trend is showing strong growth among both advertisers and viewers. According to the joint report, “The 2023 State of FAST,” from Xumo—the streaming joint venture between Comcast and Cox—advertisers are increasingly including FAST in their strategies in…
