Upfronts Up Only 1%
by Marisa Guthrie -- Broadcasting & Cable, 6/24/2007 8:00:00 PM
The broadcast upfront market is officially closed, with the networks raking in a total of $9.1 billion, about 1% up from 2006.
The CW completed its final deals last Friday for a total take of $650 million. “In just our second upfront, we exceeded our revenue goals, adding over a dozen new advertisers with great strength in categories like wireless, retail and theatrical, a bull’s-eye for The CW’s young adult viewers,” says Executive VP of Sales Bill Morningstar.
The network’s 18-34 target demo is an attractive one for advertisers. And The CW has had much success with integrated advertising, such as the story-driven “content wraps.”
CW posted 11%-12% gains in primetime cost per thousand (CPM), the largest of any network. ABC’s CPMs are up 8.5%-10% followed by CBS and Fox, with 8%-9% each, and NBC, with 4%-6%.
CBS, the No. 1 network in viewers, had the biggest take in the market with $2.5 billion, followed by ABC with $2.4 billion, Fox with $1.9 billion and NBC with $ 1.8 billion.
This year’s market got off to a lethargic start as buyers parsed Nielsen’s commercial ratings data and networks pushed for some credit for DVR playback. But NBC Universal’s wide-reaching, nearly $1 billion deal with Group M, negotiated on live-plus-three commercial-minute ratings, kick-started the market and helped set a metric precedent. And while overall broadcast viewing is down, it is still the most effective way to reach a broad cross-section of consumers
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