Fox Cable Networks Concludes Upfront Negotiations
Fox Cable Networks has wrapped upfront negotiations, the second big cable group to do so after Turner last week concluded its upfront sales with CPM increases between 7 and 8 percent.
Fox Cable went into the upfront with another new network to sell; FXX, which will launch Sept. 2 in 74 million homes and target the 18-34 demographic with comedy and younger-skewing dramas.
"Fox Cable Networks has once again demonstrated that its channels are some of the most desired brands in the ad supported space," Lou LaTorre, president, ad sales at FCN, said in a statement released Wednesday. "We’re so proud that our advertising partners recognize the huge investment we've made to expand our family of networks, and continue to feel we're worthy of their trust, investment and partnership. As always, we will do everything we can to help them achieve their goals and look forward to a very successful year for all."
FX Networks – which also includes flagship FX and FXM – held its first formal presentation for buyers in March in New York. Hit comedies It's Always Sunny in Philadelphia and The League will move from FX to anchor FXX. And the latest channel in John Landgraf's FX Networks portfolio is targeting a demo prized by media buyers -- young men -- since they are harder to reach through linear television.
Speaking at that upfront, which was held at Cipriani, LaTorre predicted that cable’s aggregate upfront haul would hit $10 billion for the first time. Last year, cable took in $9.8 billion at the upfronts, according to the Cabletelevision Advertising Bureau.
And on Wednesday, LaTorre noted that FCN "will once again be among the leaders in revenue growth."