Advertisers have withheld more than $350 million in fourth-quarter scatter spending at the national broadcast networks and more than $400 million at local broadcast TV stations, Electronic Media reports. The spending pullback could extend well into 2001. The falloff in last-minute fourth-quarter ad spending is steeper than broadcasters expected, even though the market has been softening for months. Howard Nass, executive director local broadcast at TN Media, estimates network TV ad spending in the fourth quarter is down about 8%, compared with the forecast 3% rise. Pricing is as much as 10% to 12% below upfront prices.
Copyright November 2000, Crain Communications Inc.