Holy economic revolution, gang! Looks like interweb TV is here to stay. Who’d a thunk it? (Outside of us all, that is.)
by David Lieberman
The debate is over, or should be, MoffettNathanson Research’s Michael Nathanson says this morning: Advertisers are shifting spending to online video at the expense of traditional TV programming that isn’t “essential” — meaning live sports and events, hit scripted shows, and cable shows that appeal to hard-to-reach audiences. Even with a flood of political ads coming over the next few months, Nathanson just lowered his 2014 ad forecast for national broadcast TV to +2% from +5%, and for national cable to +5% from +6%.
Many media CEOs dismissed the weak ad trends in the first half of this year, blaming the Winter Olympics in Q1 or the World Cup, which peaked in July during Q3. CBS chief Les Moonves, for one, said that he’s “now seeing pacing improve significantly here in Q3, both nationally and locally, and Q4 will be even better than Q3.”