CBS may decide to hold back commercial time in the upfront market if it doesn’t get the price increases it wants, the Hollywood Reporter reports.
That’s according to Chief Financial Officer Joe Ianniello, who spoke at an investment conference on Monday. Given that scatter ad prices have jumped 25% or more from last year’s upfront, Ianniello said that double-digit price hikes this year would give advertisers a discount to the current scatter market. "Tell me what’s unreasonable about that," he said.
Marketers therefore should look "get as much as they can and lock it in" in this year’s upfront market. He also said the advertising recovery appears to be encouraging, with ad spending increasing across many sectors, ranging from auto makers to financial services companies.