Traditional Pay-TV Squeezes More Revenue Out of a Declining Asset

ESPN’s announcement last week about the latest Nielsen ratings showing that this season’s NFL coverage had seen viewing figures decline 9.7 from the 2016 season was startling enough. The follow up revelation that ad revenue had actually increased slightly by 2% over the same period, from $504 million in 2016 to $513 million last year, was a stark reminder of the pay-TV incumbent strategy to increase margins.
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