Advertising spending trends are improving after the initial novel coronavirus pandemic hit, with money "coming back faster" than initially expected, Discovery president and CEO David Zaslav told an investor conference on Tuesday. "In the U.S., things are getting better," with advertising scatter market trends "improving" and cancellations looking "much better than we thought" for the third quarter, he said.
Meanwhile, the ad market outside the U.S. has been "pretty tough, but it is getting better," with sequential trends improving "in a meaningful way," except for Latin America.
Discovery management previously said its U.S. TV advertising revenue was trending down 20 percent in April, while May and June were looking somewhat better at the.