Cable's Record Upfront Reaches $9.3 Billion: CAB
Organization Says National Cable Networks' Take Surpasses Broadcast's
Mike Reynolds -- Multichannel News, 7/31/2011 11:59:00 PM
The upfront was very, very good to cable networks.
National cable network took in a record $9.3 billion during the recently completed upfront sales market ahead of the 2011-12 TV season, according to the Cabletelevision Advertising Bureau.
That total represents a 16% rise from the $8 billion the medium garnered during the 2010-11 upfront selling season.
While cable's year-ago upfront success achieved ad dollar parity with the broadcast networks, CAB said the industry's $9.3 billion total eclipsed the broadcast nets and drove the overall upfront market to highest-ever spending by U.S. advertisers.
It is estimated that CBS, Fox, ABC, NBC and The CW collectively pulled in an estimated $9.1 billion during the 2011-12 upfront.
"The U.S. advertiser's mandate spending for more cable in the past two upfront markets, up 38% with $2.6 billion in additional ad spend, is a market-wide testimonial to the product-selling power of Cable's video brands" said CAB president and CEO Sean Cunningham,. "It's clear that cable brands are the lead media choice in the marketer's quest for sales growth, new customers and deeper connections to consumers"
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