This year’s television upfronts experienced a boom in business, both in cable and in broadcast, according to a new estimate from the consultancy firm Media Dynamics. MediaPost reports that the estimate shows revenue was up 6% from a year ago.
“Total TV upfront ad revenues hit $19.7 billion — $10.6 billion for cable networks (up 7.6%) and $9.1 billion for broadcast networks (4.1% higher),” the story reports. By comparison, the year-ago upfronts saw a 4.6% revenue increase to $18.6 billion, with cable up 4.5% and broadcast networks rising 4.7%.
CPMs were also higher this year, according to the report — up 8% for broadcast to an average of $29.01 per thousand prime-time adult viewers, and up 9.1% for cable networks to $15.94.
“Many media prognosticators anticipated a flat or declining market this year,” the report notes. “TV ad-selling network executives believe the rise is partly attributable to ongoing digital media concerns — including viewability, accountability and fraud. These are some of the same reasons that delivered high results a year ago.”