“CBS expects to wrap its annual upfront discussions for advance ad commitments with volume gains driven largely by TV programs other than its array of primetime comedies and dramas, according to a person familiar with the situation, while volume for prime is expected to be flat with last year’s activity,” Variety reports.
The report adds: “Inside CBS, executives are pleased by the results, this person said, given that projections for 2017’s upfront market … had called for volume to slip.”
Deadline.com notes that along with “surprising strength for its morning and late night programming,” CBS appears to be pulling in “high single digit per-viewer pricing gains for its prime time inventory.”
“The broad strokes information suggests that CBS beat analysts’ expectations. For example, Evercore ISI’s Vijay Jayant predicted that CBS’ prime time prices would rise 6%, contributing to a 2.8% lift [in] total upfront sales to $3.1 billion. Nomura Instinet’s Anthony DiClemente saw prime time sales rising 1.4% to $2.48 billion,” Deadline notes. “But consumer packaged goods companies, drug makers, and quick service restaurants were eager to lock in ad time for the 2017-18 season, and drove the market.”