Properly negotiated national TV Upfront media buys provide “outs” for advertisers to cancel up to 50% of quarterly media commitments. These “outs” represent advertisers’ best opportunity to roll back spending commitments to both save cash as well as align advertising to consumer demand.
The impact of the Covid-19 pandemic has caused advertisers to seriously exercise these options. In the absence of “seeing this wave” of virus-related impacts on their businesses, advertisers likely missed the February 1, 2020 option date to impact April – June 2020 investments. May 1 was the option for most July – September 2020 spend.
For advertisers, like many of AMI+P’s clients, whose Upfront buys align to a calendar year, they will have an additional option date of August 1, 2020, to impact their October – December 2020 buys.