Top 4 Media Landscape Insights- March

Stay on top of today’s constantly changing media environment with DirectAvenue’s Top Insights. We give you specific network updates and emerging media trends in a digestible format.

March 1, 2024

1. Walmart ad sales jump 33% to $3.4B– While Walmart’s acquisition of Vizio for $2.3 billion grabs attention, the retailer’s latest financial outcomes provide further details on its expansion strategies. Walmart’s overall performance exceeded predictions, with a 5.7% increase in fourth-quarter revenue to $173.4 billion, up from $164 billion in the same period of 2022. In the United States, comparable sales grew by 4%. Additionally, global ecommerce sales surged by 23%, crossing the $100 billion mark for the entire year.
2. FuboTV sues Disney, Fox, WBD- Fubo TV, a virtual pay TV provider specializing in sports content, has initiated legal action against Walt Disney, Fox Corp., and Warner Bros. Discovery, alleging “anti-competitive practices” in response to a new sports streaming service proposal. The lawsuit aims to prevent the launch of the proposed channel, with Fubo seeking a jury trial and punitive damages. David Gandler, cofounder/CEO of FuboTV, notes, “Each of these companies has consistently engaged in anticompetitive practices that aim to monopolize the market, stifle any form of competition, create higher pricing for subscribers and cheat consumers from deserved choice.”
3. Big NFL pass rush: Amazon to pay $120M for one game– Possibly, a single NFL game could propel a streaming platform to new heights. The competition in the streaming market will determine if any platform can outperform its rivals. Following Peacock’s significant investment of around $110 million for an exclusive NFL “wild card” playoff game on January 14 featuring the Kansas City Chiefs and Miami Dolphins, Amazon is now poised to follow suit. Peacock’s broadcast attracted 23 million viewers, making it the highest-viewed live event in U.S. history. Amazon aims to surpass this achievement.
4. TV station ad revenue projected to rise 14% to $25B– According to S&P Global Market Intelligence, total advertising revenue for U.S. TV stations, including core national, local advertising, and digital, is projected to rise by 14% to $24.8 billion this year. This growth is primarily attributed to an anticipated surge in political advertising. S&P forecasts a 10% uptick in political ad spending for TV stations, reaching approximately $3.94 billion. Digital advertising revenue for TV stations is expected to remain steady at around $3.23 billion, similar to 2021 levels.