The red-hot market for television advertising continues to power ahead despite mixed macroeconomic trends, reports The Hollywood Reporter.
The ad market is getting some help by increased spending from the country’s biggest advertisers, such as Procter & Gamble and General Motors, the story says. Both have indicated recently that they are boosting their ad spending in 2010. Still, ad spending this year should be similar to the level reported in 2002-03, instead of at the level seen before the recession, the story says.
Cable networks may see a big benefit, the article adds. "The momentum at the cable networks will continue as they have done their upfront, and most had growth in the double digits and are reporting the scatter market is up in the double digits from that," said SNL Kagan analyst Derek Baine. "So it should be smooth sailing for the rest of the year for cable nets."