UBS analyst: ad revs may fall 20%


UBS Warburg broadcasting analyst Leland Westerfield says broadcast upfront advertising spending will likely be down 18%-20% to roughly $6.6 billion this year. The market, he says, will also likely have a slower pace, rolling out over a two-month period instead of the chaotic one- or two-week markets of the recent past. The good news for the networks, he says, is that scatter pricing next fall and winter will probably outpace the pricing in the upfront.