CBS’s Les Moonves had a good news-bad news assessment of this year’s upfront ad market. Advertising Age reports that the CBS chairman and CEO, speaking at the annual Goldman Sachs media conference, said commitments from ad buyers were down 4% to 5% from last year.
On the other hand, he said, “Pricing was fine.”
“CBS sold less ad time in the upfront than in prior years. Mr. Moonves said the network sold about 75% of its inventory, compared with about 79% the year before,” Ad Age reports. “In 2013, CBS secured commitments between $2.5 million and $2.75 and price hikes between 7% and 8%.”
Moonves also made a case for scrapping overnight ratings, the longtime currency that has been the basis for ad sales on television, in favor of C7 figures, which tally viewership during the full week after a show first airs.
Said Moonves: “Overnight ratings are virtually irrelevant now.”
The report notes that the current industry standard is C3, which counts three days of viewership.
“But Mr. Moonves is looking to go further, saying that CBS should get paid, in some capacity, for every ad viewed, no matter when it is watched,” the story adds.