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Paramount is being upfront about its upfront week exit.
Top line
Today, Paramount has confirmed it won’t be returning to upfront week in 2024. Instead, the company will once again host a series of “high-impact, intimate upfront gatherings” for each of its agency partners and their clients across New York, L.A. and Chicago, a Paramount spokeswoman told Adweek. The events are set to begin in late April.
Between the lines
Paramount shocked the TV industry in 2023 by skipping its decades-long upfront week event at Carnegie Hall, but this announcement doesn’t come as a surprise.
“The feedback from last year’s approach was incredibly positive,” the spokeswoman said. “And we’ll be building on the success of the format with a fresh new experience that deepens our connection with the advertisers we serve.”
The company also had a successful upfront season without its single lavish event, closing talks up low to mid-single digits in dollar commitments.
Following Paramount’s upfront gatherings, ad sales chief John Halley told Adweek the company is not “going to go back to the old way of doing things.”
Adweek had the exclusive first look inside Paramount’s 2023 upfront dinners, as the company transformed Chelsea Factory in New York to showcase its “Popular Is Paramount” brand positioning.
In addition to the immersive displays showcasing Paramount’s IP, the gatherings featured Paramount talent as well as musical entertainment.
Bottom line
The announcement comes as news of the TV upfront revs up.
Recently, Warner Bros. Discovery announced it would return to upfront week, ending any speculation that the company could also exit.
In addition, upfront week presenters YouTube and Disney have also already announced 2024 plans.
