In a sign that even across a broad landscape of new media options Madison Avenue continues to lean heavily on the old guard, Variety reports that CBS is seeing gains in the upfront marketplace.
“CBS expects the volume of advance advertising commitments placed against its next primetime schedule to rise 5% to 6%, according to a person familiar with the matter, and advance commitments placed against its late-night programming to increase 20% in the industry’s annual ‘upfront’ marketplace,” Variety reports. “The figures show advertisers maintaining their position in one of the stalwarts of linear broadcast television at a time when more consumers are showing interest in streaming video they can watch at times of their own choosing.”
Variety adds: “CBS may have secured between $2.39 billion and $2.79 billion in advance commitments for its primetime schedule, according to Variety estimates. In 2018, the network known for series such as ‘NCIS’ and ‘Young Sheldon’ was able to secure between $2.28 billion and $2.63 billion, a 1% gain over its performance in 2017. CBS’ estimates surface after the CW likely secured a 5% increase in ad commitments for its primetime schedule.”
Variety’s source said CBS sought prime-time CPM increases of between 14% and 16% this year, vs. the 9% to 10% it sought in the 2018 market.
“Advertisers have moved to lock down broadcast inventory in this year’s upfront, conscious that rapid viewership declines fueled by moves to digital video mean they actually have to worry about a diminished supply of consumer eyeballs,” Variety notes. “That has created higher demand for TV time, and pushed up the rates networks are seeking.”