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Fox Corporation is the latest to benefit from stronger-than-expected trends in TV ad spending, as the company notched strong gains in advertising commitments for its next cycle of programming – its first since selling off a large chunk of its media assets to Walt Disney.
Ad demand was stronger than many executives anticipated, according to a person familiar with the matter. The volume of ad commitments for the primetime entertainment lineup on Fox Broadcasting – which includes “9-1-1” – increased in the high-single-digit percentage range over last year’s offerings, this person said. If Fox’s primetime entertainment volume rose in a range of 8% to 9% over last year, then the company could have secured between $1.6 billion and $1.82 billion, according to Variety estimates.
Fox - % - % - Increase - Ad
In 2018, Fox only managed to secure a 1% to 2% increase in ad commitments for its primetime lineup, which totaled between $1.48 billion and $1.67 billion, according to Variety estimates.
Fox is the latest TV network to wrap up its annual “upfront” talks with advertisers, part of a yearly ritual in which U.S. media companies try to sell the bulk of their commercial inventory for the next programming season. CBS, CW, WarnerMedia and Univision have all captured more advance ad commitments than they did in 2018’s discussions. The spending is being boosted despite declines in linear audiences,...
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