Gold Medal CTV | AdExchanger

"Twenty million Americans are tuning in each day to the 2026 Winter Olympics in Milan. Many of them are streaming the Olympics, too. Viewership on NBC's streaming platform, Peacock, has exceeded the past two Olympics combined. Clicking on highlights of a favorite Olympic sport feels refreshing for those who grew up at the mercy of whatever cable feed they could find. And, with the viewing experience, ads are evolving, too."

"AdExchanger Senior Editor James Hercher has noticed that many of these companies - from snack bar sellers to toilet-paper hawkers - are trumpeting their reductions in ad spend, which they say are happening without a reduction in ROI. For example, Pepsi cut its marketing spend by $500 million in 2025. P&G and Mondelez ran enough promotions to get investors asking questions, though P&G said promotions are often cheaper than marketing cost."

"It's possible media is becoming more efficient, but when big players cut budgets, it affects the rest of the online ad industry. And it's also possible that ads are on the chopping block, as these companies seek efficiencies due to changes in spending from their customers. For example, multiple CPG companies cited changes in spending among Hispanic consumers during the final quarter of the year. Which coincides with an immigration crackdown in America that has left citizens and noncitizens alike fearful of running errands, including shopping for the products sold by these companies."

Twenty million Americans watch the 2026 Winter Olympics in Milan each day, with many viewers streaming on Peacock. Peacock streaming viewership has exceeded the past two Olympics combined. Connected TV viewing provides on-demand highlights and more native, creative ads, replacing older "Be Right Back" live feeds. Several CPG companies reported reduced advertising while claiming maintained ROI, including Pepsi's $500 million marketing cut in 2025. P&G and Mondelez increased promotions, which P&G says can be cheaper than marketing. Large-brand budget cuts ripple through the online ad ecosystem amid Hispanic spending shifts and a K-shaped economy affecting demand.

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