It took the Olympics to reverse the auto industry’s TV ad spend drought

The news: Automaker TV ad spending rose 18.3% year over year in Q3, per iSpot, reversing a period of relative decline for the industry grappling with slower sales and high costs.

• The growth can primarily be attributed to the Summer Olympics and start of the NFL season, which drew significant ad spending and emphasized the increasing importance of sports for big-ticket advertisers. In August, automotive TV outlays rose 6.1% year over year.

Auto’s ups and downs: Automaker ad spending has been rocky since 2022’s advertising slump, and tough times have prompted the industry to reexamine its ad strategy.