Mar 24, 2020 - Economy & Business

America's new favorite pastime

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Facebook spending $100 million to help news outlets in coronavirus crisis

Photo Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images

Facebook says it is spending $100 million to support news outlets around the world that have been impacted by the coronavirus, the company said Monday.

Why it matters: Whatever Facebook's motivation, this is a much-needed cash infusion at a critical time for the local news industry.

The Olympics and the 2020 election are saving next year's TV advertising sales

Data: MAGNA Advertising; Table: Andrew Witherspoon/Axios

If it weren't for the Olympics and the election next year, TV advertising sales would be down again next year, according to MAGNA, an advertising firm.

Why it matters: Engaged live audiences have become a commodity for advertisers, and they are willing to spend big.

How the coronavirus-driven sports outage impacts TV and advertising

Illustration: Rebecca Zisser/Axios

Without live sports for the foreseeable future, it's unclear what networks like ESPN and FS1 will broadcast in those time slots or what they'll talk about on their studio shows and radio programs during the day.

Why it matters: With so many Americans nesting at home, linear TV viewership was expected to spike. But without sports, streaming platforms, video games and other mediums will likely be the big winners instead.

Go deeperArrowMar 13, 2020 - Sports