The ratings may be down, but total spend at the Upfronts increased again this year.

Total ad spend at Upfronts:
1) 2017–18 — $19.7B
2) 2018–19 — $20.8B (↑ 5%)

75% of national broadcast ad spend occurs at Upfronts.

Quick math:
1) Ratings — ↓ 8–9%
2) Total spend — ↑ 5%
3) Average CPMs — ↑ 10–15%

Upfront ad spend by year (% growth YoY):
1) 2008–09 — $16.8B (↑ 1%)
2) 2009–10 — $14.7B (↓ 13%)
3) 2010–11 — $16.6B (↑ 13%)
4) 2011–12 — $17.9B (↑ 8%)
5) 2012–13 — $18.7B (↑ 4%)
6) 2013–14 — $19.2B (↑ 3%)
7) 2014–15 — $18.4B (↓ 4%)
8) 2015–16 — $17.8B (↓ 3%)
9) 2016–17 — $18.6B (↑ 5%)
10) 2017–18 — $19.7B (↑ 6%)
11) 2018–19 — $20.8B (↑ 5%)

More #1: ‘It’s still TV money’: Confessions of a TV and digital ad buyer

More #2: Turner Finishes Its First Upfront Under AT&T With Double-Digit CPM Gains