UPFRONT FRENZY STARTS; PRICES SKYROCKET

Networks Asking 20% Increases; 60% of Prime-time Deals Done Overnight Tuesday

By Published on .

LOS ANGELES (AdAge.com) -- The TV upfront market got under way last night, with 60% of the broadcast prime-time deals
Related Stories:
WE MUST ABOLISH THE TV UPFRONT
The Fragmenting Media Market Demands a Better System
NETWORKS DETAIL 2003 -04 PROGRAMMING PLANS
Also: Download Chart of Networks' Household Share Estimates
TV UPFRONT MARKET ABOUT TO TAKE OFF
Expectations of Sharp Price Increases Drive Action

fetching hefty price increases, according to participants.

Media executives now project the prime-time upfront market will reach $9.2 billion -- some 14% higher than a year ago.

Increases of 16% to 20%
All the major networks had asked for program increases of 20% or more cost per thousand viewers (CPM) but got somewhat less, though still high, at increases of 16% to 20%.

Networks that saw increases of at least 16% include General Electric Co.'s NBC, News Corp.'s Fox, Viacom's CBS and UPN and Walt Disney Co.'s ABC. The WB, part of AOL Time Warner, inked deals worth more than 20%.

Surprised and discouraged
"It's much stronger than last year," said one veteran media agency buyer. "I was little surprised and am a little discouraged. I have to go back and explain to our clients why we are not going to hit our points."

Media executives worked through the night and plan to pull another all-nighter tonight.

In this article:
Most Popular