Unable to count on youngsters parking themselves in front of the TV for shows like SpongeBob SquarePants, Madison Avenue is accelerating the move of money out of Bikini Bottom. Nickelodeon is on track to pull in $862.9 million in ad revenue this year, down 11% from $974.8 million in 2014, according to SNL Kagan. That’s nearly double the previous year’s 6% slide.
Viacom’s Nickelodeon plans to launch a video subscription service this spring, joining the chase for younger viewers who increasingly are watching programming on digital devices.
