There are three ways to get rich while working in advertising. You can start an awards show and build an empire based on vanity. You can start, acquire, or run a holding company. Or you can sell ad space for the networks.
Did you know that last year, the broadcast and cable networks together secured more than $20 billion in ad commitments during its annual Upfronts gathering in NYC? That was up about five percent more than the previous season, part of a three-year trend, suggesting that any obituaries for traditional media are assinine.
For emphasis, I’d like to clarify that the networks scored $20 billion in advance commitments in just one week.
The actual costs to advertise on TV are much higher.
NBCU Is Now In The Money
Following the Upfronts this year, NBCUniversal’s CEO Steve Burke said, “The advertising market is very, very healthy.”
He had good reason to gloat. NBCU received nearly $7 billion in advance advertising commitments during this year’s Upfronts, which were held in Manhattan in May. That marked a 10 percent increase compared to the year-ago quarter, according to Ad Age.
Two notable reasons for the health of the market: higher rates and a bevy of new advertisers.
“The biggest category of advertising in our upfront was from digital-native companies: The FAANG companies [Facebook, Apple, Amazon, Netflix and Alphabet’s Google], streaming businesses, businesses that basically exist on the internet,” Burke said. “Well over a billion dollars this year came from digital-native companies that literally didn’t advertise four or five years ago.”
Note: MSNBC Entertains The Libs
NBCUniversal was formed in 2004 upon the merger of NBC an Vivendi Universal Entertainment. In 2011, Comcast acquired a 51% majority stake in NBCUniversal, and in 2013, Comcast paid roughly $16.7 billion to acquire the remaining 49% from General Electric.
NBCU owns NBC, Telemundo, E!, Bravo, Oxygen, Golf Channel, NBC Sports, MSNBC, Universal Pictures, Universal Studios theme parks, plus several local NBC affiliates in major media markets.
MSNBC is an entertainment channel for liberals and other interested in Not Fox. I find that I periodically need to remind myself, and the people close to me, of this critical fact.
MSNBC doesn’t exist to bring truth or justice to Washington, D.C. MSNBC is big business.