Nets Relax Deadline For Advertisers

TV advertisers are poised to make massive third-quarter option cuts to their network TV commitments of around 25% due to COVID-19 issues — estimated to be in the range of $2.5 billion to $2.7 billion — according to media-buying executives. This would be much higher than the 3% to 4% average pullback that typically occurs in a specific quarter where cancellations are permitted.