One of the major broadcast nets is getting price increases of up to 20% for commercial time sold in the scatter market. MediaPost reports that CBS is reaping the rewards of strong demand, with prices well above those set during last summer’s upfront.
The surge comes after a relatively modest upfront in which CBS pulled in price increases in the 4% to 5% range, with the network’s total sales estimated at $2.4 billion to $2.6 billion.
CBS also has the Super Bowl coming up, with 30-second spots reportedly pulling in a record $5 million. CBS Corp. President and CEO Les Moonves indicated that the network is holding back on wrapping up sales. “As you get closer and closer to the game, there is going to be some advertiser that has to be in Super Bowl,” said Moonves, hinting that spots could go for “north of $5 million.”