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Streaming dominates TV ad dollars for the second year in a row, but eyeballs are getting cheaper

New data from Media Dynamics shows streaming dominating television’s ad spend for the second year.

8/14/25 1:44PM

Ads are still relatively new to streaming, but the business is already dominant in terms of dollars spent.

Streaming scooped up about 43% of advertisers’ television spending at the industry’s “upfront,” new data from tracking firm Media Dynamics shows. Per the firm, advertisers spent $13.2 billion on streaming ad space during the annual event and selling period, when networks sell the majority of their upcoming commercial space to advertisers.

The total marks a $2 billion increase from last year.

Meanwhile, both broadcast and cable TV saw pullback from advertisers, as viewers continue to spend the majority of their time on streaming services like Netflix and YouTube. According to the Nielsen Gauge, streamers scooped up 46% of television viewing time in June, compared to 23% for cable and 19% for broadcast.

Ironically, live sports and appointment viewing (once linear TV’s bread and butter) helped drive spending for streamers. Netflix on Thursday said it sold out the entirety of its in-game inventory for its two NFL Christmas Day games this year — the second consecutive year advertisers have gobbled up the spots. Netflix reportedly pays about $75 million per game for the rights.

Though Netflix doesn’t report its ad revenue, the company said it received double the number of commitments from advertisers this year. NBCUniversal, which will stream the Super Bowl this year, last month said it’s received 15% more ad commitments this year.

Advertiser hunger for sports has sent television rights deals surging. Paramount Skydance this week struck a seven-year deal to stream UFC fights for about $1.1 billion annually, double what Disney’s ESPN previously paid to broadcast the contests.

As streamers race to build up their ad businesses, the swelling of actual ad space has sent rates down across television categories. Per Media Dynamics, the rate streamers charge to reach 1,000 viewers has fallen by about $8 since the 2023 season.

With a roughly 15-year head start in advertising, YouTube is still firmly in the lead. Last month, the company reported $9.8 billion in ad revenue in its second quarter. That’s close to Netflix’s total revenue, including subscriptions, which was $11.08 billion in the same period.

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Hims to stop offering copy of Wegovy pill following FDA scrutiny

Hims & Hers said it has decided to stop offering its newly launched copycat version of Novo Nordisk’s Wegovy pill, after the telehealth company drew criticism from the Food and Drug Administration.

“Since launching the compounded semaglutide pill on our platform, we’ve had constructive conversations with stakeholders across the industry. As a result, we have decided to stop offering access to this treatment,” Hims wrote on X.

Shares of Hims are down double digits in premarket trading on Monday, while Novo Nordisk ADRs are up more than 6% as of 5:20 a.m. ET.

On Friday afternoon, the FDA said it would take “decisive steps” to restrict GLP-1 compounding. Department of Health and Human Services General Counsel Mike Stuart said on social media Friday he had referred Hims to the Department of Justice “for investigation for potential violations by Hims of the Federal Food, Drug, and Cosmetic Act and applicable Title 18 provisions.”

Hims launched the product last week, a seeming copy of a recently released and patented drug, which immediately drew fire from Novo Nordisk and regulators.

Hims & Hers Comms on X