Marketers Won't Abandon TV Advertising
by John Consoli - MEDIAWEEK
Overall, national advertisers are expected to finalize fourth-quarter prime-time upfront advertising "holds" to "orders" of more than $2 billion.
Despite a troubled economy that is spawning rising retail prices, growing unemployment and record home foreclosures, most advertisers will not abandon national television in the fourth quarter, with just about every marketer planning to spend as much, or even more, than they committed in the May upfront.
Overall, national advertisers are expected to finalize Q4 prime-time upfront advertising "holds" to "orders" of more than $2 billion, with only about 2 percent canceled of the total put on hold during the upfront. The cancellation rate has been about 3 percent in recent and more economically rosy years.
This has respectively confounded and surprised media agencies and network sales executives, who were bracing for a grim year-end.
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