CAB: Cable Upfront Up 5%

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The Cabletelevision Advertising Bureau put this year’s cable upfront at just over $6.5 billion, an increase of 5%, officials said Monday.

“Based on deep input from a full range of our network members, the CAB estimates that the total upfront advertising-dollar volume for ad-supported cable rose 5% versus the previous upfront, going from $6.2 billion in the ‘04/’05 upfront to just over $6.5 billion in the ‘05/’06 upfront, some $300 million higher,” CAB president Sean Cunningham said in a prepared statement.

That number is much softer than some industry experts and Wall Street had originally projected. Some initial prognostications called for cable to hit about $7 billion in this year’s upfront.

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