Myers Projects Big Upfront Gains

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With the Iraq war now almost a distant memory, Jack Myers
Reports
Wednesday released its projections for the 2003-04 upfront market --
upwardly revised to $8.75 billion for the broadcast networks and $5.35 billion
for cable.

That broadcast primetime estimate would represent an uptick of 6.7 percent
from the year-ago $8.2 billion, up from the daily newsletter's previously
projected 5 percent.

For the basic cable networks, JMR editor Jack Myers estimated a hefty
16 percent jump from the year-ago $4.6 billion, versus the earlier forecast of
10 percent.

He estimated that there will be "significant across-the-board CPM [cost per
thousand homes] cuts," in part due to increases from various categories, led by
automotive and entertainment.

Also, some advertisers will shift dollars into the upfront and away from the
scatter market in order to avoid the hefty price increases incurred during that
season, Myers projected.

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