CBS joins other networks in cancelling in-person upfront presentations amid coronavirus concerns

CBS Television Studios in Los Angeles

CBS is one of a number of television networks that have cancelled their planned upfronts because of concerns over the coronavirus.

Deadline reported last week that CBS, NBC, WarnerMedia, the CW, Discovery, and even Disney have all cancelled their traditional upfront presentations, where network executives woo potential sponsors in a bid to secure advertising buys for the coming season. The presentations were due to take place in May, and most networks now are looking at some form of digital presentations.

The move last week was forward-looking, but there’s a good chance they would have had to cancel anyway, had the networks not done it preemptively. As of yesterday evening, The New York Times reported that New York City, where the upfronts usually take place, should prepare for the possibility of an imminent “shelter in place” order. Cases of COVID-19, the disease caused by the novel coronavirus, topped 1,500 in the state on Tuesday, up from 950 on Monday.

CBS has tended to do well in upfronts, with last year’s results growing in double-digits on the year prior. And it’s a good thing too, since one of the key pillars of the ViacomCBS post-merger strategy is enhanced advertising opportunities. But for now, uncertainty in the markets and an upfront playing field that’s changed significantly from prior years, will provide a challenge to a company already under pressure from stockholders.