The marketing literature on program context includes several studies on the influence of program-induced positive and negative emotions on the evaluation of embedded television advertisements. While the majority of these studies have been conducted with younger adults, new discoveries on the differentiated processes of emotion regulation among younger and older adults are reviving interest in this topic. The present study examined the impact of television program context on program-induced affective reactions and on the processing of embedded television advertisements among younger and older adults. Program-induced mood valence was manipulated by using excerpts from sad and happy films. This research shows that affective reactions elicited by sad and happy television programs, as well as attitude toward the advertisement, differ between younger and older adults. The level of sadness reported by older adults was lower than that of younger adults within a sad program context. The results also show a negative influence of a sad (versus a happy) program on attitude toward the advertisement among younger adults but not among older adults. These results confirm that in advancing age, it is possible to shape emotional responses to suit regulation goals.