Third quarter advertising revenue looking better for CBS
CBS Corp. president and CEO Leslie Moonves said Thursday that advertising momentum continues to be better for his company in the current third quarter than earlier in the year.
But he wouldn’t say whether third-quarter revenue for the CBS network would be up year-over-year.
Appearing at the Bank of America-Merrill Lynch 2009 Media, Communications & Entertainment Conference in Marina del Rey, Calif., Moonves was asked by analyst Jessica Reif Cohen if the network would be up in the current quarter. “I can’t talk about that,” Moonves replied, but emphasized that revenue will be above the second quarter.
He also said third-quarter scatter market sales are “very strong.” CBS sold about 65% of its ad inventory in this year’s upfront ad market, about 10-15 percentage points less than usual, the CEO reiterated.
Asked about fourth-quarter scatter, he predicted it will “remain strong” and be up over the year-ago period when the network had less scatter inventory to sell.