One important bright spot in the media business — which has been battered by ratings woes, cord cutting and hassles over affiliate fees — is the advertising market. And media execs are making sure their investors hear about it.
“Big media companies continued to report pretty decent ad revenue growth in the most recent quarter,” The Wall Street Journal Reports. “Time Warner Inc. on Wednesday said its advertising revenues in the period increased 5%. Domestic ad revenue at 21st Century Fox’s cable networks division grew 3%. At Comcast, NBC broadcast revenue was up 7%. NBCUniversal cable networks’ ad revenue dropped 9.3%, but excluding political revenue it increased 2.8%.”
A number of execs at major media companies appeared to be “reading from the same script” in their recent earnings reports, where enthusiasm over ad sales took the spotlight, WSJ reports.
For example, Viacom Chief Executive Philippe Dauman is quoted in the report saying: “We are seeing pricing in the scatter market over the last upfront in the neighborhood of 20%. So that bodes very well for the upcoming upfront.”