By Brian Steinberg
News Corp.’s Fox network has completed its upfront negotiations, with the volume of dollars committed roughly flat with the network’s performance in last year’s negotiations, according to a person familiar with the situation. Fox last year secured between $1.98 billion and $1.99 billion in upfront commitments, according to Ad Age estimates.
The network, whose wrap-up is the last to be disclosed, caps off what appears to be a flat upfront session, in which advertisers declined to increase their overall investment in TV.
Fox was able to secure increases in the cost of reaching 1,000 viewers of 7% to 9%, according to ad buyers. Last year, Fox was able to secure increases in the high single-digit percentage to low double-digit percentage range.
Fox sold approximately 80% of its available ad inventory for the upcoming season, according to the person familiar with the matter, on par with the amount of inventory it sold last year.