ABC, CBS and Fox TV networks, as well as cable channels including Bravo, Fox News Channel, TBS and TNT, are showing signs of recovery from the advertising recession, the Los Angeles Times reported Thursday. Advertising are buying available time at significantly higher prices than the outlets were able to command this summer, the newspaper said.
David Levy, president of sales for Turner Entertainment, which includes TNT and TBS, told the newspaper it is premature "to declare victory, but the market is definitely improving."
"In challenging times, people go back to what they know, and what they know best is television," he said.
The Times said fourth-quarter ad buys are up in large part because retailers are pushing holiday sales, Microsoft Corp. and Apple Inc. are promoting new products, and competition has heated up for Verizon, AT&T and Sprint. Even financial firms, including American Express, are buying more time, TV executives and ad buyers told the newspaper.
One network TV sales executive described fourth-quarter ad buys as "gangbusters," the Times said.
Copyright 2009 by United Press International.