YouTube Wants the $10 Billion in TV Ad Spend Up for Grabs
Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) thinks it has an under-utilized option for television advertisers looking for a cost-effective way to reach customers during the coronavirus pandemic. It thinks time spent streaming YouTube on television sets is under-monetized, and it could serve as a better way to spend ad budgets previously earmarked for traditional TV. That's why it's ramping up efforts to attract traditional TV ad budgets, according to a report from The Wall Street Journal.
There's a huge shift in television advertising going on right now. Many advertisers are pulling back on previous upfront commitments to television networks, and the upfronts for this fall have been delayed indefinitely with the amount of uncertainty facing the economy and production schedules.
European TV ad revenue fell 50% in April, and the U.S. isn't holding up any better. First-half sales will decline 22% to 29% overall, according to eMarketer, $10 billion to $12 billion below its previous forecast.
Source Fool.com
