Key Takeaways from LWD’s Q4 Marketplace Conditions Report

As we head into the final stretch of 2024, LWD is here with the insights you need with our Q4 Marketplace Conditions Report! With July 2024 bringing 2.3% MoM and 3.5% YoY increase in overall TV usage (thanks to Olympic coverage), the opportunities for advertisers are growing.* With the growth in viewership comes greater reach and engagement with diverse audiences across both linear and streaming platforms. 

LWD’s comprehensive review of the Total TV landscape can guide your media strategies through the remainder of the year, as we cover viewership trends, ad spend forecasts, and projections for the ever-evolving streaming environment. Here’s some key takeaways from our full Q4 Marketplace Conditions Report: 

Steady Growth in Live Sports & News

Live sports and news dominated the 2024-2025 Upfront market, driving strong demand and higher prices. Media companies reported double-digit increases in sports deals, and women’s sports saw triple-digit YoY growth in ad spend.† The NFL continues to be a powerhouse, scoring big in the 2023 season averaging 17.9 million viewers—up 7% YoY.‡  This has translated into the 2024 season with NBC’s Sunday Night Football averaging 21.4 million viewers and ESPN’s Monday Night Football seeing its highest ratings since 2000.‡ In addition, it’s important for advertisers to understand that a staggering 85.3% of NFL matchups still air on network television—mostly on CBS, Fox, NBC, and ABC—far outpacing other major American sports leagues that often rely on regional or cable channels.~

Meanwhile, political ad spending is projected to significantly impact news networks through Election Day, driving viewership spikes of 20-70% across networks like Fox News, MSNBC, and CNN.§

Streaming Sees Efficiency Gains

Streaming continues its growth trajectory, accounting for 41.4% of total TV viewership as of July 2024.* Increased competition and inventory expansion, such as Amazon Prime Video’s introduction of ads in January 2024, are driving CPMs down by 10%.† This creates opportunities for advertisers to achieve greater efficiency while maximizing their reach across platforms. The summer months saw record streaming with:

• – YouTube captured 10.4% of TV viewing, becoming the first streaming platform to exceed 10%.*
• – Peacock usage surged 33%, bolstered by Olympic coverage and popular shows like Love Island USA.*
• – Amazon Prime Video and The Roku Channel saw double-digit growth in July.*

Political, Healthcare, & Holiday Retail Lead Q4 Ad Spend

With Election Day quickly approaching and the holiday season promotions ramping up, Q4 will see heavy ad spending across several key categories. Political, healthcare, and retail will lead the charge, with open enrollment campaigns flooding the marketplace through early December in addition to growing holiday and retail advertising. News networks like Fox, CNN, and MSNBC will be tight with political ad buys, while entertainment, family-friendly and kids’ networks will see holiday promotion dollars increase during daytime and weekend dayparts.

Continued Expansion in TV Ad Spend

Overall TV ad spend has seen a 3% increase through August 2024 compared to the same period in 2023.||  Linear TV still captures the majority share of ad dollars (67%), but streaming is rapidly growing, currently accounting for 33% of total TV ad spend.** This trend is projected to grow, with streaming expected to capture 50% of TV ad spend by 2028.**

With CPMs declining in streaming and linear TV holding steady, advertisers have the opportunity to create a blended Total Video strategy with full-funnel ROI effects.

Prepare for the busiest time of year with our strategic insights and in-depth analysis by downloading the full report below!