The TV Industry Will Never Recover From the Coronavirus
Not even a record year for political advertising can rescue the TV business.
When Joe Biden took the rostrum at the Democratic National Convention this past week, some viewers saw the future president of the United States. Others saw an avuncular 77-year-old holding forth on American exceptionalism. And still more saw a threat to their preferred candidate (rhymes with frump).
Media executives saw one thing: dollar signs. The 2020 election will generate some $5 billion in advertising sales this year, according to Magna Global, a 24% increase from 2016. This is the most expensive campaign on record in every respect.