CBS chief Leslie Moonves says advertisers are now paying 25 percent more for TV commercial time than they did earlier in the year. That's an indication that businesses are having the confidence to spend more on marketing
Each year, before the start of the fall television season, advertisers buy commercial time during a period called "upfronts." Later, after the season has begun, advertisers buy additional time during the so-called "scatter market" closer to airtime.
Many broadcasters withheld spots for sale during the upfronts this year, gambling that prices would improve closer to airtime.
The bet paid off. Moonves says scatter pricing is up 25 percent over the upfronts.
The CBS CEO spoke Tuesday at the UBS media conference.
Also at the media conference, David Zaslav, president and CEO of Discovery Communications told CNBC that the ad market is improving but visibility remains pooras buyers are unwilling to commit to deals covering a long period of time.
"A lot of advertisers have come back to the marketplace, volume is up," said Zaslav in a live interview. "So so far, so good, but visibility remains pretty limited. We come in every week, and each week it’s been better."
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