Dive Brief: 

• Broadcast TV ad spending has taken a hit, dropping 18% in Q3 over the same period last year. 
• The major drop is mostly attributed to the Olympic and U.S. Presidential election overspend during Q3 2012. 
• Overall, TV spending was down 6% from year to year. 

Dive Insight: 

​The sharp drop is the inevitable crash after a large binge. That drop, however, comes at a critical time when TV is competing for dollars with the ever-expanding world of online video. Both Twitter and Facebook have made advances in their video ad offerings this year, which could further cut into TV ad budgets.