Fox Wraps Upfront Negotiations With Nearly $2 Billion in Advertising Commitments
The top-rated network completes its sales a day after CBS and ABC, which brought in $2.5 billion and $2.7 billion, respectively, while NBC has yet to close.
Fox has completed its upfront sales, hauling in a little more than $1.9 billion in commitments for the 2012-13 season. The network moved 80 percent of its inventory, which is consistent with last year, earning CPM (cost per thousand viewers) increases of 8 to 9 percent.
CBS and ABC completed upfront sales Tuesday. CBS earned CPM increases just under 10 percent for commitments of $2.7 billion, slightly higher than the $2.65 billion last year, when it posted healthy double-digit increases. The network also sold slightly less than the 80 percent of its inventory than it did last year as marketing budgets have contracted due in part to the unstable global economy.
It's unclear whether, Fox or ABC did any business with GM, which was asking for steep pricing rollbacks this year. GM has not traditionally advertised on The CW.
Meanwhile, ABC booked $2.5 billion, and The CW completed its upfront selling last week for slightly less than $400 million on a convergence buy that includes mobile and online streaming.
That leaves NBC as the last English-language broadcast network to complete upfront negotiations, during which networks typically sell between 70 to 80 percent of their inventory for the upcoming season. NBC is expected to close upfront sales this week.