CBS (US) parent Paramount Global will bypass its traditional upfront presentation at Carnegie Hall in favor of a series of smaller ad agency meetings next spring.

John Halley, COO of advertising revenue and executive vice president of advanced marketing solutions at Paramount Global, told staffers in a Dec. 19 memo that the company will hold "high-impact intimate gatherings" in April 2023 with its major agency partners and their clients.

Halley succeeded media veteran Jo Ann Ross as the company's ad sales leader in September. Ross had been a long-time staple of the CBS upfront, often dressing up as a character from one of the shows.

During the upfront, content providers look to sell linear and digital ad inventory to media agencies and marketers ahead of the new TV season.

Paramount Global's decision follows NBCUniversal Media LLC announcement last week that it will participate in the IAB Newfronts on May 4, 2023, and will again host its annual upfront presentation at Radio City Music Hall on May 15, 2023. The company's Spanish-language programmer, Telemundo Network Group, LLC, will host its upfront that evening.

The major programmers returned to in-person and hybrid presentations in May after hosting the events fully virtually in 2020 and 2021 due to pandemic-related public health concerns.

Fox Corp. and Walt Disney Co. moved their presentations to new venues — Skylight at Vesey and Pier 36, Basketball City — after years of hosting their respective events at the Beacon Theatre and Lincoln Center. Warner Bros. Discovery Inc. held its first combined upfront as one company at The Hulu Theater at Madison Square Garden.

Economic uncertainties and supply chain issues have cast a cloud over the advertising market in recent weeks and could result in decreased outlays in 2023.

Given 2023's headwinds, programmers may put more emphasis on locking down ad deals during the upcoming upfront selling season next year, rather than holding back inventory for scatter sales. In scatter, inventory is sold closer to a program's air date, often at higher rates than those negotiated during the upfront.

In Halley's memo to staff, the executive said this was "a transformative period" for the industry and new realities call for new approaches at Paramount. "As media investment becomes more complex, the [upfront] event needs to evolve to meet this moment," Halley said, adding that the company's targeted approach is intended to encourage dialog with agencies and advertisers.