Everything’s a competition when it comes to money because, you know, whatever goes into your pocket isn’t going into mine. With that little economics lesson in mind, TVWriter™ brings you:
Cable Upfront Grew 5% to $9.8 Billion – by Jon Lafayette (Broadcasting & Cable)
Cable networks took in $9.797 billion in advertising commitments during the 2012-13 upfront, according to new figures from the Cabletelevision Advertising Bureau.
The $9.8 billion is a record and represents a 5% increase from the prior year. Over the past three years, advertisers have increased their upfront spending on cable by 46%.The growth rate was lower than the double digit gains cable racked up in the two previous upfronts. Cable registered a 16% gain in the 2011-12 upfront and 19% jump in 2010-11.
Though growth slowed, the cable upfront surpassed the broadcast upfront. Sales volume for the English-language broadcasters was flat to down. David Bank of RBC Capital Markets estimates that CBS, Fox, ABC, NBC and the CW took in $9 billion, down 2% from the year before.
“Being in constant touch with agencies and advertisers we are told that cable brands are being relied on to play an every larger and leading role for U.S. advertisers in driving their consumer sales,” CAB CEO Sean Cunningham said in a statement.
Cunningham said advertisers cited three reasons for their increasing investment in cable advertising. One is the strength of consumer connections to cable content brands, the second is the high quality of original programming content on cable, and third is “the fact that network cable brands have grown audiences to a lead position in every form of video advertising screen.
The CAB also said that during the upfront cable did more multi-platform deals than ever before.
Further proof that the broadcast network apocalypse is at hand. We mean, somebody’s world has to end in 2012, right? ‘Cuz it’s preordained? The question for us is, will changing viewing habits help or hurt those who write, or want to write, TV? (Best Answer: “Nah.”