Upfront Network Sales Up -- But Not As Much As Previously

The television networks may have succeeded in raising their revenue from upfront
sales by a combined average of 4.1 percent for next season, but that percentage is
well below the 6-10 percent they have averaged in previous years, Bloomberg News
observed today (Wednesday). The lower percentage was attributed to a declining audience
for broadcast programming and the fact that the networks have been forced to guarantee
advertisers a smaller number of viewers than heretofore. Moreover, the broadcasters
sold more of their ad inventory in the upfront market than they have in the past --
an estimated 80-85 percent, rather than the usual 75 percent, according to today's
New York Times. Michael Morris, an analyst with UBS Securities in New York,
told Bloomberg. "Broadcast networks are seeing both negative ratings trends and a difficult
economic environment, and both factors can hurt advertising. ... The more they can
sell upfront, the more secure they can feel about their revenue in the coming year."

11/06/2008

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