The Hollywood strikes caused advertising on films, TV shows and streaming services to plunge 22% year over year to $2.9 billion between May and October, as studios were forced to reshuffle their content slates and spread out their backlog of programming, new data from MediaRadar reveals.
But the impact on television and streaming services was more severe than for films, which the ad intelligence firm attributed to more available inventory to advertise due to an influx of movies produced immediately after the COVID-19 pandemic.
“Even if people were willing to go back to theaters a year ago, there weren’t that many films coming out because they had been shut down for a couple of years in 2020 and 2021,” MediaRadar CEO Todd Krizelman told TheWrap.
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