Lifetime is returning advertising money that had been booked for “Project Runway” during the upfront, MediaPost says. The network has become entangled in a legal dispute with NBC Universal over the fate of the show. In court papers, Lifetime had…
Prodded by clients struggling with the recession, media buyers are asking television networks to roll back advertising prices, both in the current scatter market and for ad time booked during the 2008 upfront. Network executives, while sympathetic to their clients’…
Ad revenue for local broadcast TV was up 1.2% during the third quarter of this year compared with the same period last year, TVNewsday says, citing a Television Bureau of Advertising report with information from TNS Media Intelligence. The increase…
General Motors, which dropped plans to advertise on the Super Bowl and the Oscars, continues as a sponsor of FX’s “Damages,” which will kick off its second season with a commercial-free episode courtesy of Cadillac, Advertising Age says. “We were…
Barclays Capital yesterday said U.S. advertising spending is likely to drop 10% in 2009, a bigger decrease than the firm’s October estimate of a 5.5% drop, AdWeek reports. Total U.S. ad dollars will fall to $252.1 billion next year from…
Television industry revenues are expected to be down 7% this year, according to BIA Advisory Services estimates. BIA’s Investing in Television Market Report estimates that TV station revenues will be $20.1 billion in 2008, their lowest number in seven years….
Research firm eMarketer finds that online advertisers are beginning to target their ads more toward minorities and will continue to increase their efforts in the coming months, BusinessWeek reports. The Association of National Advertisers recently conducted a study that found…
The downturn hitting the advertising business could last three years, according to media consultant Jack Meyers, Dow Jones reports. The ad industry hasn’t seen even a two-year decline since the Great Depression. “Long-festering business problems for the media and advertising…
Giant agency holding company Omnicom is preparing to lay off about 3,500 staffers, or 5% of its workforce, Advertising Age reports. The move would be the latest evidence to the deep problems in the media industry. —Jon Lafayette
Detroit has been at the forefront of the economic recession and can serve as “the poster child for the challenges of television advertising,” BIAfn analyst Mark Fratrik tells TVNewsday. The main reason for the hardship in the area has been…