Broadcast TV - Is 2024 The Year of the Comeback?

In the age of endless streaming options, social media platforms, and digital advertising routes, it’s become trendy to pick on broadcast television. Actually, it has been for years. The talk of TV’s decline has been a hot topic for those in media, and the truth is, it has been affected to some degree by all of the above fragmentation.

However, broadcast has been surprisingly resilient. But why? Besides the obvious answers of political advertising and the NFL, why is broadcast still a top option for many major advertisers? Here’s why broadcast has always remained an effective marketing strategy compared to some other forms of media:

1. Wide reach makes broadcast the ideal medium for brands seeking recognition and awareness.

2. High impact emotional connections and storytelling. I can still remember (and recite) TV commercials from my youth (and I’m no spring chicken).

3. Credibility, because broadcast TV (and news in particular) is the most trusted platform there is.

4. Broadcast yields higher purchase intent among viewers. A recent TVB study showed that viewing a commercial on a TV has 2.2x higher recall and 1.3x higher purchase intent among viewers. Basically, the larger the screen, the more impactful it will be.

5. Local audiences matter. Aligning your brand with local news has proven to increase the brand’s credibility.

Marketing strategy aside, 2024 may be the year of the comeback for broadcast TV. These three factors have aligned at the same time and could provide a significant boost to the business:

1. Primetime TV is back! Q1 will see the return of first-run prime programming. Audiences are starved for new content, and the writers' strike may have given broadcast an unexpected boost. It’s bursting with new, high-quality shows - not just reality TV!
2. Political is here. 2024 will see the return of heavy political spending. Politicians regularly flock to broadcast because it’s where the voters are. Adults 50+ represent the highest group of voters in the US, and they know where to find them. Expect heavy spending in the months leading into the general election.
3. Live sports are back, and they are KING! Over 115 million people viewed last year’s Super Bowl. NFL games represented 19 of the top 20 broadcast programs in 2023. More and more broadcast stations are partnering with NBA and NHL teams due to the Bally Sports bankruptcy. The Phoenix Suns, Dallas Mavericks, and others have partnered with local stations to carry games in their local market.

These factors alone will help stations across the country and add to their bottom line in 2024. Here’s to a remarkable year!