Lack Of Olympics Leads To Major Drop In Network Ad Revenue
Combined advertising revenue for ABC, CBS and NBC in Q3 ‘05 was $2.2B, down 21.5% from the comparable quarter last year, which was “boosted by the Summer Olympics,” according to a Broadcast Cable Financial Management Association report cited by the HOLLYWOOD REPORTER’s Georg Szalai. Q3 revenue fell by about $605M, “led by a $707[M] decline in sports advertising.” Compared to Q3 ‘03, total ad revenue was 4% higher, “with sports advertising down slightly more than 1%.” BIA Financial Network VP Mark Fratrik: “The loss of over $700[M] in advertising revenue from sports programming caused by the lack of Summer Olympics this year was to be expected, though it is still a large number.” Fratrik added, “The networks need to be concerned as to the long-term growth history. ... Looking back to 2003, another year without a Summer Olympics, the total network revenue have increased only 3% per year.” Ad revenue through the first three quarters of this year is down 8.3% (HOLLYWOOD REPORTER, 11/17).
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