Seeing its rivals get double digit increases, NBC got into the upfront market, selling advertising for next season at rates that average gains of about 9% on a cost-per-thousand viewers (CPM) basis, according to sources.
After starting to write business late Friday, the struggling Peacock network was done with more than half of the major buying agencies Monday afternoon. NBC is now controlled by Comcast, which bought a controlling interest in NBCUniversal in January.
With the broadcasters approaching the finish line, cable networks are getting ready to do business.
One cable sales executive said the pace of the market appeared to be quick, much like last year.
“We’re at the front end of the negotiating process. All of the budgets are registered and so far so good,” the executive said. “I think the larger cable network groups are looking at all the budgets, doing plans and trying to figure out how the primetime market will impact the cable market.”
With the broadcasters mostly getting low double digit increases in prime, the range for cable networks could be anywhere from 8% to 12%, market sources said.
“It’s June 6 and we’re right on schedule with what happened last year, and last year was an early, strong market so it’s shaping up to be a lot like last year,” the cable sales executive said.
NBC’s sales were first reported by Advertising Age.