Broadcast ad revenue down nearly 30 percent due to coronavirus

What was supposed to be a stellar year for advertising revenue because of major events like the European Championship, Olympic Games, and the Eurovision Song Festival lined up, turned into a bit of a disaster due to the coronavirus crisis. Halfway through 2020, those selling advertising space sellers are facing substantial revenue cuts, NOS reported.

When Dutch competitors perform well, top sporting events like the European football championships can bring in up to 15 million euros in ad revenue.

Due to the coronavirus, nearly every major event was canceled and large companies slashed their budgets for advertising. That resulted in fewer ads on TV, radio and billboards.

The organization that sells advertising time for public broadcasting, De Ster, saw income from television and radio ads drop by nearly 30 percent compared to the same period later, from 94.5 million euros last year to 68.5 million this year.

Frank Volmer, who leads De Ster, said that viewers noticed the reduction in advertisements which resulted in some commercial breaks disappearing completely. "The coronavirus crisis had a major impact. Many advertisers cut their budgets," he said to NOS.