CBS Corp. CFO Joe Ianniello is confident going into the broadcast network upfront-ad sale next week, saying that his network will hold back ad space if it does not get the prices it is looking for, according to The Hollywood Reporter.
Given that current scatter ad prices are up 25%-plus over last year’s upfront, the CFO said another way to look at this is that double digit price gains in this year’s upfront would be a chance for marketers to get ads at a discount to current scatter market prices. “Tell me what’s unreasonable about that,” he said.
“They should get as much as they can and lock it in,” Ianniello said about what upfront strategy advertisers should pursue. That said, “we got to get the pricing we want. We’ll hold back (inventory) if needed” if pricing is too low, he added.