In the fourth quarter of 2025, the top six broadcast and cable networks saw their collective ad revenue fall 3% to $6.5 billion, even as they aired more commercials to a larger audience, according to data from EDO Ad EnGage. The paradox signals deepening pricing pressure on traditional television advertising.
Broadcast blues: The pain was felt most acutely by the legacy broadcasters. Networks like NBC, CBS, and ABC saw their ad revenues fall between 2% and 7% during the quarter.
The live exception: Unsurprisingly, channels built around live, must-see events were immune. ESPN, fueled by sports, saw revenue climb 8%, while Fox News posted a 10% gain. The results highlight a larger viewer migration, with a Q2 Nielsen report showing broadcast viewership plummeting while ad-supported streaming continues to grow.
The Q4 numbers are the latest evidence of a fundamental shift. Audiences—and the ad dollars that follow them—are cementing their move from linear TV to streaming platforms. Despite the overall downturn, not all advertising is in decline. Resilient legacy categories, like car and home insurance, remain a strong source of revenue for the networks.
