It took eight years to do it, but in 1992 Rainbow Advertising Sales Corp., the advertising sales wing of Cablevision Systems Corp., cracked the $ 100 million mark in annual sales, up 32% over a comparable period a year ago, according to a top executive at the company.
32% hike projected
According to Robert Fennimore, president and COO of RASCO, the company posted more than $ 109 million in sales during the year.
In addition, he projects sales to increase during 1993 by 32%.
“Breaking the $ 100 million barrier in eight years is a notable achievement,” Fennimore said in making the announcement. However, he added that the statistic also indicates that advertisers are realizing the importance of spot and regional advertising.
A portion of the company’s sales gains were generated through the SportsChannel Regional Network, which was up 29% over a year ago. The balance of RASCO’s sales came from local cable system ad sales for Cablevision and its News 12 Long Island cable service. Sales in that unit were up 17% from 1991.