Q2 Local+National

Week-to-Week Pacing Changes

Q2 had a great week, picking up 0.5 points and showing growth across all three months:

• April increased by 0.6 points.

• May added 0.7 points.

• June gained 0.3 points.

Most categories participated in the growth. Looking at May specifically, the only groups to show declines were CW, MyNet, and Indie stations, along with the West region.

Forecast Updates

There might be something to this late-breaking business theory after all: this is the first week to show pacing improvements across all three months of the quarter since it began. The improvements were modest and didn’t lead me to materially increase my forecasts, but they do give me more confidence that the quarter will finish at least in line with my current outlook — and, if the lateness continues, potentially slightly stronger.

We also heard from a small market about a furniture advertiser reporting weaker-than-ever sales, driven by the war in the Middle East, high gas prices, and tariffs. I’m sure other categories are facing similar challenges as these conditions persist. At a minimum, it seems clear that many advertisers are waiting until the last minute to place business as a result.

I can’t promise these improvements will continue — this could still prove to be a temporary blip. And it remains a softer quarter than expected; with roughly 85% of the money already in, it will be difficult to move the needle significantly. Still, we’ll take a positive week and look for more to come.

Here are this week’s forecasts:

Q2 vs. 2025:

• April: -13.1% – up 0.4 points from last week

• May: -11.7% – flat to last week

• June: -3.6% – flat to last week

• Q2 Total: -9.6% - up 0.1 points from last week

2026 vs. 2025:

• Q1: -2.0%

• Q2: -9.6%

• Q3: -10.5%

• Q4: -13.7%

• 2026: -8.9%