2025-2026 Upfronts: Sports and Streaming Shine Amid Economic Caution

Although the 2025–2026 upfront negotiations are not yet fully complete, by early August most major network groups—including NBCUniversal, Disney, Fox and Paramount—had announced the close of their deals. While broader macroeconomic uncertainty contributed to a slower overall upfront season, live programming—particularly sports—stood out as a clear area of strength.

NBCUniversal
NBCUniversal was the first to close, reporting its highest ad sales volume in company history, largely driven by live events. The company will feature three major event tentpoles this broadcast year: the Milan-Cortina Olympics, Super Bowl LX, and the FIFA World Cup. NBCU says these events collectively broke previous sales records. Additionally, the NBA returns to NBCU this season, which it credits for a 45% year-over-year increase in live sports ad volume and a 20% uptick in new sports advertisers across its portfolio. Nearly one-third of NBCU’s upfront commitments went to Peacock.

Disney
Shortly after NBCU, Disney announced it had finalized its upfront with strong gains in sports and streaming. Sports commitments totaled nearly $4 billion, with growth across Monday Night Football, College Football, the WNBA, and NCAA women’s basketball. With Disney acquiring rights to “Inside the NBA” and the NBA Finals, the company saw single-digit growth in those areas. Streaming inventory made up around 40% of Disney’s upfront volume, fueled by ESPN and its direct-to-consumer offerings.

Fox
Fox also closed its upfront with solid performance in both sports and news. Sports advertising saw double-digit growth, with commitments exceeding $2 billion (excluding the 2026 World Cup). Fox News also delivered double-digit ad volume growth, supported by record audiences. Meanwhile, Tubi posted over 35% year-over-year ad growth.

Paramount
Paramount stated its upfront negotiations are “virtually finished,” with results largely in line with last year—suggesting flat or slightly declining volume overall. However, its sports programming experienced double-digit gains in both volume and pricing, and streaming accounted for 30% of upfront ad sales.

Amazon, Netflix, and More
While traditionally not major players in the upfront marketplace, both Amazon and Netflix have significantly expanded their presence, driven by growing investments in live sports and premium content. Amazon’s Prime Video, anchored by NFL Thursday Night Football, was nearly sold out during this year’s upfront cycle. The addition of NBA/WNBA rights, alongside a slate of premium programming and advanced ad solutions, helped Amazon secure over $1.8 billion in advertising commitments. Netflix, meanwhile, reported a more than 2x increase in upfront ad sales, fueled by its vast library of premium content, growing lineup of live events—including NFL games—and a strong focus on sponsorship opportunities and ad innovation.

Smaller cable networks, such as A&E Networks and AMC Networks, are facing greater uncertainty than their larger counterparts. Without the draw of live sports or major tentpole programming, these networks are encountering softer demand and increased pricing pressure during negotiations.

Implications for Advertisers
Despite the headline successes, the industry remains cautious. Analysts still expect declines in traditional TV ad spending and only modest or flat growth in streaming, barring resolution of broader trade risks. Many brands, especially in retail, automotive, CPG, and consumer electronics, are reducing media commitments and seeking more flexible, performance-based deals.

While streaming continues to be a strong category in all major network groups, its share of total upfront commitments remains roughly unchanged from recent years. This suggests that while advertisers still intend to invest in streaming, they’re showing more restraint during the upfront, opting instead for
flexibility—unlike the firm commitments often required for live sports and prime time inventory.

Navigating Audience Measurement
Another factor that slowed this year’s upfront negotiations was the industry-wide shift to Nielsen’s Big Data + Panel methodology. Both advertisers and networks had to navigate fluctuating audience metrics, making it more difficult to reach consensus on pricing. For an industry long dependent on
traditional panel-only data, adapting to the new measurement posed a challenge, especially when trying to standardize deals. Many noted frustrations with inconsistent and erratic fluctuations in the data, which disproportionately affected smaller networks and those serving multicultural audiences. In contrast, larger network groups saw their variations somewhat even out.

At Rain the Growth Agency, we understand the value of a total market approach—leveraging both the upfront, scatter, and direct response marketplaces to align with each client’s unique goals. While premium live events still benefit from upfront commitments, most inventory, especially in streaming, is
increasingly available outside the traditional upfront window. As the market evolves away from long-term deals toward more agile, data-driven
strategies, staying prepared and adaptable is more critical than ever.

Sources: Digiday, Adweek, NBCUniversal, Ad Age, MediaPost

This article is featured in Media Impact Report No. 68. View the full report here.