CBS Corp. Chief Executive Leslie Moonves said ad prices in the scatter market are 35% above the prices for ads bought in the upfront market, reports Bloomberg News.
Moonves made the comment during a conference call to discuss the company’s third-quarter results. CBS reported that its profit jumped 53% on stronger advertising sales, according to a separate Bloomberg News story. "We are benefiting greatly from our return of advertising to historical levels," Moonves said during the conference call.
Nevertheless, revenue at the company fell 1.6% to $3.3 billion, as the company had fewer sales of TV shows into syndication. But ad sales at the CBS Network rose 7%, the article notes.
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