The television upfront is either a dinosaur or a thriving marketplace, depending on who you ask… and when you ask them.
The network upfront happens in May, when networks reveal their fall schedules and advertisers can buy blocks of TV time all at once and not have to worry about missing out on prime inventory later on. If they hold back their funds and wait to buy inventory later - during the “scatter” market - they may have little or no prime inventory to choose from. On the other hand, if they agree to purchase during the upfront at prices that are later shown to be higher than demand dictates, they essentially lose money.